Average employee pay at Facebook’s UK arm have leapt past £260,000 as one of the world’s biggest tech firms ramps up its presence in London.
Facebook’s UK employee headcount swelled 37% to 5,148 in 2021, filings with Companies House show, while its employee costs jumped to £1.4 billion, an average of £262,317 per employee and a 6% rise on the previous year. The overwhelming majority of Facebook’s employees work in London, with the lion’s share based at the firm’s gleaming new offices in King’s Cross.
It comes as Facebook’s UK arm posted bumper results, with sales up 39% on the previous year. Pre-tax profits jumped 21% to £230 million, despite a 19% drop in taxes paid to £30 million.
Facebook said the discrepancy was a result of a number of factors including a change in the rate of corporation tax and an increase in deferred tax credit due to its share-based employee pay package. The firm said its actual tax bill was higher, as those tax credits would crystallise in future years.