Maybe compared to the crazy US salaries you see here, but compared to continental Europe, CoL adjusted UK salaries are difficult to beat and also you have a lot more interesting opportunities there vs here where it's mostly small web-shops or big name consultancy sweatshops.
Wanna see low (CoL adjusted) tech salaries? Try Spain/Italy/Austria/France where they shaft you with high taxes and there are no top tech opportunities.
Even if you adjust for healthcare, even if you adjust for cost of living, UK tech salaries are simply bad. I don't know why, and my only hypothesis is that there just isn't much respect for tech workers in the UK in general, or companies don't make much money.
I'm not asking for a Bay Area 150k, I'm asking for 35k outside London for a junior role and 45k for a mid role. It's unlikely I'd get it. The number of people who brush this huge discrepancy off with "healthcare costs" (which, in the US, is a matter of company-paid insurance), or "safety" (as if that's something which should cost half my salary in the developed world) or "social safety net" (something I'm happy to pay for, but that comes out of tax which I already pay, not the take-home) is ridicuous.
There's no way around the fact that UK tech salaries are low, even accounting for the high tax in Western Europe, and I'm tired of being told that they are in any way equivalent to US (non-Bay) adjusted for CoL and healthcare. I'm paid poorly, and if I could access the US employment market, I'd be paid at least 1.5x before converted to USD no matter where I am.
The fact that things may be worse in France or Italy doesn't mean anything to me. In fact, it just makes me surprised that the UK has done well in comparison.
I will and do pay as much as I can afford to secure developers who are actually good at their job. I can't really comment on why they're so hard to find, but my experience is that they really are.
Maybe it's the side effect of there being very few of the kind of developers who could command those SV level salaries in the UK, or maybe they just aren't in the market for my kind of opportunities. It's a hunch that would require more data because I've not hired developers in the US so I don't actually know if there's a quality difference.
Anyway, I'm hiring at the moment.
If you make less than 40K£ in London, you are likely to experience a form of poverty that is unseen in the continent (pests in your flat, revenge evictions, very very bad healthcare, etc…). Outside of London, salaries are ridiculously low.
And most who stayed at one job haven't gotten any significant salary increases unless they job hopped often which brings it's own problems later in ones career.
Edit: Had a quick look at jobs in Munich and curious where those high salaries are as 80k for senior positions on 40+h/week seem like a joke to me considering how expensive it is to live there and how high taxes are.
80K€ in Munich is a good salary, considering that you don’t have to pay for private healthcare (in the UK you have to), education is free (in the UK it costs a fortune, either in private school fees or in housing premia) and rents are much much lower than in London (for equivalent properties).
Taxes are higher in Germany, but not extremely so if you account for child deductions and family support. A family of 2 in London making 80K per annum, will spend ~20K to send a child to a random nursery, 5-6K£ in healthcare and 2K£ in public transport (just to name the first 3 thing that come to mind), and will be much poorer than a German family making 50K€ per annum.
While everybody I know who rented in London had to deal with mice or bed-bugs (and I don’t fully understand what these are, because before coming to London I never heard of them), at least those on low income, I don’t know of any other place where this is even remotely true.
In reality, most tech jobs are the small web-shops or big-name consultancy sweatshops (one particular example is Edinburgh, huge market for tech jobs, there are quite a few startups now but the tech industry ten years ago, the period when the OP occurred, it was mostly sweatshops...and still is to a large extent, large companies who open up an office but labour is cheap, and will head off to Eastern Europe if wages rise). Starting salaries under £20k are not unusual in the UK, and startups are still definitely the exception outside London. In particular, the market for grads in the UK is very difficult...it is very, very hard to get your first job because there are lots of scammy companies offering slavery wages, lots of consultancies looking to churn staff, and a relatively small number of decent companies that often aren't particularly good at hiring (or willing to train, or willing to take risks...the UK job market is flexible relative to Europe but not flexible enough that employers don't view hiring someone as a big risk...because it is).
To say this another way, the UK does have some startups where you can make decent money...but the core of the industry that employs most people is just like Europe (because the UK still isn't very well-developed outside London).