Recent news coverage claims the economic downturn has prompted an ‘unprecedented’ fall in wages in real terms.
In direct contrast, 2013 has seen the Data & Analytics sector enter a very buoyant, if candidate driven, market where there has been a marked increase in salaries for many skill sets. So claims the recently launched Salary Survey from Harnham, a leading recruiter within the Data & Analytics marketplace.
The survey, taken by over 1,140 respondents across the UK, has seen a definite trend in more candidates exploring new opportunities. However, this increased interest still does not meet the continued high volume of vacancies right across the skills required. What it does mean for companies recruiting is that speed is of the essence when looking to hire in this particular market.
Some key observations from the survey include:
• Within Marketing and Insight the search is as prevalent as ever for individuals with a combination of strong technical ability, well-developed communication skills and a good level of commercial awareness. The second half of 2012 and so far within 2013 has seen recruitment the busiest it has been for some considerable time. The outcome is that salary ranges are very broad due to continuous demand and ‘bidding war’ type situations are commonplace to secure suitably skilled individuals.
• Likewise, Credit Risk also saw 2012 result in a role heavy market with a scarcity of skilled candidates and a very real shortage of Senior Analysts. The knock on effect has been a significantly marked increase in offers outside the normal salary range for these individuals. The biggest hike in salaries is at the top level of Senior Analyst so scarce are individuals with the right skill set, so packages have even overtaken those offered for management roles.
• One of the largest growth areas in this sector is Big Data where the few people who do have relevant experience in Hadoop, Hive and the like are commanding extremely high salaries and this will continue until such time as Big Data becomes more mainstream.
In summary, the changing nature of how Data & Analytics are applied, as well as the software tools used, is constantly shifting. This ensures the remainder of 2013 and well into 2014 is going to be an interesting time in terms of how salaries within this market develop. To find out more on the latest salary data, market trends and predictions, download the full Harnham Salary Guide 2013 here.