London tech salaries falling behind other countries

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Technology workers looking for a big payday may be better off leaving the UK, new research has revealed.

According to a report from employment experts Hired, the salary of tech workers in the country is among the lowest in the world.

The report says that businesses in the UK pay £58,000 a year to tech workers -
lower than every other nation surveyed except for France. It was also stated that the average salary for tech workers has dropped more than 17 per cent since 2015.

The report also says that Brexit is rearing its ugly head once again, as the rate of hiring candidates outside the country has dropped seven per cent. However, locals seem to be earning less than foreigners, as technology workers from abroad relocating to the UK are set to earn almost £12,000 more than natives.

Compared to San Francisco, tech workers in London earn 42 per cent less. This result even factors in things like cost of living. Salaries in the UK grew 1.24 per cent in the last year, while inflation grew 2.8 per cent.

“This year’s report uncovered promising trends for the tech industry and economy at large, but our data also revealed a story of inequality: black tech workers are offered $6K less on average than their white counterparts.,” the report concluded.

“We hope this report can be a starting point for larger discussions and we remain committed to highlighting and quantifying the ever-changing state of salaries in tech.”

Image source: Shutterstock/MaximP