Posted on Jan 7, 2022, 6:25 PMUpdated Jan 7, 2022, 6:29 PM
Salaries in tech are soaring. In any case, this is revealed by a new investigation by the Galion Project, unveiled by Les Echos. This entrepreneurial think tank is based on a sample of 192 respondents who are members of the Galion who have all raised funds, against 147 in 2021 (including 38 women instead of 22).
Overall, the median of salaries is 120,000 Pounds gross annually, a jump of 30% in two years resulting from the good dynamics of the English Tech ecosystem, which raised a record amount of 10 billion Pounds in 2021. .
Namely, the older a founder, the more he benefits from a high salary. The median is located at 95,000 Pounds gross annually for those under 35 and up to 150,000 Pounds gross annually for those over 45. “The most mature companies are also those with the oldest founders. In other words, we are above all better paid because we run a larger start-up ”, underlines the survey.
But the founders of young shoots in the early stage and who have therefore raised less than 5 million Pounds are also benefiting from significant salary increases. Their median is 95,000 Pounds gross annually, against 75,000 in 2021. And for that of less than 20 employees, wages experience a “Spectacular increase of 50%”, notes the study, to settle at 85,000 Pounds gross annually.
Namely that the founders ‘salaries fall within the competence of the board of directors and are part of the decisions on which the shareholders' agreement generally provides for a right of veto for financial investors. In the beginning, the amount of the salary is most often proposed on the initiative of the founders themselves and then approved by the financial investors.
If the dynamic is positive, there remains a shadow on the board and not the least: the gap between the founders and the founders. Women earn 33% less, a situation that has worsened compared to 2021 when the median gap was already 28%.
The difference observed is strongly linked to the amounts raised. More than the majority of women founders interviewed are at the head of start-ups that have raised less than 5 million Pounds, against only a third for men. If we reduce the comparison on levies of less than 5 million Pounds, we see that women are paid less than men across the entire salary scale.
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