Europe salaries
It is surprising to how UK and rest of Europe top-tier techies too receive average salaries, unlike top-tier US or India techies who make a lot in their country considering the cost of living. I understand that its because of demand and supply. Who are those people who could afford those 40k+ pounds valued cars or 8M pound houses in Central London(which btw seems to be the bare minimum to buy a decent house)? Are they mostly only lawyers/doctors? In India and US, top-tier techies can afford such homes/cars with their pay. But who can in UK or rest of Europe with their average salaries? Would love to see some responses from native Europeans. PS: I am not counting businessmen or those who inherited the property from their parents. #tech #London #Europe #UK #India #USA #FANG #Salaries #US #meta #google #amazon #spotify #yelp #facebook
London also host a lot of international rich ppl coming to live here. Mostly businessman and owner of companies. Techies in Europe are like any other professional worker. Not x10 of average salary like in the US
But doctors and lawyers are much higher than average, correct?
@blindify Not really. Software engineers at FAANG still earn more than doctors most of the time.
London is mostly owned by international millionaires specially central London. Also, normal houses in UK is smaller than US in general and they are smaller in London than rest of UK. So these 8M house not the common or the standard for decent house in London and most people with small families prefer to stay out side of central London and to buy in an area with outstanding schools instead of sending kids to private schools. SWE can afford 1 to 2M if they are in early to mid 30th which still considered good comparing with majority of Brits. The size of 1 to 2M house will vary depend on how far you are from central London.
Got it. Do you think London's tech salaries can improve in the near feature? At the moment, well known tech companies in London are pretty low compared to US/India
No. It won’t. Why will it?
All Salaries are ceiled by how much money one can bring/save for the company. From zero to that ceiling, it’s all about RARITY (supply and demand). Because there are little VCs in Europe, And little jobs from US companies, SWE are not rare, large European companies do not need to raise salaries much to get the best local SWEs. In the US there is much more competition for the SWEs, so their compensation increase. Nothing to do with Social Security, Benefits, or Culture. In theory, in any Country, if a Janitor company became the only company able to provide janitors, each janitor could locally be a top earner.
While your usage of caps is questionable, your answer is spot on.
London is dominated by banking sector. Lot of the VPs which is not that hard to reach at these firms make good money