Workers in science, technology, engineering, and mathematics are seeing a very bright and prosperous future ahead, and certain cities are welcoming them with open arms…
It’s not “revenge of the nerds” anymore – it’s complete domination.
You see, when it comes to employment success nowadays, the geeks are flying high above everyone else.
Armed with degrees in computer science, software engineering, computer engineering, information technology, and information systems, fresh college graduates are able to position themselves for incredibly lucrative and rewarding job opportunities once they transition from backpack to briefcase.
In particular, these graduates are seeking out ‘STEM’ jobs – jobs that require expertise in Science, Technology, Engineering, and Mathematics.
It is within the realm of STEMs that we are seeing not only steady growth in employment numbers in recent years, but a dramatic spike in salaries as well.
Last month, Bloomberg ranked US metropolitan cities that employed at least 100,000 STEM-related professionals, based on their pay increases since 2008.
Data was pulled from the Bureau of Labor Statistics and the rankings are as follows:
10) Philadelphia, PA
2013 STEM Pay: $76,689
Increase in STEM Pay: $7,681
% Increase in STEM Pay: 11.1%
2013 STEM total employment: 116,700
Change in STEM employment, headcount: -5,510
% Change in STEM employment: -4.5%
The City of Brotherly Love certainly has love for STEM professionals.
While there aren’t any super well-known tech firms headquartered in Philly, it’s definitely building a reputation as a thriving startup hub.
The city is home to a number of co-working spaces and incubators that are geared towards nurturing tech entrepreneurs hoping to someday hit the VC jackpot.
Notable Stocks: EPAM Systems Inc. (NYSE:EPAM), Auxilium Pharmaceuticals (NASDAQ:AUXL), PhotoMedex Inc. (NASDAQ:PHMD), InterDigital Inc. (NASDAQ:IDCC)
9) New York-White Plains-Wayne, NY/NJ
2013 STEM Pay: $83,734
Increase in STEM Pay: $8,230
% Increase in STEM Pay: 10.9%
2013 STEM total employment: 242,990
Change in STEM employment: -16,440
% Change in STEM employment: -6.3%
Though the area experienced the largest decrease in STEM jobs out of Bloomberg’s list, NYC still boasts the second largest employment numbers.
In the last few years, companies such as eBay and Microsoft have set up shiny new digs in the Big Apple. Google and Facebook also recently opened up corporate offices in “Silicon Alley”.
And when it comes to getting in front of VCs and financiers to bankroll tech startups, New York is where budding nerds want to be.
Notable Stocks: Verizon Communications (NYSE:VZ), L-3 Communications (NYSE:LLL), ABM Industries (NYSE:ABM), Sirius XM (NASDAQ:SIRI)
8) Los Angeles-Long Beach-Glendale, CA
2013 STEM Pay: $84,074
Increase in STEM Pay: $9,250
% Increase in STEM Pay: 12.4%
2013 STEM total employment: 200,960
Change in STEM employment: 1,810
% Change in STEM employment: 0.9%
Nevermind Silicon Valley…bring on Silicon Beach.
There’s something to be said about going to work in a region where the sun is always shining.
In the mid-nineties, when the Internet boom was all the rage, SoCal was second only to Silicon Valley in terms of the amount of VC investments raised.
The warm weather and large pool of engineering grads may help to explain why so many big employers call LA home.
Notable Stocks: DirecTV (NASDAQ:DTV), Health Net Inc. (NYSE:HNT), Jacobs Engineering (NYSE:JEC), AECOM Technology (NYSE:ACM), Activision Blizzard (NASDAQ:ATVI)
7) San Diego-Carlsbad-San Marcos, CA
2013 STEM Pay: $81,957
Increase in STEM Pay: $9,323
% Increase in STEM Pay: 12.8%
2013 STEM total employment: 109,770
Change in STEM employment: 11,080
% Change in STEM employment: 11.2%
San Diego was given the distinction of being the number one city to launch a startup in 2014 by Forbes.
And with its close proximity to Tijuana, Mexico which itself is becoming a strong near shore destination for US manufacturers, the region has been dubbed the “Cali-Baja Mega-Region” and is fast-becoming its very own Silicon Valley.
San Diego is also one of the top centers for health care and clean technology businesses.
Notable Stocks: Qualcomm (NASDAQ:QCOM), Acadia Pharmaceuticals (NASDAQ:ACAD), Illumina Inc. (NASDAQ:ILMN), ResMed (NYSE:RMD), CareFusion Corp (NYSE:CFN)
6) Phoenix-Mesa-Glendale, AZ
2013 STEM Pay: $72,168
Increase in STEM Pay: $9,548
% Increase in STEM Pay: 15.2%
2013 STEM total employment: 108,910
Change in STEM employment: 10,090
% Change in STEM employment: 10.2%
When it comes to work-life balance, it’s quite hard to beat the Arizona lifestyle.
Warm climate and low cost of living makes Phoenix a very attractive option for businesses to set up shop compared to New York or Santa Clara.
With a housing market still one of the most affordable in the entire country and a jobs market that’s showing signs of improvement, Phoenix is definitely flying under the radar.
Notable Stocks: Avnet Inc. (NYSE:AVT), First Solar Inc. (NASDAQ:FSLR), Medicis Pharmaceutical (NYSE:MRX), ON Semiconductor Corp (NASDAQ:ONNN), Microchip Technology Inc. (NASDAQ:MCHP)
If you thought that these were the heavy-hitters in the STEM industry, we’re only halfway down the list.
Stay tuned for our final installment, as we reveal the top 5 most STEM savvy cities in America.
- What The Top 10 “STEM” Jobs Could Mean For These Cities And The Tech Stocks That Call Them Home – Part II
- Everything That’s Small is Still Bigger in Texas
- Cash-in On The Top Housing Markets With These Two Housing Stocks
- What The World’s Most Populated Cities Means For This Blue Chip
- Two Top Stocks To Buy As The ‘Internet of Things’ Grows