With all companies investing more in ensuring they have a strong digital presence and streamlined operation, and dedicated IT companies having a purely tech-based product or service, the market continues to grow. Businesses that are at the forefront of understanding and using new technology will always have a competitive edge.
In 2020, as more businesses understand the importance of data, and how information can be utilised to achieve better results, there will be a massive demand for data scientists. The emergence of this role is an example of business and IT blending together. Technology is always changing, so more roles are merging, splitting, and morphing along with it.
This year the Reed Technology salary survey is broken down into six dedicated practices – all of which have seen wage growth over the last three years. The guides use data gathered from 2.7 million jobs posted last year on reed.co.uk.
Strategy and leadership
The technology strategy and leadership market is ever-changing and the chief information officer role continues to dominate leadership wages. For example for salaries in Wales in a private sector company with less than 1,000 employees salaries average at £99,000 with an 18% bonus, while in larger companies – those with over 10,000 employees – this increases to £152,000 with a 28% .
Development and testing
There are plenty of active developers on the market, but when finding top talent for an organisation competition can be extremely fierce.
Infrastructure and support
In the South helpdesk managers have seen a 9.6% decline in average pay to £28,100 compared to £31,100 in 2019. Network managers in London have seen a salary increase of 10.7% - jumping up from an average of £63,700 in 2019, to £70,500 in 2020.
BI and data science
At present the candidate market is sparse in the data science industry –many companies are looking to bring in talented people from outside of the UK. Across all regions of the UK in the Reed Technology salary guide 2020 the wage for the role of data scientist is on the rise. This area of technology will only continue to strengthen as businesses realise they must take their BI, data and analytics just as seriously as they would security and infrastructure.
PMO and business change
In 2019 $1 trillion was spent globally on digital transformation projects, where you will find some of the best opportunities in the UK technology industry. In London, pay on the whole remains unchanged with some increases in certain roles, such as product manager (7.6%). Scotland is the region where declines in rates of pay are slightly higher, with salaries for business analysts going down by 9.9% this year.
IT and cyber security
The cyber security market is extremely active and has been growing at an incredibly fast rate since 2010. Our salary guide looks at salaries for 18 jobs, across 6 regions. This year, the Midlands and East have seen an 8.6% salary increase for InfoSec managers and the North a 5.9% increase in salaries for network security analysts.
Overall, the technology sector is moving quickly; both candidates and employers need to keep up-to-date with the latest trends and innovations. Tech professionals and businesses must develop at the same speed or faster than the technology they work with, or risk being left behind.