Info-tech

Start-ups fork out fat pay packets to attract talented data scientists

Anil Urs Bengaluru | Updated on January 20, 2018 Published on February 24, 2016

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Unlike large companies which pay around Rs 9.6 lakhs, Indian start-ups are willing to pay over Rs 10.8 lakhs per annum to attract the best talent in the analytics industry, according to the Analytics and Big Data Salary Report 2016 by Jigsaw Academy and Analytics Vidhya.

The report’s findings were based on data collected from more than 60,000 analytics professionals with advanced analytics/ data science skills.

The report said analysts experience the biggest jump in salaries once they have clocked five 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.

The Analytics & Big Data sector has seen consistent growth over the last five years despite an increasingly uncertain global outlook. The market for advanced analytics is expected to grow at a CAGR of 33.2 per cent and Big Data at a CAGR of 26.4 per cent, almost six to eight times that of the overall IT market.

Commenting on the findings, CEO of Jigsaw Academy Gaurav Vohra said, “The demand for data professionals has grown but a corresponding surge in supply has failed to happen. Experts estimate a shortfall of approximately 200,000 data analysts in India by 2018. The extremely competitive pay scales reflect this incongruity. In 2005 entry-level salaries were around Rs 2-4 lakhs per year but today, pay scales have gone up phenomenally. Demand for big data and analytics professionals is rising because both domestic and international companies are relying on India for the right talent. 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.”

He further added the start-up ecosystem is responsible for the creation of over 30,000 analytics and Big Data jobs every year across India.

Published on February 24, 2016
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