Data Analyst Salary In India
Introduction
The total amount of data created, recorded, copied, and consumed worldwide is almost immeasurable. The volume of data created and reproduced has reached a new high. Global data generation would exceed 180 zettabytes during the next five years, up to 2025. The increase was greater than projected due to the increasing demand created by the COVID-19 pandemic. More people have switched to a work-from-home model and are using entertainment and online shopping modes more frequently, creating massive volumes of data with their digital footprints.
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This massive growth of data has made data analyst jobs among the most in-demand jobs across the world. The data analyst salary has grown significantly than that of other software-related specialists.
Data Analysts are being hired by all organizations today to help them make sense of the increasing volume and variety of data they generate and gather. Getting actionable answers from data has become a critical business skill. All types of businesses collect big data to use it to make or improve decisions. Businesses use data analyst job roles in industries as diverse as B2B and B2C commerce, health care, manufacturing, and marketing to improve processes and increase profitability.
Thus, if you have the necessary skill set and want to make a rewarding career as a Data Analyst, this blog will help you. This assertion is exceptionally accurate when we consider that the data analyst salary for freshers or experienced individuals is directly or indirectly related to how upskilled and updated the employees are.
Data Analyst Job Roles and Responsibilities
Let's begin with the data analyst job roles and responsibilities. A data analyst has the expertise and abilities to transform raw data into intelligent insights that can be used to make business decisions. Data analyst roles and responsibilities include:
- Using automated data extraction techniques to extract information from primary and secondary sources
- Data cleaning, that is, removing corrupted data and repairing code errors
- Managing databases and data systems, as well as restructuring data in a manageable format
- Analyzing data to identify its quality and value
- Using statistical methods to detect, analyze, and interpret patterns and trends in large data sets, which can help in the more accurate diagnosis and prediction
- Assigning numerical values to critical business functions to assess and compare business performance over time
- To identify and analyze local, national, and worldwide trends that affect both the company and the industry.
- To make reports for management that include trends, patterns, and projections based on relevant data.
Key Skills for Successful Data Analyst Job Roles
The salary of a data analyst depends on the skills possessed by a data analyst. Let's discuss them in detail-
- Strong mathematical skills to aid in the collection, evaluation, arrangement, and analysis of data
- Technical knowledge in database design, data models, and data mining
- An experience with reporting tools such as Business Objects, programming (JavaScript, XML, or ETL frameworks), and databases
- Proficiency in statistics and statistical software such as Excel, SPSS, and SAS for data set analysis
- Expertise in data processing platforms such as Hadoop and Apache Spark
- Understanding of data visualization applications such as Tableau and Qlik
- Understanding of how to design and apply the most precise algorithms to datasets to solve business problems
- Understanding of coding languages like Python
- Expert at conducting research, writing papers, and delivering presentations
- Teamwork abilities, as well as verbal and written communication abilities
Data Analyst Salary
1. Entry-Level Salary of a Data Analyst
The average salary of a data analyst in India is Rs. 6,98,412. The entry-level salary with less than a year of experience can be around Rs. 5,00,000 per year. Data scientists with 1 to 4 years of experience can expect to make around Rs. 6,10,811 per year.
2. Salary of a Mid-level Data Analyst
Their experience determines the salary of a data analyst at the mid-level. Experience demonstrates broader knowledge, practical solutions, agile functioning, and leadership abilities to instruct others. As a result, an analyst who has been in the profession for more than three years will be paid more than a data analyst who is new to the job.
3. Experienced Data Analyst Salary
According to Glassdoor, with experience of 3-4 years in the industry, the average pay for Data Analytics increases to Rs. 7,25,344 annually.
Data Analyst Average Salary
Data analytics has become a popular job not only in India but throughout the world. In India, the data analyst average salary is substantially higher than in most other careers. A data analyst commonly earns between Rs. 4,50,000 and Rs. 5,50,000, whereas the average Data Analytics salary hovers around Rs. 4,39,260. In addition, an annual bonus stands at roughly Rs. 10k – Rs. 197k and commissions at Rs. 2k – Rs. 102k. 78% of specialists in Data Analyst job roles have entry-level salaries as high as six lakhs- which is a fantastic indicator of the growing data analytics industry with a growth in the number of freshers who choose a career in data analysis in India.
To summarize, data analyst salary based on experience is as follows:
- Entry Level (more than one year of experience) - Rs. 3,50,000 per year
- Early Career (1-4 years of experience) – Rs. 4,20,000 per year
- Mid-Career (5-9 years of experience) – 7,00,000 per year
- Experienced (more than ten years of experience) - 9,50,000-18,00,000 per year
Factors Influencing Data Analyst Salary in India
Multiple factors govern data Analyst salaries in India. Among these, the most important ones include:
1. Education
Obtaining a Bachelor's degree is a must for any prospective data analyst. The degree can be in Computer Science, Math, Statistics, or any other related discipline. A master's degree or a Ph.D. is required for a senior-level mid-level or analyst. A data science career aspirant must be qualified in data mining, data modeling. Besides, the chosen degree must-have specialties in the following areas:
- Statistical Modeling: A quantitative analyst who specializes in statistical modeling.
- Evidence-Based Modeling: Teaches students how to apply advanced analytics to minimize decision-making ambiguity.
- Informational Design: Extends and enhances knowledge of management, standardized data flow, and data reporting.
2. Job Roles
Applying for data scientist roles rather than data analyst roles could result in a $50,000 difference in salary. Data Analytics and Data Science are buzzwords for a lucrative career. Big data, data modeling, and data science professions have long been a safe option for data science experts searching for long-term career opportunities. This trend is expected to continue as AI and Machine Learning become more incorporated into our daily lives and the economy.
3. Experience Level
When it comes to hiring data analysts, a candidate's level of experience is vital. India's entry-level data analyst salary with less than one year of experience is $340,000. India's junior data analyst salary with one to four years of experience is $420,000 on average. On the other hand, if you have 5+ years of expertise, you may be hired for managerial or senior analytics roles. In India, senior data analyst salaries range from Rs 6.5 lacs to Rs 20 lacs, depending on your experience. The various levels of experience gained by data analysts throughout their career paths are discussed here.
- Average Overall Data Analyst → $61,754
- Average Entry-Level Data Analyst → $56,383 (1 year)
- Average Early-Career Data Analyst → $61,179 (1–4 years)
- Average Mid-Career Data Analyst → $69,251 (5–9 years)
- Average Experienced Data Analyst → $71,512 (10–19 years)
4. Industry
The salary differences depend on the industry’s demand. Also, it depends on where the analyst works. Insurance, finance, healthcare, IT, and professional services are top and popular sectors that offer good salaries for data analysts. Here are the tips that will help you land your dream data analyst job.
5. Location
The palace of work is critical when determining the salary of a data analyst in India. Working in locations with a concentration of elite data science expertise and strong tech businesses, such as Bengaluru, Mumbai, and Delhi, has a distinct edge. The most obvious choice for a satisfying and lucrative data science career is Bengaluru, India's Silicon Valley, home to the biggest names in the industry like Flipkart, Amazon, Myntra, and other early-stage data science start-ups.
6. Company
Not every firm will offer you a higher salary. Some global corporations, on the other hand, pay well. We've compiled a list of some of the best tech companies that provide the lowest, average, and highest data analyst salaries:
7. Skills
Different skills can affect Data Analyst Salary In India. Below are the most popular skills and their impact on Data Analyst Job Roles and Salary Of Data Analyst.
How to Boost Data Analytics Salary
If you want to increase your data analyst salary, you can do so in various ways, including choosing a growing industry. Here are some other techniques for improving your employability in a data analytics career-
1. Expand Your Skill Set
You may significantly boost your Data Analyst Average salary by learning new tools such as Spark and Scala, D3, cloud computing software such as Amazon Web Services, and open-source tools. MapReduce (average pay of $115,907), PIG ($114,474), machine learning ($112,732), Apache Hive ($112,732), and Apache Hadoop ($110,562) are the most valued analytical skills, according to IBM.
2. Choose the Location suited to your Job
Jobs in metropolitan areas typically pay the most. When it comes to hiring new employees, most businesses compare their Data Analytics salaries to their competitors. Consider state taxes and the cost of living in the areas you evaluate when deciding whether to relocate. Some remote professions may pay less, but the freedom of working from home in a less expensive city or country may make it a more appealing proposition.
3. Earn Experience
According to IBM, 81% of Data Analyst job roles require three to five years of experience. You can complement your skill-set by working on freelancing projects on Upwork and Kaggle, to name a few. With this additional experience, you may be able to enter at a more senior or managerial level, boosting your data analyst role and your base data analyst salary.
4. Negotiate Your Data Analyst Job Offer
It is generally advantageous to cast a wide net to collect many offers when applying for a data analyst career. Then you can use your payment data as leverage to negotiate a higher salary at your chosen company.
When comparing offers and considering your negotiating power, be sure to consider the entire package given by each firm, including perks, bonuses, and benefits, as well as career routes, mentorship, and cultural fit.
5. Pursue a New Degree or Certification
According to IBM, only 6% of data analyst job listings require a master's degree or higher, whereas 39% of data scientist and advanced analytics job postings require graduate-level education. Various data science courses broaden your skill-set through online courses and boot camps like the Learning Path in Data Science certification.
Conclusion
The demand for data analysts continues to be expanding exponentially in India and around the world, owing to the ever-increasing amount of data available online and the competitive market. Companies sense a competitive advantage from vast volumes of data created by enterprises and the restricted means to extract and evaluate it to gain relevant insights. This demand will only grow as our global reliance on data grows.
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