What Is The Data Analyst Salary For Freshers In India?

What is Data Analysis?

Data analysis is a thorough procedure for gathering usable data and analyzing it to provide a more trustworthy decision-making process for a business or an organization's objective. The process starts with acquiring information and moves through interpretation, analysis, and action. Analyzing data in different ways can help you make informed decisions for your organization. There are four categories that it falls under.

Descriptive Analytics: It is a technique that emphasizes numerical data. It answers the query, "What happened? The average number of articles each employee writes in a month, the poll asking what articles consumers prefer, or the average number of likes are some of the examples.

Diagnostic Analytics: Unlike descriptive analysis, diagnostic analysis seeks to explain why something happened rather than describing it. It aids in figuring out the cause of a favorable or unfavorable outcome.

Predictive Analytics: This approach to analysis enables the utilization of data for future analysis. As the name implies, you will make predictions about future patterns and trends using the information you gather to provide a response to the question, What will happen?

Prescriptive Analytics: This kind of analysis focuses on making strategic business decisions that statistical data, unambiguous facts, and visual data support. This examination should be focused on something other than feelings or what you see. It differs from predictive analysis in that it requires machine learning and practical approaches to draw a firm conclusion. A forecast is not necessary; statistical procedures are.

Data analysts are subject matter specialists who can convert numbers, figures, statistics, and other types of data into plain English for easy comprehension by all company members.

Every day, we produce more than 2.5 quintillion bytes of data worldwide, and a data analyst's responsibility is to glean helpful information from this mountain of data and provide it to the stakeholders in a complete way, such as reports and visualizations. Since data analysis is a relatively new subject and developments are occurring daily, there is always space for improvement. However, it is the ideal career path for individuals with a solid background in statistics, math, and computer science.

What exactly does a Data Analyst do?

A data analyst's job is to gather, store, and analyze data to process it into useful information further that one can use to enhance corporate operations and make wise business decisions. You must also evaluate and interpret corporate data as a data analyst. You must be able to communicate the same to the various stakeholders, clients, business partners, etc., after analyzing the provided data and interpreting hidden insights from it.

Data Analyst Job Roles:

Job roles that fall under Data Analyst jobs are:

• Data Analyst
• Data Scientist
• Data Engineer

Data Analyst: Data analysts at an organization collect data from businesses and transform it into insightful patterns, trends, and other insights to effectively communicate the data to create business strategies, tactics, and decision-support systems.

Data Scientist: Data Scientists must use diverse algorithms to extract actionable insights such as trends and relationships from datasets after gathering, analyzing, and interpreting enormous amounts of data. To complete the task, they must be well-versed in math, statistics, and programming.

Data Engineer: Data Engineers must plan and provide a dependable infrastructure that Data Scientists may use. These experts transform raw, structured, and unstructured data for additional operational and analytical uses.

Why You Should Become a Data Analyst?

A varied skill set is necessary for an analyst's profile. The following are the benefits of becoming a data analyst:

• The demand for data analysts is growing as a result of their ongoing learning and professional development in their domains.
• Data analysts are changing. As time and trends change, you may develop your abilities and advance in your profession.
• Data analysts can work for various businesses, including startups, agencies, giant corporations, and even independent contractors.

Data Analyst Salaries for Freshers in India:

A data analyst's pay structure could range from 342,363 to 1,750,000 per year. The need for a data analyst has improved due to the massive increase in data compared to earlier years. As a result, a data analyst salary for a newcomer in India can be a decent place to start. However, a variety of factors influence a data analyst's pay, including experience, abilities, location, and company.

Data analytics is becoming increasingly in demand not just in India but throughout the world. The average salary of a data analyst fresher in India is significantly greater than most other occupations. The typical income for a data analyst is from Rs. 4,50,000 to Rs. 5,50,000, while the average Data Analytics salary is roughly Rs. 4,39,260. Additionally, commissions range from Rs. 2k to Rs. 102k, and an annual bonus is equivalent to around Rs. 10k to Rs. 197k. With a rise in the number of first-year students choosing a career in data analysis in India, 78% of specialists in Data Analyst job roles have entry-level wages as high as six lakhs. It is an excellent indicator of the increasing data analytics business.

Data Analyst Salaries in India: Some Contributing Factors:

In India, the starting salary for a data analyst varies depending on location. Organizations choose salary and discuss it after taking into account several elements. The following are a few of the most crucial aspects that are taken into account when hiring data analysts:

Data Analyst's Salary Depending On Experience:

Your amount of experience can have a big impact on your income in many areas. It is especially true for data analysts, for whom both formal education and practical experience are essential. For example, the average compensation for a data analyst in India with two years of experience is 3.8 Lakhs, whereas someone with four years of experience makes 5.2 Lakhs, according to Ambitionbox. For new hires, the average annual compensation for a data analyst is roughly 1.9 Lakhs.

Your years of experience significantly impact your ability to generate money. In terms of salaries, beginning project managers make between 15,000 and 20,000 less than beginning data analysts. This curve increases as your career develop.

Salary for an Entry-Level Data Analyst:

Average salary for data analyst's in India is Rs. 6,98,412. With less than a year's worth of experience, the entry-level pay can be in the range of Rs. 5,000,000. The average salary for data scientists with one to four years of experience is Rs. 6,10,811.

Salary for a Middle-Level Data Analyst:

The income of mid-level data analysts depends on their experience. Experience exhibits a more significant knowledge base, real-world solutions, adaptable functioning, and the ability to mentor others. As a result, a data analyst with more experience than three years in the field will be paid more than a newer data analyst.

Salary of an Experienced Data Analyst:

With three to four years of business experience, the average salary for data analytics rises to Rs. 7,25,344 a year, according to Glassdoor.

Data Analyst's Salary Depending On Location:

If a data analyst is employed in Mumbai, their wages may differ from those in Bangalore for a rookie. It is because one of the variables determining the income of a data analyst is their location. The cost of living and demand for each occupation vary by city or state, and salary is set in accordance with these factors.

Data analysts will make much more money in some cities than in others. For example, your pay may rise by 25% to 35% if you work in Bangalore or Pune. The remuneration of your project manager may be multiplied by where you live and work.

Let's say you live in Lucknow but are given a job as a data analyst at a company with headquarters in Bangalore. Instead of 4.9 lakhs, you might be given 2.7 lacks (the average wage in that region) (the average salary for the data analyst's in Bangalore).

Here are some data analyst salaries are broken down by location.

Bengaluru: A data analyst in Bengaluru has an average annual salary of 6,00,000.

New Delhi: A data analyst in New Delhi makes an average annual salary of 5,87,500 rupees.

Mumbai: A data analyst in Mumbai earns an average annual salary of $5,44,938.

Chennai: On average, a data analyst in Chennai makes $6,16,779 a year.

Data Analyst's Salary Depending On Industry:

When recruiting a Data Analyst, many businesses and employers from various industries have distinct criteria. Therefore, the salary would vary depending on the company's position in the market, the job, and the necessary abilities.

Here are the leading organizations in India that employ data analysts:

• Tata Consultancy Services (IT)
• Accenture (IT)
• Tech Mahindra (IT)
• Capgemini (IT)
• Flipkart (E-commerce)
• Cognizant (IT)
• Infosys (IT)
• Genpact (Professional services)
• LatentView Analytics (Data and analytics)
• Novartis (Pharma)

Data Analysts Salary Based On Skills:

A data analyst should focus on learning the many skills necessary for a data analyst to acquire a high-paying position with fewer years of experience. In addition, they need to consider upgrading their skills beyond merely getting a degree in data analysis.

Several of the skill sets that have an impact on a data analyst's salary range are: