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Analytics professionals in India obtain a 250% hike in their salaries from entry level analysts to manager; the average entry level salaries have increased by 27% since 2013, from Rs. 5.2 lakhs to Rs 6.6 lakhs per annum, according to the Annual Analytics Salary Report – 2014, shared by Jigsaw Academy – The Online School of Analytics.
The report states that cities like Bangalore and Delhi/NCR continue to be the hubs for Analytics companies in India. Mumbai continues to offer the highest salaries because of its high cost of living, Bangalore and Delhi/ NCR are the hubs for analytics jobs. They have the highest number of analytics companies and analytics jobs with salaries in the range of Rs 11 lakhs. Analytics salaries in Hyderabad and Pune are 20% lower in comparison to larger metro cities. The average analytics salary in India is 11.1 lakhs.
In addition, the type of company worked for, the city lived in and the analytic tools worked on, can impact remuneration considerably. Compensation at captive centers, which deal with locked-in clients for longer time periods typically offer higher salaries for analysts. Niche service providers who move analysts across multiple industries and clients offer lower salaries, but give the analyst a richer resume opportunity.
Commenting on the findings of the survey, Gaurav Vohra, CEO, Jigsaw Academy – The Online School of Analytics said, “The Data Analytics and Big Data buzz has far from died down and the demand for trained analytics and big data professionals is increasing at a tremendous rate. Though many say Big Data is just hype, the reality is that companies are investing big time in Big Data initiatives and are willing to pay big bucks for the right talent. In India, Big Data is just about picking up. Companies especially in the ?nance, retail and e-commerce sectors are relying more heavily on big data to make decisions that impact their sales, operations and workforce. There is such a dearth of Big Data talent that these companies are willing to pay high salaries for the right skill set”.
The year 2013 saw a signi?cant rise in Data Analytics and Big Data initiatives across all sectors in India. Finance, telecom, ecommerce and retail sectors showed higher investments in data related tools and technologies. Industries like healthcare, auto and manufacturing also increased their data related spend and Hiring picked up considerably.
Key Findings in the report:
Predictions for the Analytics Industry in 2014:
Key characteristics of the Big Data Industry in India are:
Analytics Salary Report:
Analytics Organization salary comparison:
Captive centers pay higher salaries in general. In a captive center, you are tied in to one particular industry with limited scope to broaden your expertise in other domains. As there is little variety, the work could get monotonous, and hence the high salaries to keep motivation high.
Among the captives (such as BFSI, ecommerce and retail), BFSI offers the highest salaries. Since they know the value that analytics brings to their business, they con?dently invest more in analytics and are happy to pay higher salaries to retain their analytics talent.
Ecommerce companies are the new entrants. They are building their analytics capabilities and in a bid to get the right analytics talent, are willing to offer good salaries.
Role and Years of Experience:
The data analytics industry in India is all ?red up. As the year progresses, the country will continue to see a lot more data analytics start ups raise huge sums of money, big corporates will consolidate their data operations and multinationals will set up more data centers in India. The analytics job market will be more potent than it ever was.
The report suggests that we will see a huge no of professionals from other sectors honing their analytics skills and switching careers. It also goes on to predict that 15 years from now, we predict that those professionals with no analytics and big data skills will have no scope for growth