Millennials make up over a quarter of the U.S population which brings an estimate to over 80 million people. They compose a growing number of people in the tech industry and they are at the forefront of shaping our future in terms of innovation.
The heart of the tech industry in the United States is known to be located in Silicon Valley particularly the Bay Area. Bay Area’s technology sector is growing faster than the pinnacles of the dot-com era that happened over 20 years ago. State labor statistics of California shows that there were over 831,000 technology jobs in the region at the end of April. Data also indicates that over the last two decades, the technology sector was one of the biggest engines of the economy of the Bay Area.
Before you pack up your stuff to move and join this fastest-growing tech scene, let’s get to the bottom of it by finding out the advantages and disadvantages of living and working in the Bay Area.
Pros
- Job demand is high. The good news is that if you are a tech person, the demand for tech jobs is very high. So finding employment would be relatively easier than if you would search somewhere else in the nation. Also the compensation is pretty high with an average starting salary of $111,000 for software engineers.
- You’ll work with very talented and smart people. Silicon Valley attracts many Ivy League graduates and very talented tech people from around the globe. If you got hired, you’ll be surrounded with very bright and knowledgeable people.
- Networking opportunities. There are countless number of conferences, meetups and events that you can join to meet new people. This will open up new opportunities to you that would be beneficial in your career.
- Working at the top companies. Why the best and brightest people are willing to work in Silicon Valley? It’s because there are many prestigious companies out there such as Visa, Chevron and Wells Fargo.
- Great climate and so much to do. Being a Millennial, you are between the age of 18–34 and that means you are young, energetic and willing to have lots of fun. Having a good weather and plenty of places to hangout is all you can crave for. The Bay Area is known for having a consistent temperature of above 50 degrees and below 80 degrees Fahrenheit which means it rarely gets very cold and hot.
Cons
- High cost of living. San Francisco is known to be one of the most expensive cities to live in the U.S, and if you ever plan to purchase a house, expect spending upwards of $700,000 on average. Besides that transportation and healthcare would take a big chunk of your monthly expenses. Most Millennials are known to have huge amounts of debt such as student loans, credit card debt and not much savings. So even if you make a 6 figure income, living costs are insane in the Bay Area.
- Working long hours. Due to the competitiveness of the industries and high salaries that people get, expecting to work long hours is a normal thing. Long hours often leads to burnout and that can have a negative toll on your health. One of the challenges working in the Bay Area is that the job is rarely done. You’ll have always something to work on that pops up anytime.
- No job security. Nine out of ten startups fail, so it’s definitely gives you a senses of instability working for those tech startups. If you can’t digest having a high risk of losing a job, you should reconsider joining to work for a startup.
Now as you have a better picture of living and working in the Bay Area, you are better equipped with the knowledge that you need to make things work for you.
