The technology sector has been expanding at pace for some time as businesses digitise more of their processes and rely increasingly on software for everything from accounting to communications. This industry boom has led to the demand for highly qualified tech talent hitting new heights and opportunities for candidates looking to develop their careers.
While the tech industry’s growth is a global trend, the UK has seen particularly significant expansion, with the sector being valued at $1 trillion – the third-largest in the world. Scotland contributes significantly to this figure with its high number of dynamic start-ups and established tech brands. Recent reports show that Edinburgh and Glasgow are among the top five cities in the UK in terms of tech investment in 2022, with £115 million having been raised by companies across the two cities.
In addition to this significant investment and growth, Scotland was also found to offer the highest regional salaries for tech roles outside of London, with vacancies in Edinburgh advertising the highest average salary of £58,405.
“The development of the tech industry and the level of investment in both companies and candidates is amazing news for the Scottish employment sector,” says Douglas Hamilton, MM Search’s Associate Partner. “With many exciting companies willing to invest in finding the right talent, we predict that we’ll see more interest from candidates around the world in 2022 and beyond. Rising tech sector salaries in Scotland could also have more widespread benefits as they may contribute to the improvement of the economy at large with higher tax contributions and more public spending. This, in turn, may attract further investment and growth in the Scottish tech market’s international presence.”
The rise in demand for highly skilled tech candidates has contributed to MM Search’s decision to launch a dedicated IT Tech Executive Search Division. This development will mark the first specialised sector at MM Search and enable the team to build upon their existing work with technology-based talent. “In recent months, more than 20% of the roles we are working on are in the IT sector,” says Douglas, heading up this new division. “This is a steeper rise than we have ever seen before; however, the need for talent in this sector shows no signs of abating, and we predict that we will continue to place a high volume of tech candidates in the coming months.”
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When demand is high, qualified candidates can be more challenging to find and secure; however, a recruitment specialist who understands your industry can transform your search process. By leveraging our experience, knowledge and network, the MM Search team can support you in finding the best talent to achieve your business goals. Contact us to find out more about our unique people-first approach to executive search, contact us today.