The Bigger Your Analytics Tool Kit, the Better Your Pay
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If you are a regular reader of our analyticstraining.com blog, you would have read an article not so long ago entitled Essential Tools One Must Know to Be a Data Analyst. In brief, the tools that data analysts must be proficient in, so as to woo recruiters are:
Jigsaw Academy’s recently published ANALYTICS & BIG DATA SALARY REPORT 2016 in partnership with Analytics Vidhya, offers some interesting insights into the data analytics scene in India, particularly for those of you eager to build a career in the data industry. The report touches quite extensively on the subject of analytic skill sets and brings out a critical insights for those looking to make a career in the data industry. Essentially, the more analytic tools you know, the better your career growth and pay packet.
If you are wondering why, let me explain why a familiarity with a range of diverse analytics tools spells success in the data industry. The fact is that businesses today rely on a combination of tools and technologies to get the kind of data analysis that is truly transformative. What they want is people who can work seamlessly across varied tools and technologies. These smart, savvy, inter-disciplinary data wizards are the data leaders of the future.
Not only is it essential for them to have an integrated analytics skill set, they need to be business savvy, collaborative, curious, and on a constant quest for new knowledge. They need to be able to lead the company from the front when the time is right, making sound data backed decisions along the way that take the organization successfully forward.
So let’s give you a quick synopsis of what the report says about skills and salaries:
The bigger your analytic skill set, the higher your salary
The report brought out the importance of cultivating a knowledge of more than one tool, if one wants to further one’s career. The more industry-relevant tools you know, the bigger the salary you get. In fact the highest salaries are paid to analysts who are versed in multiple tools, that definitely include R and Python.
The report goes on to state that the highest recorded salary for 2015 – 2016 is 12.75 lakhs p.a. for analysts with a combined knowledge of SPSS + SAS + R + Python.
R is one of the most widely used tools in the industry and the best paid
One of the reports many significant findings was that R is one of the most widely used tools in the industry and the best paid. In fact individuals skilled in R can earn the highest salaries in data science of upto 10.2 lakhs.
Start ups pay the biggest salaries
The report also states that analytics startups are primarily looking for people who know R, and are willing to pay top dollar for it, often as much as 10.8 lakhs p.a. This is significantly more than the average of 9.6 lakhs p.a that larger companies are paying. Even mid-sized companies offer better pay packages to R-skilled employees than their larger peers. However, if you’re keen on joining a larger company, you absolutely need to add SAS to your skill set. This is because bigger companies can afford to pay for the more expensive enterprise versions of proprietary software like SAS.
Itching to explore these findings and others in greater depth, and eager to discover what the Analytics & Big Data Salary Report 2016 has in store for you? Download the report or watch this space for further insights and juicy tidbits, over the next couple of days.