Shout out to job seekers! Analytics, Big Data sector to have maximum jobs with fat packages

The demand for talented professionals is growing in analytics and the data sector, but there is a shortfall of data analysts.

In a bid to attract more talent, the analytics and data sector is going to hire a lot more people, luring professionals with fat packages.

As per Analytics and Big Data Salary Report 2016 by Jigsaw Academy and Analytics Vidhya, Indian startups are willing to pay over Rs 10.8 lakhs per annum to attract the best talent in the analytics industry.

"The demand for data professionals has grown but a corresponding surge in supply has failed to happen. Experts estimate a shortfall of around 2,00,000 data analysts in India by 2018. The extremely competitive pay scales reflect this incongruity," said Jigsaw Academy CEO Gaurav Vohra.

The market for advanced analytics is expected to grow at a compound annual growth rate (CAGR) of 33.2 per cent and big data at a CAGR of 26.4 per cent.

"In 2005, entry-level salaries were around Rs 2-4 lakhs per year but today, pay scales have gone up phenomenally. With data being generated at such a furious pace, I don't see the demand for big data analysis or analysts slowing down any time soon," added Vohra.

Kolkata seems a clear winner for analysts in terms of earnings as they enjoy a better quality of life there than in other cities. The average pay for analysts in Kolkata is projected to be Rs 9.35 lakhs per annum.

According to the report, analysts get the biggest jump in salaries once they have clocked 5 years in the industry and can expect a raise of up to 70 per cent with an average pay of Rs 12.3 lakhs per annum.

"This is one of the most exciting times to be alive for data science professionals. We are standing at an inflection point in history, after which analytics and data science will become an integral part of any product or service available," Analytics Vidhya Founder & CEO Kunal Jain said.