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Austin's a "brain drain" city for tech talent, but is that good or bad?

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2-SYDNEY: AUSTIN'S AUSTIN IS ONCE AGAIN A TOP 10 CITY FOR HAVING THE MOST TALENTED PEOPLE WORKING IN THE TECH INDUSTRY IT BEAT OUT OTHER TEXAS CITIES LIKE DALLAS-FORTH WORTH AND HOUSTON

2-ROBERT: THAT'S GOOD NEWS FOR LOCAL COMPANIES AND PEOPLE WHO ARE LOOKING FOR JOBS BUT AS KXAN'S YOOJIN CHO FOUND OUT, WHILE AUSTIN'S DOING A LOT OF THINGS RIGHT, THERE'S STILL ROOM FOR IMPROVEMENTSPENCER LEVY, CHAIRMAN OF AMERICAS RESEARCH & SENIOR ECONOMIC ADVISOR AT CBRE: "TALENT, INFRASTRUCTURE AND FOREIGN MONEY"CBRE'S SPENCER LEVY SAYS EXCELLING IN THOSE AREAS MAKE YOU A GREAT TECH CITY AUSTIN'S DOING WELL WITH VENTURE CAPITAL, BUT — SPENCER LEVY:"THE INFRASTRUCTURE IN AUSTIN NEEDS TO GET BETTER

I WOULD SAY THAT'S A FACTOR THAT MAY ULTIMATELY IMPEDE SOME FUTURE GROWTH FOR THE CITY"WITH TALENT — SPENCER LEVY:"AUSTIN IS A NET BRAIN DRAIN CITY EVEN THOUGH IT'S SUCH A WONDERFUL PLACE TO DO BUSINESS"DON FUSSELL, CHAIR OF UT AUSTIN'S DEPARTMENT OF COMPUTER SCIENCE: "THE NUMBER OF STUDENTS WE TRAIN IN AUSTIN VS THE NUMBER OF JOBS IS PRETTY HIGH"AT UT AUSTIN, ABOUT 40 PERCENT OF ITS COMPUTER SCIENCE GRADUATES STAY IN AUSTIN

THE DEPARTMENT CHAIR SAYS ABOUT 20 PERCENT GO TO THE BAY AREA ALEXA LARSEN, UT AUSTIN CLASS OF 2017: "I THOUGHT I WAS GOING TO STAY IN AUSTIN NEVER EVER THOUGHT I WOULD LEAVE AUSTIN TO BE HONEST"ALEXA LARSEN WENT TO UTSHE NOW WORKS AT A TECH COMPANY IN SAN FRANCISCO

SHE SAYS NO MATTER WHERE YOU GO, FOR 20-SOMETHING'S — ALEXA LARSEN:"IT'S SUPER COMPETITIVE"PAUL TOPRAC, ASSOCIATE PROFESSOR OF INSTRUCTION AND DIRECTOR OF GAME DESIGN:"THE GAME INDUSTRY LIKES TO ALWAYS HIRE SENIOR TALENT THEY ALWAYS LIKE TO GO FOR, HUNT FOR SENIOR TALENT, AND I'M ALWAYS TRYING TO GOOD TO BE A FARMER AND YOU RAISE SOME GREAT TALENT"LEVY SAYS SEEING SO MANY GRADUATES LEAVE — SHOWS THERE'S STILL ROOM FOR AUSTIN'S TECH INDUSTRY TO EXPANDPAUL TOPRAC:"AUSTIN NEEDS TO CONTINUE TO GROW AND GROW ITS COMPANIES"SO THEY CAN HIRE EVEN MORE PEOPLE YOOJIN CHO KXAN NEWSROBERT: ACCORDING TO THE C-B-R-E'S REPORT, AUSTIN ADDED 3- THOUSAND TECH JOBS IN ONE YEAR – BRINGING THE TOTAL NUMBER TO MORE THAN 72-THOUSAND BUT WE'RE STILL CONSIDERED A SMALLER MARKET FOR PERSPECTIVE, THAT'S ONE FIFTH OF THE TOTAL NUMBER OF TECH JOBS IN THE SAN FRANCISCO BAY AREA

ROBERT:STARTING SALARIES ARE A LITTLE DIFFICULT TO NAIL DOWN AMONG TECH COMPANIESBUT SOME FRIENDS CREATED LEVELS- DOT-F-Y-I TO CROWDSOURCE EMPLOYEES' SALARIES IN SILICON VALLEYBASICALLY, PEOPLE SEND THEM THEIR EMPLOYMENT HISTORY, LEVEL, SALARY, AND COMPENSATIONAND THE WEBSITE TRACKS AND CALCULATES WHAT A PERSON AT A CERTAIN LEVEL SHOULD MAKESO WE PICKED THREE DIFFERENT COMPANIES THAT HAVE A LARGE PRESENCE IN AUSTIN

GOOGLE ENTRY LEVEL ENGINEERS, OR L3S, TOTAL $188-THOUSAND DOLLARS IN COMPENSATIONTHAT'S SALARY, STOCK, EVERYTHINGTHE SIMILAR EXPERIENCE LEVEL FOR FACEBOOK EMPLOYEES CHECKS IN AT ABOUT $170-THOUSAND A YEAR AND APPLE ENTRY LEVEL GRADS SEE CLOSER TO $160-THOUSAND DOLLARSSYDNEY:LOCAL TECH COMPANIES ARE BRINGING IN TALENT BECAUSE WORKERS CAN GET MORE BY LIVING IN AUSTIN

HIREDCOM LOOKED AT THE INDUSTRYONLY FIVE MARKETS HAVE A HIGHER AVERAGE STARTING SALARY THAN AUSTIN THIS YEAR SAN FRANCISCO TAKES THE TOP SPOT AT $145-THOUSAND DOLLARS A YEARAND HERE'S WHAT THE AVERAGE WORKER'S SALARY WOULD BE, IF ADJUSTED FOR THE COST OF LIVING IN SAN FRANCISCO

AUSTIN, BY THIS STANDARD, IS CLEARLY THE BEST AT MORE THAN $200-THOUSAND DOLLARSTHE CLOSEST EQUIVALENT IS DENVER AT MORE THAN $180-THOUSAND

Source: Youtube

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