How are the latest trends increasing demand for Data Scientists?
February 9th, 2023
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Spotlight on… Salary Trends
As demand for certain roles increases, KDR Recruitment invariably see the average salary for that type of role go up accordingly. But which information management jobs are seeing the biggest increases in average salary at the moment? Will you need to rethink your recruitment budget based on the skills your business needs? Read on to find out what you might need to pay to attract the talent you want.
Big data. Getting bigger
As we’ve written about before, big data remains a huge story, both for those working in information management and for businesses in general, as more enterprises come to terms with the need to embrace and harness the power of information. Big data jobs can include those requiring:
- the technical complexities of mining unstructured data
- the techniques to manage the growth, variability and velocity of that data, and
- the analytical ability to apply that data in a way that grows a business.
This will explain why IM Project Managers are attracting an average of £4k a year more in 2013 as their rare skills in managing specialist information management projects as opposed to more general IT projects are more increasingly sought.
The growing need for security
Another major story is security. Clearly, concerns about protecting the privacy of data and information are very much at the forefront of the news agenda these days. Security is not just an IT problem, but also an increasing concern for businesses and customers everywhere. And it’s often cited as the primary barrier in adopting new technologies.
If your customers don’t feel their data or personal information is safe with you, they are less likely to use cloud computing, download your apps, engage with you on social media or perhaps even give you their business at all. It’s not surprising then, that average salaries in Data Governance (+10% since last year) and Data Quality (now averaging £58k p.a.) are on the up.
Bridging IT with the rest of the business
As job descriptions arrive at KDR Recruitment, we’re noticing much more demand for business facing roles within the IT department. Information Management Consultants and Business Analysts are attracting higher salaries because businesses are looking for people with a rare blend of skills. A strong technical knowledge of data and information management is no longer enough at the senior level. Businesses are increasingly waking up to the fact that data is not just a cost base requiring maintenance, but an asset that can drive business growth. The key is finding people who have a holistic view of commercial objectives, often with a background of working in different disciplines, not just IT, who can translate IT outputs into the language of the boardroom
Is it all about the money?
A final trend worth commenting on is that some large employers are refusing to automatically give in to the salary demands of the market, recognising instead that job satisfaction and working conditions matter a lot more in the decision to take a job.
One KDR client is building a best-in-class Information Management hub and the excitement of the opportunity married with the lack of a big city commute is allowing them to keep their salary budget down. Candidates are accepting job offers with this client because they want to be part of the journey, gaining invaluable experience along the way and are placing a price on the improved quality of life they’ll have without a long journey into London every day. Food for thought for those who still think they just need to offer the highest salary to attract the best talent.
Salary trends are worth watching, and not just to give us an indication of where business is heading and what the latest, hottest fields are. If you’re a hiring manager, you also want to attract and retain the best talent – and paying a competitive salary is an important part of that equation. In addition to talking to your account manager at KDR, we recommend you monitor www.itjobswatch.co.uk to see where job demand and salaries are heading, so you can stay ahead of the field.
If you found this article useful, you may also like to read our review of the perks that are attracting candidates beyond salary.
KDR Recruitment is the home of the best data, technology and analytics jobs. For more hiring advice follow KDR on LinkedIn.
