Thinking of a Career in Tech? Now's the time and here's why!
5 REASONS TO WORK IN TECH
2021 saw the UK Tech sector achieve its best year ever. More investment, more jobs, more R&D and more opportunities. We believe this growth is a sign of things to come, which makes now a better time than ever to kickstart your career in Tech.
The sector is growing across the country
With more money than ever flowing into UK tech, businesses across the country are growing at an accelerated rate.
In a recently published ‘Levelling Up Power Tech League’ it revealed that Cambridge is the leading regional tech city in the UK thanks to its combination of high levels of VC funding, venture capital rounds, advertised tech salaries, number of unicorns (tech companies worth more than $1 billion) and futurecorns.
Manchester came in second, and Edinburgh, Cardiff and Belfast are also in the top ten for capital raised, showing just how much the tech sector has spread across all regions and countries in the United Kingdom.
We're seeing record investment in UK tech
Regional growth took place alongside an incredible year for the UK tech industry.
This growth saw UK tech capture more than a third of tech investment across the whole of Europe, a total of £29.5bn which is double that of second-placed Germany with £14.7bn. Showing us that investors take UK tech companies seriously, investing in their sustained success for years to come.
More Unicorns have been created than ever before
First off for those of you who aren’t familiar with the term here’s an explanation. A unicorn, in business terms, is a private company that has reached a valuation of at least $1b.
More funding means more unicorns and 2021 saw rise to a total of 29 newly created unicorns which is more than France and Germany combined. Some familiar names include e-commerce platform Depop, car selling platform Motorway, Insurance giant Marshmallow and the challenger bank Starling Bank.
This means the UK’s total number of unicorns is 115 (as of December 2021) meaning that 25% of the UK’s total unicorn count came from 2021!
What’s more is that 30% of new unicorns created in 2021 are outside of London, showcasing the breadth of talent across the UK.
More Jobs, More Opportunities
This increased level of monetary investment going into UK tech also means companies need to re-invest back into trained technical and business staff.
Using Data from Chris Philip MP Press Release we know that in 2021 the UK saw a 50% rise in overall UK tech job vacancies advertised this year compared with figures in 2020.
Interestingly Software Developers are still the most in-demand tech jobs across the UK. Developers also remain amongst the highest earners with an average salary offering of £64,318, a 12% increase on 2020’s figures. If you are interested in pursuing a career as a software developer we might be able to help you – head on over to our Software Development Academy page to find out more.
We couldn’t bring up the topic of jobs without talking about the effect of remote working. The government’s enforced work from home rulings brought about unprecedented change across all sectors. It’s thanks to this shift in mindset that larger businesses are now realising that physical offices could be an inhibitor and returning to an office might not be the ideal solution for everyone, allowing them to hire from further afield thus increasing their talent pool.
In summary, the UK’s tech sector is continuing to grow coming into 2022 and – we say this with high hopes – as restrictions begin to lift and the world returns to normal surely it can only get better? Here at TechTalent Academy, we use real-world industry data to present real working solutions to our learners, funding partners and corporate partners. Reach out to us today to find out more.