59% of all Data Science and Analytics (DSA) job demand is in Finance and Insurance, Professional Services, and IT.
Annual demand for the fast-growing new roles of data scientist, data developers, and data engineers will spike by 2020.
Data Science and Analytics (DSA) jobs remain open an average of 45 days, five days longer than the market average.
Key takeaways from the study include the following:
59% of all Data Science and Analytics (DSA) job demand is in Finance and Insurance, Professional Services, and IT. DSA jobs factor most prominently in the Finance and Insurance industry, where they account for 19% of all openings. The Professional Services and IT industries follow with 18% and 17% relative demand for DSA jobs, respectively.
By 2020 the number of Data Science and Analytics job listings is projected to grow massively
The most lucrative analytics skills include MapReduce, Apache Pig, Machine Learning, Apache Hive and Apache Hadoop. Data Science and Analytics professionals with MapReduce Data science and analytics professionals with expertise in Apache Pig, Hive and Hadoop are in high demand
Machine learning, big data, and data science skills are the most challenging to recruit for and potentially can create the greatest disruption to ongoing product development and go-to-market strategies if not filled. The study found that the high to cost to hire, a strong need for new training programs and the high risk to future productivity of these areas is one of the greatest challenges to organizations pursuing initiatives in these areas today.
The fastest-growing roles are Data Scientists and Advanced Analysts, which are projected to see demand spike by 28% by 2020. Data Science and Analyst jobs are among the most challenging to fill, taking five days longer to find qualified candidates than the market average. Employers are willing to pay premium salaries for professionals with expertise in these areas as well.
39% of Data Scientists and Advanced Analyst positions require a Master’s or Ph.D. The most in-demand jobs in data science and analytics require advanced education, further driving up demand and salaries for professionals with these qualifications. Continually learning and adding new knowledge in the field of data science and analytics is a great long-term personal development strategy that pays.
It takes 53 days on average to fill an Analytics Manager position in Professional Services, making this position one most challenging to recruit for. In contrast, finding Data Science and Analytics professionals in finance can be accomplished more efficiently, as is also the case in manufacturing.
Consider widening talent pool – Tier 2 General candidates
This all said where demand is increasing and the benchmark for candidates is so high, something has to give. Employers worldwide but especially here in the UK must consider widening their search and considering candidates who require visa sponsorship. Consultants are able to work on projects through consultancies and clients are kept happy receiving a high level of service and project delivery meeting their requirements.
For more information regarding Tier 2 General Sponsorship, should you be a candidate or a client looking to consider consultants on this arrangement do get in touch. Consult@mavisas.co.uk.
Thanks in advance
Mason Alexander