What is the Career Path for a Data Analyst?

Financial Analyst and Banking courses

The world has moved from an operations-oriented setting to a data-oriented setup. This movement has given rise to increasing demand for people who know how to manage data and draw useful insights from the same. With major disruptions in the technological space, more and more companies are demanding people who know how to manage data. A data analyst is one such person. He is known for his expertise in the field of data management. He is also responsible for converting data insights into simple business activity statements for easy implementation.

Industries where a data analyst can work

A data analyst can work in different kinds of industries. As technology is disrupting, all kinds of industries are looking forward to making use of this disruption and capitalise on the opportunity. Some of the major industries where a data analyst can work are as follows:

  1. Banking: This space has witnessed some of the major transformations in the way things work. With the help of data, everybody can now use mobile banking with satisfaction
  2. Media and Communication: A data analyst can provide different insights on campaign performance, consumer preferences, etc.
  3. Healthcare: This segment is the new elephant. Healthcare with the integration of data is expanding like never before.
  4. Education: EdTech companies use different artificial intelligence techniques to come up with innovative solutions in the education space.

A data analyst can also apply to several manufacturing firms as the automation process are kicking in. A data analytics course will help you in understanding what kind of jobs do data analysts perform in several companies.

The career path of a data analyst

A data analyst has a lot of potentials. He starts from an entry-level role and learns a lot from his experience. He then makes use of these experiences to climb up the ladder. So, the path traversed by a data analyst is as follows:

  1. Data Analyst: A data analyst is an entry-level position for a person who has sufficient knowledge in the field of data science. He is supposed to know preliminary programming languages like R, Python, etc. Also, the average pay of a data analyst is around 6 Lakhs per annum
  2. Associate Data Analyst: As soon as a person masters his job as a data analyst, he is promoted and made an associate data analyst. An associate data analyst earns about Rs.11 Lakhs per annum.
  3. Senior Data Analyst: Reaching this level is difficult. Also, the more steps you take on the ladder, the more difficult it gets. A senior data analyst must be a master of programming languages. A senior data analyst earns around Rs.13 Lakhs per annum.
  4. Product Manager: The company promotes a successful senior data analyst to the post of a product manager. Becoming a product manager is quite hectic. However, the role comes with great learning as well as a great learning opportunity. A product manager in India earns about Rs.16 LPA.
  5. Lead Data Analyst: A lead data analyst comes on one of the top levels of the hierarchy. People expect him to have a cloud computing experience. In India, the average pay is around Rs.20 Lakhs per annum. Lead data analyst is then promoted to a very senior position and can be called a director or vice president based on the norms laid down by the company. At this post, a person earns around 40 lakhs per annum. However, the figure is different across companies.

You can reach at the top in less time by brushing up your skills. An online course would help your cause. Becoming a data analyst is an achievement in itself.

Also Read: What are the Salary Trends in Data Analytics

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