Visualizing the Largest Tech Hubs in U.S. and Canada
Connect with us

Markets

The Biggest Tech Talent Hubs in the U.S. and Canada

Published

on

Visualizing the biggest tech talent hubs in the U.S. and Canada

Can I share this graphic?
Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.
When do I need a license?
Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.
Interested in this piece?
Click here to license this visualization.

The Biggest Tech Talent Hubs in the U.S. and Canada

The tech workforce just keeps growing. In fact, there are now an estimated 6.5 million tech workers between the U.S. and Canada — 5.5 million of which work in the United States.

This infographic draws from a report by CBRE to determine which tech talent markets in the U.S. and Canada are the largest. The data looks at total workforce in the sector, as well as the change in tech worker population over time in various cities.

The report also classifies which metro areas and regions can rightly be considered tech hubs in the first place, by looking at a variety of factors including cost of living, average educational attainment, and tech employment levels as a share of different industries.

The Top Tech Hubs in the U.S.

Silicon Valley, in California’s Bay Area, remains the most prominent (and expensive) U.S. tech hub, with a talent pool of nearly 380,000 tech workers.

Here’s a look at the top tech talent markets in the country in terms of total worker population:

🇺🇸 MarketTotal Tech Talent% Talent Growth (2016-2021)
SF Bay Area378,87013%
New York Metro344,5203%
Washington D.C. 259,3106%
Los Angeles235,80010%
Seattle189,57032%
Dallas/Ft. Worth187,95015%
Chicago167,5606%
Boston166,4502%
Atlanta145,0807%
Denver117,62023%
Philadelphia115,450 7%
Minneapolis100,9905%
Phoenix99,60018%
Houston98,930-2%
Detroit 93,7705%
Austin 84,68021%
Baltimore79,0008%
San Diego77,780 16%
Raleigh/Durham69,05011%
Portland67,410 28%
South Florida66,660 8%
Charlotte61,95022%
Salt Lake City55,93029%
St. Louis53,9102%
Kansas City52,5000%
Tampa 52,24013%
Columbus50,3904%

America’s large, coastal cities still contain the lion’s share of tech talent, but mid-sized tech hubs like Salt Lake City, Portland, and Denver have put up strong growth numbers in recent years. Seattle, which is home to both Amazon and Microsoft, posted an impressive 32% growth rate over the last five years.

Emerging tech hubs include areas like Raleigh-Durham. The two cities have nearly 70,000 employed tech workers and a strong talent pipeline, seeing a 28% increase in degree completions in fields like Math/Statistics and Computer Engineering year-over-year to 2020. In fact, the entire state of North Carolina is becoming an increasingly attractive business hub.

Houston was the one city on this list that had a negative growth rate, at -2%.

The Top Tech Hubs in Canada

Tech giants like Google, Meta, and Amazon are continuously and aggressively growing their presence in Canada, further solidifying the country’s status as the next big destination for tech talent. Here are the country’s four tech hubs with a total worker population of more than 50,000:

🇨🇦 MarketTotal Tech Talent% Talent Growth (2016-2021)
Toronto289,70044%
Montreal148,90027%
Vancouver115,40063%
Ottawa81,20022%

Toronto saw the most absolute growth tech positions in 2021, adding 88,900 jobs. The tech sector in Canada’s largest city has seen a lot of momentum in recent years, and is now ranked by CBRE as North America’s #3 tech hub, after the SF Bay Area and New York City.

Vancouver’s tech talent population increased the most from its original figure, climbing 63%. Seattle-based companies like Microsoft and Amazon have established sizable offices in the city, adding to the already thriving tech scene. Furthermore, Google is set to build a submarine high-speed fiber optic cable connecting Canada to Asia, with a terminus in Vancouver.

Not to be left behind, Ottawa has also taken giant strides to increase their tech talent and stamp their presence. The country’s capital even has the highest concentration of tech employment in its workforce, thanks in part to the success of Shopify.

Map showing tech employment concentration in the U.S. and Canada

The small, but well-known tech hub of Waterloo also had a very high concentration on tech employment (9.6%). The region has seen its tech workforce grow by 8% over the past five years.

Six out of the top 10 cities by tech workforce concentration are located in Canada.

Evolution of Tech Hubs

The post-COVID era has seen a shifting definition of what a tech hub means. It’s clear that remote work is here to stay, and as workers migrate to chase affordability and comfort, traditional tech hubs are seeing some decline — or at least slower growth — in their population of tech workers.

While it isn’t evident that there is a mass exodus of tech talent from traditional coastal hubs, the rise in high-paying tech jobs in smaller markets across the country could point to a trend and is positive for the industry.

While more workers with great talent, resources, and education continue to opt for cost-friendly places to reside and work remotely, will newer markets like Charlotte, Tennessee, and Calgary see a rise of tech companies, or will large corporations and startups alike continue to opt for the larger cities on the coast?

Click for Comments

Markets

All of the World’s Money and Markets in One Visualization (2022)

From the wealth held to billionaires to all debt in the global financial system, we look at the vast universe of money and markets in 2022.

Published

on

All of the World’s Money and Markets in One Visualization

The era of easy money is now officially over.

For 15 years, policymakers have tried to stimulate the global economy through money creation, zero interest-rate policies, and more recently, aggressive COVID fiscal stimulus.

With capital at near-zero costs over this stretch, investors started to place more value on cash flows in the distant future. Assets inflated and balance sheets expanded, and money inevitably chased more speculative assets like NFTs, crypto, or unproven venture-backed startups.

But the free money party has since ended, after persistent inflation prompted the sudden reversal of many of these policies. And as Warren Buffett says, it’s only when the tide goes out do you get to see “who’s been swimming naked.”

Measuring Money and Markets in 2022

Every time we publish this visualization, our common unit of measurement is a two-dimensional box with a value of $100 billion.

Even though you need many of these to convey the assets on the balance sheet of the U.S. Federal Reserve, or the private wealth held by the world’s billionaires, it’s quite amazing to think what actually fits within this tiny building block of measurement:

What fits in a $100 billion box?

Our little unit of measurement is enough to pay for the construction of the Nord Stream 2 pipeline, while also buying every team in the NHL and digging FTX out of its financial hole several times over.

Here’s an overview of all the items we have listed in this year’s visualization:

Asset categoryValueSourceNotes
SBF (Peak Net Worth)$26 billionBloombergNow sits at <$1B
Pro Sports Teams$340 billionForbesMajor pro teams in North America
Cryptocurrency$760 billionCoinMarketCapPeaked at $2.8T in 2021
Ukraine GDP$130 billionWorld BankComparable to GDP of Mississippi
Russia GDP$1.8 trillionWorld BankThe world's 11th largest economy
Annual Military Spending$2.1 trillionSIPRI2021 data
Physical currency$8.0 trillionBIS2020 data
Gold$11.5 trillionWorld Gold CouncilThere are 205,238 tonnes of gold in existence
Billionaires$12.7 trillionForbesSum of fortunes of all 2,668 billionaires
Central Bank Assets$28.0 trillionTrading EconomicsFed, BoJ, Bank of China, and Eurozone only
S&P 500$36.0 trillionSlickchartsNov 20, 2022
China GDP$17.7 trillionWorld Bank
U.S. GDP$23.0 trillionWorld Bank
Narrow Money Supply$49.0 trillionTrading EconomicsIncludes US, China, Euro Area, Japan only
Broad Money Supply $82.7 trillionTrading EconomicsIncludes US, China, Euro Area, Japan only
Global Equities$95.9 trillionWFELatest available 2022 data
Global Debt$300.1 trillionIIFQ2 2022
Global Real Estate$326.5 trillionSavills2020 data
Global Private Wealth$463.6 trillionCredit Suisse2022 report
Derivatives (Market)$12.4 trillionBIS
Derivatives (Notional)$600 trillionBIS

Has the Dust Settled Yet?

Through previous editions of our All the World’s Money and Markets visualization, we’ve created snapshots of the world’s assets and markets at different points in time.

For example, in our 2017 edition of this visualization, Apple’s market capitalization was only $807 billion, and all crypto assets combined for $173 billion. The global debt total was at $215 trillion.

Asset2017 edition2022 editionChange (%)
Apple market cap$807 billion$2.3 trillion+185%
Crypto$173 billion$760 billion+339%
Fed Balance Sheet$4.5 trillion$8.7 trillion+93%
Stock Markets$73 trillion$95.9 trillion+31%
Global Debt$215 trillion$300 trillion+40%

And in just five years, Apple nearly quadrupled in size (it peaked at $3 trillion in January 2022), and crypto also expanded into a multi-trillion dollar market until it was brought back to Earth through the 2022 crash and subsequent FTX implosion.

Meanwhile, global debt continues to accumulate—growing by $85 trillion in the five-year period.

With interest rates expected to continue to rise, companies making cost cuts, and policymakers reining in spending and borrowing, today is another unique snapshot in time.

Now that the easy money era is over, where do things go from here?

Continue Reading

Markets

Ranked: The World’s 100 Biggest Pension Funds

The world’s 100 largest pension funds are worth over $17 trillion in total. Which ones are the biggest, and where are they located?

Published

on

A preview image of some of the largest pension funds in the world. The Government Pension Investment Fund in Japan is the biggest at $1.7 trillion in assets.

Ranked: The World’s 100 Biggest Pension Funds

View the high-resolution of the infographic by clicking here.

Despite economic uncertainty, pension funds saw relatively strong growth in 2021. The world’s 100 biggest pension funds are worth over $17 trillion in total, an increase of 8.5% over the previous year.

This graphic uses data from the Thinking Ahead Institute to rank the world’s biggest pension funds, and where they are located.

What is a Pension Fund?

A pension fund is a fund that is designed to provide retirement income. This ranking covers four different types:

  • Sovereign funds: Funds controlled directly by the state. This ranking only includes sovereign funds that are established by national authorities.
  • Public sector funds: Funds that cover public sector workers, such as government employees and teachers, in provincial or state sponsored plans.
  • Private independent funds: Funds controlled by private sector organizations that are authorized to manage pension plans from different employers.
  • Corporate funds: Funds that cover workers in company sponsored pension plans.

Among the largest funds, public sector funds are the most common.

The Largest Pension Funds, Ranked

Here are the top 100 pension funds, organized from largest to smallest.

RankFundMarketTotal Assets
1Government Pension Investment Fund🇯🇵 Japan$1.7T
2Government Pension Fund🇳🇴 Norway$1.4T
3National Pension🇰🇷 South Korea$798.0B
4Federal Retirement Thrift🇺🇸 U.S.$774.2B
5ABP🇳🇱 Netherlands$630.4B
6California Public Employees🇺🇸 U.S.$496.8B
7Canada Pension🇨🇦 Canada$426.7B
8National Social Security🇨🇳 China$406.8B
9Central Provident Fund🇸🇬 Singapore$375.0B
10PFZW🇳🇱 Netherlands$315.5B
11California State Teachers🇺🇸 U.S.$313.9B
12New York State Common🇺🇸 U.S.$267.8B
13New York City Retirement🇺🇸 U.S.$266.7B
14Local Government Officials🇯🇵 Japan$248.6B
15Employees Provident Fund🇲🇾 Malaysia$242.6B
16Florida State Board🇺🇸 U.S.$213.8B
17Texas Teachers🇺🇸 U.S.$196.7B
18Ontario Teachers🇨🇦 Canada$191.1B
19National Wealth Fund🇷🇺 Russia$180.7B
20AustralianSuper🇦🇺 Australia$169.1B
21Labor Pension Fund🇹🇼 Taiwan$168.9B
22Washington State Board🇺🇸 U.S.$161.5B
23Public Institute for Social Security🇰🇼 Kuwait$160.0B
24ATP🇩🇰 Denmark$155.4B
25Wisconsin Investment Board🇺🇸 U.S.$147.9B
26Future Fund🇦🇺 Australia$147.9B
27Boeing🇺🇸 U.S.$147.2B
28Employees' Provident🇮🇳 India$145.0B
29New York State Teachers🇺🇸 U.S.$144.4B
30North Carolina🇺🇸 U.S.$137.1B
31Alecta🇸🇪 Sweden$136.7B
32GEPF🇿🇦 South Africa$129.1B
33California University🇺🇸 U.S.$125.3B
34Bayerische Versorgungskammer🇩🇪 Germany$122.0B
35Ohio Public Employees🇺🇸 U.S.$121.6B
36AT&T🇺🇸 U.S.$119.5B
37Public Service Pension Plan🇨🇦 Canada$117.9B
38National Federation of Mutual Aid🇯🇵 Japan$117.1B
39Metaal/tech. Bedrijven🇳🇱 Netherlands$115.8B
40IBM🇺🇸 U.S.$115.4B
41Universities Superannuation🇬🇧 UK$111.2B
42Virginia Retirement🇺🇸 U.S.$110.0B
43Pension Fund Association🇯🇵 Japan$109.8B
44Raytheon Technologies🇺🇸 U.S.$108.9B
45Michigan Retirement🇺🇸 U.S.$108.0B
46Aware Super🇦🇺 Australia$107.5B
47New Jersey🇺🇸 U.S.$104.5B
48Minnesota State Board🇺🇸 U.S.$102.9B
49PFA Pension🇩🇰 Denmark$102.7B
50Kaiser🇺🇸 U.S.$101.0B
51Georgia Teachers🇺🇸 U.S.$100.9B
52Oregon Public Employees🇺🇸 U.S.$100.4B
53Massachusetts PRIM🇺🇸 U.S.$98.5B
54Qsuper🇦🇺 Australia$96.5B
55General Motors🇺🇸 U.S.$96.1B
56Ontario Municipal Employees🇨🇦 Canada$95.7B
57Ohio State Teachers🇺🇸 U.S.$95.1B
58AP Fonden 7🇸🇪 Sweden$94.4B
59Healthcare of Ontario🇨🇦 Canada$90.5B
60General Electric🇺🇸 U.S.$90.5B
61Employees' Pension Fund🇮🇳 India$89.5B
62Bouwnijverheid🇳🇱 Netherlands$88.5B
63UPS🇺🇸 U.S.$86.8B
64United Nations Joint Staff🇺🇸 U.S.$86.2B
65Lockheed Martin🇺🇸 U.S.$85.7B
66Quebec Pension🇨🇦 Canada$81.4B
67National Public Service🇯🇵 Japan$79.9B
68Tennessee Consolidated🇺🇸 U.S.$79.0B
69Royal Bank of Scotland Group🇬🇧 UK$78.3B
70Bank of America🇺🇸 U.S.$76.3B
71BT Group🇬🇧 UK$74.3B
72Keva🇫🇮 Finland$73.3B
73Ford🇺🇸 U.S.$72.8B
74PME🇳🇱 Netherlands$72.7B
75Los Angeles County Employees🇺🇸 U.S.$72.7B
76Quebec Government & Public🇨🇦 Canada$72.4B
77UniSuper🇦🇺 Australia$72.1B
78Northrop Grumman🇺🇸 U.S.$72.0B
79Pennsylvania School Employees🇺🇸 U.S.$70.4B
80Lloyds Banking Group🇬🇧 UK$69.7B
81Ilmarinen🇫🇮 Finland$69.1B
82Colorado Employees🇺🇸 U.S.$68.6B
83Maryland State Retirement🇺🇸 U.S.$68.5B
84AMF Pension🇸🇪 Sweden$67.3B
85Varma🇫🇮 Finland$67.1B
86Wells Fargo🇺🇸 U.S.$66.0B
87Sunsuper🇦🇺 Australia$66.0B
88Verizon🇺🇸 U.S.$64.1B
89Illinois Teachers🇺🇸 U.S.$64.0B
90J.P. Morgan Chase🇺🇸 U.S.$62.8B
91Electricity Supply Pension🇬🇧 UK$62.5B
92FedEx🇺🇸 U.S.$60.7B
93Nevada Public Employees🇺🇸 U.S.$58.8B
94B.C. Municipal🇨🇦 Canada$58.7B
95AP Fonden 4🇸🇪 Sweden$57.7B
96Missouri Schools & Education🇺🇸 U.S.$57.0B
97AP Fonden 3🇸🇪 Sweden$55.9B
98Social Insurance Funds🇻🇳 Vietnam$55.7B
99Organization for Workers🇯🇵 Japan$55.6B
100Illinois Municipal🇺🇸 U.S.$54.9B

U.S. fund data are as of Sep. 30, 2021, and non-U.S. fund data are as of Dec. 31, 2021. There are some exceptions as noted in the graphic footnotes.

Japan’s Government Pension Investment Fund (GPIF) is the largest in the ranking for the 21st year in a row. For a time, the fund was the largest holder of domestic stocks in Japan, though the Bank of Japan has since taken that title. Given its enormous size, investors closely follow the GPIF’s actions. For instance, the fund made headlines for deciding to start investing in startups, because the move could entice other pensions to make similar investments.

America is home to 47 funds on the list, including the largest public sector fund: the Thrift Savings Plan (TSP), overseen by the Federal Retirement Thrift Investment Board. Because of its large financial influence, both political parties have been accused of using it as a political tool. Democrats have pushed to divest assets in fossil fuel companies, while Republicans have proposed blocking investment in Chinese-owned companies.

Russia’s National Wealth Fund comes in at number 19 on the list. The fund is designed to support the public pension system and help balance the budget as needed. With Russia’s economy facing difficulties amid the Russia-Ukraine conflict, the government has also used it as a rainy day fund. For instance, Russia has set aside $23 billion from the fund to replace foreign aircraft with domestic models, because Western sanctions have made it difficult to source replacement parts for foreign planes.

The Future of Pension Funds

The biggest pension funds can have a large influence in the market because of their size. Of course, they are also responsible for providing retirement income to millions of people. Pension funds face a variety of challenges in order to reach their goals:

  • Geopolitical conflict creates volatility and uncertainty
  • High inflation and low interest rates (relative to long-term averages) limit return potential
  • Aging populations mean more withdrawals and less fund contributions

Some pension funds are turning to alternative assets, such as private equity, in pursuit of more diversification and higher returns. Of course, these investments can also carry more risk.

Ontario Teachers’ Pension Plan, number 18 on the list, invested $95 million in the now-bankrupt cryptocurrency exchange FTX. The plan made the investment through its venture growth platform, to “gain small-scale exposure to an emerging area in the financial technology sector.”

In this case, the investment’s failure is expected to have a minimal impact given it only made up 0.05% of the plan’s net assets. However, it does highlight the challenges pension funds face to generate sufficient returns in a variety of macroeconomic environments.

Continue Reading

Subscribe

Popular