Tech City UK has released its annual report into the state of the UK’s tech and digital sector, and there’s very good news for those considering a career in the industry.
The publicly-funded business management consultancy has revealed that the average advertised salary for digital and tech jobs has now reached £50,663. This is an increase of 13% since 2012 and is considerably higher than the average advertised salary for non-digital jobs which currently stands at £35,155. Non-digital job wages rose by just 4% since 2012.
The Tech Nation 2017 report also revealed that:
- Over 1.6 million people currently work in the sector
- The UK digital and technology industry is growing twice as fast as the wider economy
- Tech careers now pay nearly 45% over the national average wage
In 2016, the UK was ahead of the rest of Europe in terms of the size and value of its tech industry. Investors from all over the world put a huge £6.8 billion into the sector, while France and Germany – the UK’s closest rivals – only managed to secure £2.4 billion and £1.4 billion in investment respectively.
A potential skills gap, Brexit fears and challenges to come
Despite all of this positive news Tech City UK’s CEO Gerard Grech also outlined the challenges the industry faces if it is to keep up with this level and pace of growth. He said:
“Tech Nation 2017 shows how rapidly the UK’s tech innovation and productivity are gathering momentum. Tech careers now pay 44 per cent more than the national average wage. These foundations will be crucial as we prepare to leave the EU.
“We need to maintain access to skilled workers while doubling down on home grown tech talent. And we need to think big. This report is all about working together on a common vision: the UK as a global leader in tech.”
In a foreword to the Tech City UK report, UK Prime Minister Theresa May also offered a comment on the significance of the tech industry and its rapid growth in the wake of Article 50 being triggered. She said:
“As Prime Minister I am determined that we will build on this success as we seize the opportunities that arise from leaving the EU and seek to build a bold new future for our country.
“That is why support for the digital tech sector is an important element of the government’s modern industrial strategy, helping to deliver a high-skilled, high-paid Britain where opportunity is spread across every community, not just the traditional areas of London and the South East.
“We will expand the scope of our digital tech industries, funding Artificial Intelligence, robotics, 5G, smart energy and more. We will broaden their reach across the UK, create new Institutes of Technology, and reinvigorate STEM and digital education to equip young people for the workplaces of the future.”
If you’re considering a career in the tech industry or you’d like to develop your existing digital career further, now is most definitely the time to do it. Get in touch with SOLOS Consultants, specialists in IT, tech and digital recruitment.
photo courtesy of Stuart Miles @ freedigitalphotos.net