Silicon Valley, despite having the highest tech salaries in the country, has experienced the biggest drop in pay compared to other tech hubs in the country, falling 15.25% from 2022 to 2023.
Krista DeWeese of Fremont at her apartment on Thursday, June 6, 2024. Salaries in the tech sector in the Bay Area decreased by 15%, the biggest drop in the nation. But the Bay Area still has the highest tech salaries of any Metropolitan Area. DeWeese has been laid off 4 times in 8 years, and struggles to keep up with the cost of living in the Bay Area as her salary has shrunk. Krista DeWeese has been laid off four times in the last eight years. She wakes up every morning feeling anxious.
And with inflation, DeWeese and others are watching their spending power shrink. More than 10 years ago, she was earning over $100,000 in total compensation. That amount has dropped 15% since she was laid off from Yahoo in 2016, and has not increased since.DeWeese has been cutting back where she can, but living by herself in a one-bedroom apartment in the suburbs of Silicon Valley with her adopted Border Collie mix, Sadie, while caring for her aging mother nearby, has taken its toll.
Across the United States, women still earn between 14% and 16% less than their male counterparts, Ratliff said.The experience of a fresh graduate trying to find work is just as daunting. While she was able to find work quickly in Ireland, Richards is still hoping to return home eventually.
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