In a recent study conducted by Edvancer Eduventures in association with Analytics India Magazine, it came to notice that approximately 50,000 positions in the field of data analytics are currently vacant in India. This overwhelming number is set to increase by almost 70-80 per cent in 2018.
The study, Analytics & Data Science India Jobs Study 2017, has shed light on the different between the demand and supply of analytics professionals. There is a massive shortage of skilled and trained professionals in the field of data analytics. The Founder & CEO of Edvancer said that since 2016, the job opportunities in analytics space has doubled; in 2016, there was a demand of 20,000-25,000 analytics professionals, which rose to 50,000 this year as mentioned earlier.
City-wise demand of analytics professionals
- The IT city of India, Bengaluru, tops the chart with 25 per cent of vacant data analytics job, coming from its multiple organizations, including startups.
- The second city to offer the most number of jobs in this space is Delhi-NCR.
- The third city to have a high demand of data analytics job is Mumbai; it offer 17 per cent of the total analytics jobs. Compared to the last year, Mumbai has shown an increase of 2 per cent in job creation in the field of data analytics.
- The fourth and fifth rank are taken by Hyderabad and Pune respectively with just a slight difference in the number of job opportunities.
- Chennai follows on the sixth spot. Ahmedabad and Kolkata are two other metros facing crunch of skilled analytics professionals.
Industry-wise demand of analytics professionals
- Banking and financial sector demand the highest number of skilled data analytics specialists with close to 47 per cent job openings coming from banks, accountancy companies, consumer-finance companies, and trading firms.
- The three other topmost sectors with a high number of analytics job opportunities are- ecommerce, pharmaceuticals & health care and energy & utilities.
- The media & entertainment sector had 3 per cent of the total data analytics jobs in 2016 and this figure increased to 7 per cent in the first half of 2017.
- Similarly, telecom industry witnessed a rise in the number of the analytics jobs in comparison to 2016 when it accounted for only 3 per cent of the total data analytics jobs. Currently, it stands at 5 per cent of the overall jobs in this field.
- Retail sector and automobile industry closely follow telecom. Presently, the travel and hospitality sector accounts for only 2 per cent of the total number of analytics jobs but even it has shown an increase in comparison to year 2016.
Salaries in Data Analytics
The study reported that the average salary for the advertised data analytics vacancies in India is around Rs. 10.5 lakh per annum. It also highlighted the fact that the freshers in this field can also withdraw a package of Rs. 6 lakhs per annum. It further added that 28 per cent of all the data analytics jobs offer annual salary between Rs. 6 lakhs to Rs. 10 lakhs whereas 24 per cent of such jobs offer a lesser salary between Rs. 3 lakh to Rs. 6 lakh, depending on the company and skills required for the publicized job.
The on-the-job-training enhances one’s skills and with a few years of experience, the candidate can aim for almost double of his or her starting package.
Experience-based hiring statistics
25 per cent of the candidates that are hired for the current available analytics jobs fall under the category of 2 to 5 years of experience in this field. 19 per cent of fresh hires have a year’s experience in data analytics while 17 per cent of the all the hired candidates are absolute freshers.22 per cent of the hired candidates showcase 5 to 7 years of experience in this field. Those who have an experience of 7 to 10 years in data analytics account for 10 per cent of the total jobs. Less than 2 per cent of the current professionals have more than 15 years of experience.
The study said, “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.”
Organizations with highest analytics jobs in 2017
The study reported that the ten leading organizations with the most number of analytics job openings in 2017 are:
- Citi Bank
- Goldman Sachs
- JPMorgan Chase
In-demand Analytic Skills and Tools
Statistical computing and graphic language R is the most demanded analytical tool followed by Python, Hadoop, SAAS, Spark, TABLEAU, SPSS, QLIKVIEW, respectively.