Tech Hiring in San Francisco Bay Area Continues to Gain Momentum
The technology industry continues to grow, go public and fill out commercial real estate in the San Francisco Bay, California area. Technology jobs in the San Francisco Bay area tend to be higher income, thus driving growth in other sectors of the economy.
Technology giants with a market value of more than $100 million, including Google Inc., Apple Inc. and Amazon.com increased their work forces by at least 50 percent over the past two years, according to Bloomberg Inc. data.
According to the data, some small and mid-size businesses boosted payrolls by almost fivefold, underscoring the resilient demand for internet services, software and electronics.
Rohit Dhingra who was recently hired by a Silicon Valley company that produces computer gear said “A few years back, it just would have been a slam dunk that you want to do investment banking.” Dhingra who went to Columbia Business School in New York in the hopes of being hired by in a consulting job said, “The future of financial services does not seem as bright.”
Dhingra joins thousands of workers who switched to technology careers during the economic slump. While unemployment dropped in other sectors, technology companies continued to expand their workforce by at least 10 percent. That was more than any other industry group measured by Bloomberg.
Silicon Graphics International Inc., headquartered in Fremont, CA, increased its employment by 372 percent to 1,500.
Riverbed Technology Inc., headquartered in San Francisco, CA, increased its employment by 208 percent and Cupertino-based Apple Inc., which started with a larger employee base, grew 76 percent. That amounted to 26,100 new jobs.
Riverbed uses a team of 20 people who scour the country for new hires.
“We operate it like a search firm,” said Mike Guerchon, senior vice president of employee services at the San Francisco based network-equipment company. “It’s a tough battlefield for talent all the time.”
Technology hiring will not slow down any time soon. Amazon and Facebook Inc. each plan to add thousands of jobs in 2012. Tibco Software Inc., headquartered in Palo Alto, CA, is recruiting for their next decade of growth is also stepping up their hiring.
“We are hiring quite rapidly now, all in sales and service,” Tibco Chief Executive Officer Vivek Ranadive said recently at the World Economic Forum’s annual conference in Davos, Switzerland. “It’s a good time to hire.”
Intel Corp. (INTC), the world’s largest chipmaker, increased its employment by almost 18,000 people in 2011. The hiring was driven by acquisitions and hiring in research and manufacturing.
The company says it hopes to grow its Santa Clara location to employ 1,500 workers.
Hiring in the tech industry is gaining momentum and does not appear to be slowing down despite concerns of a second bubble.
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