Bangalore: Analytics is buzz word of the job market in the current environment. In a comprehensive research carried out by Analytics India Magazine and AnalytixLabs, a key finding denotes that there has been a 22% increase in the average salaries of analytics professionals in India since the last year. The Analytics India Salary Study 2017, suggests that for the year 2017, the average salary has been INR 11.7 Lacs across all experience levels and skill sets in comparison to INR 9.5 Lacs in 2016.
The study suggests an increased demand for senior professionals, thus pushing the average salaries higher than the last year. The percentage of analytics professionals with salaries in higher bracket of INR 50+ Lacs has significantly increased to 3.7% from just 1.1% a year ago.
While the percentage of analytics professionals commanding salaries of less than INR 10 Lacs has gone lower; the percentage of analytics professionals earning more than INR 15 Lacs has increased from 33% in 2016 to 37% in 2017.
Another interesting finding of the study suggests that on an average, analytics professionals receive 30% higher salaries than IT professionals in India. While the average salary of analytics professionals is INR 11.7 Lacs, that of IT professionals is INR 8.65 Lacs.
Areas like Advanced Analytics and Predictive Modelling fetch higher salaries, amounting to INR 14.7 Lacs compared to others such as Big Data and Data Mining professionals.
Amongst the tools, it was Hadoop and Qlikview that ruled the game. Hadoop professionals seek INR 12 Lacs, which is a 12% increase since last year. Whereas Qlikview professionals command INR 12.1 Lacs.
City-wise, there has been an interesting observation suggesting an average increase of 20% in salaries of analytics professionals across all cities. While Pune saw the highest increase in analytics salaries by almost 30%, Mumbai retains its spot for paying highest salaries, amounting to INR 14 Lacs per annum.
At entry level, the salary structure saw a 61% jump from INR 4.1 Lacs to INR 6.6 Lacs on an average. The study also suggests that a transition to senior analytics leaders, with more than 12 years of experience, can lead to almost 50% increase in salaries.
Coming to the salary trend across company types, Captive Analytics centres tend to be highest salary providers followed by consulting firms, domestic firms and boutique analytics firms.
Bhasker Gupta, CEO and Founder, Analytics India Magazine noted, “In today’s scenario where data crunching has become bigger than ever, the need for data professionals and opportunities in various domains has increased manifold.”
“The study is a result of long months of research and provides an extensive insight of salaries in analytics industry, covering at length and breadth, the salary trends across various tools and skills, cities, experience level, company type and its comparison with other domains. It is a must read for analytics professionals and those willing to make a plunge into this industry,” he added.
Sumeet Bansal, CEO and Co-founder, AnalytixLabs commented, “In the last one year, we have once again seen a shift in the analytics trends. Popularity of analytics jobs is at a peak-high now but there has also been a shift in the requirement of skills and their usage.”
He further added, “Apart from the salary trends, our last year’s salary report included a discussion on Emerging Job Roles in the Analytics Industry, a topic that many found useful. This year, we again try to answer a frequently asked question – Comparison of analytics salaries vis-à-vis other knowledge-based roles, like Primary research, Secondary research, Financial Research and Information Technology.”
Overall, the study, indicates a heads-up for the professionals in this industry and fuels a hope for others to make a career in analytics domain.