In 2022 it retained the number one spot in Europe, ahead of France which ranked second and raised £11.8B, and Germany, ranked third, which raised £9.1B.
Almost half of funds raised in the UK last year went to fintech companies, followed by energy and transport, and the UK has more high-growth technology companies than its European counterparts, creating 144 unicorns, 237 futurecorns and over 85,000 startups, 400 of which are high-growth and worth more than $250M in value. And thanks to the combined market value of the tech ecosystem at $1T, the UK has become the third country ever (after China and the US) to cross this threshold.
Part of the strength of the UK’s tech sector is down to its skilled labour force. Currently over three million people are employed across the tech sector in established tech hubs like London and Manchester, as well as emerging locations including Bristol, Cambridge, Edinburgh, Leeds, Nottingham and Oxford. Cambridge was also named as the number one university in the world for producing tech founders, above Harvard and MIT. Oxford ranked fourth.
What does that mean for those working in tech? Talent is in high demand and the salaries that accompany tech roles reflect this, as calculated by a recent study carried out by TechShielder in conjunction with Indeed, which calculated median salaries across some of the most common and in-demand jobs in the sector.
So whether you’re looking for a new role and want to gauge what you should be paid or are considering upskilling or learning how to code so you can change career direction, the good news is that the UK tech industry is ripe with opportunity.
Below, discover some of the best paying tech jobs this year, and find plenty more on the Maddyness Job Board.
1. Senior software engineer
The role of senior software engineer ranked highest with the average salary coming in at £63,824. Typically this job involves leading software development teams to develop and install new information systems. This role usually requires a Master’s degree along with five years’ of experience as a software engineer. Streaming platform Roku is currently hiring a Senior Software Engineer based in Cambridge, social media safety and crisis monitoring firm Crisp is also hiring a Senior Software Engineer for its Leeds office, while Octopus Energy in Manchester is also recruiting a Senior Software Engineer.
2. Operations engineer
Nabbing the second spot on the salary list is the role of operations engineer which yields a yearly salary of £61,745. Those working in the field of operations engineering are responsible for repairing and upgrading machinery, monitoring systems, providing analysis and solving any issues that may arise. In London, One Web is on the hunt for a Fleet Operations Engineer to work on its mission to revolutionise technology in space, while Third Republic has an opening for a Platform Operation Engineer to join its engineering team.
3. Data engineer
Data engineers are responsible for the preparation and organisation of databases and make this data available to data scientists so they can improve business operations. Accordingly, this crucial cog in the tech wheel garners the third highest salary—£60,731 on average per year. If you’re interested in a data engineer role, digital bank Zopa is currently hiring a mid-level Data Engineer to work from its London office, software provider TES Global is seeking a Data Engineer who can work a hybrid model from either Sheffield or London, while Bristol Myers Squibb is hiring a Data Engineer for its Cambridge office.
Developers across the board are in high demand in the UK and command similar salaries. Back-end developers can expect to earn £57,550, while full stack developers can command £56,915. Gazelle Global Consulting is currently hiring a Back-end Developer to work remotely in the UK and Starling Bank is recruiting a Full Stack Developer. Front end developers come in slightly below this at £55,342, while general software developers and net developers earn £55,015 and £52,677 respectively.
5. UX designer
In the UK, UX designers earn slightly less than developers on average, coming in at a median salary of £45,305 on average. However, this skillset is in high demand and currently Global Relay is seeking a UX Designer to deliver customer solutions. Elsewhere Global Pricing Innovations is looking for a UX/UI Designer to work alongside the product team in its London office.