Silicon Valley: Top salaries for many, greater inequality for all

Silicon Valley is an economic bubble where the competition to hire in-demand engineers is greatly inflating some pay packages. However, the high salaries awarded to many in the tech industry comes at the price of worsening inequality in the Bay Area.

Silicon Valley -- home to tech giants Apple, Twitter, Google, and Facebook, as well as venture-capital-funded tech startups -- is awash with cash. A recent report from the Bureau of Labor Statistics confirmed that Silicon Valley employees are among the highest paid in the country, with the average worker in San Mateo County earning $3,240 per week -- more than three times the national average, and $1,100 more per week than the average employee in Manhattan. By comparison, the average salary for all professions in the Bay Area is $66,070, according to the Bureau of Labor Statistics.