Tuesday, October 17, 2017

The end of Silicon Valley? Here’s how much software engineers earn worldwide

From Silicon Valley to Sidney, technology related jobs are some of the most well paid alongside physicians, lawyers and research and development specialists.

Software engineer salaries are likely to be nearly two thirds lower depending on where a worker is based, a recent survey carried out by Hired has revealed taking into account 280,000 interview requests and job offers posted by more than 5,000 companies to 45,000 potential employees.

For example, a software engineer based in Paris is expected to earn on average $55k, much bellow the most well paid software engineers in the San Francisco Bay Area who cash in on average $134k per year.

The US is in fact the country that pays the highest salaries, which according to Hired has to do with the maturity of the market.

Cities such as Seattle, New York and Los Angeles are the next on the rank at $126k, $120k and $117k respectively.

However, this is not a trend that is found across the whole of North America. For instance, a software engineer in Toronto, Canada, ‘only’ earns on average $74k a year.

This lags behind places like Melbourne and Sidney where salaries top $83k and $81k respectively.

Paying the least together with Paris are London ($73k) and Singapore ($61k).

Source: Hired

Yet, when salaries worldwide are adjusted to the cost of living in San Francisco, the rank shifts completely.

According to Hired, in this scenario, Austin comes first with salaries averaging $198k.

Toronto, which in gross salary is behind most North American cities, also comes quite high at $149k.

All the cities outside North America also reached figures much higher. Sidney and Melbourne hit $205k and $165k respectively, while London topped $104k, Paris $98k and Singapore $90k.

In the report, Hired said: “For decades, Silicon Valley has been the epicentre of the tech industry, but the rise of new technology and innovation hubs across the United States and the world are challenging the Bay Area’s reign.

“Our analysis shows it’s a great time for tech workers to consider a role outside Silicon Valley.”


Race and age are still looked at by employers

Source: Hired

Hired has also looked into the role of race and age when it comes to software engineers’ salaries in the US.

The company has found that black workers are the least well paid with the average salary being up to 8.6% less than white colleagues ($115k compared to $125k).

Latinos and Asians sit in the middle, with average salaries of $120k and just over $123k respectively.

Hired said: ” When we look at our two largest markets on Hired’s platform, San Francisco and New York, the average African-American candidate on the Hired platform is 49% more likely to get hired than the average white person.

“Interestingly enough, the average Latino candidate is 26 percent less likely than the average white candidate, and the average Asian candidate is 45 percent less likely.”

In addition to race, Hired has found that Ageism is still playing a role when it comes to employing and setting the salary of a given worker.

The survey has found that when workers turn 45 years old, their salary stops matching their experience and becomes more based on age and their ability to fit within a company’s culture and even the knowledge that given worker has with the latest technology.

Source: Hired

“Candidates between the ages of 25 and 30 receive the highest number of average job offers. Once candidates pass the age of 45, however, they begin to see a decrease in their average salary and the number of job offers they receive.

“While salaries peak around ages 45-50, after the age of 50 we see a significant decrease in these individuals’ ability to draw salaries commensurate with their experience.

“Companies offer an average of $132k to candidates between age 50 and 60, which is on par with what they’re offering to candidates who are ten years younger, and presumably, who have ten years less experience.”