The 2017 Robert Walters Global Salary Survey has revealed that salaries for IT security and data analytics professionals are set to grow in 2017 by 8% and 4% respectively.
In light of ongoing high profile data leaks, such as the large scale breach concerning Yahoo in 2016, employers are acutely aware of the high risks of failing to secure internal, customer and client data. As a result, demand for IT security specialists across all levels of seniority and in both permanent and contract positions is high.
“A string of high profile data breaches concerning major firms has brought IT security into the foreground as a top priority for senior managers,” said James Murray, Associate Director at Robert Walters.
Key skills in demand
Senior stakeholders are acutely aware of the impact data breaches can have on a company’s image and their finances and as a result they are willing to offer high salaries to top calibre candidates.
“IT security specialists with strong technical competencies are highly sought after, but those who can also demonstrate strong communications and stakeholder management skills will stand out from the competition,” continued Murray.
Given the need for IT security professionals to provide vital insights and help develop security policies, the ability to communicate with senior managers and collaborate with other departments within the business is extremely valuable.
Specialists to expect increased salaries
Professionals specialising in data analytics and business intelligence can expect to see salary growth of 4% on average in 2017, with junior to mid-level roles seeing the biggest increases.
“As employers recognise the importance of making sure infrastructure is set up correctly to support data scientists, there will be a focus on hiring lead data engineers," said Murray.
"Due to the shortage of candidates with this skill set we expect an increase in salaries and a lucrative contract market for data engineers."
Senior business leaders are increasingly coming to recognise the pivotal role that data science and analytics can have on driving cost efficiencies and allowing businesses to grow in a sustainable way.
Room for opportunity
The central role data scientist roles they play in impacting the efficiency of the business has made securing top talent in these roles a high priority for businesses.
Data analytics is seen as an industry agnostic skillset and as a result data analytics professionals have a wide range of job options. This, combined with an increase in investment in data analytics, has driven permanent salaries and contract rates up. In the first half of 2016 we saw technical roles being moved outside of London with companies looking to cut costs as technical data analytics salaries in London rose.
However, this has not affected data scientist jobs; the central role they play in impacting the efficiency of the business has made securing top talent in these roles a high priority for employers.
"To keep salary costs down, hiring managers are increasingly looking for junior professionals with the potential to grow into more senior roles within the team," James Murray added.
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