What Does It Cost to Hire Developers in Liechtenstein?
Liechtenstein is considered one of the richest countries in the world, that is if you compare its GDP to its low population. According to CIA, the estimated GDP for Liechtenstein in 2014 was five billion dollars.
Of course, if you compare that number to another European country like the UK then it’s not a big deal. Do keep in mind though that it is more of a microstate rather than a country. Its population is only 38,000 people, truly a microstate.
Just in case that you’re wondering. No! The Brexit did not affect the rest of the Europe, which includes Germany and by turn Liechtenstein.
So, considering the size and the economy, would it be a good idea to hire developers in Liechtenstein? Well, let’s find out conducting a more detailed research.
The Average Salary of a Liechtenstein Developer
Developers in Liechtenstein charge much, and the main reason is that IT sphere is not the main industry in the country. According to a research that Average Salary Survey performed, to hire developer in Vaduz (capital of Liechtenstein) you’ll have to give a salary of about $108,000 per year (gross). So, Vaduz developer is not a cheap specialist.
Those who took the survey had a Master’s degree and at least two to four years of experience in software development. There is probably no need to mention that they also were permanent workers.
So, is that all? You just give $108,000 and you have a Vaduz developer in your service? Well, not exactly.
That is only the average salary of a Liechtenstein developer, which means that some developers will charge more or less based on the technologies they are skilled at and the work experience that they already have. Moreover, most small companies will need at least three to five developers in order to be productive. In this case, the cost of Liechtenstein developer is multiplied by 3-5 times.
How Much Does It Cost To Hire a Liechtenstein Dedicated Team?
To be more specific, a Vaduz dedicated team. Although there are different cities where developers work, we decided to use the data on developers salaries based on the capital of Liechtenstein as it is its main city.
As mentioned before, to hire developers in Liechtenstein, you’ll need at least $90,000 to $100,000 per year. In order to form a Liechtenstein dedicated team, you’ll need to pay 3-5 times more than that amount.
That would be about $500,000 and is not a small price to pay indeed. Consider the fact that this is the average salary, there is a good chance that the pay is going to be even greater than that.
It’s perfectly understandable that a great number of experts are not willing to spend that amount of money. So, what now?
The answer is to use outstaffing services as an alternative to your intention to hire developers in Liechtenstein. By hiring remote developers from other countries with lower wages, a great amount of money can be saved.
For example: The average salary of a frontend developer in Ukraine, is only $19,000. So, by hiring a remote developer from Ukraine instead of Liechtenstein, you save almost 10 times more money. If we’re talking about a dedicated team of developers, then this number is only bound to get higher.