Los Angeles, CA

Los Angeles/Orange County Ranks #14 In CBRE’s Annual ‘Scoring Tech Talent’ Report

The region produced the second-highest number of tech degree graduates and added 36,650 tech jobs between 2017 and 2022.

July 18, 2023

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The Los Angeles/Orange County region ranks No. 14 overall in CBRE’s 2023 Scoring Tech Talent report, as macroeconomic headwinds slowed tech talent hiring by major tech firms in North America, according to a new report from CBRE.

Overall, the U.S. and Canada added a net 760,000 tech talent jobs since 2020 across established hubs such as the San Francisco Bay Area, New York, Seattle and Vancouver as well as smaller markets like Nashville, Cleveland and Canada’s Waterloo Region. The number of U.S. tech talent workers increased 7.3% from May 2021 to May 2022, which is significantly higher than the 5% growth in total U.S. employment in May 2022. Software developers and programmers across all industries accounted for more than half of the new tech talent employment.

Los Angeles/Orange County stood out in the report as a top education market, producing the second-highest number of tech graduates from 2017 to 2021 (69,293), behind only the New York Metro (101,687).

“Los Angeles and Orange County have benefited from the region's premier educational institutions that are producing a fast-growing pool of highly skilled tech talent,” said Jeff Pion, a Vice Chairman with CBRE in Greater Los Angeles. “The region’s desirable lifestyle and wide-ranging job opportunities are additional draws for tech talent to remain here. These variables have created an environment where tech companies and non-tech companies are confident their current and future talent needs can be met.”

CBRE’s annual Scoring Tech Talent report covers 75 North American markets, ranks the top 50 tech markets in the U.S. and Canada and outlines tech talent labor market trends amid economic shifts and increased remote hiring. CBRE also ranks the Next 25 emerging tech markets on a narrower set of criteria. Tech talent is defined as 20 key tech professions – such as software engineers and systems and data managers – across all industries.

For the first time this year, CBRE’s report examines tech talent wages paid by tech companies based on geography. Los Angeles/Orange County had the 10th highest average annual wage among large markets for tech talent employed by tech companies ($102,172). The San Francisco Bay Area and Seattle had the highest average wages, while Sacramento and Jacksonville were the highest among small markets.

Los Angeles/Orange County stood out in the report in several other key areas:

  • Los Angeles/Orange County’s tech talent workforce grew by 17 percent from 2017 to 2022, reaching 249,620 workers. This makes it the fifth-largest tech talent workforce in North America.
  • The region produced 42,263 more tech degrees than tech jobs between 2017 and 2022, making it the top education market. This means that the region has a robust tech talent pipeline for companies looking to expand and relocate.
  • The average tech talent wage in the region has increased by 20% between 2017 and 2022, with tech workers earning $112,905 on average.

California’s Inland Empire is also included in the report among small tech markets of less than 50,000 workers. The Inland Empire added 8,210 tech jobs between 2017 and 2022 at a growth rate of 44%. Additionally, the Inland Empire ranked in the top 10 most concentrated markets for software engineers working in the tech industry (54.7%). For underrepresented race/ethnic groups, Inland Empire was the fourth most-diverse market for tech degree graduates out of the top 50 markets.

To download the full report, click here.

Additionally, CBRE’s latest tech talent analyzer provides an interactive, in-depth comparison of tech talent in different markets. For more information, click here.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.