Rising salaries in IT and data analytics, survey finds
15th February 2017 11:42 - Information Technology
Rising salaries in IT and data analytics, survey finds: According to the latest Robert Walters Global Salary Survey for 2017, salaries for the IT security and data analytics sector are expected to see an increase of 8 per cent and 4 per cent, respectively, this year.
The market research findings revealed that employees who are specialists in business intelligence and data analytics should expect to see an average of 4 per cent salary increases.
The increase in salaries reflects the increasing demand for IT security professionals, which has rocketed in the wake of continuous data leaks, for example the large security breach which Yahoo experienced in 2016. The Yahoo breach took two years to identify and consequently resulted in more than 500 million users having their account information stolen.
Supporting the Robert Walters Global Salary Survey, a separate survey by Indeed, the job website, revealed that the number of advertised cyber security vacancies in the United Kingdom were the third highest in the world.
As a result of the ever-growing demand for IT security specialists, employers could potentially use the increasing salaries to attract staff and move away from the difficulties in finding skilled employees.
Last year research found that the average starting salaries for professional jobs increased by 3.68 per cent in the three years from 2013 to 2016. This year, there is expected to be an additional 2.1 per cent growth in the technology, finance and other roles.
The survey also revealed that hiring managers are continuing to recruit junior professionals who have the potential to be developed into more senior roles. This helps to keep the salary costs low.
A separate survey by the Centre for Economics and Business Research revealed that the Internet of Things and data analytics sectors are expected to create 182,000 new job vacancies by 2020. Further to this, the data analytics sector is expected to add £241 billion to the economy in the United Kingdom by 2020.
Sign up for free insights from your sector…
We hope that you have found this article useful. This section is freely available for all to use. Please help support it by liking us or following us on our social media platforms:
For updated Information Technology insights please follow us on @DJS_IT or use our RSS feed