SiSense, a leader in Big Data Analytics and Business Intelligence (BI), recently released findings of a new salary survey providing insights into compensation trends and drivers for data professionals worldwide.
With a shortage of business intelligence (BI) professionals and data scientists looming, companies around the world are wondering how to best equip their teams to win with data. The Data Professional Survey results are based on responses from over 400 professionals spanning the North America, South America, Europe, Africa and Asia collected online in July 2012.
The full survey results are available for download here.
SiSense’s survey finds that salaries for data professionals are on the rise across all geographies. The annual earnings of a data professional can range from an average of $55,000 USD for a data analyst to an average of $132,000 for VP Analytics. As many as 61% of the survey respondents reported higher earnings in 2012 compared to 2011, and only 12% reported lower earnings.
While a vast majority of the respondents (78%) expect even higher earnings in 2013, close to half of the respondents (47%) expressed concern about their job security.
The survey indicates the data profession is male-dominated: 85% of the respondents are men. At the same time, the results demonstrate that gender equality is more common in the data profession than in others. While OECD data shows that on average across all professions men earn 15% more than women, the SiSense survey shows that women in the data profession earn virtually the same or more than their male counterparts.
Other highlights of the survey findings include: Data professionals are highly educated. 85% of the respondents have some college degree, 39% have a Master’s degree, and 5% are Ph.D.’s. Those with doctoral degrees earn on average 65% more than those with Master’s degrees, who in turn earn 16% more than those with Bachelor’s degrees. On the job experience is even more important than education in determining salary levels. On average, professionals with ten or more years of experience earn 80% more than those with 3 years or less.
At the same time, the survey shows that those with 6 years or less make up as much as 59% of the data profession workforce. Bruno Aziza, SiSense VP of Marketing, commented on these findings saying, “The data profession needs a more formal career track. It seems that many professionals exit the field at or around the 6-year mark, moving on to other opportunities. If we don’t formalize data careers more actively, deployment success could continue to remain low and the data industry might evolve slower than others.”
Most Data Professionals work in teams of up to five people. “Companies are starting to realize that Data is key to their success. The majority of them, though are not growing their Data Science teams fast enough to win. This maybe because they don’t want to or because they can’t. This is an alarming trend though and only software can come to the rescue,” noted Aziza.
SiSense Prism is a Big Data Reporting and Analytics Solution that provides the benefits of In-Memory Analytics without its disadvantages. SiSense In-Memory Columnar Datastore analyzes 100 times more data at 10 times the speed of comparable solutions. No need to set up complex data warehouse systems, OLAP cubes. No need for programming either, regardless where data comes from or how big it is.