Out of 50 top tech-talent markets, the Los Angeles/Orange County region produced the second-highest number of tech degree graduates in the U.S. between 2017 and 2021, with nearly 70,000 graduates earning degrees at universities in the region.
Surpassed only by the New York Metro area, Los Angeles/Orange County ranked ahead of top tech markets including the San Francisco Bay Area, Seattle and Vancouver, according to CBRE’s Scoring Tech Talent 2023 report. The region also added 36,650 tech jobs from 2017 to 2022, increasing its workforce by 17% to reach 250,000 workers and becoming the fifth-largest tech talent workforce in North America.
As for the balance between tech degrees and jobs, Los Angeles/Orange County produced 42,300 more degrees than tech jobs between 2017 and 2022, marking it as the top education market and highlighting a strong tech talent pipeline for companies looking to expand and relocate to the region.
Wages for tech talent grew in the six-year period, as the average tech talent wage in the region increased by 20% to nearly $113,000. Los Angeles/Orange County had the 10th-highest average annual wage among large markets for tech talent employed by tech companies at $102,200, while the San Francisco Bay Area and Seattle had the highest average wages.
Despite high graduate and workforce numbers, the Los Angeles/Orange County region still ranks below the top 10 markets for tech talent, sitting at number 14 in CBRE’s 2023 report.
The annual tech talent report from CBRE ranks the top 50 tech markets in the U.S. and Canada and outlines tech talent labor market trends, defining tech talent across 20 key tech professions, such as software engineers and systems and data managers, across all industries.
Last month, CBRE ranked L.A. fourth on a list of top AI talent markets, behind the San Francisco Bay Area, New York City and Seattle. Ranked after L.A. were tech hubs Washington, D.C.; Boston; Dallas/Fort Worth; Chicago; Atlanta; and Austin.
Out of the top 50 markets, California’s Inland Empire was the fourth most diverse market for tech degree graduates.
The Inland Empire ranked in the top 10 most concentrated markets for software engineers working in the tech industry and made the list of top tech markets at number 50, falling among small tech markets with less than 50,000 workers. The Inland Empire added 8,200 tech jobs between 2017 and 2022, growing at a rate of 44%.
“Los Angeles and Orange County have benefited from the region's premier educational institutions that are producing a fast-growing pool of highly skilled tech talent,” said CBRE Vice Chairman Jeff Pion in Greater Los Angeles. “The region’s desirable lifestyle and wide-ranging job opportunities are additional draws for tech talent to remain here. These variables have created an environment where tech companies and non-tech companies are confident their current and future talent needs can be met.”
In the U.S. and Canada combined, the countries added a net 760,000 tech talent jobs since 2020 across the San Francisco Bay Area, New York, Seattle and Vancouver as well as smaller markets including Nashville, Cleveland and Canada’s Waterloo Region.
The number of U.S. tech talent workers increased more than 7% from May 2021 to May 2022, with software developers and programmers accounting for more than half of new tech talent employment.
