As part of our own internal data science program here at Hoxton, we have the benefit of some great data sources and surveys that are proprietary as far as I can tell to only us in Europe.
One of our founders recently asked us about country by country salary trends in Europe and I did an analysis to understand the pay trends and relative levels between major cities.
Across the continents, salaries took a dip on average around September 2022 but have since April 2023 crept back upwards towards early 2022 prices, reflecting there’s clearly not much slack in the market in any particular country, however the variability between countries is striking.
As shown below you can see that for example at the general “software engineer” title level, Poland is approximately 50% of the UK salary in nominal dollar terms.
UK – SWE
Poland – SWE
Looking at May 2023 for example the UK is almost double the average offer in Poland.
France – SWE
Data points are more sparse in France but still a bit behind the average UK salary.
Germany – SWE
The volatility is quite a bit lower in Germany; we saw a generally flat year so far and haven’t noticed much exceptional going on. Again, salaries are still lower than the greater UK.
Spain – SWE
Spain is a bit of a dark horse – compared to overall pan-European jobs, the Spanish tech market has quite robust salaries and probably yields more buying power per capita than most of the other cities listed here.
Overall, this quick analysis shows that the market for engineers remains strong in Europe and salaries haven’t dramatically risen or fallen in any meaningful way, although they’ve crept up after a dip at the end of last summer.
Thoughts? Drop me a line on Twitter @RobK
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