What are the Salary Trends in Data Analytics?January 18, 2018
Data is being generated and used constantly in all our devices imperceptibly and has evolved into a huge asset in recent times. The very volumes of data being generated and used have crossed the definition of ‘Big’ data many times over. This has led to the technology handling data also evolving rapidly to keep pace and handle greater data volumes. Obviously, no matter how complex the tasks machines can execute they will need personnel and experts at handling data to keep going. Thus the scope for data analysts does appear very bright.
In tandem with demand for data analysts, the training institutes for supplying trained personnel are also constantly updating the courses and technologies taught to ensure the aspirants emerge job prepared. Certifications which are relatively recent are now almost mandatory to give employers a peek into skills possessed, languages they are proficient in and actually measure the readiness and suitability of the employee.
It goes without saying that a data analyst is as much of an asset to any organization as the data itself. Little wonder then, the Data analyst Salary for the aces in data analytics seems humongous in comparison to other jobs. Yes, it takes time, practice, a Data analytics Course and experience to get there but then demand always spurs handsome payouts.
The sought after roles:
• Developers for BI.
• Architects in Data, Applications, Infrastructure, Enterprises.
• Data experts categorized as Scientist, Analyst, Engineer, Statistician.
• Machine Learning Scientist, Engineer.
Salary Trends In Data Analytics
- This field is blessed to receive a fresher Data analyst Salary range of Rs 6 to 7 lakhs pa which is much higher than other job profiles. With 3 to 7 years on the job, they easily grow into the 1 lakh/month category and this doubles as you gain 7 to 10 years experience.
- The payouts are better in the metros and big cities. So are the opportunities.
- The best paying sector is the E-commerce platform companies who have enjoyed much success in the last few years. Starting off with Rs 7 to 8 lakhs packages is not uncommon. The service providers are paying well but not as high as these platforms.
- Skills in programming with R, SAS, Python, open-source free tool suites, etc can fetch salaries in the bracket of Rs 13 lakhs pa depending on your justifying your skill set. So get cracking and equip yourself.
- Big data jobs do not score over the Machine-Learning roles in modern times. ML roles start off with packages in the range of Rs 13 lakhs pa. It is ideal to have skills in Big data and analytics so you stand out of the crowd. You will need adeptness in big data tools like Python, Tableau, R, SAS, Spark along with ML suites like NoSQL Databases, Learning-Algorithms, and Data Visualization tool suites.
- Re-skill with a Data analytics Course so you can be where the action is if you are already a professional in any of the data-analytics fields. The trend is for generalized data specialists and not for just people who handle data well. After all, it makes organizational sense to have a person who can handle the entire gamut of data operations and analytics in comparison to hiring separate personnel for data and analytics job roles.
Choose your career
- A career as a Data Scientist:
The data can be big, small or very big. The data scientist examines them all while cleaning, formatting, munging, wrangling and preparing the data before he moves to perform predictive analysis that provides those forecasts, insights and data lakes to draw on.
One of their core strengths is readying the recommendatory systems used for e-commerce platforms like Flipkart, Amazon, ebay etc. Very large amounts of data are examined and patterns in purchasing, warehousing, supply-chain management, stocking, product preferences etc are determined. Since data can be structured in various source-dependant formats a large part of cleaning and preparing the data is required. In the US one could get a average Data analyst Salary range of 139,840$ and the trending e-commerce platforms like Twitter, Facebook, etc are ready to snap up the best.
- A career as Developers of BI:
The developer’s role is also an important role and can fetch average salaries in the range of 89,333$. The role involves developing and designing organizational policies and business decisions, building their own tools for analytics if required, improving the IT solutions through effective testing, coding, debugging and tool implementation.
- A career as an Analyst:
The analyst role is to provide those gainful insights. They come with good knowledge across verticals and can handle datasets efficiently. They are very popularly used in smaller businesses, verticals like marketing, HR, finance, etc where their insights help make better decisions. They do not earn as high as the data scientist but the payouts are still handsome.
- A career as an Engineer:
They collaborate with the scientist and analyst to maintain and develop the structure, create processes using datasets for mining, modeling, and verification of data, and thus spur almost all organizational processes. Their role is crucial in making the data readable and understandable. The average salary drawn is 151,307$ pa and they do have sufficient demand in the job market.
- A career in Data Analytics:
This role is popular for analyzing A/B testing, prioritizing data tasks, tracking the web, model making, working on big data set and producing reports for business decisions. The median salary is 83,878$ pa.
- A career in ML:
This role is the best paid with high demands and an excellent median salary range of 139,840$ pa. Their jobs involve the creation of funnels of data, software solutions, applying ML tools and algorithms, making prototypes, designing ML systems, and testing and debugging.
- A career as an architect:
An architect is responsible for the architecture and the role would depend on whether they are in the Enterprise, Data, Applications, or Infrastructure specialists. This is the highest paid job and the onus of being the supervisor, controller, subject expert, monitor, and liaising with both management and clients rests on him. With more challenging jobs the payouts are definitely higher. Median Data analyst Salary ranges of salaries could be from 126,353$ for Infrastructure architects to 161,272$ for Enterprise Architects.
The trends show that you should make a career in data analytics because of the demand and supply position is conducive to making a career here. Doing a Data analytics Course at Imarticus is the best-suited method for achieving your goals. Skill accumulation is the golden key. Take note that you get better with experience. So, don’t wait.