London is currently Europe’s leading tech startup location—a position they’re fiercely defending. London & Partners recently revealed that venture capital firms invested approximately £1.1bn into London’s technology sector this past six months alone.
Despite the booming London tech scene, the skills shortage means that there aren’t enough professionals available for those technology jobs. The UK Commission for Employment & Skills states that 43% of the hardest jobs to fill are science, technology, engineering and maths-based job roles. This is great news for highly skilled professionals looking for new opportunities.
London tech professionals stand a great chance of commanding a competitive salary and generous benefits by simply looking for new opportunities in London tech startups.
Research for our latest Robert Half Salary Guide gives an excellent overview of technology jobs, the skills shortage and how to come out on top in the war for talent.
Too many London IT jobs and not enough skills
As many UK businesses prepare to kick off digital transformation projects and automate processes, their need for skilled technology professionals becomes more urgent.
Research from PwC shows that 43% of UK companies devote more than one-fifth of their total technology budget to emerging tech solutions. There’s simply not enough talent within the technology sector to keep up with this demand.
The result is that London tech professionals can afford to become far more particular about the roles they accept and can even expect to receive multiple offers.
The most desirable candidates have multifaceted, cross-team abilities, such as business-facing skills.
Temporary and interim London technology jobs
According to the Office for National Statistics, self-employment in the UK grew from 3.8 million in 2008 to 4.6 million in 2015. Figures from IPSE show that there are currently approximately 2 million freelance, interim and temporary professionals in the market.
London tech startups are greeting these new professionals with open arms. Our research shows that 47% of SMEs are planning to use interim hiring resources in the future. In fact—the shortage in niche skills is so severe in some industries that interim professionals and blended workforces are becoming common practice.
Considering a temporary technology job role or an interim tech job is an excellent way to gain access to innovative London startups. Many of these businesses often choose to offer their temporary or interim professionals full-time positions when a project is completed, giving an ideal opportunity to negotiate an attractive remuneration package. The Robert Half Salary Guide can provide a solid basis for your negotiations.
The average tech salary in London
Before you take the leap and start applying for IT jobs in London, it’s a good idea to take the time to understand the hiring landscape and what a competitive salary benchmark looks like.
Technology industry trends suggest that employers are currently offering new employees a far higher salary and long-term employees better salaries to help incentivise them to stay. Salaries, bonuses, flexible working and good pension offerings are on the table for negotiation.
The odds may be in your favour, but learning how to negotiate a good salary and benefits package is a skill every technology professional should learn. Download our latest Salary Guide and ensure you have a firm understanding of the benefits you’d like to ask for before you begin.
Would you like to work with the Robert Half team today and start looking for your London tech startup job?