5 May 2016 11:21am

Tech salaries reach £90,000, Glassdoor study finds

The top paying companies in the UK are in the tech, banking and consultancy sectors, a new report from recruiter Glassdoor said today

A shortage of the highest skilled employees are driving up salaries in the technology sector, said Glassdoor’s chief economist Dr Andrew Chamberlain.

“Booming demand on a global scale for software engineers, database administrators and data scientists has far outpaced the supply of these skilled, hard-to-find employees,” he said

Software heavyweight SAP is the highest paying employer in the UK, with a median total compensation of £90,000.

McKinsey & Company was the highest paying non-tech company, and third in the list. The consultancy paid a median total compensation of £85,499.

High salaries in the consultancy sector are due to barriers to entry, Chamberlain said.

“Top consultants have personal contacts, reputations, and specialised skills and knowledge. Many clients stay with the same consultant for decades at a time. As a result, these employees are even more valuable to their employers, pushing their salaries to sky-high levels, and making it tough for other people to compete for their jobs,” he said.

Deutsche Bank was sixth in the list, and the highest paying bank, with £75,000 median total compensation, while Facebook and Google were fifth and ninth, paying £79,500 and £73,000 respectively.

But a Morgan McKinley report, released in March, showed that accountancy salaries were up, due to an impending skills shortage in the sector – with accounting and finance professionals at the mid-career level earning salaries up to £50,000.

Ellie Clayton

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