San Francisco: Employment
- The Bay Area is known as the technology and new media birthplace. More than 300 media companies are located in the Bay Area, and Silicon Valley is the center of this industry.
- San Francisco’s workforce is highly diverse and educated. However, the city’s unemployment rate is lower than that of the state.
- To work in San Francisco requires a social insurance number. The time it takes to get one will depend on your visa.
- As in all places in the US, the business culture in City by the Bay has a casual feel. So it’s not unusual to be on first names with your boss. If you need someone to write your resume, look no further. SkillHub experts in San Francisco can spare you time and stress. They will deliver an outstanding piece in no time.
Work in the Financial Center of the West Coast
San Francisco has been a major financial hub on the West Coast since the days of the California Gold Rush. In addition, the city’s central location, halfway between Tokyo & London, will be a boon for expats interested in working in the financial sector.
Since its inception, San Francisco’s harbor has allowed it to thrive on shipping and trade. It is a smaller player than the Port of Oakland, which is much busier. Nonetheless, San Francisco houses some of the largest banks in the country, including Wells Fargo, Bank of America, and Bank of America. This city is the hub of international commerce and the best place for expatriates looking for high-paying jobs.
The Legendary Silicon Valley: New Media and Technology
The Bay Area is a hub for new media innovation. Ex-pats who dream of living in San Francisco will be delighted to discover that it is the birthplace of the industry. The area is home to over 300 digital media companies, including YouTube and Twitter. Many dream of working in San Francisco, where they can make it big in tech.
High-tech development, which began in the mid-1900s, is still underway. Silicon Valley and Stanford University, located nearby, have been key players in the tech boom and continue leading the industry. High-tech companies in San Francisco employ engineers and other specialists to produce semiconductors and other electronic equipment.
What about Life Sciences and Tourism?
It’s a great place to live for ex-pats interested in working in San Francisco’s biotech and life sciences sector. This city is an important hub for research and development in genetic engineering, medical electronics, and pharmaceutical products. More than 1,600 life sciences companies in the Bay Area employ over 164,000 people.
Tourism is another important economic sector. Many ex-pats will find employment in this industry, which is the region’s largest. In 2015, tourism generated 9.3 billion dollars in spending and supported more than 76,500 jobs.
The Wall Street of the West
Clusters of towers and high-rise buildings make up the Financial District in San Francisco’s northeast. San Francisco’s tallest buildings here, including the Transamerica Pyramid.
Expats who want to work in San Francisco’s financial services sector will have a good shot of landing in the Financial District. It is home to San Francisco’s largest concentrations of corporate headquarters, law firms, banks, and other financial institutions. Montgomery Street is the area’s traditional heart and is sometimes called “the Wall Street of the West”.
There are several consulates located in the Financial District. For example, members of the diplomatic corps might be found in San Francisco’s Consulate of Sweden, Japan or Ireland, Israel, the UK, or the Taipei Economic and Cultural Office.
San Francisco’s Educated Workforce,
One of the highest concentrations of ex-pats and new immigrants in the country is found in San Francisco. The city is home to a large and diverse workforce. Nearly one-fifth of its residents have a professional or graduate degree. This high-qualified labor force is a major asset to San Francisco and attracts international businesses.
There are many small and medium-sized business opportunities in the city.
Moreover, at 3.8% in August 2016, the unemployment rates were lower than the whole state of California (5.5%) or the US (4.9%).
Doing Business in San Francisco
Social Security and Pensions: What you need to remember.
You will need a social card and a number to work in San Francisco or anywhere else in the US. These will depend on the visa you have.
You can apply for an immigrant visa if you plan to stay in San Francisco indefinitely. Nonimmigrants should submit their request online ten days after arriving in the USA.
Social security in the USA includes retirement benefits and survivor and disability insurance. More information about social security for non-citizens can be found at the US Social Security Administration. You must be at least 65 years old and have been a member of the US social insurance system for at least ten consecutive years to qualify for a US State Pension. However, retirement benefits are rarely enough to maintain one’s old standard of living. Therefore, making retirement plans or contributing to the company’s pension fund is smart.
Is there a social security agreement between your country and the US?
The United States has social security agreements with 25 countries, including Australia, Japan, and the UK. These agreements regulate how social contributions are handled between two countries and can make ex-pat life easier in San Francisco.
First, they protect ex-pats from paying social security taxes in two countries on the same income. They also fill in benefits protection gaps for ex-pats working part-time abroad. Your contributions to San Francisco could count towards your home social security account.
The Social Security Administration’s website contains a complete list of countries and information about each agreement.
How to determine your tax status
As an ex-pat living in San Francisco, you must pay income taxes on both the federal and state levels. The US has a low-income tax. Expats are generally taxed the same as US citizens.
However, how long you have been living in the US over the past three years will affect how you are taxed. For more information on taxation for foreign employees working in the United States, please visit the Internal Revenue Service (IRS). In cases where your home country has a double-
taxation agreement, it may be possible to avoid paying federal income taxes if you continue to pay income taxes in your home country. This does not affect state income taxes.
Time is money: Business Culture in San Francisco
Americans are very direct in business. This might be a challenge for ex-pats of other cultures. People are quick to do the job, and there is little room for error. Even in laid-back cities like San Francisco, time is true. Being direct and straightforward should not be confused with being rude.
However, American business culture can be quite informal. Your boss, co-workers, and business partners may all call you by your first name and expect you to do so. It is not common to receive extravagant business gifts. Some may view them as bribery which could lead to trouble.