Analytics is a high growth field and salaries in analytics have been sky rocketing in the last few years. There is a strong demand for “data-savvy” professionals in the industry today. As per a recent McKinsey research report, the US alone faces a shortage of 140000 to 190000 people with “deep analytical skills” as well as a million and half data-savvy managers and analysts who can deal with big data.
India ranked 3rd in the study – in terms of number of people available with analytical skills – behind the US and China. Yet India has emerged as the global hub for analytics. This is because India has a steady supply of English-speaking analytical talent.
Salaries in analytic in India have sky rocketed in the last 5 to 8 years. In 2005, a company would hire a graduate or a post-graduate at an entry level position of analyst for about Rs 1.8 lacs per annum. In 2011, campus salaries for analytic roles have been reported at around Rs. 6 lacs going as high as Rs. 12 lacs for premium colleges.
A Senior business analyst with 3 to 5 years of experience would get anywhere between Rs. 8 to 12 lacs per annum. A Team leader or a lead analyst with 5 to 10 years of experience would be making between 10 to 14 lacs.
As you can see, the salary growth in this field is fairly steep. This is because the demand for experienced professionals is high and growing fast.
By the time a person gets to the analytics manager role, they usually have close to 10 years of experience and would be commanding a salary in the range of Rs. 12 to 20 lacs.
Campus recruitment in analytics
Often times, analytics companies recruit students in large numbers from various colleges. Initially the trend was to recruit from colleges like ISIs(Indian Statistical Institutes). However, now companies are increasingly going after MBA graduates. Colleges like Goa Institute of Management have become a hot bed for analytics recruitment.
HP’s global analytics team offered salaries of Rs 7.5 lacs for freshers and between 8 to 8.5 lacs for experienced resources. Infosys made a similar offer as well. JP Morgan Chase offered 8.5 lacs while companies like Accenture and e-clerx offered packages of Rs. 8 lacs.
Captive vs. Non-captive centres
Captive centres are those that are dedicated to a particular company. For example, those working for HSBC analytics or Dell analytics will work exclusively on the HSBC or Dell business. On the other hand, an analyst working in an analytics service company such as Genpact or Marketelligent is likely to work across multiple businesses and clients. The latter work tends to be looked upon as more rewarding since it is more varied in scope. To make up for this, captive centres usually offer slightly higher salaries than non-captives.
Salaries in analytics in Bangalore vs. Gurgaon vs. Chennai vs. Kolkata
Salaries across major cities like Bangalore, Gurgaon, Chennai and Kolkata are fairly consistent and differ largely due to cost of living differences. Kolkata has a lot of analytic talent and it is not an expensive city to live in. Hence salaries are a little lower here compared to other cities.
How will salaries in analytics be in the next 5 years?
The dependence of business on data savvy professionals is expected to continue to sky rocket in the coming years. There is a shift in demand from pure statistical talent to professionals who can apply analytics in the context of a business problem and thus a shift from statisticians and mathematicians to data savvy professionals who also understand the business.
- The starting salaries in analytics are expected to grow at 10 to 20% per annum at least for the next 5 years.
- Professionals in the analytics industry can expect annual pay hikes of about 15% every year.
- Promotions in analytics tend to be largely merit-driven.
- Average time to promotion is 18 to 24 months at the lower levels and 2 to 5 years as you move up the hierarchy.
I would love to hear from professionals in the field, what they feel about salaries in analytics.
Dell offers up to 10 lacs at 2-4 year experience level in the analytics team. I have heard this is significantly higher than what they offer in Operations.
Salaries in analytics are always higher than Operations/BPO/IT. MuSigma offers up to 8 lakhs at entry level.
I have did Btech in Electronics & Communication and worked in telecom sector for last 3yrs and now want to switch to analytic is it possible for me after taking SAS Training and will be treated as fresher . Is Fresher are welcomed from mine background and after diff sector exp. Please response over mine query will be awaited.
Hi Sudipto,
You can surely make a career shift into analytics. Since analytics requires a high degree of quantitative skills, an engineering background helps in succeeding in this field.
There are multiple skill components required in the field of analytics.
1. Basic Statistics – required to summarize, visualize and analyze data
2. Analytic techniques – for descriptive and predictive modeling
3. Analytic tools like SAS, Excel and others
4. Soft skills – specific to analytics
Our Foundation course is designed for those looking to build a career in the field of analytics and covers all of these components.
Foundation course in Analytics
• Program Duration: 12 weeks, 105 hours
• Class Room Sessions: 55 hours
• Lab Sessions: 50 hours
• Program Start Date: 12th November
• Class Timing: Saturday , Sunday 3 hours each
• Location: Virtual classroom
• Program Fee: Rs. 30000
Certification: Participants will be awarded a certificate in Business Analytics on successful completion of the stipulated requirements.
Location: Jigsaw Academy offers its courses in a remote training environment. This means that you can participate in our class-room sessions taken by industry experts from anywhere with an internet connection. You will also be provided access to data sets, case studies and analytics software remotely through internet. You can take our trainings anywhere around the globe as long as you have access to an internet connection.
Placements: Jigsaw Academy has an extensive Industry Network to facilitate Placements for its students. Our students are working with some of the leading analytic companies like Genpact, Pharmarc, Accenture, Dell, HDFC and others.
Testimonials: To read what our students have to say about us, visit http://www.jigsawacademy.in/why-jigsaw/testimonials.html
Careers in analytics: To learn more about a career in analytics, visit our blog – http://blog.jigsawacademy.in/category/career-in-analytics/
You can view the course details here.
Thanks for the insight. It birgns light into the dark!
I am M.A. in English and Working in a company for Last 4 and half years as a Database Analyst.
I want to switch my field in analysts?
Am I eligible to do the course?
Please reply ASAP
HI Niladri,
Please see your inbox for more information.
Regards,
Jigsaw Team
Hi,
I am an Accountancy Hons. Graduate from Calcutta University post which I did my post graduation in Financial Planning from International College of financial Planning ( ICOFP). I have got around 4.5 years of experience into Wealth Management and I have worked with Companies like HSBC & Citi. I wish to pursue analytics as a career but I am not sure whether I have the right profile to do so as my work experience has totally been into Business Development in the Investment Banking/Wealth Management space. Will be a great help if yo can kindky revert on this.
Regards,
Sayan Chattopadhyay
Hi Sayan,
Please see your inbox for information regarding our Analytics training.
Regards,
Jigsaw Team
Hi .
I did MBA(Finance/Marketing), I dont know on which specialization it will be useful to join in analytics ie in finance or Marketing … please help me out in this .. waiting for your reply….
And I am interested in joining in SAS training..
Hi, I have around 8+ years experience in IT development in BFSI domain. I realyy keen on interest to change career to analytics. Could you please advice me, is the right time to switch the career?
Cheers,
Veeresh