According to a new report
Results of the 2018 Global State of Salaries by Hired reveals that the salary of tech workers within the UK is amongst the lowest in the world.
Key findings:
- The only place that tech workers make less than in the UK (£58k), is France – in fact, the average salary for tech workers has dropped over 17 per cent since 2015
- There has been a 7 per cent decline in hiring candidates from outside the UK– demonstrating the impact the continued uncertainty Brexit is having on UK business decision making
- Tech companies who are looking to attract foreign talent are paying increased salaries – tech workers from abroad willing to relocate to the UK make nearly over £12K more than local UK candidates.
- Tech workers in London make 42 per cent less than those in San Francisco – even when factoring in cost of living, UK tech workers are earning significantly less than those in San Francisco (42 per cent) and New York (28 per cent)
- UK tech salaries only grew 1.24 per cent over the past 12 months, and are not keeping pace with UK inflation rate of 2.8 per cent – this means salaries are in fact decreasing. In comparison, tech salaries in San Francisco and New York increased by 5 per cent over the last 12 months
- Transportation technology companies pay tech workers the most
- Techies in product management earn the most
The report found that job candidates between 20 and 34 ask for significantly lower salaries than what they’re ultimately offered. This pattern flips at 35, when tech candidates begin to receive offers lower than the salaries they requested. Average salaries also follow a clear arc, and mid-career is the sweet spot for the highest earnings. Salaries for tech workers peak in their mid-40s at £107K.
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