Dive Brief:
- More than three-quarters of tech workers would relocate somewhere else if they could, citing affordability and the economy, according to a CompTIA report. The association for IT professionals said that with more than 260,000 IT jobs in the U.S., tech workers are in high demand.
- Respondents' top three criteria when choosing where to work were job security, income/salary and expertise/ongoing learning, according to CompTIA. Their top three considerations for deciding where to live were overall cost of living, weather and climate and commute times.
- Millennials working in IT value salary slightly more and meaningful work slightly less than their Gen Z counterparts, according to CompTIA.
Dive Insight:
Tech skills are in high demand, making job security, less of a problem for tech workers these days. But the CompTIA survey results aren't the first time the issue of affordability has come up as a cost of living problem for tech workers.
A May report from Citrix Systems showed 75% of knowledge workers would relocate for financial reasons. Metropolitan areas and tech hubs like Silicon Valley, in particular, are expensive places for most employees to live and work, even for highly compensated tech workers.
The feasibility of relocation is also an issue for many people. More tech workers are reportedly looking at emerging tech hubs as future housing locations to stretch their dollars.
The high cost of living in Silicon Valley is driving many of them out and off to cities like Boston, Houston, New York and Austin, Texas. As of 2017, a one-bedroom apartment rented in San Francisco for as much as $3,000 a month and $2,500 a month in San Jose.
Remote work options are an emerging solution for tech employees who aren't required onsite 24/7. Nearly 70% felt that remote work would make them more focused and productive, according to the Citrix survey. Another 85% said they could perform their jobs just as well from anywhere.
