March 23, 2016
There will be little change in this situation during 2016. Jobseekers, aware of the high attrition rates among start-up companies, will be increasingly keen to attach themselves to businesses whose founders have an established record of success.
The recruitment environment in San Francisco, fuelled by social media, is as transparent as it is competitive. This means that providing a smooth and enjoyable interview experience is essential for hiring managers aiming to project a positive and desirable brand image to the most talented and exceptional candidates.
We expect to see a number of market sectors that achieved prominence in 2015, including machine learning and the on-demand or socalled gig economy, to continue their rapid upward trajectory in 2016.
Data scientists, product designers and mobile specialist marketers will be in great and growing demand in 2016. Business operations professionals, often former management consultants or investment bankers seeking a start-up environment, will also be increasingly sought after to provide an analysis-driven financial angle on business strategy.
The structure of financial offers made to candidates by tech firms will increasingly depend on whether the individual would rather have a higher salary or a substantial share of equity in the company. As a result, there can often be major differences, sometimes amounting to six-figure sums, between the salary levels offered by two different companies for essentially the same position.
In addition, later-stage companies, where early joiners have already received a high proportion of equity, are likely to pay significantly higher salaries. Similarly, very early-stage start-ups offering equity frequently offer very low initial salaries due to their confidence in the ultimate value of the equity available. Organizations such as Google and Facebook in particular, meanwhile, are renowned for offering top talent remuneration packages so far above average market rates that only competitors of an equivalent scale can match them.
Unprecedented venture capital is evident across the San Francisco Bay Area, with investors seeking the next generation of businesses to deliver massive returns. Despite some concerns about the market softening, we expect to see many new angel investors enter the market in 2016, as an anticipated series of initial public offerings (IPOs) produces a new generation of multi-millionaires keen to put their money into the next big thing.
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For more information:
Simon Bromwell, Managing Director (San Francisco)
Tel: + 1 415 549 2000
About the Robert Walters Global Salary Survey
Welcome to the seventeenth edition of the Robert Walters annual Global Salary Survey.
First released in 2000, the survey is a comprehensive overview of global salaries and recruitment trends across the world.
The Global Salary Survey is based on the analysis of the permanent, interim and contract placements made across each of our geographies and recruitment disciplines during 2016. This now covers data across 24 countries, including the UK and Ireland, Continental Europe, the Middle East, Africa, Asia, Australia and New Zealand as well as North and South America.