23 July, 2018
Nearly 6 million highly skilled workers across the U.S. and Canada comprise the tech talent that is leading global innovation by developing the software and devices we depend on and managing the data and systems that ensure functionality of our tech ecosystems.
Dive deeper into the data using CBRE's interactive Tech Talent Analyzer. Explore market rankings, labor pool size, growth and cost structures. Use filters based on your unique needs to compare markets and get a detailed market profile.
Key Insights
SCORE: The top-ranked tech talent markets
Thirteen metrics measured each market’s depth, vitality and attractiveness. The top-ranked markets are the San Francisco Bay Area, Seattle and Washington, D.C. Markets registering the greatest rise in the rankings are Cleveland, Columbus and San Diego.
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MOMENTUM: The fastest growing tech talent markets
Tech talent job growth has accelerated in 23 of 50 markets, with notable surges in Ottawa, Los Angeles and Madison, Wisconsin.
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TALENT: Supply, demand and the quality conundrum
The number of tech degree graduates (supply) compared with tech talent job creation (demand) in each market to determines whether there is a brain gain or a brain drain. Boston and Washington, D.C. produce more tech talent supply than demand (brain drain), while Toronto, the San Francisco Bay Area and Charlotte create more tech jobs than tech graduates (brain gain).
Quality tech talent is becoming costlier and is creating a conundrum of how to balance these two decision drivers. The number and concentration of top-tier software engineers in each market were weighed against compensation costs. The San Francisco Bay Area and Seattle score highest for both quality and cost. The best value markets are in Canada and the Midwest.
OPERATING COST: The highest and lowest cost markets
The typical 500-person tech company needing 75,000 sq. ft. of office space can expect a total annual operating cost to range from $27 million in Montreal to $59 million in the San Francisco Bay Area.
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REAL ESTATE: Tech job growth creates demand
Tech talent growth, primarily within the high-tech industry, has generated significant real estate demand and when highly concentrated in a market often put upward pressure on prices and creates opportunities for new development.
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Get in Touch
Colin Yasukochi
Director of Research and Analysis
Research
Lexi Russell
Manager, Research & Analysis
Spencer Levy
Americas Head of Research
CBRE VANTAGE
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