London challenges Silicon Valley in the USA with major investments in UK technology companies. Tech City reports that 20,000 new jobs in the city came into being as startup jobs in London during 2015. Venture Capital (VC) investment in companies providing the best tech jobs London has to offer creates an enormous opportunity for those that live in European Union (EU) member states, as well as non-EU foreigners, to participate in the expansion of the new tech jobs London has to offer.
Startup Jobs in London
The highlights of the Tech City report concluded that the recent VC investments in UK companies that focus on technology were the support for the 20,000 new jobs. These numbers came from the analysis of more than 1 million advertisements for open job positions and the patterns of startups in the UK as they make new hires.
Startup jobs in London offer excellent opportunities. Many new jobs created by the startup jobs London has to offer are in areas that require technological skills and offer high pay when compared to the average startup jobs UK has on offer.
The creation of new jobs in the UK increased in 2015, when compared to the previous years of 2014 and 2013. The article in Tech City notes that more than £1.3 billion of investment money went to UK startups during 2015. These funds came from VC investors and the crowd funding systems.
Hiring Spree in the UK
Because of the investment funds flowing into the technology sector in the UK, the startup companies have gone on a hiring spree. Each one wants to attract the best talent available.
Comparison of job demand for the technology sector from previous years shows that currently in the UK there are over 12,000 open positions. This is 40% more than a mere six months ago and 80% more than last year.
The South East and London are showing the most activity. These two areas represent 65% of the startup jobs in the technology sector. The demand for qualified workers increased from 60% in these two sectors to the current level of 65%.
The breakdown for specific areas in the United Kingdom for the percentages of new job creation is as follows:
- London (51% of the new jobs created)
- South East (14%)
- East (6%)
- North West (7%)
- South West (4%)
- West Midlands (4%)
- East Midlands (4%)
- Scotland (3%)
- Yorkshire/Humberside (2%)
- North East (2%)
- Northern Ireland (2%)
- Wales (2%)
This new job creation is good news for the over 7,000 graduates this year who received a degree in computer science. The numbers are very encouraging for those newly graduated students that look for a job. There are less than two applicants for every new job created in the UK.
For other job categories, there are usually more than 35 applicants for each job. This demand for skilled workers creates opportunities for UK workers and foreigners with the appropriate jobs skills that want to work in the UK.
Salaries for Tech Job Positions
For those that specialize in Information Technology (IT) for the banking industry the average annual pay is £51,158. Banks pay good salaries for IT specialists that are about 42% higher than other IT startup companies offer. Nevertheless, the best-paid IT experts who land the highest paying jobs earn about £75,000 per year.
Andrew Hunter, who is the founder of a recruitment agency said, “… the technology space in the UK has never been hotter. Startups are raising money… leading to significant job creation… UK tech companies are competing for … top talent.”
The CEO of Tech City, Gerard Grech agrees. He said, “The UK tech scene is growing and… so are the prospects for anyone who wants to pursue a future in this rapidly evolving sector.”
Program coders are needed and other individuals with diverse skills in the fields of digital marketing and product management are highly desired.
Here are a few examples of the startup jobs in London related to the tech sector:
- Web Designer – There is an online magazine for UK web designers called UK Web Design that is a helpful resource to see the best examples of high quality web design. A web designer has the ability to create an elegant design for a website. A web designer’s challenge may be to create a distinctive overall look of the entire website or focus on specific areas of the website.
- Web Developer – These are software coders who specialize in making websites function well and making them display properly on a multitude of portable devices.
- Software Programmer – Programmers work with the popular software languages such as C, C++, Java, Php, Python, and others. They create business applications, video games, software tools, software as a service (SaaS) in cloud service operations and more.
- Software Development Manager – This is the project management position for a team leader of software programmers.
- Network Administrator – This job entails supervising the operations of an organization’s network to make sure it runs efficiently and performs the critical functions necessary to keep the information flow secure and available to the appropriate parties, 24-7, with minimal downtown.
- Security Specialist – Every organization, including startups, need to take IT security very seriously. Corporate espionage, hackers, and other security threats are capable of destroying a business.
- Social Media Manager – This position is incredibly important to startups that do not have the advertising budget to pay for a marketing campaign. Many startups find early adopters by reaching out to potential supporters using social media.
- Online Publicist – This can be an outside consultant, a firm, or an in-house specialist depending on the needs for quality content. One of the surest ways to attract attention to a website is to publish useful content that attracts constituents.
- Press/Media Relations – Depending on what the organization is promoting, a person in charge of press and media relations can be a useful addition to the startup team. The job is to get the company’s message out using free editorials and guest appearances of the executive team that advance recognition of the organization and its brands.
- Investor Relations – This is one area often neglected by startup companies to their detriment. Early investors are the best promoters of any company. Investors need to be excited and informed about what is happening. Neglecting communication with investors is a mistake to avoid.
- Consumer Relationship Manager – One of the most expensive things a startup company has to do is acquire customers. Once a customer is found, it is far less expensive to retain them than it is to find a new customer. A Customer Relationship Management (CRM) specialist focuses on keeping existing customers happy, asking them to buy more products and services, giving them discounts for frequent business dealings, and making sure every existing customer knows that they are appreciated. Word-of-mouth promotion is still the most impactful form of endorsement. Forbes notes that word-of-mouth is the most important factor in promotion of any organization or brand on social media.
The few job categories discussed above are only a tiny portion of the more than 20,000 new jobs created by investment in UK startups during 2015. Because of the shortage of qualified workers for these positions, non-UK citizens are encouraged to apply for these positions, which are featured in the listings on JobsEngine.com.