Even as there is a lot of worry over graduate engineers not being able to find a well-compensated job, big data analysis continue to remain hot in India; so much that companies will not shy away from paying millions to mid-level data engineers.
Even as there is a lot of worry over graduate engineers not being able to find a well-compensated job, big data analysis continue to remain hot in India; so much that companies will not shy away from paying millions to mid-level data engineers, a research report has shown. The average salary for a data analyst or engineer in India is Rs 12.7 lakhs (or 1.3 million) per annum across all experience level and skill sets, and the percentage of individuals earning Rs 15 lakh per annum has increased from 17% in 2016 to 21% in 2017 to 22.3% in 2018.
“While IT firms have shown a negative trend, the demand for data engineering professionals have increased across the companies, resulting in a significant jump in their salary structure. Whereas for salaries across analytics skills, advanced analytics roles and predictive modelling professionals grabbed the limelight compared to other roles,” Analytics India Magazine said in a research report.
They also found that while demand for data engineers continues to remain optimistic, the percentage of individuals accepting jobs for a salary less than Rs 6 lakh per annum has fallen too. “37.6% of analytics professionals in India command a salary of less than 6 lakh. This is lower than 2017 (39%) & 2016 (42%).”
However, the research also indicated that even data engineers who are in great demand begin at a lower salary up to Rs 6 lakh per annum, until they attain an experience level of at least four to six years. The salaries for 4-6 years of experience were relatively stable at Rs 8.7 lakh per annum.
An analysis of industry-wide salary levels shows that it is the telecom sector that pays as high as Rs 18.6 lakh per annum on an average followed by the retail sector, while media and entertainment sector has the lowest average salary of Rs 10.3 lakh per annum.
Analytics recruiters prefer PhDs and premier institutes. Almost 60% of analytics workforce in India have a masters degree and 7% of the workforce is from premier undergrad or postgrad institution. PhD’s form just 1% of analytics workforce.