Forget Silicon Valley: Tech pros ready to relocate for affordability, quality of life

RESEARCH TRIANGLE PARK – Apparently, not everyone is so obsessed with living and working in the high-tech mecca of Silicon Valley these days.

According to a new study from the Computing Technology Industry Association, or CompTIA, around 78% of tech workers would consider leaving their current city for a new job, citing affordability (60%) and local economy (56%) as major factors driving the decision.

Based on the study titled Tech on the Move, tech workers ranked three factors as most important when choosing where to live:

cost of living (82%)
weather and climate (64%)
commute times (62%)

When it comes to choosing an IT job, they ranked job security (73%) and income/salary (69%) as most important.

This can only mean good news for the Triangle.

Good news for job seekers – high-tech job openings up 14% from 2018 across NC

With a tight labor market – nearly 30,000 jobs open in North Carolina and more than 260,000 new IT jobs opening in the United States last year alone – the hunt for tech talent is fierce. But if “Best of” lists are anything to go by, then Raleigh-Durham can compete.

The region consistently ranks as one of the top “tech towns,” factoring in salaries, job availability, job growth and cost of living.

Study: Raleigh No. 3 city for tech workers, Chapel Hill 30, Durham 43; average pay: $91,000

Does making an impact matter to you?

The study also provided insight into what the youngest tech workers look for in a career – and the answer isn’t just higher salaries.

As Gen Z enters the workforce – and has a strong interest in IT jobs – they place more value on the societal impact of their work – 48% compared to 38% of Millennials. When it comes to high salaries, Gen Z respondents placed less importance on high salaries — 60% compared to Millennials at 74%.

Durham No. 7, Raleigh No. 8, Charlotte No. 6 on best cities to start a business list

While career aspirations differ, both Gen Z and Millennial IT pros say cost of living is the most important factor when choosing where to live and work. Gen Z workers also cited affordable housing and proximity to restaurants and bars as top three factors, while Millennials cited commute times and climate.

Location, Location, Location

As the tech industry seeks to expand the universe of those who see a career for themselves in IT – including encouraging more women to pursue careers in tech – the study revealed differences between men and women tech workers when it comes to importance of location and income.

Around 55% of women tech pros rank location as very important compared to 43% of men. In regards to salary, around 74% of women tech pros rank it as very important, compared to 66% of men.

Will you move for an IT Job?

Ultimately, CompTIA said the study showed that as technology continues to spur job growth in new regions, the tech workforce “is mobile and willing to relocate for the right job.”

With tech thriving in areas far beyond traditional coastal hubs, IT pros have “more opportunity and choice than ever for where to advance their careers.”