Analytics professionals in Mumbai are paid up to 11.49 lakhs which makes Mumbai the highest followed by Bangalore with an average salary of 11.34 lakhs, as observed by the recent Analytics Placement and Salary Report 2013 shared by Jigsaw Academy and Analytics India Magazine.
In Mumbai, a majority of the people surveyed fall under the salaried segment 6-15 Lakhs (40%) while only 7% of those surveyed are paid more than 25 lakhs.
The survey also shows a comparison of average salaries by years of experience across 4 different types of analytics organizations, like Knowledge Process Outsourcers (KPO), IT companies, In-house unite and Niche Analytics Company. It has been observed that KPOs industry offers the highest average salaries of approximately Rs. 5.6 lakhs at entry level positions when compared to other different types of analytics organizations.
The report is for both aspirants and analytics professionals and employers alike. According to the report there has been a remarkable increase in the demand for Analytics Professions and Data Scientist. There has been an increase in the number of students and professionals eager to gain analytic skills.
Commenting on the findings of the survey, Gaurav Vohra, CEO, Jigsaw Academy said “We spent a lot of our time working with students and professionals who are looking to build a career in the field of business analytics. Students are curious to know about the companies which pay the most, or the least, if the pay scale increases with the years of experience in the analytics industry.
Is it better to join a niche analytics company or large IT Company? These are some of the common queries students generally have. Therefore we decided to create a comprehensive guide to analytics salaries in India, which would help both potential employers and employees in the field of analytics.”
Speaking on the survey, Bhasker Gupta, Founder of Analytics India Magazine (AIM) said “In India the common domains that Indian companies served in analytics were retail, BFSI and utility (telecom, energy, oil) who emphasized the importance of these skills in the recruitment process itself. Consequently Business Schools realizing the importance of empowering their graduates with these skills have begun to introduce.
We collaborated with Jigsaw and have presented a report across 4 different experience groups which vary from 0 to 10+ years as well as across 4 different types of analytics organizations as we realized to bring more deep analysis to measure the state of health of the industry.”
Key Findings in the report:
Analytics Placement report
India will remain the preferred destination for analytics outsourcing as compared to other Asian countries like Phillipines and China. Unlike the BPOs, analytics (considered a part of KPO) requires skills that are not easily available in these countries.
India’s analytics talent pool will be in high demand because of their process expertise and English language proficiency.
Web analytics, social media analytics to witness a shortage of trained professionals
Indian analytics service providers will be challenged into providing services like model development, consulting and proprietary IP based services.
Analytics Salary Report:
1. Analytics Organization salary comparison:
According to the study the average salaries were collected and compared across various organizations
KPOs are the most financially attractive option to enter into analytics and are most favored destination as it allows one to work on 4 different clients and 2 different industries on an average in two or more years.
IT companies are trying to emulate the business model of the KPOs and offer attractive entry level salaries in a bid to lure the best analytic talent from engineering colleges and b-schools, by offering Rs. 5.5 lakhs at the entry level salaries and director level salaries averaging at Rs. 23 lakhs.
As Captive units are confined to their own business / industry, there is no opportunity of working on and gaining exposure in other different industries, which is the reason for captive unit to offer the highest salaries so as to retain the people. Salaries at mid level, manager level and director level are the highest in captive units ranging from 10 lakhs, 22 lakhs and 26 lakhs respectively.
The quality of work in Niche analytics companies can be very high with abundant of growth opportunities. As they provide a varied and challenging work, they offer the lowest salaries among the four different types of organizations. Salaries average at 4.5 lakhs at entry level and go up to 16 lakhs for director level (10+ years of experience).
2. City based salary comparison:
According to the study the average salaries were collected and compared for various cities in India.
Average salary in for an analytics professional in India is Rs. 10.35 lakhs.
The survey revealed that Mumbai has the highest salary amongst all cities at Rs. 11.49 lakhs and Bangalore comes a close second at Rs. 11.34 lakhs.
The average salaries for analytics professionals in Mumbai across experience levels are 11.5 lakhs per annum.
60% of the analytics professionals earn over Rs. 6 lakhs per annum and 20% earn over 15 lakhs per annum.
This report was compiled to cater to the need of massive increase in the demand of Analytics professionals and Data Scientists in 2012 as the corporate world also took immense stride in integrating analytics within all layers of their business.
India will remain to be a preferred outsourcing destination for IT and ITeS services due to the highly talented workforce, lower costs and operational efficiencies among others. Also, Data Analytics and Big Data will continue to dominate market talk as data generated grows and data needs evolve.
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