After we wrapped up our analysis on salary negotiation in analytics, we thought we’d take a look at another topic of interest: how much salaries typically increase when changing jobs.
Our main finding was that nearly two-thirds of the sample (65.1%) received a base salary increase between 10.1-20%, which is quite strong compared to the so-called “merit” salary increase of 2-4% that one might receive staying at the same job each year.
The chart below shows the distribution of analytics salary increases received when changing companies within the past year, and does not include those who received a promotion or otherwise stayed within the same company.
Our research also found that:
- Salary increases of 5% or less were the most uncommon, with only 9.5% of the sample receiving increases between 0-5%.
- Salary increases above 20% were also uncommon, with only 12.7% of the sample receiving salary increases of 20.1% or more.
- The average salary increase was 14.8%, while the median increase was 13.2%.
Note: It’s also important to note that this research does not include professionals who changed companies but didn’t receive a salary increase, or who took a pay cut, since those changes are usually made as a result of downsizing or personal considerations, such as accommodating a spouse’s relocation or prioritizing an industry transition over salary.
Looking for More Salary Information?
In our latest flash survey analysis, we asked data scientists and analytics professionals about salary negotiation, and examined how their responses varied by several factors to determine which groups are most likely to negotiate and who’s the most likely to receive a salary increase as a result.
Hoping to negotiate your salary? Check out this post for key salary negotiation tips from our quantitative recruiting team.
And, if you want to learn more about current trends and salaries in predictive analytics and data science, our salary reports go into more detail about how salaries vary by experience, region, industry, and more, and are available for free download.
I hope this information was helpful! If you’re looking to explore opportunities or hire professionals in data science or analytics, be sure to connect with us.
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In our latest Data Science & Analytics Career Planning video, our recruiters answer your top job search questions on resumes, bootcamps, tips for students/new grads, tools to learn, evaluating opportunities, and more! Check out their insights in the video below.