Blimey! Could London Top San Francisco for Tech Talent?

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By Arjun Kharpal, CNBC

A new report is trying to pour cold water on the idea that Silicon Valley is the place to find the best and most technology talent. Step forward … London.

According to analysis from Stack Overflow, an online developers' forum, and the U.K. capital's promotional company, London & Partners, the city is home to more tech talent than New York, San Francisco and any European city.

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But the report has a caveat: London may have more developers than the combined areas of San Francisco City and the Valley but if the area studied is expanded to include the wider San Francisco Bay Area, then the total number of developers rises to 83,262, over 11,000 more than London.

Also, London tech workers are paid less than their San Francisco counterparts. In Britain's capital, the average salary for an IT professional is $87,622 but in San Francisco, this rises to $123,054.

London houses more than 71,000 professional developers with the nearest European competitor city being Paris with 40,538 IT programmers.

"London is a hotbed for tech talent. With Europe's fastest-growing tech hub and some of the world's leading universities, London based businesses can benefit from access to an unparalleled talent pool," Mayor of London Boris Johnson, said in a press release accompanying the report.

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