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Minneapolitans as a whole keep up with tech’s high salaries

  • ​Outside of healthcare practitioners, attorneys and CEO’s tech occupations have a reputation for some of the highest salaries among the widest workforce. This swath of earners often stands above the remaining workforce putting upward pressure on various local markets. 

  •  Minneapolis-St. Paul however boasts a diverse economy where the gap is less prevalent.  Sitting on a broad foundation of economic drivers, the MSA possesses one of the nation’s top ten highest per capita incomes (9th). As plotted above, Minneapolis-St. Paul has the smallest gap between annual tech salaries and the outstanding market salary among our set of peer-markets. An added metric compares the percent of annual salary required to cover each market’s annual rent cost for tech workers and the total workforce.

  • In terms of direct salary to rent ratios Minneapolis-St. Paul still sits middle-of-the-road. On average, the typical tech employee would spend 18 percent of their salary on rent compared to Charlotte’s 15 percent and San Francisco’s 36 percent. 

Source: JLL Research, BLS, Axiometric

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