Salaries in the tech sector are forecast to grow faster than in any other in 2018 (even finance)

 
Lynsey Barber
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Coders will inherit the earth... or good starting salaries, at least (Source: Getty)

Technology workers can expect the biggest rise in salaries in the coming year as demand for the highly skilled workers grows and businesses try to compete for talent.

Starting salaries in tech are expected to grow by 1.9 per cent in 2018, ahead of the 1.4 per cent expected across the board and more than in other industries such as financial services and accounting.

Industry

Average starting salary increases

Technology

1.90%

Administrative and office support

1.85%

Accounting and finance

1.40%

Financial services

1.22%

National average

1.40%

"In an effort to win the war for top talent, organisations are willing to pay a price for those with the right skills to support their business goals," said Phil Sheridan senior managing director of Robert Half, the recruitment consultancy behind the figures.

Read more: Brexit has put foreign workers off coming to work in UK tech

Junior developers are expected to command a salary increase of 4.5 per cent and business analysts a rise of 4.4 per cent, ahead of the likes of chief finance officers and financial controllers (four per cent), as well as fund accountants (4.5 per cent).

Job Rise in salary
Junior developers 4.5%
Senior business analysts 4.4%
Fund accountants 4.2%
Chief financial officers 4%
Financial controllers 4%

“In the face of an expanding skills shortage, organisations are thinking about what they can offer alongside competitive salaries to attract new staff and entice experienced professionals with the right skills to join the business,” Sheridan added.

“Rather than just competing on salary alone, many businesses are looking beyond pay and at the full package they can offer to keep staff engaged, motivated and happy.”

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