Product Analyst Salary in United Kingdom during 2024

Salary details

The average Product Analyst salary lies between USD 75,000 and USD 93,750 in the United Kingdom. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

Region represents the primary country of residence of an employee during the year (or residence for tax purposes). All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 17, 2024

Top 20 Job Tags for Product Analyst roles

The three most common job tag items assiciated with Product Analyst job listings are Python, SQL and Statistics. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

Python | 190 jobs SQL | 188 jobs Statistics | 149 jobs Tableau | 128 jobs Engineering | 122 jobs A/B testing | 92 jobs Testing | 89 jobs R | 88 jobs Data analysis | 84 jobs Machine Learning | 77 jobs Data visualization | 68 jobs Mathematics | 66 jobs Computer Science | 64 jobs Power BI | 61 jobs Looker | 60 jobs Research | 60 jobs KPIs | 60 jobs Economics | 43 jobs Excel | 41 jobs ETL | 34 jobs

Top 20 Job Perks/Benefits for Product Analyst roles

The three most common job benefits and perks assiciated with Product Analyst job listings are Career development, Startup environment and Health care. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 153 jobs Startup environment | 87 jobs Health care | 69 jobs Competitive pay | 60 jobs Equity / stock options | 58 jobs Flex hours | 54 jobs Team events | 51 jobs Medical leave | 44 jobs Parental leave | 39 jobs Salary bonus | 32 jobs Flex vacation | 30 jobs Insurance | 29 jobs Wellness | 21 jobs Lunch / meals | 19 jobs Gear | 17 jobs 401(k) matching | 11 jobs Paid sabbatical | 10 jobs Yoga | 9 jobs Fitness / gym | 8 jobs Relocation support | 8 jobs

Salary Composition

In the United Kingdom, the salary composition for a Product Analyst in AI/ML/Data Science typically includes a fixed base salary, a performance-based bonus, and sometimes additional remuneration such as stock options or other benefits. The fixed base salary is the largest component, often accounting for 70-80% of the total compensation package. Bonuses can vary significantly depending on the company’s performance and individual achievements, usually ranging from 10-20% of the base salary. Additional remuneration, such as stock options or profit-sharing, is more common in larger tech companies or startups and can add another 5-10% to the total package. The exact composition can vary based on the region, with London-based roles often offering higher salaries due to the cost of living, and the industry, with tech and finance sectors typically offering more competitive packages.

Increasing Salary

To increase your salary from a Product Analyst position, consider the following steps:

• Skill Enhancement: Continuously upgrade your skills in AI/ML and data science. Mastering advanced tools and techniques can make you more valuable to your employer.
• Networking: Build a strong professional network. Engaging with industry professionals can open up opportunities for higher-paying roles.
• Advanced Education: Pursue further education, such as a master's degree or specialized certifications, to enhance your qualifications.
• Leadership Roles: Aim for leadership or managerial positions within your organization, as these roles typically come with higher pay.
• Industry Switch: Consider moving to a higher-paying industry, such as finance or tech, if you are not already in one.

Educational Requirements

Most Product Analyst roles in AI/ML/Data Science require at least a bachelor's degree in a relevant field such as computer science, data science, statistics, or engineering. A strong foundation in mathematics and statistics is crucial. Some employers may prefer candidates with a master's degree, especially for more senior positions. Additionally, coursework or experience in business or economics can be beneficial, as it helps in understanding market dynamics and product strategy.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile and demonstrate your expertise. Some valuable certifications include:

• Certified Analytics Professional (CAP)
• Google Data Analytics Professional Certificate
• Microsoft Certified: Azure Data Scientist Associate
• AWS Certified Machine Learning – Specialty
• IBM Data Science Professional Certificate

These certifications can provide a competitive edge by validating your skills and knowledge in the field.

Required Experience

Typically, a Product Analyst in AI/ML/Data Science is expected to have 2-5 years of relevant experience. This experience should include working with data analysis, statistical modeling, and machine learning techniques. Experience in product management or a related field can also be advantageous. Employers often look for candidates who have demonstrated the ability to translate data insights into actionable business strategies.

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