Do Data Analysts Get Paid Well?
Data Analysts average salary
Data analysts are professionals who collect and process data for statistical data analysis. Data analysis is one of the most lucrative career paths in 2022. Businesses are desperate to recruit data analysts because these professionals can transform data into better data-driven decisions.
As a fresh college graduate, you might be thinking of pursuing a career in data analysis. If you have already decided to become a data analyst, you must know if these professionals are paid well or not. In this blog, you'll learn how much does a data analysts earn on average. We will also brief some tricks by which you can boost your earning potential.
How Much Does a Data Analyst Earn– Globally?
The base pay for a Data Analyst in India ranges from ₹ 1.9 Lakhs to ₹ 11.5 Lakhs annually. Talking about the average salary, it is ₹ 4.3 Lakhs per year. The average salary for a data analyst in the United States is $63,865. While the average salary range as mentioned above varies, each of these salary figures is significantly higher than the average annual salary across all occupations in India and U.S.
Are Data Analysts Paid Well?
Yes, data analysts are paid quite well throughout the world. India is a country where data analysts are paid off well. An Entry Level Data Analyst who has 1 – 2 years of experience earns an average salary of ₹4.4 Lakhs annually. And a Junior Data Analyst is eligible to earn from ₹ 2.0 Lakhs to ₹ 6.5 Lakhs.
In the United States, the average data analyst salary is quite high, i.e., $70,676. This salary figure can range from $44,000 to $86,000. As an entry-level data analyst, you can take home $45,000. This salary figure can easily multiply as high as a six-figure income. For that, data analysts need to get 10 years or more experience.
Years of experience and geographic location are two major factors that decide the average data analyst's salary. In India Mumbai, Bangalore, Chennai, Hyderabad, and Pune are the top cities to pay the highest to data analysts. In the U.S. San Francisco & California pays the highest data analysts' salary packages.
Data Analysts: Highest Paying Industries
It's 2022, and data is generated every single second. There is a huge demand for professionals to manage the data sets. And that's why there is a need for data analysts in nearly all industries. Some fields experience higher demand for skilled data professionals.
The top industries hiring data analysts in 2022 are as follows:
- Financial services
- High-technology
- High-tech
- Professional services
- Retail & eCommerce
Increasing the Pay Rate as a Data Analyst
Although the average data analyst salary for freshers is high, you might want to increase it further. Career experts advise data analysts to master today's in-demand data skills, consider an advanced degree, & chase experience. All of these factors can maximize your earning potential.
Below, we have highlighted 2 ways to get paid better as data analysts:
- Master Skills
A data analyst should develop some popular in-demand skills to succeed in their field. These skills are SQL, Data Analysis, Data visualization, Database Management & Reporting, Data warehousing Critical Thinking, Statistical programming languages, & Machine learning.
- Pursue Advanced Data Science Course
For further increases in salary ranges, data analysts can pursue data science courses. Seek out a program that aims to teach you math, science, databases, programming, modeling, and predictive analytics. You can enroll for the course Advanced Certification in Applied Data Science, Machine Learning & IoT By E&ICT Academy, IIT Guwahati.
Why Pursue a Career as a Data Analyst?
Data analysis is a professional career path and so it needs to have a versatile skill set. A few reasons why you should become a Data Analyst in 2022 are:
- High-in demand - Data analysts are learning and advancing at a constant rate. This leading career path has a lucrative salary and rising demand in the market.
- Work Flexibility – Data analysts get the opportunity to work in many types of companies such as agencies, start-ups, large-scale corporate, or even freelancers.
Conclusion
This article gave you a clear perspective on data analyst career path and salary. Big data will keep getting greater and so will the demand for skilled data analysts. Data analysts appeared at the top of the list of jobs & so, a career in data analysis is worth exploring. In case you want to explore more about data science in detail, you can enroll for the courses offered by The IoT Academy. With dedicated mentors at work, you can learn about the concepts, modules and skills related to data science in a much simplified way.
