Odgers Berndtson partner and head of technology and IT services Michael Drew offers some insights into key hiring and firing trends in the broader technology space.
In the UK and Europe there are two sides to the technology industry. On one side, there is the homegrown sub-set; native companies that have grown up in that territory, with their full corporate head office and all sales, marketing, HR and engineering based there. Then there are the subsidiaries of the US tech giants, the likes of Microsoft and Amazon, which are sales arms of the parent company and provide delivery functions for their key services.
This means you have a smaller number of chief executives, as the industry is dominated by the US companies. These native company CEOs are paid at the highest rates of the industry. There are a small number of listed tech PLCs whose CEOs are paid upwards of £500,000 as a base salary, rising to several millions through long-term incentive plans.