London’s tech businesses benefit from experienced talent pool
The capital’s programmers are among highest paid in Europe
London’s developer teams show more diversity and better job satisfaction
London’s IT programmers are some of the highest paid and most experienced in the world, according to a new report from online developer community, Stack Overflow and London & Partners, the Mayor of London’s promotional company. The findings are being launched as part of the second Tech Talent Week London, a festival of events that will celebrate London’s talented community of developers1.
Analysis of over 56,000 Stack Overflow users shows that London’s technology businesses are benefitting from access to one of the world’s most experienced developer talent pools. On average, the capital’s developers have 7.8 years’ experience under their belt compared to 6.5 years for the global developer workforce, and greater than the majority of rival European tech hubs such as Stockholm, Berlin and Paris.
Developers are attracted to London by the city’s competitive salaries. Stack Overflow data reveals that London’s developers are among some of the highest paid in Europe earning an average annual salary of $79,500.97 (£55,459.34), which is more than in Dublin, Berlin and Madrid. However, London still lags behind the United States, where developers earn an average annual salary of $95,218 (£66,423.44.)
Further analysis of Stack Overflow’s users shows that there is a better gender diversity on tech teams in London, with over one third of London respondents revealing that they work with two or more women on their development teams (5 per cent higher than the national average), and 52 per cent ‘agreeing completely that diversity in the workplace is important’ (6 per cent higher than the national average). London’s tech developers are also more content with their jobs, compared to workers across the rest of the UK (31.56 per cent love their jobs vs 30.98, the UK average).
Tech Talent Week London will gather some of the industry’s most noted thought leaders to discuss key issues facing the technology sector, including women in technology and the importance of adopting long-term recruitment strategies. Stack Overflow will host a variety of events in partnership with London & Partners, taking place across the city from 25-29th April.
Alexa Scordato, Director of Marketing at Stack Overflow said: ‘Developers are literally writing the script to our future. Every line of code they write has the potential to impact our lives. That’s why it’s so important to recognise the value of technical talent, and treat developers with the respect they deserve. Tech Talent Week London is a festival of events which celebrates the thriving developer community here in the UK’s capital.’
Eileen Burbidge, Mayor of London Technology Ambassador and Partner at Passion Capital said: “London’s talent pool is fuelling the growth of the city’s digital ecosystem. With more software developers than New York and San Francisco, London has emerged as a leading centre in areas such as fintech and cyber security. As a truly international city, London is one of the world’s most diverse tech hubs and it is refreshing that we are seeing more programmers coming into the ecosystem — male and female alike.”
David Slater, Director of International Trade & Investment at London & Partners added: “London is home to some of the best creative and tech talent in the world. With the highest concentration of world class universities compared to any other global city and Europe’s fastest growing technology cluster, London is a leading destination for international businesses looking to expand globally. As the industry continues to grow at a rapid pace it is important that we continue to attract the world’s best talent and initiatives such as Tech Talent Week are helping to shine a spotlight on why London is the world’s leading city to live and work.”
Tech Talent Week London will see keynotes by leading figures from some of the UK’s largest and fastest growing companies including; Bryan Dove, SVP Engineering at Skyscanner; Harsh Sinha, VP of Engineering at Transferwise and Meri Williams, Head of Engineering at M&S.
London’s booming fintech sector offers strong employment opportunities for developers. According to separate research from EY, Britain’s fintech ecosystem ranked higher than New York and California and currently employs around 61,000 workers across the UK.
Tech Talent Week London keynote speaker Harsh Sinha, VP Engineering at TransferWise, said: “Hiring the right people is crucial to the success of any company, but especially when you’re a high-growth business expanding internationally at speed. Finding great developers is particularly tough. But there’s a strong emerging developer community in London, so it’s great to see Tech Talent Week supporting and celebrating that community.”