Despite the growth of the Silicon Alleys, Gulches, and Prairies, the original Silicon Valley is still the destination of choice for many college graduates. Bob Thirsk, director of Stanford University's Career Development Center, estimates that 75 percent of Stanford's computer-science majors stay close to home in the Silicon Valley area. The Bay Area is the center of many of the world's leading high-tech companies, claims the most perfect weather in the country, and is host to what seems like daily headlines of two guys starting multimillion dollar corporations in their garage. Still, before you pack your bags, heed these warnings.
The cost of living in the Silicon Valley is more than you think. Because of the high cost of living, your salary will not go as far as in other areas of the country. For example, according to Yahoo!'s Salary Comparison (http://realestate.yahoo.com/), a salary of $50,000 in San Jose, California, is comparable to $45,614 in Boston, Massachusetts; $34,827 in Raleigh, North Carolina; and $31,850 in Atlanta, Georgia. Still, the Silicon Valley is not quite as pricey as New York City, with a comparable salary of $75,064!
In addition, while jobs may be seemingly plentiful in the Valley, housing is not. "There's all this demand for jobs, but housing is becoming one of the key pressure points of living here. Often the most difficult thing is not finding a job but finding a place to live," said Jim McCarthy, a senior producer for Yahoo! Real Estate, based in Santa Clara, California.
It can be a challenge to find an apartment in Santa Clara County, the heart of the Silicon Valley, for less than $1000. A search through classifieds listings in the San Jose Mercury News (http://classifieds.sjmercury.com/) produces three typical listings for apartments in Santa Clara: a one-bedroom, one-bathroom apartment for $800; a two-bedroom, one-bathroom apartment for $1100; and a two-bedroom, two-bathroom apartment for $1475.
What keeps high-tech college graduates coming despite the high costs of living are the jobs. Many Bay Area experts don't see the end of the demand for high-tech grads near.
"The trend will most likely change if and when the demand for computer-science majors diminishes. That will make it necessary for them to look at a broader area to relocate. I don't see that any time in the near future," said Thirsk.
-- K.T.
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