Is there going to be a mass exodus of tech workers out of cities like SF?
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Yes If companies allow “work anywhere.” SF is expensive and if you and live and be happy and highly productive in Arkansas...
Companies need some guidelines along the way (interns, new hires, COLAs, travel costs, etc)
I am not sure about a mass exodus. There will be some types of roles that can be done remote and they will leave the Bay Area (or other large cities). But there are many roles that cannot be done (or are hard to do from remote).
Bay Area is about relationships and about the eco system. Very hard to do those things over Zoom. So not sure there will be a mass exodus
I am seeing this in Paris as well. IT is working from home for last 7 months but Research, Sales, Plant operators and many other roles are still going to work even with the government calling it lock down.
The pandemic has proven to organizations who were unsure of remote work that workers can work effectively from any location. I suspect continued exoduses from metro areas such as San Francisco may depend on several factors: age, financial situation, career prospects and current work situation. Some recent research suggests that age & financial situation may have the most influence on population flight out of large urban areas. The cost of living in metro areas like San Francisco has already impacted the metro population. San Francisco's bleak economic activity over the last six months suggests residents are leaving due to record job losses, the prevalence of remote work, and high living costs.
Does not seem like it will be a ‘mass’ exodus, but many.
With that, things are getting back to normal.
Silicon Valley will be Silicon Valley after the pandemic is over, and is an important place to be. Hard to envision a long-term mass exodus.
https://www.globest.com/2020/11/17/san-francisco-condo-sales-return-to-pre-covid-levels/?slreturn=20201109203944
I believe data so far shows that while incredible growth has stopped during COVID, that for everyone that leaves someone else is coming in right now - generally flat.
The Bay Area, like many metropolitan locations around the world draw tech workers not only because of the great job opportunities, but also because it’s a beautiful place to live.