Data forms the systems in which we communicate every day more and more. In the last few years, about 90 percent of existing data have been generated. We enter an era where we produce 2.5 bytes of Quintillion every day, which is the backbone of much data. So, what about this data? Ok, Data Analyst comes into the picture here.
Data analysis is becoming one of the world’s most common jobs. As a result, in India, the salary of the data analyst is substantially higher than other professionals involved in software.
Salary is the top factor in your choice of job or even an offer that suits you! Let’s then spend a few minutes exploring the average Data Analyst Salary (India) for informed decision-making.
So, suppose you have the necessary skills and are willing to keep you up to date. In that case, your career as a data analyst will continue to develop. This line is particularly valid when we consider that in India, the salary of data analysts is directly or indirectly based on how highly qualified and updated they are.
Who is a Data Analyst?
Data analysts can interpret numbers, facts, figures into plain English that everyone can understand. This role involves data mining, language fluency such as SQL, and Python, through which you will extract the necessary insights, and you can channel those ideas into visualizations and reports. A Data Analyst gathers, stores, and interprets data to turn them into valuable business insights that enhance business operations and facilitate decision-making based on information.
How to become a Data Analyst?
Anyone with the motivation will enter data analytics to analyze the data and a keen eye for numbers. It is not mandatory to have a background in mathematics. You would not have to commit to years of schooling or training to learn the relevant skills. You will get real experience working with data analysts software and systems every day by taking a Data Analyst course. You can also learn how to view data and how to make that data meaningful.
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Data Analyst Salary Trends based on factors
Indeed, data analysis has become a hot job, not only in India but worldwide. In India, the salary of data analysts is considerably higher than that of most other occupations.
Research in the business shows that by 2021, the number of jobs will rise to 2.72 million. It is a 15 percent annual raise over five years. Data scientists and advanced analysts are the fastest-growing specialties in the wider DSA group.
The 2019 Salary Guide from Robert Half Technologies includes the average starting salaries in the study of various percentiles for new employers to reflect the levels of experience of the new employees. This data indicates that an annual average pay of $80,000 has been offered to the least experienced applicants. The most skilled applicants receive an average of almost $140,000. It shows that, while demand for data analysts is rising faster than accessibility, more and more employers are searching for more skilled new jobs. The median annual income is overgrowing. However, changes in demands for expertise reduce the numbers. Data analysts at the entry-level are not as often asked to boost the overall pay further.
- Education and qualification:
For an aspiring data analyst, obtaining a bachelor’s degree is crucial. The applicant may graduate in computer science, statistics, mathematics, or any other related area. For a mid-level or senior-level analyst, a master’s or Ph.D. is a must.
- Increased experience:
Data analyst salaries rely heavily on understanding job applicants, particularly in a professional’s first ten years of work. PayScale.com estimates that an average of around 24% more than entry-level employees earns for applicants from the age of 5 to 9 years. The seasoned data analysts with over 20 years experience, on the other hand, had just approximately 6% more revenue than staff with five to nine years of experience. In particular, data analysts appear to be more compensated by:
- Data analysis
- Statistical analysis
- Database management and reporting
- Industries that need data analysts:
Three economic sectors employ 59% of all DSA workers, according to the Burning Glass report. They are banking, insurance, professional services, and information technology sectors. These are the sectors that drive the market for big data in the economy, so the use of data analysts is not surprising. Professional services firms, in particular, employ 34% of the employees as data analysts, while finance and insurance firms employ 25%. Professional services ($75000 average), finance and insurance (average of $83,000), and production (average $73,000) are the three highest-paid sectors for data analysts.
- Geographic variations:
Location is an essential factor in determining an aspiring data scientist’s salary. Geography is crucial as major metropolitan areas need more professionals for data analysts than in the suburbs. Many start-ups often start up their company and use data analysis to increase their business.
- Top tech companies:
Data analysts are also sought in leading technology firms worldwide because of their high salaries. Apple and Facebook pay far more than average, as Payscale notes. Besides being based in a lovely, well-equipped workplace, working in technology can be unbelievable if it is a challenging learning experience. Employees undergo rapid change and learn about the techniques that shape our nation.
Given the enormous amount of data collected daily by technology firms, it’s no wonder that data analysts play a significant role in the technology industry. According to Payscale, Amazon’s data analysts can be charged up to $106,000 in the United States, and Facebook provides similar amounts according to India. In London, Amazon’s Data Analyst salaries are estimated to be £38,000 by Glassdoor. A Google data analyst in London is expected to receive a marginally higher salary range from GBP 42,000 to GBP 52,000. Average salaries can be up to $95,000 for those employed at the San Francisco Google office.
Data analysts are the company’s key management leaders. Managers depend on the work product of data analysts to decide the overall management of the company. Data analysts provide at a team level these valuable insights, which allow developers, engineers, and others to choose in the short term.