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

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 (@thealepalombo) 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