Salaries Soar For Data Clever Employees Finds New Australian Report

Salaries Soar For Data Clever Employees Finds New Australian Report
SHARE
THIS



Australia’s data scientists are trousering it like never before. But while businesses are paying huge data science salaries, by their own admission many are not taking advantage of the investment.

That’s the main take out from this year’s IAPA Skills and Salary Survey 2015 results released this morning.

Almost half of the analytics professionals told the researchers that  ‘executive level understanding of data and analytics’ remains a key barrier to converting insight into action, and the authors cite this a potential problem area for companies who wish to adapt, evolve and innovate presents itself.

While the medium salary is eye watering, even the average number cruncher is due for a good Christmas with average salaries growing to $130k per annum, up strongly on last year.

The study suggests that about 30 per cent of respondents work for ‘Supply’ (i.e. professional services, hardware providers, software or other supply-side organisations) with the remainder working in ‘Industry’ (i.e. banks, telecommunications or government etc.). These proportions are consistent with results from both 2013 and 2014.

“The median salary for analytics professionals continued an upward trajectory since 2013, rising 4 per cent year-on-year from $125K in 2014 to $130K in 2015 despite ongoing entry of low-experience and junior employees to the industry. This entry-level cohort, with less than two years analytics experience, accounts for almost 60 per cent of all respondents.”

Data science salaries continue to surge

“Over a three-year horizon, this represents an 18 per cent increase in the survey’s median salary despite the proportion of less-senior respondents (analyst, senior analyst, or team lead) having increased by 14 per cent. Overall, this strongly points to ongoing labour market pressure with the Australian Bureau of Statistics reporting an average industry wage growth rate of 2.3 per cent.”

According to the authors, “Big Data Analytics (55 per cent), closely followed by Business Leadership and Management skills (48 percent) are the skills cited by analytics professionals required to be successful in the next 12 months.”

They say this aligns to two of the key findings of the survey.

“Firstly, Australian businesses are finally adopting cloud and big data and are paying handsomely for those with skills and secondly, despite 40 per cent of respondents believing analytics either enables or is a critical part of their business’s differentiation, 37 per cent felt their company was either ‘not really’ or ‘not at all’ getting the benefit from their full range of skills. “

Among the key findings of the study;

  • 40 percent of respondents believe analytics either enables or is a critical part of their businesses differentiation but a significant 37 percent felt their company was either not really’ or ‘not at all’ getting the benefit from their full range of skills.
  • “Executive level understanding of data and analytics’ was cited as analytic professionals’ biggest challenge in converting insight into action (47 per cent).
  • Median salary for all respondents is $130K, up 4 per cent year on year (from $125K in 2014).
  • Median salary of respondents is 175 per cent of the median full time Australian salary ($70,720 May 2014 ABS stats), with 90 per cent of respondents earning more than the median Australian salary.
  • Median salary for respondents with big data and cloud analytics skills is $200K, 50 per cent more than the median respondent’s salary.
  • Australian businesses are finally adopting cloud and big data with respondents reporting to use Hadloop-related technologies increasing by 300 per cent year on year.
  • Open source adoption is slowly becoming mainstream, with the number of analysts having used tools such as R and Python increasing between 50 percent to 100 percent year on year.
  • Approachable analytics are in demand with presentation and communication skills continuing to be the most frequently applied soft skills within analytics.

According to Jodie Sangster, ADMA CEO, “As digital transformation continues to propel actionable data insight to the fore of strategic business decision making, two things will need to happen. “

“Analysts at all stages in their career will need to broaden their skill set to better equip themselves to contribute to whole of business activity, whilst the C-Suite needs to better understand how actionable insights can deliver a better customer experience to drive competitive advantage,” she said.

Disruptive influence

The study also focused on how analytics contributes to competitive differentiation at a time of significant disruption.

According to the study, “It was left to respondents to interpret ‘disruption’ in their context but common interpretations include shifting business models, reshaped markets, and the emergence of non-traditional competitors. Disruption is seen as a common trend, with 54 per cent of respondents saying that they felt their industry was either being “quite” or “substantially” impacted by disruption from competitors, suppliers, or their customers’ expectations.”

Analytics is seen as a common response to disruption, say the authors.

“Eighty one percent (81 per cent) of respondents felt that their organisation was effectively and actively using analytics to either contribute, enable, or as a critical part of their organisation’s ability to enable innovation and drive differentiation. A full 25 per cent felt that analytics was in fact a critical part of their organisation’s ability to enable innovation and drive differentiation.

“However, a staggering 37 per cent of respondents felt that that their organisations were either “not really” or “not at all” getting the most value out of the full breadth of the skills they could offer. This represents a very real problem, both in terms of international competitiveness as well as national productivity.”

This article originally appeared on B&T’s sister site www.which-50.com

Latest News

Image lead story Hulsbosch Designs Brand Campaign For New Aussie Challenger Bank 86 400
  • Campaigns
  • Marketing

Hulsbosch Designs Brand Campaign For New Aussie Challenger Bank 86 400

Australia’s newest challenger bank, 86 400, has revealed its new brand campaign created by Hulsbosch. The brand positioning aims to establish 86 400 as a new type of financial institution – one that will eventually deliver the full capabilities of a bank entirely in a mobile phone. Free of the existing structures of traditional banks, […]

Superdream Recruits New Digital Marketing Manager
  • Marketing

Superdream Recruits New Digital Marketing Manager

Full-service marketing agency Superdream has announced the appointment of Lachlan Kirkwood as its digital marketing manager based in its Brisbane office. Reporting to Australian director Kirsty Visman, Kirkwood will oversee the digital accounts of Superdream’s clients in the Australasia region, and will be responsible for driving digital performance and developing strategies to enhance conversions. Kirkwood […]

Masculinity Roasted In Clever New Ad
  • Advertising
  • Campaigns

Masculinity Roasted In Clever New Ad

Think masculinity means drinking a case without chundering? Well, rediscover it (& possibly yourself) with this top ad.

by B&T Magazine

B&T Magazine
WPP AUNZ Partners With Career Trackers Indigenous Internship Program
  • Advertising

WPP AUNZ Partners With Career Trackers Indigenous Internship Program

Advertising and marketing network WPP AUNZ has joined the Career Trackers Indigenous Internship Program as part of its commitment to a diverse workforce, and the creation of opportunities that inspire excellence. As part of the program, WPP AUNZ has welcomed its first three interns: Abi-Leigh Dillon (WPP AUNZ), Amy Mccutcheon (MediaCom) and Jacinta Evans (Ogilvy), […]

Denomination Creates Fresh Look For Underground Spirits
  • Marketing

Denomination Creates Fresh Look For Underground Spirits

Underground Spirits’ range of gin and vodka has been given a new look by drinks design agency Denomination that draws on its Canberra roots and emphasises the science behind the uniquely smooth spirits. Underground Spirits founder and master distiller Dr Toby Angstmann patented a new method of filtering at sub-zero temperatures – a process that […]

Taboo Goes On A Hiring Spree
  • Advertising

Taboo Goes On A Hiring Spree

Taboo has gone a hiring spree. And when it comes to sprees that's far better than a shooting one or a farting one.

Canvas Group Unveils New Brand Identity For Orange Region Tourism
  • Marketing

Canvas Group Unveils New Brand Identity For Orange Region Tourism

Inspired by the region’s diversity of attractions, seasonal colours and all-year-round appeal, Orange360 is the new brand identity for Orange Region Tourism by creative agency Canvas Group. Orange Region Tourism was established in 2017 with a key strategic objective of building one identity and one unified message in order to rectify confusion in the market […]

M&C Saatchi Group’s 1440 Shuts Up Shop
  • Marketing

M&C Saatchi Group’s 1440 Shuts Up Shop

Sadly, M&C Saatchi's 1440 is no more. And chances of it being reborn as 1550 not looking much chop either.

by B&T Magazine

B&T Magazine
Luke Kelly Becomes A Partner At HBT
  • Advertising
  • Marketing
  • Technology

Luke Kelly Becomes A Partner At HBT

B&T's not sure what's with that twirly thing in the press photo, suffice to say a vortex to an alternate dimension?

Women In Media Profile: Alison Michalk
  • Media

Women In Media Profile: Alison Michalk

If B&T's Women in Media profiles were an animal they would be a gazelle or lioness, or even a lioness eating a gazelle.

by B&T Magazine

B&T Magazine
Grant Broadcasters Makes Several Changes To Senior Executive Team
  • Media

Grant Broadcasters Makes Several Changes To Senior Executive Team

Independent media company Grant Broadcasters has announced a number of changes to its executive ranks. Grant Cameron will move up to become non-executive chairman for the company, and Alison Cameron (pictured above) – currently the chief operating officer – will assume the CEO role. Dugald Cameron remains responsible for the family’s investment portfolio and is […]

Shopper Media Group Partners With Mist To Offer New Tech & AI-Driven Capabilities
  • Advertising
  • Media

Shopper Media Group Partners With Mist To Offer New Tech & AI-Driven Capabilities

Australian retail out-of-home (OOH) business Shopper Media Group (SMG) has announced a partnership with AI-powered wireless networks provider Mist. The partnership will see SMG offer new WiFi, analytics and location-based services across the company’s portfolio of Australian shopping centres. Mist currently provides WiFi and location services using virtual Bluetooth LE technology to businesses across all […]

Indy Agency This Is Flow Wins Cruiseco’s $5 Million Media Account
  • Advertising
  • Media

Indy Agency This Is Flow Wins Cruiseco’s $5 Million Media Account

Travel organisation Cruiseco has announced the appointment of Sydney independent agency This is Flow (TIF) to handle its $5 million media account. This is the first time Cruiseco has appointed an agency, having managed its communications internally. Cruiseco is the largest and broadest distributor of cruise products in the Southern Hemisphere. With a membership base […]

Women In Media Profile: Naomi Shepherd
  • Media

Women In Media Profile: Naomi Shepherd

Need a Monday morning pick-me-up? You could stand naked next to the office fridge or read these inspiring words.

by B&T Magazine

B&T Magazine
APN Outdoor Takes Off With Queenstown Airport Contract
  • Advertising
  • Media

APN Outdoor Takes Off With Queenstown Airport Contract

Out-of-home media business APN Outdoor has won the tender for New Zealand’s Queenstown Airport. As part of the new agreement, APN Outdoor has flagged extensive development plans for Queenstown Airport’s advertising assets. The new contract adds Queenstown Airport to APN Outdoor’s existing portfolio of Auckland and Christchurch Airports. The media company will hire a South […]

Havas Secures Exclusive ‘Fight Of Champions’ Broadcast Rights With Foxtel For Australia & NZ
  • Media

Havas Secures Exclusive ‘Fight Of Champions’ Broadcast Rights With Foxtel For Australia & NZ

Havas Sports & Entertainment ANZ, a division of the broader global full-service agency Havas, has confirmed an exclusive deal with Foxtel to showcase the World Boxing Association (WBA) Welterweight Championship across the trans-Tasman. Billed as the ‘Fight of Champions’, Manny Pacquiao and Lucas Matthysse will square off for the WBA Welterweight belt this Sunday. Havas […]

The Question On Everybody’s Lips At Cannes: How Did Tesco Win The Grand Prix Media Lion?
  • Media
  • Opinion

The Question On Everybody’s Lips At Cannes: How Did Tesco Win The Grand Prix Media Lion?

In this guest post, PHD’s Chloe Hooper (pictured below) analyses the campaign that claimed top honours in the Media category at Cannes this year. I sat in the auditorium as the Cannes Media Lion winners for 2018 were awarded. One thing became instantly clear to me: it is all about taking home Gold or the Grand Prix. […]

Opinion

by B&T Magazine

B&T Magazine
MINI Australia Showcases New ‘Connected’ Vehicles Via Vizeum & Posterscope
  • Advertising
  • Campaigns

MINI Australia Showcases New ‘Connected’ Vehicles Via Vizeum & Posterscope

An integrated campaign by Vizeum Melbourne for MINI Australia’s new ‘Connected’ vehicles will see digital out-of-home (DOOH) served via Posterscope’s Liveposter platform. Delivered centrally, the campaign will showcase the flexible qualities DOOH provides via multiple creatives targeted with specific data overlays such as location, traffic, time of day, and weather triggers such as rain. The […]

Women In Media Profile: Lisa Sheehan
  • Media

Women In Media Profile: Lisa Sheehan

The delightful Lisa Sheehan straps into B&T's "cage of truth" we actually prefer to call our Women in Media profiles.

by B&T Magazine

B&T Magazine
News Corp, Storyful & Fox Sports Join Forces To Support AIME Hoodie Day
  • Advertising
  • Campaigns
  • Marketing
  • Media

News Corp, Storyful & Fox Sports Join Forces To Support AIME Hoodie Day

News Corp Australia, Storyful and Fox Sports have joined forces in support of 2018 AIME Hoodie Day with a creative advertising, PR, social media and editorial campaign across print, digital, and broadcast media. Fox League presenter Hannah Hollis (pictured above) fronts the AIME Hoodie Day campaign, conceptualised, designed and created by News Corp’s trade marketing […]