Philadelphia experienced the highest change in average tech salary compared to other major cities across the United States, including regions that are considered to be tech havens like Silicon Valley.
The average tech salary in Philadelphia increased by 11.9% from 2021 to 2022, Axios Philadelphia reported. Dallas/Fort Worth saw the second highest increase in tech salaries with an increase of 11.3%, followed by Denver at 10.6% and Washington, D.C. at 7%.
The data was collected in a study performed by the tech and sales job recruiting company Hired. The report analyzed proprietary data including over 907,000 interview requests across more than 47,750 positions.
Despite having the largest increase in average tech salary, Philadelphia still fell when it came to the average annual tech salary — $142,500 — compared to $174,000 in the San Francisco Bay Area, $168,000 in Seattle, and $161,000 in New York City, according to Hired's report.
A separate study by commercial real estate company Cushman & Wakefield compiled a list of tech companies that have either a headquarters or a large presence in Philadelphia. At the top of the list was Comcast, followed by medical device company Siemens Healthineers and information technology and consulting company Unisys.
Companies founded in Philadelphia also have a large tech presence in the city, including food delivery company GoPuff, which ranked ninth on the study’s list.
Philadelphia is still a budding city in the technology industry, according to Axios. Philadelphia holds the appeal of a lower cost of living and convenient transportation, which is attracting more workers. Hired CEO Josh Brenner told Axios that he anticipates “heightened growth” for Philadelphia and its tech salaries as more workers move to the city.
Industrial growth in University City has also taken place recently, with increased development in the life sciences field. A new building located at 38th and Chestnut streets that will house life science research and office space is in the works.
Additionally, the land currently containing the University City Townhomes — which Penn students and West Philadelphia community members are protesting to preserve — has drawn the attention of companies looking to develop life sciences spaces there.