Published in THE HINDU February 24, 2016
Analytics and Big Data
sector is on a roll and is expected to see robust hiring and handsome pay
packets as startups and established firms look to attract talented data
scientists, says a report.
Unlike large companies,
which pay around Rs. 9.6 lakh, Indian startups are willing to pay over Rs 10.8
lakh per annum to attract the best talent in the analytics industry, according
to the Analytics and Big Data Salary Report 2016 by Jigsaw Academy and
Analytics Vidhya.
The analytics and big
data sector has seen a consistent growth over the last five years despite an
increasingly uncertain global outlook and the market for advanced analytics is
expected to grow at a compound annual growth rate (CAGR) of 33.2 per cent and
big data at a CAGR of 26.4 per cent.
“The demand for data
professionals has grown but a corresponding surge in supply has failed to
happen. Experts estimate a shortfall of around 2,00,000 data analysts in India
by 2018. The extremely competitive pay scales reflect this incongruity,” Jigsaw
Academy CEO Gaurav Vohra said.
“In 2005, entry-level
salaries were around Rs 2-4 lakh per year but today, pay scales have gone up
phenomenally. With data being generated at such a furious pace, I don’t see the
demand for big data analysis or analysts slowing down anytime soon,” added
Vohra.
Kolkata seems a clear
winner for analysts in terms of earnings as they enjoy a better quality of life
there than in other cities.
The average pay for
analysts in Kolkata is projected to be Rs 9.35 lakh per annum.
According to the report,
analysts get the biggest jump in salaries once they have clocked 5 years in the
industry and can expect a raise of up to 70 per cent with an average pay of Rs.
12.3 lakh per annum.
“This is one of the most
exciting times to be alive for data science professionals.
"We are standing at
an inflection point in history, after which analytics and data science will
become an integral part of any product or service available,” Analytics Vidhya
Founder & CEO Kunal Jain said.
- PTI
Experts estimate a shortfall of
around 2,00,000 data analysts in India by 2018.