People who work in tech claim to be saving at a higher rate than the national average.
Savings: Tech workers vs. everyone else
Just over 50% of tech workers say they save at least 10% of their paycheck each month, with most of them saving 20% or more, according to the latest reading of an ongoing query by Comparably. The average personal savings rate in America is 5.9%, according to a May 1 report by the Bureau of Labor Statistics (BLS).
Of course, all else considered equal (rents, cost of living, etc.), earning a higher salary leaves people with the ability to save more. And tech jobs generally pay above-average: the median annual wage for workers in computer and information technology was $81,430 in May 2015, while the national average salary was $36,200, according to the BLS.
On the flipside, about 38% of people outside of tech say they save at least 10% of their paycheck, and 39% save nothing or spend more than they make.
Engineers save the most
Among the tech workers in Comparably’s survey, engineers were most likely to save more than 20% of their paychecks.
Those in administrative and customer support roles claimed to have saved “nothing” more than anyone else.
Savings by city
From a location perspective, workers in San Francisco — heart of the U.S. tech scene — appeared to be saving more than anyone else (39% save at least 1/5 of their paycheck and 25% save at least 1/10).
Portland, Ore., had the highest amount of workers saving the least (22% save nothing and 9% spend more than they make).
For more, check out the full report. The figures referenced above are as of May 30.
