China tech crackdown: Beijing not among peak 10 world cities with best-paid programmers
Beijing, which attracts a couple of of China’s most talented tech team of workers, fell out of the best possible 10 best-paid global cities for programmers this 365 days after score 10th in 2020 with a median annual pay of US$100,000, in keeping with US crowdsourced wisdom corporate Levels.fyi.
As in 2020, this 365 days’s global rankings have been led by way of Zurich, where programmers earned a median income of US$200,000, followed by way of Tel Aviv at US$190,000. Other top-paying cities included Sydney, London, Amsterdam, Vancouver, Tokyo, Munich, Dublin, and Toronto.
A separate score for US cities was once as soon as topped by way of the San Francisco Bay Area – space to many Silicon Valley team of workers – followed by way of Seattle and New York, where programmers have been paid a median salary of US$240,000, US$215,000, and US$190,000, respectively.
As for firms, Beijing-based TikTok owner ByteDance – which employs team of workers in the United States – presented necessarily essentially the most generous median salaries among Chinese language language firms. It paid senior engineers, who most often have more than 5 years of programming experience, US$430,000 a 365 days – landing the unicorn in fifth place after US pals Netflix, fintech start-up Stripe, Pinterest, and online brokerage Robinhood.
In 2020, ByteDance were given right here in seventh with a median income of US$400,000 for senior engineers.
Wages earned by way of China’s perfectly suited and brightest programmers stand against this to those made by way of other tech team of workers. Data from China’s National Bureau of Statistics showed that throughout 2020, the standard annual salary for “technicians throughout the wisdom transmission, instrument, and knowledge technology provider industries” was once as soon as 199,000 yuan (US$31,258).
China’s tech industry was once as soon as moreover hit arduous by way of an aggressive regulatory crackdown in 2021. This 365 days spotted a slew of government campaigns that ended in billions of bucks of antitrust fines, strengthened regulate of the off-campus coaching sector, and tightened cybersecurity rules that complicate offshore initial public possible choices.
Amid the clampdown and a slowing financial machine, Huge Tech firms akin to ByteDance, rival Kuaishou Technology, and Baidu-owned iQiyi have reportedly kicked off a wave of job cuts that spotted underperforming team of workers or those running in expensive or redundant departments being laid off.
Within the intervening time, China’s 10 richest tech tycoons out of place US$80 billion in blended web value in 2021, in keeping with the Bloomberg Billionaires Index.