Tech Salaries Hit $125K Average as L.A. County Works Toward 'Inclusive Economic Growth'

Joe Bel Bruno
Joe Bel Bruno is dot.LA's editor in chief, overseeing newsroom operations and the organization's editorial team. He joins after serving as managing editor of Variety magazine and as senior leadership in spots at the Los Angeles Times, Wall Street Journal and Associated Press. He's a veteran journalist that loves breaking big stories, living back in L.A., a good burrito and his dog Gladys — not necessarily in that order.
Tech Salaries Hit $125K Average as L.A. County Works Toward 'Inclusive Economic Growth'

Los Angeles County, a Southern California slice of America where 10 million residents churn out an economy rivaling most nations, appears at at a tech employment inflection point.

The Los Angeles Economic Development Corp. reported Wednesday that it expects a 4.3% unemployment rate this year — a razor-sharp margin from what county economists projected 12 months ago. The national unemployment rate now hovers at 3.6%, and California a few ticks higher.


The number of Angelenos expected to secure new jobs this year should hit about 50,000, according to calculations done via reports and statistics. But, as California's unemployment rate is stacked up against the national average, the LAEDC is flashing concerns about the right kind of jobs fueling the Golden State's economy.

The tech takeover — from automated HR departments to Hollywood's streaming prowess — is taking hold. And it's leaving California's prognosticators wondering where employment is going.

"Policymakers truly keen on ensuring sustainable and inclusive economic growth will need to focus not only on making Los Angeles ready for technology- and service-oriented work (and shielding them from the worst ravages of automation)," according to the report that dot.LA reviewed and will be released on Wednesday at an event in downtown Los Angeles.

"But they must also focus their efforts on measures that help more Angelenos afford decent (homes) for themselves and their families."

Indeed, the LAEDC reports that tech jobs — including all the Hollywood careers created by streaming and digital platforms — are among the top wage earners. The report lists software/developers/apps salaries at an average of $113,700 a year, while software/developers/systems jobs hit $124,500 a year.

Among the lowest earners in the payroll report by the LAEDC, waiters took home an average of $25,000 a year; cashiers garnered $24,700; and broader laborers in Los Angeles County received about $28,000 in compensation.

The LAEDC also weighed in on housing costs as part of the county's broader financial issues.

The commission reported that the average price of a home in L.A. county tipped in at $600,000. Building permits in the county dropped from 107,433 last year to a projected 92,000 in 2021.

"This failure to produce adequate housing supply will translate into higher median home prices," according to the report. "While there are any number of reasons why people choose to leave the state, or to put off having children, the dominant story is one of a housing markets so overheated that it is becoming increasingly less practical for those who do not already own a home to buy one."

Subscribe to our newsletter to catch every headline.

Cadence

MyFitnessPal’s Tricia Han on How Cultural Understanding Strengthens Health Data

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

Tricia Han
Image courtesy of Tricia Han

On this episode of Office Hours, MyFitnessPal CEO Tricia Han discusses her role revitalizing the company and redefining its mission during a time of uncertainty for the company.

“I love a good reboot,” she said. “Let me just say that. That's how I came to be at the company.”

Read moreShow less

LA Tech ‘Moves’: Harbinger Taps Tesla Exec, REAL Messenger Gains Meta Director

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Harbinger Taps Tesla Exec, REAL Messenger Gains Meta Director
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

***

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending