Want to work at Facebook? London pay is rising, along with headcount and tax
Thinking of leaving an investment bank to work for Facebook? If you're in London, you're in luck. Facebook hired 330 people in London last year, and they weren't all engineers.
Of 1,290 employees in London at the end of 2017, 578 were in sales, support and marketing and 712 were engineers. Both areas are growing: Facebook added 175 engineers last year and 144 support people, salespeople and marketeers. The social network spent £56m more on research and development in 2017 compared to the previous year, the majority of which were personnel-related costs, including share-based payments to senior-level engineers.
Average pay at Facebook in London was around £206k for 2017, around 54% of which was salary, with the rest paid in pension and shares. One year earlier, average pay at Facebook UK was £187k.
At Goldman Sachs International, average compensation is closer to £399k. It's easy to see why technologists at banks in London might be tempted by Facebook though. Although Goldman Sachs is said to have hiked pay for entry level engineers to $100k (£75k) in the U.S., juniors in London complain that it's very hard to earn good money in banking. T
Facebook UK increased revenues to £1.2bn last year, a rise of over 50%. It also increased the amount of tax it pays - from £2.5m to £17m, or 27% of 2017 profits. Due to the near £15m increase in taxes, Facebook saw a £10m dip in profit compared to the previous year. In December last year Facebook announced plans to hire 800 more people in the UK. It's currently looking for someone to help it recruit university students in the country.
Have a confidential story, tip, or comment you’d like to share? Contact: email@example.com
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)