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Business Analytics Salary Trends in India (Statistics)

Today, organization’s biggest asset is the ability to interpret data and make right decisions for a positive growth. In order to get this started, a company’s biggest need is to employ someone with this skillset, in-short, to employ a Business Analyst.

A vital profile in any organization today, Business Analytics is extremely looked up to while taking business decisions. We studied surveys from organizations like McKinsey, Deloitte and Harvard to understand the demand for analytics professionals and the results are stunning.

Today, our blog is focussed on trends in salaries and how it is shaping for a  business analytics professionals in India.

Scope of Business Analytics in India

The scope of a business analytics professionals is consistently expanding in today’s world. Today, top-tier companies like IBM, Accenture, and Deloitte are using business analytics tools and coming up with decisions that are useful and profitable.

Therefore, keeping all these information in focus, we have drafted a few statistics on the salary trends in India.

  • The average salary for an Analytics Professional in India at the end of 2016 was INR 11.7 Lacs across all experience level and skill sets.
  • Analytics professionals recorded almost 22% increase in their salaries after expanding their skill set with Business Analytics.
  • A number of analytics professionals earning more than INR 15 Lacs has increased from 33% in 2016 to 37% in 2017.
  • On average, analytics professionals receive around 30% higher salaries than IT professionals in India.
  • the average salaries of Analytics professionals stand at 11.7L, that of IT professionals is at 8.65L, of professionals in Primary Research is 9.03L, Financial research at 8.96L and that of Secondary research is 7.83L.
  • 28% analytics professionals in India earn in the salary bracket of 10-25L. This number for IT professionals is 17%.

  • Advanced analytics/predictive modelling professionals are paid the highest salaries compared to their analytics peers i.e. 14.7 Lacs on average.
  • Big data professionals and data mining professionals get up to 13 Lacs & 9.9 lacs on average.
  • BI, Reporting , MIS professionals get upto 8.3 Lacs on average and data engineer an average of 11.5 Lacs.
  • Average salaries across all cities have increased by more than 20% for analytics professionals this year.
  • Pune saw the highest increase in analytics salaries by almost 30% – from 8.8L to 11.4L this year.

  • Mumbai retails its spot for highest salaries in Analytics at almost 14L per annum – an increase of 22% from a year ago.
  • In the 0-6 Lacs bracket, Hyderabad dominates other cities with 42% of analytics professionals earning below 6 Lacs followed closely by Pune at 39%.
  • Mumbai leads the pack in more than 15L salary bracket, with 28% earning within this bracket, followed closely by Bangalore (25%) and Delhi/NCR(22%).

Salary Statistics and Image Credits – Analytics India

Looking to enrol in a Business Analytics Program? Here’s what our program offers to students.

Virginia Tech India has launched its Postgraduate program in Business Analytics for students who wish to build their career in the field of Business Analytics. The program commences from Feb 2018. The PGPBA program is a 12-month blended program. The program is a blend of on-campus and online instruction from US faculty. Students are supplemented by online classes which will be held on scheduled weekends. Additionally, there will be recorded lectures on our learning management system which participants can access during convenient timings. To learn more about our program, click here.

5 career opportunities after completing your Business Analytics Program

business-analytics-virginiatech-india

Companies today, focus more on understanding their critical business issues before venturing into something new. With a challenging economy, it is vital for organizations, big and small, to make decisions based on past data. Before venturing into a successful plan, you must, first and foremost, study trends. analytical data available in your domain, these help you determine different ways you can take a stride ahead to gain positive results.

In order to achieve this, an organization’s primary requirement is to equip their staff with Business Analytics skillset. With big and bigger data making a significant role in our country today, we’ve decided to share the top 5 careers that are currently revolving around this domain.

1. Data Scientist, Emphasis On Computer Science/Technology

Not all who pursue Business Analytics, love numbers and statistics. On the contrary, some people show particular interest in the technical aspect of business analytics. If you belong to this category, Data Scientist should be a career option that you look forward to.

Work Portfolio:-

  • Data scientists work alongside with databases, coding, high-performance computing and parallel processing, and machine learning.
  • Data scientist work with tools that help in data visualization (Representing data and analysis via charts and tables).
  • Data scientist help classify data sets and in creating predictions that can be leveraged for business.
  • Work with Python, Spark, Scala, and Julia to help make your job easier.

2. Data Scientist, Emphasis On Analysis

Aside from showing interest in technology, some data scientists show more interest on the analytical side of the domain. Focussing more on math and statistics, these data scientists have a particular interest towards reading statistics and understanding the trends than coding.

Data scientist with an interest towards analytics, help build complicated data models and simulations in a big data environment.

3. Quantitative Analyst/Modeler

A quantitative analyst/ modeller, help in comprehending data models to support business decisions.  Primarily used in the financial industry, these analysts, help manage risk and in making decisions based on the trends of data models to provide more reliable and consistent results.

Quantitative analyst usually has a strong background in mathematics, science, computer science and engineering. The ability to work with mathematical models is more valuable as it offers more concrete results, eliminates the risks associated with human reasoning.

4. Business Analyst (Data)

Are you amongst those whose seeking a blend of business interpretation and analytics? The role of a Business Analytics (Data) is what you should pursue.

While data scientists help in building a visual representation of data and in generating actionable information from data, a business analyst makes use of this information to generate insights about the business.

To be business analysts with an emphasis on data, you must have knowledge about the technical components related to managing and manipulating data.

5. Business Analyst (Manager/Consultant)

Inspired to be a leader and handle a team. You can choose to be a manager/consultant with a core emphasis on the business analytics domain.

A Business Analyst Manager has a good grasp of technical tools, data analytics foundation methods, data gathering and processing, having a big picture of insights and in team management.

Other vital skillsets to become a Business Analyst manager is communication, leadership, team management and strategic thinking.

 

Why choose Virginia Tech India’s Postgraduate program in Business Analytics?

Virginia Tech’s Business Analytics program is an interdisciplinary program that requires expertise from marketing, finance, artificial intelligence, statistics, databases, programming languages, cloud computing, enterprise systems and a host of other areas that are needed to build an effective environment for analytics solutions.

As a part of our curriculum, we work closely with the industry, to listen to their needs in order to make the program provide students with the best return on your investment in time and money.

The program integrates four dimensions of learning: data, models, technology, and domains and is designed to breed an entrepreneurial spirit with its students. We prepare innovative thinkers who can provide effective solutions that benefit society and the economy.