Data and Analytics Key Findings from our 2022 Salary Survey

Jake, Consultant on our Data & Analytics team, has taken key findings from this year’s salary and benefits survey to give insight into how the industry Is shaping out to be in 2022...

Gender Gap

We can see that in the last year, the number of men within the data & analytics industry has increased to pre-pandemic levels (64%) whilst the number of women in the industry has decreased to 36%.

Surprisingly, this has changed dramatically from last year where the split was much more equal with 53% male and 47% females within the industry.

Companies are still placing a huge amount of time into diversity and inclusion programmes, so it could be the case that we will see this gap even out within the coming months and years.

Bonus

Bonuses are interestingly something that is not seen very often within the data & analytics industry, with only 47% of professionals receiving a bonus. This is the second year running where the level of data and analytics professionals receiving a bonus has decreased – down from 54% in 2021.

Only 25% of data & analytics professionals receive bonuses once they hit their targets which seems very low in relation to many other industries.

In an extremely candidate short market where 34% of professionals consider it a ‘very important’ factor in their job search, will we see more companies start to incentivize potential candidates to ensure they recruit the top talent within the market?

Satisfaction

We have seen an increase in the satisfaction with salaries from data & analytics professionals – with 14% of professionals being ‘very satisfied’ with their salaries, which is up from 11% last year.

However, 14% of professionals are still ‘dissatisfied’ with their current salary and 9% are ‘very dissatisfied’, showing that companies still have a long way to go before parity is met between employees and companies’ thoughts on salaries within the market.

Why data and analytics professionals left their last role

Unsurprisingly, the data shows that a massive 44% of professionals left their last role due to a lack of progression opportunities – which is up from 43% in 2021 and 21% in 2020!

From speaking to people within the industry, it is clear that a lot of professionals are becoming increasingly frustrated with the lack of progression opportunities within their role – as such, we may see more companies creating a clear progression plan/map to discuss with candidates in interviews to ensure that this will not be a reoccurring problem for them.

A new career challenge is the second most popular reason why professionals have left their role – 36% which is up from 26% in 2021 – is it possible that job rotation may be a route that we see some companies take to try and combat this in the coming year?

Finding a new role

There are many ways for data & analytics professionals to find a new role but the most popular by far is through a recruiter or headhunter (35%). This is compared to the second most popular way which is through LinkedIn where 18% of professionals found their last role.

With the rise of competitiveness in the market, could it be the case that more companies make use of recruitment consultants to tap into their existing network and help speed up recruitment processes for companies in the next year?

If you would like to see our full salary survey report, with more in-depth stats about several industries, download the survey here!

Additionally, if you would like to explore any new opportunities within the data & analytics industry – please get in touch at jakeh@spherelondon.co.uk