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Top 10 Analytics firms offering the highest salaries in India
With more than a lakh professionals working in this sector in India, it is important for you to know which companies are offering the best remuneration for data analysts.
Analytics was once restricted only to telecom, healthcare, retail, and financial services but now this complex amalgamation of science and art has entered the world of engineers.
Analytics, as the name suggests, is the phenomenon of analysing data through the use of strong techniques and tools.
Today, with the advancement in technology and so many statistical tools at businesses' disposal, analytics has made its way into social media, HR, gaming, and e-commerce as well.
This is the reason why the analytics industry in India has soared significantly in the recent years and aspirants now have a wide scope.
India already has more than one lac professionals in this field, working for various businesses.
Why choosing Analytics is advisable
Top firms in India including Citibank and HSBC are branching into the analytics industry, and they have a lot of demand for budding analysts.
Knowledge Processes Outsourcers or KPO companies are not far behind either.
The likes of Accenture and Genpact are also looking for analysts to carry out various functions for them. Other firms include Gramener and Tesco.
This data clearly shows that analytics is now an integral part of the top firms in India.
Also, you must note that businesses of different niches are now on the lookout for analysts.
These niches, as previously explained, include KPOs, In-House Units, IT Companies, and Niche Analytics Companies as well.
With the digitisation in this era and the establishment of everything over the Internet, analytics is now a must.
Gone are the days when it was a luxury that only the giants in the business world enjoyed.
In India today, you will find anywhere between 500 to 800 analysts from 10,000 employees.
The size of the analytics market in India is worth a whopping $375 million.
This number is expected to increase drastically to $1.15 billion according to recent reports.
Presently, there are over 500 companies operating in this industry in India.
With the increase in the demand, the salary associated with this job field is also increasing at a fast pace.
Right now, the industry is predicted to see a raise of about approximately 15 percent in salaries every year.
Please note that this increment forecast is coming at a time when the country is in economical crisis.
Other fields are not expected to see increments of more than five percent.
Comparatively, thus, the pay for analysts and the scope are extremely attractive.
However, not everyone chooses a job for the money.
Analytics also offers the individual to get in touch with various different departments within the company and also apply to various different sectors.
That versatility and the flexibility to work in different environments is something that appeals to many aspirants.
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Multiple opportunities for professionals
The various types of Analytics jobs
Analytics jobs are of various types including data analytics, web analytics, marketing analytics, system analytics, analytics consultant, financial analytics, investment analytics, business analytics, and so on.
This, again, proves the point that those interested in the field of analytics have a lot of scope and demand in various industries.
The job opportunities
Depending on the experience, there are four levels of jobs:
- Entry-level: 0-2 years of experience
- Mid-level: 2-5 years of experience
- Senior management level: 5-10 years of experience
- Director level: Over 10 years of experience
The rise and rise of pay package
The pay package may vary from industry to industry but as hinted already, the pay package is quite hefty and is expected to get even better in the near future.
KPOs are more attractive to the beginners because the salary is high and the experience gained is priceless.
An entry-level individual can expect a salary package of more than five lakh INR in a KPO.
However, KPOs are not the best choice for experienced analysts because when compared the pay package by other firms for experienced analysts, KPOs lose out.
IT companies also offer great packages for entry-level analysts but their offerings for experienced analysts are also quite lucrative.
This is why a good number of interested individuals look for jobs in Infosys, Wipro, and other such firms.
The main disadvantage here, however, is that these firms are more software oriented and they may not be the best platforms for analysts.
The In-House firms probably offer the best pay package in all levels except the entry-level.
However, only if you want to work in one particular environment are you advised to go with in-house firms.
You will not have the flexibility to work for various organizations. You have to stick to the same industry and the same niche.
Niche analytic firms, on the other hand, are quite challenging and the pay package is comparatively quite low.
Therefore, at entry-level KPOs and IT Firms are the best while at other levels in-house firms steal the show.
You should not forget the environment and the flexibility offered by each field, though.
How much do Analysts earn?
Today, more than 20 percent analysts in India earn more than Rs 15 lakh per anum while 60 per cent analysts earn more than Rs 6 lakh.
Geographically, Mumbai scores the highest but when standard (cost) of living is considered, Bangalore takes the lead. Gurgaon, Hyderabad, and Pune follow Bangalore and Mumbai closely.
Therefore, it is clear that the analytics industry in India is getting stronger by the day and is the key for commercial growth of the country.