Do you find it enjoyable to work with data and numbers? A profession as a data analyst is something you should consider. So, is the data analytics salary in India in 2024 adequate? What are the trends in data analytics salary in India? Above are some of the important things to consider. Globally, data analysts are in great demand. They receive some of the highest pay. This blog post discusses data analyst pay in India according to organisation size, geography, experience level, and skill set. We’ll start by defining data analysts and their roles before discussing the pay range for varying degrees of experience.
Thus to become a data analyst and demand a high salary, you must possess the necessary skills and keep up with current developments by continuing your learning. Many criteria determine a Data Analytics Salary in India, but their abilities are their most important asset.
Who is a Data Analyst?
Experts working with data. Data analysts can convert numbers, figures, and statistics, into plain English. Understandable to all members of the company. Around 2.5 quintillion bytes of data are generated every day worldwide. A data analyst’s responsibility is to filter through this flood of data and find the important information. Data is ultimately delivered to the stakeholders, as reports and visualizations. Data analysts may always do better because the subject is still very young and new developments are made daily. For experts with a strong foundation in math, statistics, and computer science, it is the ideal career path.
What does a Data Analyst do?
Data analysts are in charge of gathering, storing, and analyzing data. Analysts gain valuable information to help companies run more efficiently. Let’s go ahead now that you know about the characteristics of data analysts and their function inside an organization. Also, you will read about the different abilities required to pursue a career in this sector and the data analytics salary in India.
Why is Data Analytics Booming?
Every industry has an endless supply of data, so it is necessary to have someone who can analyze and assess the growing volumes of data. Therefore, the following factors are contributing to the growing demand for data analysis:
- Company executives develop fresh and creative proposals for the expansion of their company, based on expertly carried out data analytics.
- Data analytics is thus essential for every organization’s ability to make informed decisions.
- Data science employment and data analytics are growing in popularity due to the increasing digitization of Indian organisations and the expansion of multinational firms’ footprints.
Which Data Analytics Skills Command a Higher Salary?
Data analytics skills that command a higher salary hour:
1. Python
This is an essential data analysis ability. Therefore they can command an annual salary of around INR 4-7 lacs in India.
2. Information Science
In addition, your data analytics salary in India may vary from INR 7 to 19 lacs annually depending on your level of knowledge and experience with big data and data science.
3. SAS and SPSS
Experts in SAS (Statistical Analysis System) data analysis make an average yearly pay of INR 5.3 lacs. In contrast, experts in SPSS (Statistical Package for Social Science) data analysis make about INR 19.6 lakhs.
4. Machine learning
A data analytics salary in India trained in machine learning can be up to INR 12 lakhs a year. Thus, a data analyst might become one of the highest-earning people in this industry by learning Python and machine learning.
Abilities of a Data Analyst
In addition to this, one needs a variety of abilities to become an experienced Data Analyst. Among them are:
1. Strong Domain Knowledge
Data analytics-related skills solve problems. The variables in a firm and the external and internal aspects that could impact its growth must be identified by a data analyst. Since business awareness directly affects a data analyst’s pay. It is the most important talent needed to become one.
2. Mathematics and Statistics
Statistics and maths use historical data to help you identify trends, organize items, and forecast future events. To get the best answers, rely on methods of prediction, classification, and grouping. This is where mathematics and statistics come in very handy.
3. Technical Proficiency
Many more advanced organizations still address difficulties by applying math skills and understanding the area. They work with enormous volumes of data that are beyond mathematical capabilities. It is essential to master tools like R, Python, SQL, and others. With the aid of these tools, you may deal with big data and provide solutions that have greater reach.
4. Soft Skills
One last essential data analytics talent is the ability to communicate your answer to non-technical folks. This makes soft skills and communication important. It’s crucial to use helpful representations and technologies like Tableau, QlikView, and others in your communication. It makes it easier for people to understand your conclusions and ideas.
Data Analytics Salary in India
In the IT business, becoming a data analyst has become one of the most desired career paths. One of the top-paying jobs. Companies collect vast amounts of data every day. Provides specialists have a wide range of employment options. The average pay for a data analyst in India is ₹4,64,928 per year, according to PayScale.
Data Analytics Salary in India: Factors Affecting
In India, the starting pay for a data analyst varies depending on location. Some of the most essential factors that are considered into account when hiring data analysts are as follows:
1. Based on Experience
One of the most important criteria that determines the ultimate salary is experience. Working in the field increases one’s breadth of knowledge, working flexibility, and leadership abilities. Data analysts will be paid more if they have worked in the field for more than three years.
PayScale reports depending on experience:
Entry Level: ₹3,56,363 per annum (less than one year of experience).
Early Career: ₹5,20,000 per year (1-4 years of experience).
Mid-career: ₹8,50,000 per annum (5–9 years of experience).
₹9,94,031 to ₹14,00,000 p.a. for experienced (>10 years of experience).
2. Based on Skills
If a data analyst lacks the necessary experience to land a high-paying position, they might still bargain for compensation based only on their qualifications. Therefore, rather than just earning a degree, upskilling is crucial to securing a decent professional opportunity.
3. Based on Location
Another element that directly influences the salary scale is location. It primarily depends on the demand for the profession. Also the cost of living in a certain location. Thus, a newly hired data analyst in Mumbai may make the same as someone with three to four years of experience in Kolkata.
4. Based on Industry
When recruiting a Data Analyst, many businesses and employers from various industries have distinct needs. Thus, it seems sense that the role, the company’s standing in the market, and the necessary talents would have an impact on the wage.
Future Scope as Data Analyst in India
Companies need to make sure that their information doesn’t become outdated. This calls for ongoing learning, awareness, and comprehension of huge amounts of data. Advanced analytics specialists are essential when it comes to modifying an organization’s business strategies.
In India, a wide range of industries use data analytics. Therefore, there are a tonne of opportunities for Data Analysts. Companies like JPMorgan, Microsoft, Wipro, Adobe, Accenture, Flipkart, AIG, Vodafone, and Deloitte.
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Conclusion
You have read great details regarding data analysts’ roles within organizations, their compensation ranges based on a variety of parameters, and more in this blog post titled “Data Analytics Salary in India in 2024.” Therefore to become an expert you must enroll in Henry Harvin’s online course for Data Analysts right away if you want to work in this field and earn a good salary as a successful Data Analyst. With the help of this course, you can start from the beginning and in a matter of months become an expert in the field.
Recommended Reads
- Top 20 Data Analysis Tools For 2024
- Top 10 SAP Courses – Duration and SAP Course Fees
- 10 Analytical Skills Necessary for a Successful Career in Data Science
- What Does A Data Analyst DO?
- Data Scientist vs Data Analyst vs Data Engineer: Role, Skills
Frequently Asked Questions
Q1. What is the salary range for beginner data analysts?
Ans. A data analyst at the starting level makes about Rs. 6.5 LPA. Their sector and years of residency, for example, have an impact on their earnings.
Q2. How can someone effectively negotiate better entry-level payment in data analytics?
Ans. Your market worth is determined by comparing your salary to that of others in similar positions within the same firms or industries. You should try to explain to your employer why you should be paid more.
Q3. How likely is a pay increase in data analytics in the upcoming five years?
Ans. More than 80% of businesses surveyed for the World Economic Forum’s Future of Jobs report stated they will be using big data by 2025. Thus reflecting the growing trend of businesses using big data analytics. According to the same estimate, data analysts will have the highest number of employment across all industries in the upcoming years.
Q4. Is the field of data analytics profitable?
Ans. Data analytics jobs offer high incomes and many paths to employment because the field offers a wide range of options across organisational levels and industries.
Q5. Cities that offer the highest salary to data analysts.
Ans. Major metropolitan cities like Mumbai, Bengaluru, Hyderabad, and Delhi, offer higher salaries for data analysts compared to other cities.
