Europe’s economic decline stems from stagnation, debt crises, and competition. Tech talent exodus grows due to massive salary disparity with Silicon Valley.

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Simply, the whole topic could be summed up with this cartoon.

Sadly the keyword and mindset in Europe is:

“NO. IT’S IMPOSSIBLE.”

But these matters are always nuanced so first, let's understand the full picture… pic.twitter.com/y2glFsZfCK

— Alessandro Palombo (@0x_ale) December 5, 2024

First, the salary gap is staggering.

Senior software engineer compensation:

• Silicon Valley: $210,000-$320,000+
• London: $95,000-$140,000
• Berlin: $70,000-$110,000
• Paris: $65,000-$100,000

That's not a gap. It's a canyon.

But here's what's really driving the exodus: pic.twitter.com/PKIJxx7czM

— Ole Lehmann (@itsolelehmann) December 6, 2024

The data confirms:

According to OECD research, 3.4% of EU-born graduates with advanced degrees move to the US – a number that's growing.

LinkedIn research shows a 15% increase in tech worker migration from EU to US since 2019.

But it's not just about Silicon Valley anymore… pic.twitter.com/ZxU6HZaGRk

— Ole Lehmann (@itsolelehmann) December 6, 2024