Earlier quoted context omitted.
As someone who's recruited heavily at the entry level, you're mistaken. Even substantial number of computer science graduates lack the capability of basic coding (i.e. "here's the detailed specification of this function; go implement it"). There is substantially more demand than available talent. SF, New York, London, Amsterdam, Berlin, etc. all have huge talent shortages. Even developer markets that were relatively…
For London I strongly disagree. When start-ups, profitable ones, are offering £35k + bonus + stock options (worth £0), for senior developers, in Central London, there's not a talent shortage. Similarly skilled developers are getting £35k+ & bonus outside of London, where the cost of commuting/living is significantly cheaper, in established companies with full benefits packages, that don't expect them to work 50 hour…
As someone working in finance in London, this seems way too low. I'm on 97K and bonus has been 50% for the last 4 years. Contracted before and made more after tax.
I can't believe that startups hope to attract talent with 35K + bonus? But I also doubt you're right about 45K jobs in finance being anything but entry level.
http://www.itjobswatch.co.uk/jobs/london/c++%20developer.do
(me? c++, perl, python, unix, front office, could price an option with Hull open, or an IRS, but not going to try anything like a Vol swap without Quant Assistance. There, another vague datapoint).