The Analytics and Big Data Salary Report 2016 for the Indian Market is here!!
With companies now realizing that Analytics & Big Data are the key drivers for their organizations growth, the demand for data scientists has risen phenomenally. From understanding consumer behaviour, to predicting market trends, even right down to product features, many business decisions today are driven by Data Analytics. The Analytics and Big Data sector has seen a consistent growth in the last five years and is expected to further grow at a CAGR of 33.2% and 26.4% respectively, almost six to eight times that of the overall IT sector.
To give you more insights and updates on this booming sector we at Jigsaw Academy, in association with Analytics Vidhya have published the Analytics and Big Data Salary report 2016, for the Indian market. The report’s findings were based on information collected from 60,000+ analytics professionals with advanced Analytics / Data Science skills. It is a comprehensive analysis of the industry, including hiring trends and includes some interesting numbers and statistics about jobs in this sector. According to the report, analysts experience the biggest jump in salaries once they have clocked 5 years in the industry, and can expect a raise of up to 70% with an average pay of Rs.12.3 lakhs p.a.
Key Highlights of the report:
- Kolkata seems to be a clear winner for analysts, earnings-wise, when their salaries are adjusted to the cost of living. They enjoy a better quality of life here than in other cities. The average pay for analysts in Kolkata is projected to be Rs.9.35 lakhs per annum
- Unlike large companies, which pay around 9.6 lakhs, Indian startups are willing to pay over Rs.10.8 lakhs per annum to attract the best talent in the analytics industry
- Companies today are looking for employees who have knowledge of multiple tools. The highest recorded salary for 2015-2016 is Rs.12.75 lakhs p.a., the recipients of which are analysts with knowledge of more than one of these tools–SPSS, SAS, R & Python
- Companies are keen to hire individuals with business acumen and experience, which means that an MBA alone won’t cut it. Candidates are also expected to know analytics to successfully land analytics/Big Data jobs
- R remains the front-runner in the analytics race with salary packages of Rs.10.2lakhs per annum. Python, however, is hot on its heels
- Analysts who have Big Data and Data Science skillsets are paid 26% more than analysts with a knowledge of just data science or Big Data
- Startups seem to be cashing in on professionals with R & SQL skills whereas larger organizations still seem to favour SAS, since they can afford to buy expensive proprietary software
Methodology used for study
The data points include people who came into contact with Analytics Vidhya through their website, job platform, hiring competitions and other sources. This number also includes, but is not limited to, people applying for jobs on the Analytics Vidhya website, confidential searches, hackathons, and tie-ups with skill-enhancement partners.
People with only advanced analytics / data science skills were considered for the study. For example, people who were only experienced in MIS have been excluded from the study. Once filtered, the skill sets of the survey participants were appropriately categorized in order to gain insights into the data.
The findings are open to biases arising from the nature of the jobs/ competitions hosted on Analytics Vidhya’s website. However we believe that even with this bias, this first-of-its-kind study of the Indian Analytics industry and the thousands of analytics professionals it employs, reveals many fascinating ground realities.
To gain all the insights, you can view the full report here.