Salaries of Analytics Professionals Grew by 14.3 Percent Since Last Year
According to the sixth edition of the annual study report by Analytics India Magazine and Jigsaw Academy titled “Analytics India Salary Study 2020- By AIM and Jigsaw Academy,” the salaries in the mid-senior and senior-level have registered the highest median figure over the last 4 years.
This is the sixth edition of this report and is the only annual study in India that delves into salary trends and provides a comprehensive view of the changing landscape of analytics salaries.
This extensive report in collaboration with Jigsaw Academy is focussed at the distribution of average salaries across several categories including, years of experience, metropolitan regions, industries, education levels, gender, tools, and skills.
The study revealed that the past year has been an effective growth year for the Data Science and Analytics domain, with an increase in the median salary in the analytics function and a corresponding increase in salaries and the proportion of professionals in the upper experience cadre.
In terms of salary distribution across various brackets, there has been a shift to an established analytics market that commands higher salaries with 45.4% of all the analytics professionals fall under the higher income level.
In terms of salary trends across cities, Mumbai emerges as the destination for highest salaries for analytics employees at INR 15.6 Lakhs per annum as median salary, followed by Bengaluru at INR 14.7 Lakhs.
The study has also revealed that the median salary of INR 14.4 Lakhs, professionals commanded a salary 14.3% greater than that received the previous year, and the highest median salary commanded since this salary study began in 2015.
Commenting on the report, Founder & CEO of Analytics India Magazine, Bhasker Gupta said, “The Data Science and Analytics domain has been experiencing significant growth as organisations have been adopting these techniques extensively to draw meaningful insights. Witnessing the hikes in the salaries of analytics professionals across the organisations, the demand for analytics professionals will continue to grow in the coming years.”
Gaurav Vohra, CEO & Co-Founder of Jigsaw Academy said, “Data science continues to be an attractive career option for fresh graduates as well as experienced professionals. We are witnessing a very high demand for data engineers and cloud engineers, along with Machine Learning experts and AI specialists. As always, the demand for analytics skills exists in various industries like information technology, telecom, manufacturing, finance and insurance, and retail to name but a few. We have also observed that this demand in the market outstrips the supply in all sectors. This clearly shows that the role of someone with the data science and analytics skill sets is very high and will stay evergreen – if it slows down in one industry, the slack is quickly picked up by numerous others.”