RESEARCH TRIANGLE PARK – If you’re working in tech, it pays to live in North Carolina.
That’s according to the latest numbers coming out of NC TECH’s State of Technology 2020 Industry Report and Tech Directory released this week.
The report ranks North Carolina at No.5 across the country when it comes to annual earnings – ahead of Texas, Maryland and California when adjusted for purchasing power. Alabama nabbed the top spot.
The typical tech worker in North Carolina earns around $80,800 a year, while a tech worker in California earns about $96,300 per year.
“This discrepancy however is eliminated when we accounted for purchasing power by state,” the report notes. “With purchasing power, the median hourly wage of a tech worker in North Carolina is higher than in California.”
The numbers look even more impressive when divided by sub-sector.
In North Carolina, the average salary with purchasing power for an energy tech worker is $144,200 per year.
For an environmental tech worker, it’s $109,300 per year. Meanwhile, a tech worker in life sciences can expect to rake in $125,800 annually, while an IT worker is around $135,900.
“If you’re in a different industry, this makes your head explode,” said Economic Leadership managing partner Ted Abernathy, who compiled the report and presented its key findings at a briefing at the Research Triangle Foundation in RTP on Thursday morning.
“We’re a top ten state now for wages. I was raised here. The idea that North Carolina would be the top ten state for wages in anything back in the 60s was something people didn’t even imagine.”
However, he also emphasized the numbers are on par with the rest of the country.
“The difference here is we’re still going to be better value against some competitors. Obviously, its’ easier to pay salaries here than in Austin or San Francisco.”