How to Hire Financial Software Developers in Ukraine: Complete Guide

The IT industry of Ukrainian now represents 8.3% of the country's exports. The IT market with its continuously increasing growth rate has become one of the main drivers of the country’s economic growth. Without further ado, delve into the article to learn why you should consider hiring Ukraine IT professionals for your app development and other services, what are main software developments cities in the country are, and more.

Table of Contents

Despite the economic doldrums because of the war in Ukraine, the country’s tech sector is promising and continues to thrive uninterruptedly. A great increase in the tech market growth has been witnessed in recent years in Ukraine. According to the reports revealed by the National bank of Ukraine, the IT industry in Ukraine has been on a rise with a track record of $3.74 billion in 2022. It indicates that export revenues increases by 23% in 2022. Such facts and figures reflect that Ukraine’s IT sector has a promising future. National and international businesses hire app developers as well as outsource other IT-related tasks to Ukraine professionals.

Ukraine IT Outsourcing Industry

Ukraine is a country situated in Eastern Europe with a promising economy. It has over 250,000 software application designers and developers. Each year 25,000 additional students graduate from computer colleges with remarkable grades. Ukraine IT professionals are undoubtedly all and well capable of handling simple to complex IT-related and other crucial projects.

Ukraine Cities – Major Software Development

Ukraine produces exceptional outcomes in regard to outsourcing software design development and IT. Local IT experts frequently place top in rankings and win coding or software development-related contests worldwide. This demonstrates the extraordinary skill and breadth of expertise of Ukrainian programming specialists.

Below is the list of Ukrainian cities that are recognized for their software development.

1. Lviv

With some 500 IT companies serving clients worldwide, including those in the UK, the US, and Western Europe, Lviv is a significant IT hub in Ukraine. It boasts an IT sector with a sustained growth rate of over 50% and about 27,000 IT workers. Lviv IT Arena is the largest IT exhibition in Eastern Europe and is also held in this city making the city get a valuable attraction among IT personnel.

2. Kyiv

Kyiv is one of the ideal choices if you’re trying to hire reliable software Ukrainian engineers for different purposes. Kyiv, the capital of Ukraine, is the center of the 40 most technologically sophisticated corporate ecosystems. It is noted for having renowned IT colleges, a large number of professional software development communities, a wide variety of co-working spaces, and R&D facilities for major international tech companies.

3. Kharkiv

Commonly known as the first unicorn in Ukraine, Kharkiv is the second-largest city in the country. It is home to nearly four hundred and fifty IT businesses and over twenty-five thousand IT professionals and software developers. Over three thousand IT graduates graduate from Kharkiv each year, and the city’s IT cluster is expanding rapidly. Businesses looking to hire such professionals should consider this city.

4. Dnipro

Dnipro is Ukraine’s fourth-largest IT hub in terms of the number of IT specialists. The city is home to several multinational corporations, including CandyGrill, Healthjoy, Playtika, WIX, and Techery.  About eight percent of all Ukrainian IT resources are located in Dnipro, which has a workforce of around fourteen thousand IT experts, making it the talent hub.

5. Odesa

Odesa is one of the hubs for Ukrainian companies with the fastest growth. Nearly two hundred IT companies operate across a number of industries, including cloud computing, automotive, software development, augmented reality solutions, and much more. The city is a fantastic location for business owners wishing to acquire tech expertise to expand their business operations.


Do you have any questions for us?

Don’t hesitare to contact us

It Is Safe to Work With Ukraine During the Crisis

Ukrainian programmers are willing to put in a lot of effort while being swamped. Throughout the struggle, the bravery and tenacity of the Ukrainian people were fully on display.

According to the Displacement Tracking Matrix, almost 50% of people in Ukraine relocated to new cities. Software experts are among more than 2.5 million individuals who have relocated to places like Rivne, Chernigiv, Lviv, Uzhgorod, and others.

In accordance with these facts and data, qualified individuals who are committed to developing IT and financial applications are in secure environments. This makes it possible for them to function and offer their professional services without any hindrances. According to reports, the Ukrainian IT sector is active and flexible enough to cope with unforeseen events.

Furthermore, the Ukrainian system works nonstop to ensure that people, specifically professionals, have access to robust internet connections and other necessities for doing their jobs. Over 90% of Ukrainian software developers reportedly work full-time, just as they did prior to the war. This shows that despite the conflict and political unrest in the country, Ukrainians continue to be the top choice for outsourcing financial software and mob application development services.

Read more: How to Find a Reliable IT Outstaffing Partner in Ukraine?

Steps to Hire Top Ukrainian Developers

Even though selecting the right team is one of the most important responsibilities when outsourcing software development, it may be difficult. You may find a massive number of IT service providers and software developers in Ukrainian making it complex for you to choose the best one. You may feel overwhelmed by the number of service providers and get simply confused.

Finding qualified and responsible freelance developers from Ukraine is another challenge because of their comparable market popularity. Especially when developers are in already contact with potential clients; you may have to pay more than usual rates.

Utilizing the services of an outsourcing company is considerably easier and more dependable for a number of reasons. They already have a pool of candidates who have been screened and interviewed. Also, they offer multiple packages based on individual requirements. You may choose the packages that best suit your unique business needs and budget.

Following these steps, you can hire the best software developers in Ukraine:

1. Choose the Service Category

Selecting the service category that best meets your needs is the first step in hiring Ukrainian developers for your project. In general, you can choose among the following options:

You may also need to consider a few more criteria, such as management requirements, project requirements, and corporate preferences.

2. List Your Vendors

After deciding on a service category, begin looking for reliable sources for client testimonials of different IT outsourcing companies. Additionally, research the companies that your coworkers recommend, and create a shortlist of 5–10 vendors you think would be most effective for you.

3. Evaluate Skills

Once you’ve narrowed down your list of potential vendors, it’s important to assess each one’s knowledge and background. You may examine service providers’ skills, services offered, operational methods, and more by visiting their websites. This can assist you in finding the top Ukrainian financial software developers.

4. Create a List of Queries

It’s time to compose a proposal and send it to the IT service organizations you’ve chosen to shortlist. You might inquire about their fees and how they manage personal information in your email.

Additionally, you may inquire about recommendations or specifics of a few of the achievements in their portfolio. Before sharing any information about your project, you might also ask a vendor to sign an NDA. Include any significant query that could have an effect on your business or your project.

5. Explain Your Business’s Requirements

Once you obtain their responses, it is time to make calls and chat with the suppliers that made the shortlist. You can discuss certain project aspects, explain your values, and make sure that they offer the same value your business has. In addition, ensure sharing all the unique requirements of your project or business with them.

6. Request Early Estimates

One of the most important factors that must be in your mind is to ask about project costs. Make sure to ask the software application services or financial software developers in Ukraine about their charges. You may ask them if you want to give them some rough estimates or to include a pricing range before going too far. Make sure to remain straightforward before heading into the agreement.

7. Select a Model

Successful collaboration requires several different factors, including sharing a common vision for the project, talking about its details, and deciding on its parameters. However, there are other factors as well including deciding the engagement model. This will enable you to determine various things including dedicated team, fixed price, or T&M. These are crucial as these factors might impact the overall price of your project as well.

8. Choose the Best IT Software Developers

Pay close attention to what you have learned so far while selecting an IT software developer. While you consider information such as the tech stack, projections, and engagement models, ensure evaluating how a firm communicates.

Whether you want to outsource software design or recruit Ukrainian experts, the way a service provider interacts makes a significant impact on the overall project. Sometimes a vendor could seem to be the greatest choice, but they might overlook your concerns or preferences or wait a few days to respond. If you want to finish your job on time, it would be better to pick a different service provider in this case so they can respond on time and take your queries seriously.

9. Take legal issues into consideration

Every single trustworthy Ukrainian software development firm does business legally. As a result, following the selection of a vendor, you must decide on a contract and a payment schedule in line with the engagement strategy you’ve chosen. Ensure that the agreement is written down and you keep a copy of it in a secure place. This will help you do business with Ukrainians legally.

10. Interact with Your Team

Once everything is set up, it’s time to familiarize yourself with your team. Talk about your objectives, the process, the meeting schedule, the objectives, and other key aspects. Don’t forget to present your internal team to the group of IT or software developers you have recruited for your projects. You will complete your project more successfully if your internal team and the contracted staff work well together and communicate.


Do you have any questions for us?

Don’t hesitare to contact us

Leading Factors for Employing Ukrainian Software Developers

It’s always fascinating to start a new project and see it grow from a few lines of code to the first functioning prototype and then to the completed product. Create the ideal program by keeping an eye on the project’s development, taking your team’s suggestions into account, and making decisions that will result in the best possible results.

The following are some justifications for hiring Ukrainian software developers:

1. Ideal Time Zone

Ukraine lies in the Eastern European time zone, which is just seven hours earlier than the East Coast and one to two hours earlier than the majority of Europe. Since the time difference is either insignificant or tolerable when required, companies with offices in Western Europe and the United States may readily collaborate with Ukrainian employees. Furthermore, it would be possible for both partners to schedule their time appropriately and to work continuously.

2. Developer Salaries in Ukrainian

Ukrainians are a good choice for employment and collaboration because of their affordable services. Hiring software finance developers in Ukraine is a less expensive option than hiring Western Europeans or Americans for the exact role. Working with them is simple if you outsource your job or employ a specialist software development team model.

Average hourly wages for Ukrainian programmers range from $25 to $80, which sounds reasonable. Additionally, they will never skimp on professionalism or the caliber of their job. You may be confident that you will receive excellent work in a timely manner at fair prices.

3. Outstanding Quality

You will always hear that Ukrainian software developers offer “excellent quality work” when you ask about them. They have gained international recognition for their exceptional and competent work. Ukrainians rank at the top among the world’s top software developers.

For instance, when it comes to offering the greatest software and application development services, HackerRank ranks Ukraine higher than the US and UK. This shows that they would be the finest choice for contracting out your important IT projects.

4. Considerable Talent Pool

Up to 200,000, IT professionals are currently employed in Ukraine, and that figure is increasing quickly. The Ukrainian IT market’s capacity is increased each year by the entry of over 20,000 fresh tech graduates. That is not only in terms of getting education and degrees, but Ukrainians are keen to get appropriate certification and training as well.

Short courses and effective training help them to further polish their skill set and get better opportunities in the market. With their knowledge, qualification, and training, they make the best match to outsource your IT projects.

5. Good Command of English

Ukrainian IT professionals speak English effectively and possess good technical abilities; the majority of developers have intermediate or above competence. On the EF English Proficiency Index, Ukraine is ranked 44th out of 100 countries and regions for having good English-speaking abilities.

The reason is that in Ukraine and other English-speaking nations and educational institutions, knowing English is seen as a pathway to improved possibilities. The majority of these young people are now active participants in the greater social media community, which uses a lot of English. This makes them proficient in English and utilizes it to get better opportunities in various sectors including IT and more.

6. Legal Aspects and Taxation System

Most businesses hire developers who are licensed as private entrepreneurs, commonly referred to as independent contractors in the US, and collaborate with them pursuant to the service provision agreement in order to comply with the legislation while outsourcing or offshore IT services to Ukraine. Employing legal and regulatory services in Ukraine helps businesses ensure that their projects will remain successful.

In addition to that, software developers in Ukraine who operate under the private-enterprise model profit from tax breaks put in place by the Ukrainian government. They fall under group 3’s simplified taxation system and are only required to pay 5% in income tax once a month and 22% of the minimum monthly wage in Ukraine in social security tax once every three months. Hence, by outsourcing tech-related and other tasks to Ukrainian developers, you are sure to cut costs and save thousands of dollars.

7. Strong Tech Community

The Ukrainian fintech sector is attempting to improve the country’s infrastructure and regulations despite the war’s obstacles so that it can draw reputable businesses and institutional investors from all backgrounds. The Ukrainian IT sector has proven its resilience even in times when the country is still trying to recover from the war.

Ukraine’s government is continuously trying to provide its citizens with a stable work environment. The government’s support and the industry’s robust development together provide a clear message that the IT sector is ready for investment.

Furthermore, global tech, finance, and other organizations in various sectors have also been showing interest and supporting Ukraine’s economy. The Agile Eastern Europe Conference, DEV Challenge, and Lviv IT Arena, three of the biggest IT events in Europe, all take place in Ukraine. Additionally, there are several IT groups and clusters that regularly host conferences and meet-ups. It helps the sector build a strong IT community within the country.

8. Variety of Programming Languages

Among several reasons, this is another that no one can deny! Ukrainian developers are skilled in a variety of cutting-edge technologies, including AI, VR/AR, and IoT, as well as Ruby, Node.js, JavaScript, Python, PHP, and more. Ukrainians are known for their proficiency in programming languages. They are all well capable of catering to your unique business requirements.

Whether you want them to work on JavaScript, Ruby, Python, or any other language, they can make the best fit for you. Whatever you’re searching for, the Ukrainian IT industry is certain to have it.

9. Protecting Intellectual Property Rights

In order to preserve the secrecy of the sensitive information you give throughout the development of your project, collaboration with Ukrainian businesses frequently begins with the signing of an NDA. Later on, your project could have to adhere to international security standards like HIPAA, ISO, or PCI. This won’t be an issue for practically any reliable Ukrainian software development business.

All the registered and licensed software organizations in Ukraine comply with corporate and commercial regulations when conducting business activities. Working with Ukrainian developers, you are sure to have the security and privacy of your crucial data.

10. Compatibility across Cultures and Work Ethics

Most Ukrainian developers share Western values and culture that make them thoughtful individuals. They are talkative, open-minded, hardworking, and communicative in general. Their love for tech revolution, advancement, and technology plays a major role in their decision to pursue a career in the IT industry.

Ukrainians are highly friendly; however, when it comes to working with their clients they are highly professional and ensure maintaining a balance. They are easy to communicate with and take criticism attentively which makes them the best fit for IT-related projects.

When it comes to hiring tech talent, every business wants to do it in the best way possible. However, you may feel overwhelmed due to a lack of proper information and adequate knowledge. We have got your back!


Then what is the wait for? Leave a short message to us or contact us now! We will respond to you promptly.