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Here's what techies earn in Silicon Valley

Silicon Valley, home to many of the world's largest technology corporations, is a magnet for technology professionals.

The Valley has the highest concentration of high-tech workers of any metropolitan area in teh United States or elsewhere, with 285.9 out of every 1,000 private-sector workers and the region is the biggest high-tech manufacturing centre in the United States.

But how much do these workers get paid and, taking the living standard into account, is it enough?

Let us find out.

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Here's what techies earn in Silicon Valley

Tech job market

From January to March of 2011, venture capital firms spent $7.5 billion to fund 738 deals.

Out of these, 46 per cent were for Seed or Series A rounds, which have helped create a job boom in the area.

There are around 48,000 jobs at Internet companies in the Valley - more than there were during the late 90s' dot-com boom.

In 2010, unemployment was 11 per cent; it is down to 8.5 per cent in 2011.

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Here's what techies earn in Silicon Valley

Salaries top-paid engineers command (annually)

Google: $180,000

Linkedin: $155,000

Paypal: $152,000

Facebook: $150,000

Apple: $140,000

Twitter: $125,000

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Here's what techies earn in Silicon Valley

Average annual salaries in the Valley

Product manager: $105,000

Marketing manager: $102,000

Java/web developer: $97,349

Project manager: $92,000

Software engineer: $90,000

Graphic designer: $56,887

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Here's what techies make in Silicon Valley

Cost of living

The average cost of living in the Valley is 61.5 per cent higher than the national average.

The average salary in the Valley is around $92,229 per year. The same standard of living would cost:

$74,808 in New York

$59,514 in San Diego

$46,912 in Philadelphia

$43,459 in Dallas

$38,007 in Knoxville

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Here's what techies earn in Silicon Valley

Taxes

In California, anyone making over $46,776 per year must pay 9.3 per cent in income taxes.

A person earning the average tech salary in the Valley would save $42,919 in just five years in a state like Florida, where there is no income tax.

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Here's what techies earn in Silicon Valley

Housing

The average price of a home in the Valley is $774,584. This is 191 per cent higher than the national average.

The average apartment rent costs $2,241 per month. This is 76 per cent higher than the national average.