Silicon Valley pay plummets

Posted by Emma Woollacott

Silicon Valley wage levels have tumbled in the last ten years, falling by almost 14 percent.

Average pay for technology workers was $105,500 in 2009, compared with $120,064 in 2000, according to the US Bureau of Labor Statistics.

With the bursting of the dot-com bubble, says the Bureau, Silicon Valley has lost 134,000 jobs since 2000. As of last June, total high-tech employment stood at about 416,000 - around the same as in 1998, and well below the 2000 peak of 544,000.

The biggest drop in wages was in computer manufacturing, where pay fell by 44 percent between 2000 and 2004, to about $126,000 a year, although it's since risen slightly to $127,214.

Semiconductor manufacturing pay has also slid, dropping from $115,241 in 2000 to $91,547 in 2008.

But even allowing for the pay cuts, Silicon Valley workers have something to be grateful for, as they earn some 60 percent more than similar workers elsewhere in the country.