In 2024, professionals from the IT industry earned the highest wages in California, Silicon Valley, with an average of nearly *** thousand U.S. dollars. Other leading states in terms of highest average salary included Baltimore/Washington D.C., Los Angeles, and New York. Overall, tech salaries in Silicon Valley saw a ***** percentage point decrease in average compensation compared to the previous year, while the Baltimore/Washington D.C. area saw a growth in average compensation by nearly *** percentage points compared to 2023.

Meta Platforms had ****** full-time employees as of December 2024, down from ****** people in 2023. As of December 2023, more than ******* employees at tech companies worldwide were laid off throughout the year across more than 1,000 companies. Facebook: how it all beganIn 2003, a sophomore at named Mark Zuckerberg hacked into protected areas of the university's computer network in order to find photos of other students. He then would pair two of them next to each other on a program called “Facemash” and ask users to choose the more attractive person. At the beginning of 2004, Zuckerberg launched “The Facebook,” a social network dedicated to Harvard students, which later grew to encompass Columbia, Yale and Stanford. The popularity of this new service sky-rocketed and in mid-2004, Zuckerberg interrupted his studies and moved his operation to Palo Alto, California, in the heart of Silicon Valley. By 2006, Facebook was open to the general public. In 2020, the company reported almost ** billion U.S. dollars in revenue and a net income of ***** billion US dollars. It is also the most popular social network in the world, with *** billion monthly active users as of December 2020. Facebook employee diversity criticismLike many other tech companies, Facebook has been criticized for having a diversity problem. As of June 2020, tech positions, as well as management roles in U.S. offices were overwhelmingly occupied by men. Furthermore, almost ** percent of Facebook employees in the U.S. are White and only *** percent are African-American, which has sparked concern regarding representation and equal opportunities. Around **** percent of senior level positions are occupied by White employees and only *** percent by Hispanic-Americans.

This statistic shows the comparison of selected office markets in North America in 2017, by space assigned per person. The annual space assigned per person in Silicon Valley was **** square meters in 2017.

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In 2023, the United States tech sector contributed nearly *** trillion U.S. dollars to the country's overall gross domestic product (GDP), making up approximately *** percent of total GDP. Since 2018, the tech sector's yearly percentage of total GDP has remained relatively consistent.

Tech Mahindra Limited, a subsidiary of Mahindra Group, had over *** thousand employees in the fiscal year 2023. The Indian technological giant had *** offices spread across more than ** countries including India, Europe, Australia, and Africa, the company showed a strong international presence.

World’s largest IT-BPM destination

 By offering a wide range of technological services, India’s IT-BPM sector has continued to attract new customer segments. The ability of the industry to deliver enterprising solutions is the distinguishable feature that has helped it transform from technology providers to strategic business partners all over the world. The sector contributed as much as over seven percent to India’s GDP during the fiscal year 2023. With the cost-effective selling proposition, the Indian IT industry has been more inclined towards export services. Consequently, the sector held an export market size of over *** billion U.S. dollars compared to a ** billion dollar domestic market in the financial year 2021.

IT - A job creating machine

The IT-BPM sector had employed over *** million people directly. As a consequence of this demand, India has transformed into a technological hub housing various tech cities like Bangalore, Hyderabad, and Chennai. According to a survey, Bengaluru, the Silicon Valley of India, was the leading work destination of the majority of IT professionals across India in 2020.

Shenzhen is one of the fastest growing cities in China. Based on estimates, the population of Shenzhen is expected to reach over ** million by 2035. This rapidly growing city is attracting an increasing number of young Chinese, who want to start and grow their careers.

Development history of Shenzhen 

Shenzhen is located next to Hong Kong, one of the key financial and business centers of the world.  The city has a short history - Shenzhen wasn’t technically a city until 1979. Now, it is home to the largest economy in China’s Greater Bay Area, surpassing its neighbor Hong Kong. Shenzhen is also called China’s Silicon Valley, since many China’s tech-giants are headquartered there. As a rising financial center, Shenzhen also hosts one of the two Stock Exchanges in Mainland China. The headquarter of China’s leading insurance company Ping An Insurance is in Shenzhen as well.

Immigration to Shenzhen 

Enticed by its fast-developing economy, people from across the whole country have relocated to Shenzhen to take their chances at new job and life opportunities. In its 40-year development, countless migrant workers have contributed to this city’s construction projects and labor-intensive manufacturing production. Many young graduates have found it easier to find a job in Shenzhen compared to other first-tier cities. Promotion opportunities have attracted top talent in many sectors to come to this city. Accordingly, with the rise of population, the cost of housing in Shenzhen has also seen a drastic increase.

This statistic presents the leading Fintech (Financial Technology companies) locations worldwide in 2014, by value of investment. The term Fintech is used to describe the start-up innovative companies operating in the financial sector, which provide modern technology solutions to financial services companies. It was found that Silicon Valley in the United States was the leading Fintech location worldwide, as it attracted approximately *** billion U.S. dollars of investments in Financial Technology companies. Other cities with substantial Fintech activity and which can develop into significant Fintech centers in the future are Dublin, Berlin, Tel Aviv, Singapore and Hong Kong.

Fintech – additional information

As well as Silicon Valley, New York and London were distinguished as main Fintech locations in 2014. In that year, investments in financial technology companies in New York amounted to approximately *** million U.S. dollars, and investments in London-based companies were equal to approximately ** million U.S. dollars. The other global cities with substantial Fintech activity, and which were looking at the prospects of developing into significant Fintech centers in the future, were Dublin, Berlin, Tel Aviv, Singapore and Hong Kong.

The value of investment in Fintech venture companies in the United States was equal to *** billion U.S. dollars in 2013 and this figure was projected to increase to between *** and *** billion U.S. dollars in 2018. Investments in the Fintech sector globally amounted to three billion U.S. dollars in 2013 and they were estimated to reach between six and eight billion U.S. dollars in 2018. In 2014, the United States was the leading country in terms of value of investments in Fintech companies.

In 2014, the United States provided *** thousand jobs in the Fintech sector, while the UK Fintech employment figure reached ** thousand. London, New York City and San Francisco Silicon Valley were the cities with highest number of Fintech employees, with ** thousand, ** thousand and ** thousand employees, respectively, within a ** mile radius of each city.