Advanced analytics workers get higher salaries among peers
With big data and analytics allowing organisations to gain access to multitudes of information that can help them strategise focussed business growth, the demand for professionals with expertise in big data and analytics is growing fast and so is their compensation. With data analytics industry maturing, the salaries that analytics professionals are offered across industries, levels, locations and roles have also undergone dramatic changes. According to Analytics India Salary Study 2018, it is the advanced analytics and predictive analytics professionals, who will be paid the highest salaries among their peers this year. Such professionals command a median salary of 1.45 million, which, however, remains the same as last year, as more professionals are entering the field.
Next in line are the big data professionals and data mining professionals, who receive a median salary of Rs 1.45 million and Rs 1.1 million per annum respectively. In terms of the increase in salaries as compared to last year, the study indicates that data engineering professionals witnessed the biggest jump in 2018, with median salaries increasing by 23 per cent—from Rs 1.15 million to 1.42 million. The report suggests that the demand for data engineers has also increased tremendously in 2018. The number of data experts earning over Rs 1.5 million a year increased from 17 per cent in 2016 to 21 per cent in 2017.
While on one hand the IT industry in India is letting go of a lot of its talent due to automation, and engineering professionals were struggling to hold on to their jobs, the salary increase for analytics professionals is also a sign that reskilling will be the way forward. In 2017, the $160-billion Indian IT industry laid off over 56,000 employees owing to automation. On the other hand, data professionals are in demand across industries. Telecom pays them the highest (around Rs 1.86 million per annum), the lowest being the media and entertainment industry (Rs 1.03 million) and large IT firms (Rs 1.01 mn).