TECH OPPORTUNITIES MAKE UP 20% OF TOTAL HIRING IN LONDON
Over 20% of all jobs in London are part of the fast growing tech industry according to Adzuna, smarter job search engine and analysed by Tech Nation for UK’s Digital Economy Council.
Demand for tech products and services has boomed over the past two years, resulting in strong hiring for tech related roles in the capital. London has the highest average tech salary in the UK, advertised around £75,000.
Between January and May 2022 there were around 870,000 tech and digital job vacancies available nationally, the highest number Adzuna has ever recorded since they started collecting data in May 2022. Hiring in the sector is 42% higher compared to 2021, although the number of job roles has decreased by 1.59%.
The UK is the third largest tech ecosystem in the world. More than £12.4 billion has been raised by tech companies around the country in venture capital funding this year alone, this is already more than was raised in all of 2020, with £12 billion. London, Bristol and Oxford are ranked in the top 20 European tech hubs for funding this year. The increased availability of digital and tech related roles is linked to the UK tech sector continuing to expand across the country.
“UK tech has consistently been one of the fastest-growing industries for job opportunities over the past few years as companies compete for skilled staff to enable them to grow in a competitive environment,” said Paul Lewis, chief customer officer at Adzuna.
The tech sector continues to grow as a whole, partly due to the rapid rise of adoption of digital tools and services by organisations during the pandemic, while some tech companies have indicated plans to cut staff members. The most in-demand role by companies continues to be software developers, increasing 56% compared to 2019’s advertised vacancies making up 8% of all available tech jobs. Demand for these roles comes from both tech and non-tech companies as software developers create, design and build programmes that many businesses rely on.
There are approximately eight senior tech and digital roles available for every ‘no experience’ roles advertised, despite the fact there are more STEM graduates than there are entry level roles in the UK industry. This shows that on the job training is vital to ensure businesses have the digital skills necessary to succeed. Dr George Windsor, Data and Research Director at Tech Nation, said: “For anyone looking to enter this fast-paced and innovative industry, there is a role for you if you want it.”
According to a Tech Nation and YouGov survey, 64% of people who work in UK tech said having tech skills was essential for job security. They also found that 26% believe that upskilling themselves in new tech and digital skill will allow them to earn more.
Companies that focus on on-the-job training for future developers, including London-based Multiverse and Manchester founded Academy are continuing to help increase the talent pipeline. Also tech companies such as Google and Amazon have launched digital skills programmes to train employees across the UK.
There are almost 5 million people working in tech start-ups and scaleups in the UK. Outside of London and the South East, the North West has more tech opportunities than any other region in the UK, with over 40,000 jobs available this year, increasing 50% on last year’s figures. The average advertised tech salary in 2022 ranged from £75,223 in London to £43,068 in North East England.
Outside of London, five regions across the UK have average advertised tech salaries over £50,000, in Scotland, South East, North West, South West and the West Midlands. Tech job opportunities in Northern Ireland have increased by almost 20% of all available vacancies to 5,079 in Q1 2022.
The top 10 available UK tech jobs are:
- Software developer
- Business analyst
- Java developer
- DevOps engineer
- Project manager
- Engineer
- Data analyst
- Product manager
- Consultant
- IT system architect
The demand for Business analysts is up 650% compared to 2019, project manager demand has increased 710%. Security roles are also rapidly increasing, in particular demand for cyber security engineers doubled in comparison to 2019. This implies that companies are increasing defences against growing cyber threats with an 11% increase in security incidents last year compared to 2020. Security is now in the top five most in demand skills when it comes to tech, since 2019 it has increased 671%.
Although technical skills are vital, there has been increasing demand for softer skills from employees. Management and communication are both in the top 10 sought after skills in tech jobs, there has been a 602% growth in job adverts looking for management experience. Over a third of people working in the UK tech industry are in non-technical roles such as user experience, sales, HR and finance.
Euan Blair, CEO and founder of Multiverse, said: “As a tech industry we’ve a duty to make sure these jobs are accessible to talented people regardless of background or financial circumstances.” Blair added whether the company is a start-up or a large business, “the companies that get their skills pipelines right will have an enormous competitive advantage.”