In India, the median salary for analytics professionals in 2021 is INR 13.4 lakhs, down 6.9% from the 2020 median salary of Rs. 14.4 lakhs.
The annual Analytics India Salary report is the only annual study in India that looks at salary patterns and gives a holistic picture of the evolving landscape of analytics salaries. The research, now in its seventh year, examines the distribution of average salaries by years of experience, metropolitan regions, sectors, educational levels, gender, tools, and skills.
In terms of skills, capabilities, and funding, the Data Analytics role is undergoing significant growth and development. Despite the pandemic, the Indian start-up industry received $836.3 million in funding last year, a rise of nearly 10% (9.7%) over the previous year. In addition, more than one-fifth (21%) of analytics teams in India have grown in the last year, and data science jobs have increased in the post-pandemic job market. The high wages earned by analytics professionals around the company attest to the growth of the data science domain, with analytics professionals faring reasonably well throughout the pandemic.
The wages of experienced professionals or the increase in the proportion of experienced professionals earning higher salaries demonstrate the scale of growth of any domain. With an increase in the median salary in the analytics function and a corresponding increase in wages and the proportion of professionals in the upper experience cadre, this past year was an important growth year for the Data Science and Analytics domain.
Important Points to Remember
In India, the median salary for analytics professionals in 2021 is INR 13.4 lakhs, down 6.9% from the 2020 median salary of INR 14.4 lakhs. The pandemic is to blame for a large portion of the wage decline. Despite this, the median is still higher than the 2019 median.
In the entry and middle-income groups (0-6 lakhs – 38.2 percent and 6-10 lakhs – 20.3 percent), the proportion of analytics professionals remains the highest. As a result of the pay cuts, the number of Analytics practitioners in the lower brackets has increased.
However, 41.5 percent of all analytics practitioners earn more than $100,000 a year (greater than 10 Lakhs per annum). In 2020, 45.6 percent of analytics professionals had a salary of more than ten lakh rupees, indicating a decline in the percentage of professionals in this bracket.
Distribution of Salary Across Various Brackets
The results of the proportion size and median salaries of analytics practitioners across experience and salary levels are presented in this section. While the median salary for all analytics professionals is 13.4 lakhs, the largest percentage of analytics professionals (38.2%) earn between 0 and 6 lakhs. This is accompanied by a pay range of 6-10 lakhs, which accounts for 20.3 percent of analytics professionals.
However, 41.5 percent of all analytics practitioners have a higher income level, earning more than ten lakhs. Salary levels of 10-15, 15-25, and 25-50 lakhs have substantial proportions of 16 percent, 14.5 percent, and 7.8%, respectively. The proportions for these ratios have decreased from the 2020 percentages of 17 percent, 16.2 percent, and 8.5 percent, reflecting the pandemic’s temporary change.
Analytics Salary in Comparison to Other Information Technology Roles
By comparing the wages of any function or position within a broader domain to that of the broader domain, the impact of that function or role is illustrated. Professional wages for the Analytics position are the highest as compared to salaries for other positions, emphasizing the importance of analytics roles across organizations.
Analytics professionals earn 4% more than Cloud Developer professionals, with a median salary of Rs. 13.4 lakhs. Similarly, an Analytics specialist earns 44 percent more than a Software Engineer, and 36 percent more than an IT Developer, and 50 percent more than a Java Developer.
Salary Trends In Cities
Once again, Mumbai is the city with the highest salaries for analytics workers, with a median salary of 14.7 lakhs per annum, followed by Bengaluru at 14.5 lakhs.
- In comparison to other cities, Mumbai’s higher cost of living has driven analytics professionals’ salaries to the highest level.
- Apart from that, it is a rather sector-specific area, as the majority of domestic banks (ICICI and HDFC Bank), consulting firms, multinational banks (MNC Banks), and investment firms (Nomura) have their headquarters, financial and investment centers, and analytics operations in Mumbai.
- In the last 12 months, Mumbai has seen the largest drop in analytics wages, down 5.7 percent, while Bengaluru has seen the smallest drop, down 1.2 percent.
- Most industry startups are located in Bangalore, or in the case of Ola and PhonePe, their management and analytics are based there. Along with the startups, the emergence of top domestic IT firms such as TCS, Infosys, and Wipro, as well as some of the top MNC captive centers such as Accenture, Oracle, and Dell, has made Bangalore the city with the second-highest median salary for Analytics Professionals.
- Similarly, the BPO/KPO hub of Delhi NCR places analytics staff in third place with median salaries of 13.0 lakhs.
- With salaries of 11.8 lakhs and 11.6 lakhs, Pune and Hyderabad are ranked 4th and 5th, respectively, in terms of pay.
- At INR 11.0 lakhs, the salaries of analytics professionals in Chennai are the lowest (among large cities).
Salary Range By Level Of Experience
By comparing median salaries across skill levels, the pandemic has had a greater effect on the salaries of Analytics practitioners in higher positions. This may be due to an unequal distribution of salary cuts across an organization, with senior analytics professionals bearing the brunt of the cuts more than junior analysts.
The number of senior-level jobs has increased as more domestic and foreign businesses develop dedicated analytics functions. Almost one-sixth of all Analytics employees (16.2 percent) have more than 12 years of experience. Companies are recruiting senior executives to obtain insights and intelligence on consumers, economies, and the next generation of growth goods.
The median salary for Analytics professionals with 3 to 6 years of experience has decreased by 0.9 percent to 8.4 lakhs per year. Professionals with more than 12 years of experience earn the highest median salary of all experience levels, at 28 lakhs per year. This is a decline of almost 6.4 percent from last year’s salary of 29.9 lakhs. Similarly, salaries for those with 10-12 years of experience and those with 6-10 years of experience have decreased over the last year and now stand at 17.9 lakhs (a 5.5 percent drop) and 13.1 lakhs (a 3.4 percent drop), indicating a pandemic-related decrease in salaries.
Salaries In Different Industries
The pandemic was the most significant factor in determining wages across industries this year. Different sectors were affected differently by the pandemic and the subsequent lockout restrictions. Some industries, such as manufacturing, were forced to shut down completely, while others, such as e-commerce, saw their popularity skyrocket.
- Analysts in the telecom industry, as in the previous year, earn the highest median salary among all sectors, at 17.9 lakhs. Salaries in the telecom sector have also decreased by nearly 10% from last year’s salary of 19.8 lakhs.
- Professionals in the Energy/Industrials sector can earn up to Rs. 15 lakhs per year. Salaries in this field have dropped by 18 percent since last year, to 18.2 lakhs. In terms of median wages for analytics practitioners, the Energy/Industrials market now trails the CPG/Retail sector.
- Salaries in the CPG/Retail sector remained unchanged from the previous year, at 17.6 lakhs per annum.
- In terms of employee wages, the Media & Entertainment and e-commerce industries rank lower, with 13.3 and 12.6 lakhs respectively. Salaries in these two industries have decreased by 3% and 5%, respectively, compared to the previous year.
- Employees in the Travel and Hospitality industry earn the least, with a median salary of 11.9 lakhs, a decrease of nearly 7%.
- In India, the banking sector was one of the first to introduce analytics. Furthermore, banking organizations are the second-largest recruiters of analytics professionals in India, after IT firms. The median salary for banking for analytics professionals is currently at 14.6 lakhs, down 7% from the previous year.
- CPG/Retail has the highest percentage of professionals in the upper salary class of 50 lakh and above (6.2 percent). The Telecom sector is next, with 5.5 percent of its professionals earning more than 50 lakhs.
- Finally, the Travel/Hospitality industry employs the greatest number of entry-level analytics professionals, with 45 percent earning less than 6 lakhs per year.
- Salaries have decreased in all industries over the last year, with Energy/Industrials seeing the highest decline of 18%.
Salary Requirements For Data Science Roles
This year, the median salary of Data Engineers and Big Data Specialists narrowly outpaced that of AI Engineers. In 2021, the median wage for these positions will be 14.9 and 14.8 lakhs per annum, respectively, up 2.3 percent and 3.0 percent from last year. The median annual wage for AI Engineers is 14.6 lakhs. In comparison to 2020, this median shows a 7.3 percent fall (when it was 15.7 Lakhs). The median salary for reporting and MIS practitioners is 8.6 lakhs per year, which is the same as last year.
Salaries By Company Types
The categories of companies in this segment have been listed based on their core activities (captive, domestic businesses, and IT service providers).
The median salary for analytics workers in Captive Centres is 16.9 lakhs, which is the highest of all median salaries. However, as compared to the 2020 median, this was down 10.0 percent.
Consulting companies have broad analytics operations; they provide analytics as a stand-alone service or as part of the overall consulting package. They use analytics in the package to make inferences and suggestions for their clients. From their India operation centres, these two services are offered to both international and domestic customers. Consulting companies pay the second-highest wages, which are the same as last year at 16.2 lakhs.
Boutique Analytics companies are small to medium-sized businesses that specialise in analytics and related fields. In comparison to the previous year, Boutique Analytics companies increased by 7.6%, putting them ahead of Domestic Firms. Boutique Analytics firms will pay a median wage of 13.9 lakh per annum in 2021, up from 13.4 lakh in 2020.
Although domestic companies such as Reliance, Godrej, and Aditya Birla have developed dedicated analytics divisions, Data Science and Analytics may have taken a back seat during the pandemic. Big IT firms like Wipro, Infosys, and TCS, for example, offer Analytics services to other businesses as part of their value chain. The median wage for all forms of businesses has plummeted. In 2021, IT services businesses cut the median salary of Analytics Professionals by the most, by 13.3 percent. The median salary in 2021 is 10.4 lakhs per year, down from 12.1 lakhs last year.
Education Qualifications Salaries
Not only does having a master’s or bachelor’s degree in engineering or management help you earn more money, but it also matters where you got your master’s or bachelor’s degree. When you have a bachelor’s or master’s degree from a top-tier institution like the IIT, IISc, or IIM, your chances of getting a higher salary increase significantly.
Engineering undergraduates from top-tier universities earn the highest median salaries, which are nearly identical to last year’s figure of 24.2 lakh per annum. An employee with an engineering undergraduate degree from a broader pool of universities, on the other hand, receives a salary of 13.2 lakhs. As a result, workers with an engineering degree from a top-tier, premier institute will receive 83.8 percent more than those with a general engineering undergraduate degree.
In 2021, post-graduates in management from top-tier institutions will earn the second-highest median salary of 24.1 lakhs. This was a 1.9 percent increase over the previous year. A compensation of 15.6 lakhs is possible for an employee from a larger pool of MBA institutions. As a result, workers with a management degree from a top-tier, premier institute will earn 55.2 percent more than those with a general MBA.
Although the median salary differential between engineering and management graduates from top-tier institutes is insignificant, the disparity between the two graduates from other institutes is 18.0 percent. PhD graduates saw a 5.5 percent decrease in median wages, dropping from 22.6 lakh to 21.3 lakh per year. Non-engineering undergraduates and non-MBA post-graduates receive the least, with annual salaries of 12.5 and 12.0 lakh, respectively.
Salary Difference Between Men and Women
Although the analytics role has grown significantly in terms of wages and capacities, there is still a wage gap between men and women workers. Although the pandemic did not widen the gender wage gap in the Analytics industry as it would have done otherwise, it has remained nearly unchanged in recent years. This disparity is due to a lack of female representation, as noted in our Women in AI survey. This happens because men are more closely associated with analytics and other science and technology functions, while women are more closely associated with functions related to social sciences and the arts.
The median salary for men is 14.6 lakhs, while the median salary for women is 10.1 lakhs. As a result, women’s median salaries are 45 percent lower than men’s and 25 percent lower than the total median salary of 13.4 lakhs.
The median wage disparity between men and women has narrowed slightly to 45 percent this year, down from a high of 47 percent last year. Men’s incomes have decreased by 7.2 percent in the last year. Women’s wages have dropped by 5.9% in comparison to men’s.
In 2021, analytics professionals with Python as a primary skill set will earn an increase of 4%, from 15.3 lakhs to 15.8 lakhs. Python is the most in-demand “tool” skill set in analytics right now. With a 15% decrease in median income, Hadoop was the most affected. In 2021, the median salary for Hadoop professionals will be 12.0 lakhs per year, down from 14.1 lakhs the previous year.
Despite the fact that the analytics industry is still growing, it was not immune to the pandemic. Firms were forced to make salary cuts for Analytics staff as a result of budget cuts. In 2021, the median salary for Analytics professionals in India will be 13.4 lakhs per year, down 8.3 percent from the previous year’s figure of 14.4 lakhs. Despite the pandemic, the industry was able to keep the median above 2019 in spite of the situation.
To summarise, fresh graduates considering a career in IT, as well as experienced IT or domain professionals considering a career change, should consider a career in analytics and upskilling to an analytics capability. Professionals in this field should look at industries or companies that have digitised more since the pandemic and concentrate on expanding their skills beyond Python to gain more in-demand expertise.
In terms of learning, capability, and compensation, the analytics feature offers plenty of room for advancement – analytics practitioners receive the highest salaries of any IT function.
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