Interested in what a data analyst salary in London looks like in 2024?
We’re all here because we want to have a job that we love or to help you get a job you love. But let’s not pretend there aren’t bills to be paid! Your savings account deserves as much attention as your job satisfaction and luckily for you, the data industry is huge, and it’s growing even still. And the UK offers superb opportunities for those with the skills and drive to succeed.
Data analyst salaries in London can vary significantly based on experience, industry, and specific job roles. For instance, entry-level data analysts in the financial sector may earn around £35,000 per year, while senior data analysts in tech companies like Google or Amazon can earn upwards of £70,000 annually. Specialized roles in data science and machine learning often command even higher salaries, reflecting the advanced skill set required.
Factors Influencing Data Analyst Salaries in London
The average salary for a data analyst in the UK is currently around £28,750 for an entry-level job and salaries can rise very fast with progression and experience.
Data analysts with a degree earn from £29,000 in their first role on average and those at entry-level but without a degree usually start at around £24,000. Data analysts are in high demand as the field is growing rapidly and analysts working in a big firm are usually earning around £35,000 after just a few years.
Once you’ve got a few years of experience under your belt, a good data analyst can earn on average around £60,000, which is comparable to consulting roles in the field. According to Glassdoor, the average salary for a data analyst in London is approximately £45,000 per year. However, salaries can range from £30,000 for entry-level positions to over £80,000 for highly experienced roles in top firms. The Office for National Statistics reports that the tech sector in London has seen a 12% year-over-year increase in data-related salaries.
If you're outside of London, even though remote work is evening out the playing field, the company's location will greatly influence the salary on offer. Data analysts working in the South of England can expect to earn more than those elsewhere. Across the UK, larger cities will most likely be offering higher compensation, but the cost of living is also likely to be higher than rural areas. You'll have to do the math to figure out whether the salary a company is offering can support your lifestyle– luckily data analysts are pretty good with numbers! And in such a well-paying field, you shouldn't have to tighten your purse strings anyway.
Photo by Benjamin Davies on Unsplash
What does a data analyst do?
Today's businesses are completely driven by data, which governs every decision across every function. From deciding which customers to target to identifying ways to reduce waste in the business, managers need to access timely, accurate, and rich data upon which they can steer the business.
Everyone in a business needs data, but not everyone is completely data literate:
Marketers need to understand how touchpoints with their users are attributed, to figure out which channels and campaigns are working best.
Product designers need to know where the digital experience they’ve built is working and where people are dropping off, in order to make improvements.
Leaders and c-suite need to understand performance metrics in order to make key business decisions.
But these individuals may not be the best at looking at a spreadsheet full of raw data and at extracting the insights they need. That’s where data analysts come in.
Source: 365 Data Science
Data analysts work with each business function to provide vital data:
The job certainly involves looking at the numbers, but data analysts take things further and know how to use data that allows organizations to make informed choices.
This might include producing reports, visualizations, summaries and other methods of data presentation that bring raw numbers to life and provide context and insight.
These roles are already greatly in demand and the field is growing fast as businesses deal with increasing volumes of data and have to find ways to manage and organize it.
Responsibilities of Data Analysts
Data analytics combines practice and theory to pinpoint and share data-driven insights that allow organizational stakeholders to make strong decisions. Experienced analysts will consider their outputs in a broad context, including organizational factors such as the competitive environment, when they make updates and recommendations to their internal customers.
Data analysts usually boast the following skills:
Experience in fields such as probability theory, data visualization, statistical modeling, risk management and predictive analytics.
Adept with database languages, programming languages and other software languages.
Able to work with descriptive, diagnostic, predictive and prescriptive analytics which build upon each other to add increasing value to the business.
In a typical week, a Data Analyst might:
Design and manage a data system and series of databases, ensuring that they are free of errors
Mine data from a range of sources and then organize it for easy reading
Use statistical tools to analyze data sets and look for patterns and trends that are key for diagnostic and predictive analytics
Explain how the data results sit within the broader environmental context
Prepare reports that include visualizations of data, patterns of data, and predictions
Work with internal and external partners such as engineers, programmers and business leaders to identify ways that processes can be improved, systems developed and data policies for governance strengthened
Produce and manage data analysis documentation and processes
Data analysts tend to take on increasing leadership roles over time and become internal consultants with strong communication, management and functional skills, working closely with senior business leaders to help them make sound decisions with the in-depth data and insight they provide into the business and its operation.
Photo by Claudio Testa on Unsplash
This makes data analytics a good choice for a career changer who will have many of these existing higher-level skills and can build their technical base through further targeted study.
The Best Way to Land a Data Analytics Role
Those lucky enough to realize what their dream job is while they’re still youthful teenagers may choose to pursue a university degree in Data Science, Data Analytics, or even Big Data. But it takes years of full-time study and thousands of pounds to earn a traditional degree, and without hands-on experience graduates still find themselves fighting over entry-level roles.
Others may look for an IT apprenticeship to fill their skills gaps, and gain entry to the data industry through on-the-job learning. These apprenticeships aren’t as regulated or well established as degrees, and can be hard to find. You really do have to be in the right place at the right time…or know just the right people.
Steps to Increase Your Salary as a Data Analyst
Gain Experience: Focus on building your experience in data analysis, aiming for roles that offer diverse challenges.
Certifications: Obtain certifications such as Certified Data Professional (CDP) or Microsoft Certified: Azure Data Scientist.
Industry Specialization: Consider specializing in high-paying industries like finance, tech, or healthcare.
Negotiation Skills: Improve your negotiation skills and be prepared to discuss salary during interviews.
At Ironhack, we designed our Data Analytics bootcamps to fill the gaps left by traditional education. You don’t need to quit your job and go back to university for 3+ years, as you can earn your Data Analytics certificate in as little as 9 weeks full-time or 24 weeks part-time. And with our dedicated careers services, we’ll help you meet the right people at the right time (with the right resume to show off your new skills).
Take the guesswork out of breaking into the UK data industry, and check out our Data Analytics bootcamps!
About the Author:
Juliette Carreiro is a tech writer, with two years of experience writing in-depth articles for Ironhack. Covering everything from career advice and navigating the job ladder, to the future impact of AI in the global tech space, Juliette is the go-to for Ironhack’s community of aspiring tech professionals.
