Cambridge tech salaries ‘highest in the UK’
With plenty of vacancies and strong investment, the city is becoming one of the country’s most up and coming tech hubs
Cambridge is hoping to attract some of the best tech workers with median annual salaries for vacant digital roles more than £10,000 higher on average than across the wider UK.
The English city has one of the highest proportions of tech sector vacancies compared to wider job openings, with 26% of vacant roles involving a digital element, according to data from job search engine Adzuna and Tech Nation.
The remuneration is also particularly high when compared against those across the wider UK, with the median salary for digital tech roles in Cambridge being £51,225 versus £39,000 in tech roles across the nation.
The data, compiled by these two organisations, will be fed back to the Department for Digital, Culture, Media and Sport (DCMS). Cambridge is becoming a more attractive place to work thanks to the fact it houses some of the biggest tech companies, which is pushing demand for talent, according to the head of insights with Tech Nation, Dr George Windsor.
“As the UK looks to recover from the pandemic, the work of the world-class companies and talent in Cambridge will be crucial,” said digital secretary Caroline Dineage. "The city has already produced five billion dollar 'unicorn' firms and it continues to punch well above its weight - creating new jobs and opportunities for people.
“I am delighted some of the country’s leading tech talent are coming together to discuss the growing demand for jobs and skills in the area and how we can help further strengthen the UK’s reputation as Europe’s leading tech player."
According to the analysis, there are a string of vacancies for data scientists at some of the biggest companies including Amazon and Microsoft. These positions are also among the most highly-paid, with an average salary of £58,759 per year, which has risen 32.7% from the average salary offered in 2019.
The city also plays host to 86 startups and scaleups, with venture capital investment surging from $466.2 million (£358.9 million) in 2018 to $612.9 million (£471.8 million) last year.
This chimes with previous figures that emerged earlier this year, suggesting the university city is attracting four times as much tech investment as London. Cambridge secured more than £3,300 of investment per head to support its burgeoning tech hubs, compared to the capital city which attracted just £800.
Most of this investment, according to research by Pareto Law, is being ploughed into so-called ‘deep tech’ such as engineering and scientific research.
Also sure to raise Cambridge's stock yet further is the fact Nvidia recently unveiled plans to build the UK's most powerful supercomputer in the university city. The Cambridge-1 AI supercomputer would will cost £40 million to build, and would hypothetically rank as the 29th most powerful in the world would it be built today.
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