Northeastern opened its Silicon Valley hub in the fall of 2015 to help the region fulfill its workforce needs. The tech epicenter is world-renowned for innovation, entrepreneurship, and cultural growth. With Silicon Valley’s vibrant culture and growing job market, there’s no better place to earn a master’s degree.
Silicon Valley is known for its focus on STEM and other tech-related fields. There are more than 28,000 startups in the region alone, according to AngelList. Silicon Valley is home to numerous tech companies, including Apple, Facebook, eBay, Cisco, HP, Netflix, and TESLA Motors. In addition to its booming economy, Silicon Valley has a diverse community, with 37.5 percent of its population foreign-born.
The median salary is also much higher than almost anywhere else in the country, with an average worker commanding $125,580 per year, according to Joint Venture Silicon Valley Institute for Regional Studies. The study also showed that 22 percent of workers have graduate or professional degrees, compared to 11 percent of the U.S.
California state added 389,500 jobs in 2016, with 42 percent of them coming from the Bay Area. With its focus on innovation, no wonder job growth in the Bay Area is expected to grow 2.7 percent—compared to 1.2 percent nationally. Top fields in Silicon Valley include:
The top jobs in Silicon Valley include software application developers and web developers. Computer and information technology fields are expected grow 12 percent from 2014 to 2024—faster than the average for all occupations, according to the Bureau of Labor Statistics. The median salary for this field is $81,430, more than double the average wage of other occupations. A recent study also showed that STEM workers are more likely to say they are extremely satisfied and less stressed than those in other professions.
Project management roles are increasingly in demand in both Silicon Valley and on a global scale. By 2020, 15.7 million new project management roles will be created worldwide, with the industry expected to grow by $6.61 trillion, according to the Project Management Institute. According to Glassdoor, the median salary for project managers in Silicon Valley is $110,197. Popular industries include finance, healthcare, retail, insurance, and IT.
Data analytics positions are one of the fastest growing IT sectors, expecting to triple by 2020. With such rapid growth, it’s no wonder that average Bay Area salaries for experienced data scientists and engineers are $162,000 and $189,000, respectively. Given the continued growth in big data and security, salaries are expected to continue rising.
Now is the perfect time to jumpstart your future by earning an advanced degree. Visit our Silicon Valley website to learn how you can enhance your career today.