Silicon Valley Salaries Drop
The average salary in California´s Silicon Valley dropped six percent from early 2001 to mid-2002.
A new study by Joint Venture: Silicon Valley Network says nation´s technology hub lost nine percent of its jobs in the same period.
The study says the average annual salary in Silicon Valley in the middle of last year was $62,500. That´s far above the nation´s average pay of $38,400 – but it´s a steep drop from the peak of $79,800 in 2000.
Mass layoffs and company closures also cut the region´s job market. Silicon Valley lost 127,000 positions between the first quarter of 2001 and the second quarter of 2002. The survey found that losses were most severe in software, semiconductors and computer hardware.