It’s no secret that software developers, including those who with Python experience, are in high demand. Low unemployment means many Python developers are seeing salaries rise, and those working in Silicon Valley are seeing significantly higher compensation than the national average. To help explain why being a Python developer can lead to big bucks in Silicon Valley, here is an overview of all of the factors at play.
As 2016 came to a close, the unemployment rate amongst tech pros across the nation sat at 2.9 percent. This is well below the national average, estimated to be 4.7 percent. While the unemployment rate for some IT professionals, include web developers and information security analysts actually rose, software developers saw unemployment fall even further during 2016, reflecting the increased demand for these skills.
The trick with low unemployment in certain IT positions is that new employees aren’t entering that portion of the workforce at a high enough rate to offset the rise in demand. Python developers traditionally have significant amounts of education and training, and it can’t be obtained overnight. If more workers don’t choose to enter the field, the downward trend for unemployment may continue in the software development sector.
Cost of Living
A variable that affects anyone living and working in Silicon Valley is the cost of living. The cost of housing, food, utilities, and other basic expenses are elevated when compared to the national average. This means companies looking to attract the top Python developers need to offer salaries that offset the increased costs associated with being in the region.
However, some regions that are also known for a high cost of living, like New York City, have yet to meet the same salaries being offered by businesses in the San Jose area. When looked at from this angle, just because an area has a higher cost of living when compared to other parts of the nation, that doesn’t guarantee the compensation offered is designed to offset it.
Higher Skill Levels Required
Silicon Valley is still considered a hub for technology with significantly more tech companies operating than average. This means competition for IT professionals is especially high, pumping up salaries in efforts to bring in new talent and retain current employees.
While possessing Python development experience is often enough to get you a strong starting salary at a new company, vacancies in the San Jose area typically require a higher skill level on average than positions in other metro areas. As the level of experience rises, so do the salaries. And that means highly talented software developers can position themselves for above average compensation if they are able to work in the Silicon Valley area.
If you are interested in Python developer positions in the region, The Armada Group has the industry knowledge to help you get a strong salary for your skills. Contact us to discuss opportunities in your area today.