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Startup salaries boom to average over £40,000

Silicon Milkroundabout
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As the UK tech sector continues to grow, it looks like startup salaries are also on the rise. The average advertised salary for startup jobs now stands at over £40,000, according to new research.

Figures released by recruitment event Silicon Milkroundabout and job search engine Adzuna.co.uk have revealed that the average advertised salary has jumped 6% in the past year, rising from £39,244 to £41,718.

The research also shed some light on the size of the tech job market, revealing UK startups are currently hiring for 8,554 positions.

From competition to cost of living: Why the UK’s tech hub map could be redrawn

Startup salary breakdown

It’s not just software developers and designers who saw a salary boost. Marketing and sales salaries saw increases of over 35%, with the advertised salary for both now around £40,000 as well.

Andrew Hunter, cofounder of Adzuna.co.uk, believes startups can now compete with the biggest companies when it comes to salaries:

Just like in Silicon Valley or New York, well-funded and profitable startups have levelled the playing field and can compete directly on salaries with the City and big tech companies for the most talented people.

Tech scene ‘exploding’

The research also found that UK startups have over 80% more open jobs than a year ago.

London and the South East lead the way with 60% (just over 5,000) of the jobs located in the area.

Pete Smith, a cofounder of Silicon Milkroundabout, added:

This data backs up the feeling those of us on the inside have had for a while – that the UK tech scene is exploding.

Not only has the number of jobs on offer nearly doubled in 12 months, but salaries continue to outpace industry averages.

Hiring this weekend

Silicon Milkroundabout returns to London this weekend, hoping to match over 160 of the UK’s top tech companies with developers, product managers, designers and marketers.

Over 1,400 jobs are said to be on offer, with the list of startups including Badoo, MOO, King, Shazam, Geckoboard, onefinestay, graze, notonthehighstreet.com, and Space Ape Games.

Anyone interested can register for the event on the Silicon Milkroundabout website.

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