Research from Future Fifty company and job search engine Adzuna demonstrates the impact on job creation of VC investment into UK tech companies
The research has shown that startup activity in the UK is set to create of 20,000 new jobs across the country this year. Conducted in May 2015, the research analysed over one million UK job advertisements and the hiring patterns of over 1,000 startups and tech companies to determine the number of vacancies being created, salaries being paid and the most in-demand roles. This data was then benchmarked against similar studies they’ve conducted over the course of 2013 and 2014.
Findings show that over £1.3bn of UK technology investment and crowdfunding is expected in 2015, putting startups and established companies alike on a hiring spree to attract Europe’s top talent.
Here are a few more fascinating statistics uncovered as a result of the research:
Technology-based startups around the country are currently hiring for 12,003 positions, up 40% from 8,554 positions six months ago and up 80% year on year
A new wave of crowdfunded companies, like JustPark and Adzuna, are adding to the steady growth in job creation this year
London and the South East have the biggest pull, boasting 65% of the tech startup jobs (up from 60% in 2014)
The full list is: London (51%), South East England (14%), Eastern England (6%), North West England (7%), South West England (4%), West Midlands (4%), East Midlands (3%), Scotland (3%), Yorkshire and Humberside (2%), North East England (2%), Northern Ireland (2%), Wales (2%)
Top hiring companies, graduates and skills:
The research also reveals the top hiring startup companies in the UK, with household tech names such as King, Viagogo, Songkick & Onefinestay topping the list
Over 7,000 computer scientists will graduate this summer from universities across the UK, meaning fewer than 2 applicants for every graduate tech vacancy. Compare this to the UK average number of applicants to graduate positions of 35, and it’s clear there is a massive supply-demand imbalance in the technology sector
Despite what appears to be an abundance of tech jobs in the UK, 1 in 10 Computer Science graduates remain unemployed (source: Higher Education Statistics Authority)
The average Banking IT salary is £51,158k, which is 42% higher than the average tech startup salary. For example, the highest paying graduate tech position in the city is £75k. This is what the startup hiring community is up against when vying to attract the right talent
Andrew Hunter, Co-Founder of Adzuna, said: “These exciting new figures show that the technology space in the UK has never been hotter. Startups in the UK are raising money like never before and this is leading to significant job creation around the country and, similarly to the Silicon Valley, UK tech companies are now able to stand toe to toe with the City competing for Britain’s top talent.”
Tech City UK CEO, Gerard Grech commented: “The UK tech scene is growing and with it the prospects for anyone who wants pursue a future in this rapidly evolving sector. This data builds on the Tech Nation research developed with partners like Future Fifty company Adzuna, which we compiled earlier this year. It’s not just coders that are needed, but individuals with a diverse range of skillsets from digital marketing to product management. With investment in tech at $2.1Bn in 2014 and set for record-breaking highs in 2015, there’s never been a better time to be a part of the UK’s world-class digital industries.”
If all this talk of tech advancement has piqued your interest in securing a role in the startup sphere, check out the latest vacancies listed on Adzuna.