Data Scientists Wage Surge Hastens Outsourcing Trend
Posted on CMO.com on February 18, 2015
Salaries for data scientists and analytics professionals in Australia surged 14%, from AU$110,000 to $125,000, in 2014. And for those alchemists with core skills in social data, the mean salary tipped the scales at $200,000, more than three times the national average wage Down Under.
These figures for Asia-Pacific's most advanced digital market, revealed in a recent study by the Institute of Analytics Professionals of Australia (IAPA), are indicative of a broader issue in the region: Demand for data scientists is outstripping supply, driving costs through the roof and stymying the uptake of data-driven decision-making.
The surge in wages, however, may be short-lived as it hastens a switch to outsourcing, which "is seeing more and more requests from businesses for data collection, analytics, and visualization," according to Anna Frazzetto, senior vice president and managing director for international technology solutions at global executive recruiter Harvey Nash.
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