Q1.18 Analytics Hiring Up
Moves & Hires Within Analytics & Data Science Sector Picking Up
The analytics and data science market is starting to pick up the pace. Our recent analysis of job change and tenure shows an interesting new development, which certainly suggests that moves and changes within this specialised field is starting to pick up.
With many current openings for analytics and data science positions, the tremendous shortage appears to have driven up salaries in Q4 2017, aside from the additional newly qualified analytics professionals entering the market, this has had little effect on meeting with demand.
Analytics labour movement
We looked at our recent hiring data and identified the percentage of quantitative professionals who changed jobs in 2017 increased for both analytics professionals and data scientists.
22.9% of analytics professionals changed jobs in 2017 compared to 16.2% in 2016, and 30.2% of data scientists changed jobs in 2017 compared to 27.0% in 2016. The focus of our analysis concentrates on those professionals who moved companies, and discounts job changes through promotions or inter-company moves.
This topic is of particular interest to the analytics community. When we consult with analytics professionals, data scientists, and companies, people are keen to find out how long quant professionals tends to remain in their roles before changing jobs.
We examined the length of tenures of 50 Avellio analytics candidates that we have placed with clients over the past 4 years to establish a set of industry averages.
We examined those quant professionals who left companies for new career opportunities in 2017, and examined how long they stayed at their previous jobs.
As the data illustrates, analytics professionals and data scientists remained in their jobs far longer in our 2017 analysis than they did in the preceding year of 2016, both groups remained on average almost 12 months longer in their tenures.
Analytics professionals stayed 2.3 years in 2016 which increased to 3.6 years in 2017, with data scientists remaining 1.7 years in 2016, increasing to 2.7 years in 2017.
2018 is off to a very strong start, with quantitative teams keen to cover off positions by hiring-in expert talent. Over January and February of this year we’ve seen a increased demand from clients to fill open roles and expand capabilities, as we head in to Quarter 2 we can see no sign of demand abating.
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