Spain's talent pool and how your business might be missing out

A 28-year-old engineer in Madrid with two master's degrees earns half what their London counterpart makes.

Three years ago, a CFO told me hiring in Spain was a 'compromise on quality'. I hear that less now, and rightly so.

52.6% of Spain's 25-34 year-olds hold tertiary qualifications. That's above the OECD average of 48% and the EU average of 44.1% (Eurostat).

When you open a role in Madrid or Barcelona, the talent pool you're drawing from is statistically more educated than the one you left behind in Frankfurt or Amsterdam.

That 26% salary gap represents thousands of talented people asking whether their ambition has a ceiling in their own country. So many companies still haven't noticed the opportunity sitting right in front of them.

When AWS chose Aragón for its multi-billion euro Spanish infrastructure region, over higher-profile alternatives, it wasn't a lifestyle decision. The Spanish technology sector employs 764,000 people and grows at 5.8% annually. That's more than twice the rate of overall employment growth.

Spain ranks third for European tech talent and has produced 18 unicorns. Amazon, Google, Microsoft and several major financial institutions have significant European operations here.

None of that happened by accident.

For any business building European operations in technology, professional services, finance, or engineering, that differential is the strongest structural case for Spain.

What's stopping more companies from making the move?

++ I'm Rolf, I talk about business compliance, Spanish market entry and accounts in Spain's complex business landscape. Follow me for insights, tips and advice about cross-border accountancy.