In new findings published today Let’s go – a global Data & Analytics recruiter, the regional pay gap between London and non-London in the Data & Analytics sector has narrowed to 75% in the past year alone, signaling a huge shift in the industry – and the wider business landscape. – in this remote working age.
In its 11th annual Salary Guide, which surveyed more than 9,000 respondents, Harnham found that some of the market’s data and analytics divisions saw employers pay astronomically high salaries last year to attract and retain talent to and from London-based companies. .
With most employees now working remotely, spending as little as 1.5 days in the office – as shown in this year’s guide – they have the freedom and ability to work for anyone from anywhere in the world. away from the capital. This has forced other regional companies to increase their salaries in hopes of retaining local talent. Indeed, for the first time in four years, the lack of a competitive salary is the main motivation for people to leave a position.
As a result, this year’s Salary Guide found a significant discrepancy between the weightings in London and the rest of the UK. Specifically in areas such as risk analytics and digital analytics, where the gap narrowed by 65% and 73% at baseline respectively.
In some cases we see London salaries being matched or even bettered by companies outside of London. In risk analytics, for example, mid-level experts at Decision Systems can expect to earn the same (£55,000) both in London and beyond. As part of Marketing and Insight, entry-level pricing analyst candidates can expect to earn £4,000 more than their London counterparts.
These salary closures don’t mean that London isn’t increasing its salary benchmarks, because it is, and by a lot. For example, a company and CRM analyst can expect to earn 18.1% more this year compared to last year. However, the key point is that companies outside of London are struggling and matching London when it comes to wages to remain competitive in a tough market.
Commenting on the findings, David Farmer, CEO of Harnham, said:
“The last two years have certainly been turbulent for the recruitment market and things are changing again. As companies begin to strengthen work strategies and procedures, they now face an uphill battle with the impending Great Retrenchment and an insatiable wage war.
“While some Data & Analytics divisions remain more lucrative for those working in London, it is likely that we will see the gap between London and non-London salaries narrow over the coming years as employers struggle with talent, retention and candidate shortages. salary expectations.
“I wouldn’t be surprised if, in next year’s guide, we see the gap close even more and maybe even out. I also think that this is a trend that we will see not only for data and analytics, but for many other sectors as well. This space is definitely worth watching.”