After analysing data from the Office of National Statistics (ONS) on the British labour market, employment agency Reed has found 1.7 percent growth in the advertised salaries for jobs within the tech sector, one of the highest growth rates across all industries.
As the demand for workers with digital skills continues to outstrip supply at a significant rate, the study also found that throughout 2018, the technology industry saw the greatest increase in job advertisements – 10 percent more than the number posted in 2017. This comes after the tech sector witnessed a 12.2 percent increase in 2016 and 12 percent in 2015.
PHP developers saw the biggest average increase in their advertised pay packets, up by 6.9 percent from 2017, while java developers and data scientists saw an increase of 6 percent and 5.9 percent respectively.
There was also a 41 percent increase in listings advertising vacancies for full-stack developers however, despite the increased demand for these workers, the advertised salary for the role only rose by a comparatively modest 4.3 percent over the same time period.
Tackling the skills gap
Given the current industry skills gap, the results of the study, which pulls data from 10 million job listings posted since 2015, are relatively unsurprising. The number of technology roles advertised since the start of 2018 have already seen a 10 percent increase, with more specialised roles such as data scientist, .NET developer and BI developer all enjoying growth in advertised vacancies that far exceeds the average demand for roles across all other sectors.
Another factor that has been attributed to this substantial growth in advertised technology roles is Brexit. Currently, a significant number of development roles in the UK are held by EU nationals, however as the political climate fails to steady itself and EU citizens remain unclear on their post-Brexit status, many are choosing to seek employment in other countries across the continent.
Widespread digitisation has forced companies of all sizes and across all sectors to put IT at the heart of their business strategies. As organisations come to terms with the range of evolving skill sets they now need within their technology teams, we can expect to see further growth in both the salaries and number of job vacancies in the coming years.
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