Jobs in data analytics are up for grabs. According to a study by online analytics training institute Edvancer, close to 50,000 job vacancies related to analytics are currently available in India. This is expected to rise to 80,000-100,000 in 2018.
The study, Analytics & Data Science India Jobs Study 2017, was carried out over a period of six months by Analytics India Magazine, in association with Edvancer Eduventures.
Aatash Shah, Founder & CEO, Edvancer Eduventures said that last year, there was a demand for 20,000 to 25,000 analytics professionals last year which has now risen 50,000 in this year.
“There is a huge shortage of skilled talent in the analytics space. Demand is outstripping the current supply,” he added.
According to the study, the median salary being offered by advertised analytics jobs in India is Rs 10.5 lakh per annum. It further said that 28 percent of all analytics jobs offers a salary range of Rs 6 lakh-Rs 10 Lakh. And about 24 percent of the jobs in analytics are ofered a salary of Rs 3 lakh-Rs 6 lakh.
Shah explained that an absolute fresher trained in the analytics space can get a package of Rs 6 lakh per annum. He said that this increases much faster with the years of experience.
In terms of sectors, banking & financial sector continues to be the biggest influencer in analytics job market. About 46 percent of all jobs posted on analytics were from banking sector. A year ago, this stood at 42 percent.
Among companies, the ten leading organisations with the most number of analytics job openings this year are Amazon, Citi, HCL, Goldman Sachs, IBM, JPMorgan Chase, Accenture, KPMG, EY & Capgemini, according to the study.
“Automation, which is the buzzword currently, involves machine-learning and this is a part of data science. This is replacing a lot of traditional jobs,” said Shah. He added that companies want people who can implement it practically and banking is one of the largest users of analytics.
When it comes to other sectors, e-commerce has dipped in terms of analytics jobs this year. About 10 percent of analytics jobs were in the e-commerce sector as opposed to 14 percent a year ago. The media/ entertainment sector, on the other hand, contributes 7 percent of all analytics jobs as opposed to 4 percent a year ago.
Shah said that they are seeing a growth of almost 200 percent every year and there has also been an increase in the number of students being trained every month.
“Compared to worldwide estimates, India contributes just 12 percent of open jobs opening currently. The no. of jobs in India are likely to increase much faster versus the rest of the world as more analytics projects get outsourced to India due to lack of skills across the world,” the study said.
Source: Analytics & Data Science India Jobs Study 2017