The objective of a data analyst is to amplify data and turn it into better business decisions via mathematics and analysis. Increasing amounts of data are creating a demand for data analysts who can process and interpret these data. A data analyst usually earns a high salary. The following article discusses how much data analysts make on average, as well as some of the factors that can influence their salaries, such as experience, industry, location, and job title. Our discussion on how you can boost your earning potential as a data analyst is also pertinent to anyone looking to start or advance their careers as data analysts.
What is an average data analyst salary?
Based on job listing site Glassdoor [1,] a data analyst in the United States will earn a base salary of $68,583 in June 2021. an annual median salary of $86,200 [2, 3], while consulting firm Robert Half lists a median salary of $103,250 . Even though these salaries differ, what you will notice is that each of these figures is significantly higher than the average salary for all occupations in the United States, $56,310 [4.]. Data analysts need to consider a variety of factors when determining their salary. Let’s look at a few of them in more detail.
Data analyst salaries by experience
It is important for you to consider your level of experience when determining your salary. An analyst’s earnings should increase the more time he or she spends in the field. For example, Glassdoor reports that four to six years of experience can generate an increase of $2,500 a year in salary, while seven to nine years could result in a larger annual salary increase of $5,800. Your earning potential can be further increased if you are promoted to a leadership position. The Glassdoor site notes that the average salary for analytics managers in the US is $119,526 and for directors of analytics is $150,558 [5-6].
Data analyst salaries by industry
A data analytics tool can be used for more informed business decision-making in virtually every industry. Your pay can, however, be affected by the industry that you work in. In general, industries where data professionals are in high demand usually pay well as well. In the Quant Crunch , an IBM report about demand for data science skills, financial services, professional, scientific, and technical services, information technology, management, and manufacturing account for over three quarters of data job openings.
Data analyst salaries by location
As a data analyst, your location can also influence your income. Typically, living in a big city like San Francisco, New York, Boston, or Washington, DC will make you more money (but also cost of living will be higher). More and more companies are using geographically dispersed workforces (including virtual employees), which means they often offer location-based salaries. Instead of relying solely on merit, these salaries take location into account.
Salaries for other data professionals
You can start your data career by becoming a data analyst. Gaining experience and developing new data science skills may allow you to advance or specialize in your job responsibility. some of them, as well as their Glassdoor salaries in the US. A business analyst makes $75,351 per year; a database administrator makes $75,351. A business intelligence analyst makes $81,438. A statistician makes $83,925. Data engineer: $86,669 : A data architect costs 111,298. A data scientist costs 115,228. A data analyst costs 115,228. Machine learning engineer: $118,587 : 128,353 dollars 3
Job outlook for data analysts
Big data is growing faster than firms will be able to convert it into actionable insights. Companies will need skilled analyst who can turn big data into actionable insights. A US Bureau of Labor Statistics prediction predicts that work in data analyst fields will grow by 25 percent between 2019 and 2029, significantly faster than other occupations. As more companies adopt big data analytics, the growth in adoption is likely to remain strong. By 2025, 80 percent of companies surveyed by the World Economic Forum for the Future of Jobs 2020 report will use big data. According to the same report, analysts and scientists are in high ysts and scientists appeared at the top of the list of jobs with increasing demand across industries .
How to increase your data analyst salary
Let’s look at some of the factors that can influence your salary as a data analyst so that we can see if there are some ways for you to increase your salary.
1. Learn new data analytics skills.
There is often a high demand for skilled technicians in the field of data analytics. According to Payscale.com, a job listing site, the following five skills are associated with salary increases: : Visual data analysis software JMP (JMP Statistical Software) Database architecture Looker (Business Intelligence Platform) Natural language processing (NLP) Bioinformatics Weighing the skills needed for companies in which you’re interested can provide you with an idea of what those companies require. When a skill appears at the top of a job listing as well as being repeated, it makes sense that a company prioritizes it. applying for a job, make sure you include both your resume and cover letter that particular skill from your skill set.
2. Earn a certification or an advanced degree.
Getting a job as a data analyst is not always reliant on having a degree. However, bachelor’s degrees are more common than other entry-level qualifications. You may also be able to increase your earning potential (and job prospects) by pursuing a master’s degree or certification. The average salary for data analysts with a master’s in analytics or other computer science fields is some $15,000 higher than the average salary for analysts with only a bachelor’s. The cost of professional certifications and certifications can be as much as 1/3 that of a college degree for employers. General certifications in data analytics or databases, as well as vendor-specific ones in Microsoft Azure or SAS technologies, generally fall into one of two categories. Make sure you check job advertisements for certification requirements and suggested certifications before embarking on your certification journey.
3. Negotiate your job offer.
The survey by Glassdoor (9) shows that three out of seven employees accepted their most recent salary without negotiating. One way you might be able to increase your salary is to inquire whether you’re allowed to negotiate. Research how much others earn as data analysts and what you may expect in cash compensation based on your location, experience, and available jobs when applying. Most job listing websites have estimator tools to help you figure out your salary. Knowing your worth (and a realistic salary range) will help you negotiate more effectively when you receive a job offer. On the Coursera blog, you’ll find additional advice on negotiating your salary.
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