What are the Salary Trends in Data Analytics?January 18, 2018
Times are changing, from a generation that was addicted to television, we are now in the age with extreme dependency on devices. It is not only for pleasure but also convenience. Using e-commerce websites to shop, or apps to remind you about your medicine intake, to having an interactive house where appliances communicate with you to keep things in order when you are back from a long day at work, all this is possible due to our own data and data connected devices. Institutions have recognized that they can be integral and add great business value by applying Data Analytics. Huge investments have been made by organizations in Data Analytics, specifically in creating data products which will make our lives simpler.
The way the world is progressing there is a huge demand for professionals in the Big Data Analytics field. Many job profiles and roles have come up, Data Scientist, Data Architect, Data Analyst, Big Data Engineer etc…., are being headhunted by recruiters and talent management professionals. There are many perks attached to a role in Big data analytics, not only are you involved in a satisfying role, genuinely impacting the way the business is performed, but also since there is a high demand in the comparatively new line of business, the supply of individuals with the right talent is scarce, hence the big advantage is the high pay scale, in comparison with other traditional professions.
According to a survey conducted by the Analytics Association, many data science professions were spoken to in a matter of 12 months to gauge the analytics and data science industry. The survey was focused on the Indian trends.
It is important to be aware of the salary trends here, as, after the US, India has the largest demand of analytics, and IT professionals with experience or freshers will get a clarity on the skill to pick up and make an informed decision on the role to pursue.
Salary Trends in Data Analytics
- Freshers in Analytics get paid more than then any other field, they can be paid up-to 6-7 Lakhs per annum (LPA) minus any experience, 3-7 years experienced professional can expect around 10-11 LPA and anyone with more than 7-10 years can expect, 20-30 LPA.
- Opportunities in tier 2 cities can be higher, but the pay-scale of Tier 1 cities is much higher.
- E-commerce is the most rewarding career with great pay-scale especially for Fresher’s, offering close to 7-8 LPA, while Analytics service provider offers the lowest packages, 6 LPA.
- It is advised to combine your skills to attract better packages, skills such as SAS, R Python, or any open source tools, offers around 13 LPA.
- Machine Learning is the new entrant in analytics field, attracting better packages when compared to the skills of big data, however for a significant leverage, acquiring the skill sets of both Big Data and Machine Learning will fetch you a starting salary of around 13 LPA.
- Combination of knowledge and skills makes you unique in the job market and hence attracts high pay packages.
- Picking up the top five tools of big data analytics, like R, Python, SAS, Tableau, Spark along with popular Machine Learning Algorithms, NoSQL Databases, Data Visualization, will make you irresistible for any talent hunter, where you can demand a high pay package.
- As a professional, you can upscale your salary by upskilling in the analytics field.
This is the age of the analytics specialist and not anyone with general skills in big data. As the field is evolving, the expectations are getting more specific. Applicants or professionals working in the field should have the ‘Subject Matter Expertise of Analytics’, and ‘The Understanding of the Business Vertical’ they wish to work in so that they have a good combination of skills and the Business Context to apply those skills.
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