On the other hand, there are additional things that are paid for because of various legal differences between the the UK and the US (such as paid maternity leave, paid sick leave, and employers have to pay a tax for each employee called National Insurance which effectively funds the state pension system). The law also gives all employees 5.5 weeks of holiday (though there often some restrictions on when it can be taken).
> The starting salary for a new graduate in the UK is probably in the range of £25-£33k,
Are you talking about starting developer salary? That seems really really low! Why wouldn't UK devs simply relocate to the US where they could make a lot more right away?
Apologies, I don't mean to pontificate...it just befuddles me why a UK developer wouldn't want to move, if only for a little while.
Almost all companies have a pension scheme too which are usually something like matched contributions - the employee contributes X% of their salary, and the employer contributes an additional X% of their salary up to some threshold (usually 5-10%).
Starting salary for any graduate job is about that in the UK, and most of Europe too. I suppose that the cost of upping and moving is significant enough to put people off. Plus, the difficulty in getting a visa is likely a major factor.
I hear contracting for day rates in London is the route to ££ in the tech field over there (or working for a US-based company), but the salaries/equity on offer in the US even for non-rockstar positions dwarf what UK employers are able or willing to provide.
The UK massively undervalues and under-compensates its technical talent, it's a big part of why I left the country.
Manchester here too, though I work remotely for a mainly London based company. I think salaries are climbing here, as more business comes but we don't have the same size talent pool as London so the demand is pushing things up.
I work in a small medtech in Manchester UK (like a scaled down Boston!) and simply currency adjusting these numbers would make for attractive offers here. For example I've a PhD in computer vision, 20 years building and selling medical device approved imaging software in the EU & US and have yet to be offered anything close to $100K (yes dollars) and options that would impact on anything I do. I'm good at what I do too. I just think the UK investment attitude is totally different.