Bengaluru has the cheapest average annual salary of $8,600 for a software engineer in the top 20 startup ecosystems in the world, according to the 2017 Global Startup Ecosystem Report released earlier this month.
The highest average annual salary is $1,12,000 for software engineers is the Silicon Valley in California. That’s 13 times as much as the Bengaluru average paycheck. While that doesn’t sound too good - the report says this is one of the primary reasons why startups move to the city: it’s easy to find great tech talent at cheaper rates.
The rankings of the top 20 startup ecosystems have been made on the basis of five parameters - performance, funding, market reach, talent, and startup experience. Of the total, nine are located in North America, six in Europe, and five in Asia.
While Bengaluru continues to be India's leading startup hub, its rank on the Global Index has however dropped from 15 in 2015 to 20 this year. Nonetheless what is still impressive, the report states, is that Bengaluru currently has an estimated 1,800-2,300 active tech startups.
Average annual salary of software engineers in the top 20 global startup ecosystems.
New York: $97 K
Tel Aviv: $63K
Los Angeles: $84K
Bengaluru's tech employees are also among the youngest and the most cost-efficient.
"Bangalore has, on an average, the youngest tech workers among all startup eco-systems... In the Talent Index, Bangalore has challenges with Access and Quality—engineers haven’t been hired very quickly, experience is average and visa success is low—but the bang for the buck is still hard to beat, as Bangalore’s engineers are the most cost-efficient among the global top 20," the report says.
Also read our earlier story: Five charts show how demand for engineering seats is plummeting in South India