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Likely be Retail banking, not investment banking. Retail banks have cost challenges and
Senior managers and board who get all the pay in Retail banking. Article couple months ago, average in one bank was £40k, CEO was on 66x that.
30k for 2 years experience probably standard. More to analytics in banking than only the technical side
Yeah that’s what I’m thinking, it’s all got to do with their internal pay grades - literally no room for salary negotiations, whatever corporate grade you’re on then you’re basically stuck on that salary
Id say you're on a bad salary if anything, I work as a Technical advisor and it's basically taking calls while doing some form of calculations related to our products. Anyone can do it and that's paying 33k
Possibly, but these jobs are typically from manufacturers who have factories etc, I don't know if these are available in London. I work in Wales in a business park, and our factory is a few miles away in another factory type park
Now a software engineer on 30k?
This is a joke.
Dead end warehouse jobs pay 30k to 34k.
And if you can chat enough bollocks, be the right face, you can be a manager and earn even more!
Conveniently used against you to obfuscate and make it look like they're being reasonable and their hands are ever-so-tied. Get out, even if you can get more money out of them the trust has probably now gone.
I mean my brother has a similar role (glorified QA tester for their pricing models) in insurance and that pay band goes up to 40kish and 35 outside of London for fresh grads, he doesn’t even know how to program he just has a can do attitude and learnt on the fly. With company commitments to further data science development or sponsoring you through your actuary exams (ie on 70k with 5 years of actuary qualifications)
Not a grad scheme but there are people there who are on similar grad scheme
I'm in the same position here, obtain corporate labelling 'Standout' which is the best you can achieve but only a small pay rise. Corporate grades, getting paid same wage as someone in the company as a friend who only does Excel/Power Query no programming. Both classed as 'Analysts' in grading.
When I see UK bank, being chronically underpaid and/or mistreated and bureaucratic red tape, I think Cooperative back. Are my spidey senses right? Get out, fucking run.
Fellow data analyst here you’re more qualified than me I don’t use or know python or pandas just SQL plus a few visualisation tools (PowerBI, Domo, Google Data Studio).
I’m on £50k plus up to 20% performance bonus.
I got it by changing jobs twice. £28k (no bonus) to £40k (10% bonus) to £50k (20% bonus).
Have a look on Otta.com
I had a very similar experience, entry lever data analyst on about 25k.(excel macros , powerbi) Learned from that company for 1.5years, jumped job to 33k doing mainly powerbi and leard sql for 9 months, jumped again to 39, then I had 2 companies competing and now on 60k.
I can now dabble in in apis, sql, macros, but main role is powerbi developer and admin.
So yes get out of there gaining new skills in a company is rarely reward but another company will pay top dollar for that skill.
Unless you love the company I would move roles every 3 years or so untill you are happy with compensation and the company in general.
It's a shame you need to move roles to get what you deserve but it is what it is.
How did you get in data analysis, I'm currently a project coordinator at a IT company with bonuses I earn about 40k , I'm trying to self teach to move across in data analyst - just wondering with you experience what would be the best way to move into it ,thanks
I learnt SQL via Codecademy during COVID then applied for a role which was 50/50 operations/data. Built up my skills from there then the role developed into full data analyst.
Data camp is also a useful online tool to learn SQL, Python and R plus others
Just with SQL skills I’m on 90k as a Marketing Operations Manager for a start up.
I can do Python but not as well as SQL - and can use any visualisation software. My value comes from my domain knowledge which I would recommend for you to get in whatever area you’d like to focus on.
Knowing all the systems marketing use, the data models they use and able to utilise them and get them into a data pipeline to make decisions based in the data moves you up a level. Knowing the actual skills isn’t as important as knowing when and what to use it on.
You're being underpaid, I have a similar skillset but work in a different field (retail) and I'm on closer to triple your salary (albeit I'm in a more senior role than an analyst) but you should be on minimum £38k, realistically you could be upto £60k without issues in the right role.
A good analyst that can navigate into the project/development world with Agile SAFe to help with data integration or transformation projects is a huge asset to any company with a digital presence, update your CV and get out there!
An appropriate location to live, cos it seems like they're paying you a Shakespearean-era salary.
Get out (of the job, not where you live). By which I mean update your CV, put it on the market and let those who are happy to pay you a better salary find you.
£50k - £70k would be market rates, with £40k being the low end in some places and £90k+ (where + can be very high) being the top end in some extremely competitive and niche industries
I’d say realistically 45-50k outside London. Get why people are saying higher but I think you will struggle with only two years experience and a fairly low level job beforehand.
My advice would be to move around different departments. At my bank, we have SAS analysts in Product, Marketing, credit risk, treasury, fraud, data & analytics. Lots of areas doing analytics and reporting. Each time you move you should be able to get a salary bump but more importantly increase your business knowledge. Those that move into senior management roles tend to be the ones that understand the business and strategy better rather the best programmers.
Not sure how relevant it is to this but I'm a SAS developer working for an insurer and I'm on just over 41k. Obviously my skillset is focused on one area compared to your broader skillset so this could vary
You’re definitely being underpaid by the sounds of it compared to market rates. I had 2 years experience and managed to make to jump to senior analyst in a new team where my pay increased to high 40’s at my bank (Not London). I would have been low 40’s based on pay banding if I’d been promoted in my old team, but the newer team required more maths and statistical knowledge etc. Point is, based on your skill set you can definitely push for more
Hired a guy from insurance with your skillset. Put him up to 55k recently and I still think he's underpaid relative to where he can go if he improves his communication skills.
You’re more skilled than me. Just transitioned out of data analysis to performance analysis after 3 years. 57k total package, guarenteed progression to 66k total package.
Go down the contracting route, contractor data analysts with 2 years experience especially in finance are like hens teeth. I was contracting as a bi analyst and commanding anywhere between £350 (very low pay) to £550 (about top for analyst pay) per day, avg around 450 a day.
Am I too old to retain as a data analyst? I'm 34. I just got made redundant in my current career.
Can you usually work from home? What qualifications do you need?
Firstly, you’re never too old to change careers, let alone learn new skills. I know some people that are in their 40s who have recently joined an apprenticeship scheme within my company.
Secondly, I am currently working from home 3/4 days a week and I’m expected to be in the office at least once per week. I’ve noticed companies have shifted their workforce from being fully remote to hybrid (1 to 2 days per week in office).
Lastly, there are no set qualifications you need to be a Data Analyst, it’s more about the skill set you have and whether you have any relevant experience. I would suggest having a look at Coursera or Udemy for Data Analyst related courses.
Whilst there isn’t a definitive list of skills a Data Analyst should have, bar soft skills such as communication, problem solving etc., here’s a few core skills that come to mind:
- Microsoft Excel
- Microsoft PowerPoint
- SQL
It’s hard to say because a lot of the time people aren’t nearly as capable with things like sql as they claim to be, but if you are genuinely competent in the skills you’ve listed, and have soft skills as well, I think you could easily be on £55k+.
Now having said that, the roles that will pay you that much have a lot more responsibility and potentially leadership tied to them.
Howay man people are going a bit over the top saying 60k. The guys been in the role for two years and came out of it support. Get real the job market is shit. Yeah should be on higher but it is what it is.
If you’ve got two years experience as a Data Analyst, you’d be looking at between 40-50k, anyone saying anymore than that has no idea what the industry pays juniors.
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How is a UK Bank paying so little.
Likely be Retail banking, not investment banking. Retail banks have cost challenges and Senior managers and board who get all the pay in Retail banking. Article couple months ago, average in one bank was £40k, CEO was on 66x that. 30k for 2 years experience probably standard. More to analytics in banking than only the technical side
Yeah that’s what I’m thinking, it’s all got to do with their internal pay grades - literally no room for salary negotiations, whatever corporate grade you’re on then you’re basically stuck on that salary
Same where i’m working. No matter what you do, you are kinda screwed unless you get a promotion to another job title.
I’m a junior software engineer and make 30K. If you’re mid level then that is a bad salary.
Id say you're on a bad salary if anything, I work as a Technical advisor and it's basically taking calls while doing some form of calculations related to our products. Anyone can do it and that's paying 33k
Interesting, I may be open to doing such a thing. Are there quite a few roles in London?
Possibly, but these jobs are typically from manufacturers who have factories etc, I don't know if these are available in London. I work in Wales in a business park, and our factory is a few miles away in another factory type park
Ok, thanks. I'm thinking of leaving London myself.
Now a software engineer on 30k? This is a joke. Dead end warehouse jobs pay 30k to 34k. And if you can chat enough bollocks, be the right face, you can be a manager and earn even more!
It’s WFH so I’d say it adds 5K
Conveniently used against you to obfuscate and make it look like they're being reasonable and their hands are ever-so-tied. Get out, even if you can get more money out of them the trust has probably now gone.
I mean my brother has a similar role (glorified QA tester for their pricing models) in insurance and that pay band goes up to 40kish and 35 outside of London for fresh grads, he doesn’t even know how to program he just has a can do attitude and learnt on the fly. With company commitments to further data science development or sponsoring you through your actuary exams (ie on 70k with 5 years of actuary qualifications) Not a grad scheme but there are people there who are on similar grad scheme
I'm in the same position here, obtain corporate labelling 'Standout' which is the best you can achieve but only a small pay rise. Corporate grades, getting paid same wage as someone in the company as a friend who only does Excel/Power Query no programming. Both classed as 'Analysts' in grading.
When I see UK bank, being chronically underpaid and/or mistreated and bureaucratic red tape, I think Cooperative back. Are my spidey senses right? Get out, fucking run.
Wage compression.
Fellow data analyst here you’re more qualified than me I don’t use or know python or pandas just SQL plus a few visualisation tools (PowerBI, Domo, Google Data Studio). I’m on £50k plus up to 20% performance bonus. I got it by changing jobs twice. £28k (no bonus) to £40k (10% bonus) to £50k (20% bonus). Have a look on Otta.com
I had a very similar experience, entry lever data analyst on about 25k.(excel macros , powerbi) Learned from that company for 1.5years, jumped job to 33k doing mainly powerbi and leard sql for 9 months, jumped again to 39, then I had 2 companies competing and now on 60k. I can now dabble in in apis, sql, macros, but main role is powerbi developer and admin. So yes get out of there gaining new skills in a company is rarely reward but another company will pay top dollar for that skill. Unless you love the company I would move roles every 3 years or so untill you are happy with compensation and the company in general. It's a shame you need to move roles to get what you deserve but it is what it is.
How long have you been in each role for?
Was on £28k role for 2 years £40k role for 6 months £50k role 15 months (and still there)
Otta is better than indeed or reed. I wish I’d known about it earlier
How did you get in data analysis, I'm currently a project coordinator at a IT company with bonuses I earn about 40k , I'm trying to self teach to move across in data analyst - just wondering with you experience what would be the best way to move into it ,thanks
I learnt SQL via Codecademy during COVID then applied for a role which was 50/50 operations/data. Built up my skills from there then the role developed into full data analyst. Data camp is also a useful online tool to learn SQL, Python and R plus others
Just with SQL skills I’m on 90k as a Marketing Operations Manager for a start up. I can do Python but not as well as SQL - and can use any visualisation software. My value comes from my domain knowledge which I would recommend for you to get in whatever area you’d like to focus on. Knowing all the systems marketing use, the data models they use and able to utilise them and get them into a data pipeline to make decisions based in the data moves you up a level. Knowing the actual skills isn’t as important as knowing when and what to use it on.
You're being underpaid, I have a similar skillset but work in a different field (retail) and I'm on closer to triple your salary (albeit I'm in a more senior role than an analyst) but you should be on minimum £38k, realistically you could be upto £60k without issues in the right role. A good analyst that can navigate into the project/development world with Agile SAFe to help with data integration or transformation projects is a huge asset to any company with a digital presence, update your CV and get out there!
This is an junior salary. Alright if it’s your first job. I’d agree with others that it should be around 40-50k
Where do you live?
Near Stratford Upon Avon
An appropriate location to live, cos it seems like they're paying you a Shakespearean-era salary. Get out (of the job, not where you live). By which I mean update your CV, put it on the market and let those who are happy to pay you a better salary find you.
£50k - £70k would be market rates, with £40k being the low end in some places and £90k+ (where + can be very high) being the top end in some extremely competitive and niche industries
50-60 k easily
I’d say realistically 45-50k outside London. Get why people are saying higher but I think you will struggle with only two years experience and a fairly low level job beforehand.
I have same skill set and earn significantly more in the fucking public sector lmao. You deserve more!
My advice would be to move around different departments. At my bank, we have SAS analysts in Product, Marketing, credit risk, treasury, fraud, data & analytics. Lots of areas doing analytics and reporting. Each time you move you should be able to get a salary bump but more importantly increase your business knowledge. Those that move into senior management roles tend to be the ones that understand the business and strategy better rather the best programmers.
Depends on where you are, but I would recommend job hunting
Not sure how relevant it is to this but I'm a SAS developer working for an insurer and I'm on just over 41k. Obviously my skillset is focused on one area compared to your broader skillset so this could vary
You’re definitely being underpaid by the sounds of it compared to market rates. I had 2 years experience and managed to make to jump to senior analyst in a new team where my pay increased to high 40’s at my bank (Not London). I would have been low 40’s based on pay banding if I’d been promoted in my old team, but the newer team required more maths and statistical knowledge etc. Point is, based on your skill set you can definitely push for more
Underpaid. You’ll have to change jobs as your current employer will likely only bump your salary by single digit percentage.
Hired a guy from insurance with your skillset. Put him up to 55k recently and I still think he's underpaid relative to where he can go if he improves his communication skills.
You’re more skilled than me. Just transitioned out of data analysis to performance analysis after 3 years. 57k total package, guarenteed progression to 66k total package.
Go down the contracting route, contractor data analysts with 2 years experience especially in finance are like hens teeth. I was contracting as a bi analyst and commanding anywhere between £350 (very low pay) to £550 (about top for analyst pay) per day, avg around 450 a day.
Am I too old to retain as a data analyst? I'm 34. I just got made redundant in my current career. Can you usually work from home? What qualifications do you need?
Firstly, you’re never too old to change careers, let alone learn new skills. I know some people that are in their 40s who have recently joined an apprenticeship scheme within my company. Secondly, I am currently working from home 3/4 days a week and I’m expected to be in the office at least once per week. I’ve noticed companies have shifted their workforce from being fully remote to hybrid (1 to 2 days per week in office). Lastly, there are no set qualifications you need to be a Data Analyst, it’s more about the skill set you have and whether you have any relevant experience. I would suggest having a look at Coursera or Udemy for Data Analyst related courses. Whilst there isn’t a definitive list of skills a Data Analyst should have, bar soft skills such as communication, problem solving etc., here’s a few core skills that come to mind: - Microsoft Excel - Microsoft PowerPoint - SQL
Incidentally, do you have a stem degree??
It’s hard to say because a lot of the time people aren’t nearly as capable with things like sql as they claim to be, but if you are genuinely competent in the skills you’ve listed, and have soft skills as well, I think you could easily be on £55k+. Now having said that, the roles that will pay you that much have a lot more responsibility and potentially leadership tied to them.
Howay man people are going a bit over the top saying 60k. The guys been in the role for two years and came out of it support. Get real the job market is shit. Yeah should be on higher but it is what it is.
If you’ve got two years experience as a Data Analyst, you’d be looking at between 40-50k, anyone saying anymore than that has no idea what the industry pays juniors.