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The salary for the UK tech industry is miserable, but think twice before heading to Silicon Valley

The salary for the UK tech industry is miserable, but think twice before heading to Silicon Valley

Hired published his Report annual of technological salaries , which shows that compensation in the UK lags behind the rest of the world. The average salary for a software engineer in 2016 was just £ 56,000 ($ 73,000), the third lowest of the 16 technology markets analyzed. In general, the lowest average wage was found in France, where workers receive just £ 44,000 a year in return for their efforts. Singapore followed in second place with an average salary of £ 49,000.

Meanwhile, US markets showed substantially higher salaries for software engineers, a feature attributed to the employee’s relative maturity in US technology markets. Surprisingly, the San Francisco Bay Area ranked first in terms of compensation, averaging $ 134,000 (£ 107,000) in 2016, followed by Seattle with $ 126,000 (£ 101,000). ).).

Interestingly, countries around the world saw declines in the salaries of technicians, the largest of which was Toronto, whose software engineers saw a 6.29% drop in salaries. Only two markets recorded an average salary increase of over 1%, the area of ​​San Francisco Bay and Seattle, obtaining 3.38% and 2.14% respectively.

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Perhaps the most revealing finding of Hired’s analysis was the astronomically high cost of living in thriving Silicon Valley, which meant that all things considered, wages in the Bay Area, faded compared to the least expensive cities in Silicon Valley. world. For example, the average salary for a software engineer in Austin, Texas was $ 110,000 (£ 88,000), but when you consider the cost of living, it equates to a gigantic salary of $ 198,000 ($ 158,000). pounds).) In San Francisco.

This was a trend that Hired detected around the world; In Melbourne, for example, the average salary was apparently modest at $ 83,000 in US dollars. But the relatively low cost of living in the city meant that earning $ 83,000 in Melbourne was the same as earning $ 150,000 in San Francisco. So it looks like you can give up your dreams of Google bikes with colored blocks and Stanford sweatshirts and, let’s be honest, have some congratulations, you’ll get (monetary) rewards.

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Another notable trend has been that technology companies show a desire to offer inflated salaries to non-local technology workers who have jumped and moved. It was especially true in European, Canadian and Asian markets that people who moved were offered a significantly higher average salary than people living nearby – in Toronto, offers were usually 21% higher for the first group, in London and Singapore, the increase was 28%, and in France the relocation offer was 57% higher on average than the salary offers for locals.

I guess the message here is that the growing technology markets in cosmopolitan cities around the world are absorbing the external parts that want to move. So, if you feel like spreading your wings and heading for greener pastures (figuratively, in the case of London, home to lead gray rain), then there has never been a better time to take the plunge. Maybe you just want to look at Melbourne instead of San Francisco.