THE AVERAGE London tech worker’s salary rose by six per cent last year to £62,000, according to new research.
The latest annual global ‘state of salaries report’ from career marketplace Hired found that London tech workers are paid 67 per cent more than the average Londoner, yet only half believe they are paid fairly given the city’s cost of living.
Despite their comparatively higher salaries, 71 per cent of London’s tech talent currently chooses to rent rather than buy a home, the report said.
UK tech workers in finance are among the highest earners in the sector, with an average salary of £64,000.
Backend engineers are the most in-demand tech workers in the UK, followed by full stack engineers, frontend engineers, data engineers, mobile engineers and machine learning engineers.
Interestingly, UK tech workers are more reticent than their global counterparts about choosing company equity over a higher salary, with 69 per cent preferring a higher paycheck, compared to 54 per cent worldwide.
The US is the most lucrative country for tech workers. The San Francisco Bay Area continues to pay its tech talent most, with employees earning $145,000 (£115,000) – a two per cent year-on-year increase. This is followed by $138,000 in Seattle (up five per cent) and $133,000 in New York (up three per cent).
“Our unique window into the key salary trends shaping the career landscape for tech talent enables us to empower tech workers to gain better visibility and transparency into the compensation available in their industry,” said Mahul Patel, chief executive of Hired.
“We hope this report will make it easier for job seekers to understand their market value, create an equitable future and help them to find a job they love with a salary they deserve.”