IT was the safest career option in the last decade or so. But the disruptions in the digital economy caused by automation, big data, artificial intelligence, and machine learning are challenging the status quo. The golden age of IT giants in India is over with TCS, Wipro, Infosys, etc. laying off more and more IT professionals. But does that mean that the non-IT sectors are safe? Probably not. The availability of big data and our ability to analyze it is changing the world, not willing to slow down any sooner. Professionals who are ready to upskill will thrive while others will become obsolete. The data boom is evident in every industry and professionals around the world are capitalizing on the opportunities bestowed by the fourth industrial revolution. Let’s find out what professionals in India are doing to ride the tide with our Analytics India Salary Study 2018 published in collaboration with Analytics India Magazine, that covers key trends across industries, demographics, education, and gender.
Key Insights from the Study are:
- – The median analytics salary in India for the year 2017 is INR 12.7 Lakhs across all experience level and skill sets.
- – Mumbai continues to be the highest paymaster in analytics at almost 13.3 Lakhs per annum, followed by Bengaluru at 12.5 Lakhs.
- – A transition to senior analytics leaders, with more than 12 years of experience, can lead to almost 60% increase in salaries.
- – Telecom industry pays the highest median salaries to its analytics professionals at 18.6 Lakhs.
- – R Programming skills are most in demand with the highest salaries for R professionals at a median of 14.4 Lakhs. R is followed by Python, with median salaries of almost 14 Lakhs per annum.
- – Captive analytics centers continue to be highest salary providers in analytics, at an average of 15.2 Lakhs, an increase of 8% from last year.
- – Analytics professionals with a Ph.D. command the highest salaries at a median of 22.7 Lakhs per annum. This is followed very closely by MBA’s from premier institutions like IIMs, at a median of 22.2 Lakhs.
- – Almost 60% of analytics workforce in India have a masters degree and 7% of the workforce is from premier undergrad or postgrad institution. Ph.D.’s form just 1% of analytics workforce. Analytics recruiters prefer PhDs and premier institutes though. This is true with other professions as well, yet with analytics industry, there is certainly a higher demand for Ph.D. professionals that take up roles of data scientists.
- – Women analytics professionals in India command almost 32% lesser salaries than their male counterparts. On median, women data scientists command a salary of 9.3 Lakhs whereas male professionals command 13.7 Lakhs.