San Francisco is a major city in California and a hub for technology and innovation. Many big tech companies like Google, Facebook, and Apple have headquarters or major offices in the San Francisco Bay Area. This brings lots of high-paying tech jobs to the region. But is it actually easy to find a job in San Francisco? There are a few key factors to consider.
Job Market in San Francisco
The job market in San Francisco is quite strong overall. As of August 2022, the unemployment rate in San Francisco was just 2.9% according to the Bureau of Labor Statistics. This is lower than the national unemployment rate of 3.7%. There are over 775,000 people employed in San Francisco across many industries like technology, healthcare, tourism, retail, finance, and more.
San Francisco saw over 15,000 new job openings posted in August 2022 across multiple fields like software engineering, sales, marketing, operations, design, and more. Some of the top companies hiring include Google, Meta, Salesforce, Doordash, Uber, Airbnb, Wells Fargo, Gap Inc., and more.
The presence of major tech companies and startups in the region means lots of job opportunities for tech roles like software developers, product managers, data scientists, designers, and more. There is also demand for non-tech roles like sales, marketing, human resources, operations, finance, and more to support the large workforce.
Salaries in San Francisco
Jobs in San Francisco tend to pay well on average. According to the Bureau of Labor Statistics, the average annual salary in the San Francisco metro area is $103,550 as of 2021. This is significantly higher than the national average annual salary of $66,100.
Technology jobs pay particularly well in San Francisco. For example, the average base salary for a software engineer is around $155,000 in San Francisco according to Glassdoor. Product managers make around $170,000 on average. Other high paying tech jobs include data scientists, DevOps engineers, designers, and more.
Even many non-tech occupations like marketing, sales, operations, and human resources tend to pay above-average salaries in San Francisco compared to national averages. However, government and education roles tend to pay below private sector salaries.
Cost of Living in San Francisco
While salaries are high in San Francisco, so is the cost of living. San Francisco has one of the highest costs of living of any U.S. city. As a result, salaries don’t always stretch as far.
Housing is by far the biggest expense. The median apartment rent in San Francisco is over $3,500 per month according to RentCafe – more than double the national average. Buying a home also carries a huge price tag, with the median home sale price over $1.5 million.
Other basic necessities like groceries, utilities, transportation, healthcare, and taxes are also more expensive compared to the national average. While salaries balance things out at higher income levels, lower or mid-range salaries don’t go as far in San Francisco.
Competition for Jobs
With a strong job market and high salaries, San Francisco attracts a lot of job seekers. This means increased competition for many roles, especially at top companies.
For example, software engineer roles at companies like Google or Facebook can get hundreds of applicants or more per opening. According to Hired’s 2022 Tech Salary Survey, the average software engineer job opening attracts 150 candidates.
Marketing, sales, design, and other creative roles at tech companies also tend to get highly competitive. Startup jobs tend to attract fewer applicants, but the most desirable startups still see lots of interest.
While not always the case, applicants may need to showcase high-quality work experience, education credentials, and/or interview performance to stand out from the competition for some roles in San Francisco.
Job Search Tips for San Francisco
Here are some tips for finding a job in the San Francisco market:
- Leverage your network – Referrals can give a major boost for competitive roles.
- Emphasize technical skills – For tech roles, highlight specific languages, frameworks, tools, etc. on your resume.
- Prepare for tough interviews – Expect multiple rounds and complex technical questions.
- Focus on culture fit – Tech companies emphasize teamwork and culture.
- Consider relocation – Wider location options can expand opportunities.
- Use recruiting services – Contract tech recruiters to advocate for you.
- Attend tech events – Conferences, meetups, hackathons, etc. can connect you to companies.
- Polish online profiles – Github, StackOverflow, LinkedIn, personal websites, etc.
- Apply strategically – Target roles, companies, and locations meticulously.
- Consider startups – Small companies have fewer applicants per opening.
With preparation and persistence, it’s certainly possible for qualified candidates to find job opportunities in San Francisco. But the high cost of living and competitive demand make it more challenging than other markets.
Job Growth Projections
Looking at future job growth can provide insight into industries and roles that may be easier or harder to find openings in.
The California Employment Development Department (EDD) provides projections for job growth by occupation and industry in the San Francisco metro area from 2016 to 2026. Here are some of the projections:
| Occupation | 2016 Jobs | 2026 Projected Jobs | Total Change | Annual Growth Rate |
|---|---|---|---|---|
| Software Developers | 114,700 | 147,000 | 32,300 | 2.50% |
| General Operations Managers | 38,400 | 43,000 | 4,600 | 1.10% |
| Accountants and Auditors | 33,000 | 36,500 | 3,500 | 1.00% |
| Market Research Analysts | 14,200 | 17,700 | 3,500 | 2.20% |
The table shows that software developer job growth is projected to be strong at 2.5% annually, adding over 32,000 new jobs by 2026. Market research analysts also have a high projected growth rate. General operations managers and accountants have steadier projected growth around 1% per year.
Looking at industries, the EDD projects the Professional, Scientific, and Technical Services industry to add the most new jobs from 2016 to 2026 at over 163,000. The Information industry including tech is projected to add over 30,000 new jobs in the region. Healthcare, Accommodation/Food Services, and Construction are other major growth industries.
Conclusion
The job market in San Francisco has a lot of opportunity, especially in the tech sector. High salaries help balance the extremely high cost of living for in-demand roles. However, competition is fierce for jobs at top companies and startups. While technical skills are critical, focus on networking, company culture, and preparation for challenging interviews.
Growth is projected to remain strong in high-paying software developer and tech-related roles. Applicants may find better odds looking at startups rather than major established companies. Leveraging connections can be hugely beneficial when trying to stand out from the crowd.
The high costs along with competitive job search dynamics make San Francisco a challenging city for finding work. But for qualified candidates in growing fields like tech, the rewards can be worth the effort and trade-offs required to build a career in San Francisco.
