What factors affect the salary of a senior software engineer?

Published on: 16 Oct 2023

Software engineers are IT professionals who focus on developing and maintaining computer systems. This role requires extensive technical proficiencies and a comprehensive understanding of software development and engineering.

The number of software engineering jobs is set to grow by 21 per cent by 2028 - a higher rate than many other areas of work. Individuals with the ability to gain certain security clearances are even more desirable, as they can be trusted to work with organisations’ highly sensitive systems and information.

Due to the demanding and technical nature of software engineering, these professionals are rewarded with higher salaries than many other occupations. Here are some of the key factors that could increase or decrease the salary of a senior software engineer.

 

Location

The salary a senior software engineer receives will be heavily influenced by the location in which they work. In the UK, London jobs pay the most, with a noticeable gap between the capital and other major cities. Data from Indeed reveals the locations where these experts are paid most:

  • London - £80,913
  • Cambridge - £66,346
  • Birmingham - £63,478
  • Edinburgh - £61,618
  • Manchester - £61,482

The stark contrast between compensation in the capital and other cities can be attributed to two main factors. Firstly, London is the UK’s main corporate hub, meaning the world’s largest businesses make it their home.

Secondly, the cost of living in London is notoriously high in comparison to other areas. As such, organisations there are required to pay staff more to ensure they are able to sustain a decent quality of life.

 

Experience and seniority

Just like in any other line of work, the more experienced a senior software engineer is, the better their work is likely to be. Hiring managers and recruiters know this, so candidates with more years of experience are likely to be offered higher salaries than a young talent fresh from university.

Additionally, seniority is important in the tech sphere. So, senior software engineers will already make more money than their junior or mid-level counterparts. This is because they’ve proven themselves to be valuable and adept at the role over several years.

Gaining a higher salary will involve taking on a heavier workload, as well as being responsible for supervising critical projects within your organisation.

 

Industry

The salary a senior software engineer receives can be heavily affected by the industry in which they work. Of course, this changes over time, largely influenced by the overarching business landscape, but some of the sectors offering high-paying salaries include:

  • Retail
  • Healthcare
  • Financial services
  • Business/IT services
  • Government
  • Defence

 

Education

A university degree isn’t a prerequisite for every position under the sun, but it will certainly be a consideration for hiring managers and recruiters. Education can help you achieve a higher salary and isn’t limited to a bachelor’s or master’s degree - there are many courses and certifications you can complete on the job to boost your career prospects.

Browse our latest vacancies to find the perfect security cleared senior software engineer job for the next step in your career.