2022: is it best to hire Software Engineers in London or New York?
London, if you have the option, as you’ll have to pay 40-80% more in NY and potentially lose 50% of candidates at offer stage, such is the competition and level of demand this year.
There are a few factors contributing to this:
- Traditional hedge funds are venturing into the Digital Assets space or looking into diversifying into the Systematic space
- Crypto firms have money to spend and little time to do it in
- Tech giants are hiring more aggressively than ever, just when we were about to see an outflow of talent from Facebook on moral grounds, Zuckerberg switched the focus to the Metaverse
- Investment banks have finally realised Software Engineers are an asset and not a cost to the business, early bonus numbers coming in are 70%-100%+ from the top banks for their top software engineers
- Hong Kong is at an even worse position than New York this year, given the political and macro environment there in the past few years. London will also have the bottle neck effect come mid Feb – July, but should just about be OK thanks to the talent inflow from across Europe
The obvious solution is increasing Computer Science seats at all the top universities across all 3 regions, however I don’t see governments being able to move fast enough on this, also the problem we face is immediate
Alongside sound advice, I have a second solution to help alleviate the problem for our clients across London, NY and HK.
In the meantime, for a more in-depth market insight and analysis please get in touch vax@durlstonpartners.com and follow Durlston Partners for the latest trends and news in the space.
#hedgefunds #digitalassets #softwareengineer #london #newyork #hongkong #hiring #2022trends #hiringchallenges #solutions