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There has been a substantial increase in demand for talent in UK tech start-ups, with start-ups now offering salaries up to +17% higher than industry averages to attract the best candidates, according to new research revealed today by Adzuna and Silicon Milkroundabout.
Silicon Milkroundabout, the recruitment event for tech start-ups, and Adzuna, the search engine for jobs, have revealed new figures that show that there are more jobs than ever before in UK tech start-ups, and the competition for tech talent is intensifying.
Tech hubs around the country, including east London’s Silicon Roundabout/Tech City cluster, are currently recruiting 4,753 positions, up +44% since 2012. Software developers are in hot demand with 1,473 jobs currently on offer (+31% since 2012), with marketing roles second at 1,142 (+78% on 2012) and product at 570 (+8% on 2012).
Alongside the more recognisable requirements; such as ‘highly skilled’, ‘able to get things done’, ‘great in a team’, and ‘smart’, start-ups value personality traits; such as ‘curiosity’, ‘humility’, and ‘being nice’.
UK tech start-ups now compete in terms of salary for the best people – suggesting that the traditional advantage banks and bigger technology companies have held over start-ups is lessening in importance.
A software developer in a UK tech start-up can expect to earn an average of £45,088 per annum, +17% higher than the tech industry average, and a designer can expect £38,692 per annum, (+5%). Salaries for roles in Product Management (£37,517, -6%), Marketing (£31,000, -12%) and Sales/BizDev (£28,594, -14%) are comparable to industry norms.
Andrew Hunter, CEO and co-founder of Adzuna, said: “The new figures show that start-ups are continuing to attract top talent around Britain with improved wages, stock, and the excitement of joining a fast moving, entrepreneurial environment. The UK tech start-up ecosystem is maturing, with well-funded and profitable companies emerging with a need for top talent and the financial clout to take on the banks and big tech companies.”
In addition to salary, someone considering joining a UK tech start-up can expect to be promised a wide range of other benefits. The research highlighted start-up-specific pledges; such as ‘share options’, ‘backing by respected investors’, and ‘fast growth’, and an emphasis placed on the benefits of smaller teams like ‘make an impact’ or ‘challenge’. Flexible working hours and the option of choosing your own equipment also featured prominently.
Cristiana Camisotti, co-founder of Silicon Milkroundabout, commented: “In the last three years UK tech start-ups have established themselves as a genuine alternative career path to financial services or the big tech companies.”
“Our research into what start-ups are looking for in new recruits demonstrates that there is a ‘startup type of person’. Salaries and benefits at start-ups are now very competitive – so for people with the right mix of skills and personality, this is the perfect time to make the switch and start enjoying the excitement and challenge of start-up life!” she concluded.
For more information about the report and upcoming events; please click here.