Adam Mosseri is moving to london. The move was made due to the global nature of Mosseri's role.
The company's largest engineering hub outside the US is London.
According to The Guardian, Mosseri will be looking to hire more people. Staff in the UK capital can expect to make less money than their counterparts in the city.
There is an inflated level of demand for tech specialists in the US city and a higher cost of living.
Workers in San Francisco make more money than their London counterparts.
Meta's average product manager in London makes over $150,000 a year, according to data from the employee review site Glassdoor. The company's product designers make an average salary of over $120,000 a year.
Three product managers hired by Meta in the last year were paid between $180,000 and $210,000. According to publically disclosed foreign labor data, a product designer was paid a base salary of nearly $200,000.
Chris Abbass is the head of Talentful, a recruitment service for tech companies that operate in San Francisco and London.
Inflation and demand for tech specialists are pushing up salaries, but there is still a big difference between London and San Francisco.
Even though Meta is one of the highest paying tech companies around the world, hiring in London is cheaper than in San Francisco.
The sheer volume of high-growth tech companies in San Francisco creates massive demand for highly skilled workers, which pushes up salaries faster than in other countries.
The cost of living is one of the reasons for the pay disparity. According to Numbeo, San Francisco is the 14th most expensive city in the world. London is the 40th most expensive city in the world.
According to an Insider report, locals in San Francisco claim they need $1.7 million to be financially comfortable and $5.1 million to be wealthy in the Bay Area.
"Californians' costs of living are often higher, and they can expect to drive more, pay more for food and rent, and so on, which puts more pressure on businesses to raise salaries," Abbass said. In America, the infrastructure and social support are not as strong.
The average monthly cost of living in San Francisco is more than 1,300 dollars a month. A single person in London can make an average of $1,100 per month before rent.
London has a better social support system than the US, with free healthcare and better transportation infrastructure.
Abbass said there is still a significant gap between London and San Francisco salaries for skilled tech roles due to the sheer number of high growth tech companies in the US city.
San Francisco has historically been the leading hub for major tech companies such as Meta, despite the fact that London is home to an exciting and fast-growing tech scene. The demand for skilled tech workers in the city has caused their salaries to increase.
All Rights Reserved © 2024
