Austin has scored many flattering headlines, with enviable rankings for quality of life, entrepreneurship and health. Now it's adding another choice distinction -- Austin led the tech world in salary growth.
We'll have more on that in a minute.
First, let's look at the tech industry's continued diversity and inclusion challenges, as highlighted in a survey of 2,400 job candidates and hiring data analyzed by careers site Hired.
In the last 5 years, more than 63% of women interviewed said they felt discriminated against in the workplace due to their gender, compared to just 7% of men, the report showed.
Meanwhile, salary expectations differ based on race. For example, Black women are expecting to make $0.88 for every $1.00 a white man expects, the survey of job applicants showed. And Black men said they expect to earn $0.92 for every $1.00 a white male applicant expects.
Hired said it appears the diversity and inclusion efforts in the industry "aren't making a meaningful impact."
Salaries for Black candidates are increasing, but they're still the lowest of any racial group and $10,000 less on average than those offered to white candidates. Last year, that figure was at $11,000 less on average.
The industry has a long way to go, but Austin has all the spotlight it needs to be a leader in new diversity and inclusion efforts. As Phil Walker, managing partner at Career Partners International, noted last week: “Austin tech companies have an opportunity right now to do a self-examination and have an honest dialogue about their diversity strategy."
And Austin is No. 1 when it comes to tech salary growth. Well, technically, it was a tie with Toronto. Both tech hubs logged an average salary growth of 10% in 2019, Hired's report said.
The new data put the average Austin tech salary at $137,000. That's lower than New York, San Francisco or Seattle. But it's a tie with Los Angeles, and it shows Austin salaries above those in Boston, Washington, D.C., and Chicago.
And if you adjust for cost of living, Austin is the clear leader. With factors like rent, utilities and taxes factored in, Austin's average tech salary is $224,000 -- well above second place Denver, with $202,000.
"...even though you may be earning a bigger paycheck living in the SF Bay Area, your money will go significantly further in cities like Austin and Denver, where your adjusted salary becomes $224,000 and $202,000 respectively," the report says.
