Preface
For nine consecutive years, we have embarked on this research expedition, revealing the trends that shape the compensation structure in India’s data and analytics industry. This unique study is the only one of its kind in India that explores the dynamic terrain of data and analytics salaries in such detail.
Overview: The Salary Scenario of 2024
In harmony with the overarching economic downturn, the median salary of data and analytics professionals has seen a dip in 2024 compared to the preceding year. This downward trend is also reflected across various experience levels within the industry.
The Research Design: Our Methodology
Our research traces the median salary distribution in multiple segments, including geographical location, educational background, professional sector, years of experience, and prominent data science roles. The resulting report provides a panoramic view of the salary structures across various roles, sectors, cities, experience levels, and more.
Key Discoveries
Our research unveils a series of critical findings about the data and analytics salary landscape in 2024:
- The median salary of data science professionals decreased by 10% from 16.8 LPA in 2023 to 15.2 LPA in 2024.
- 34% of data analytics professionals earn a salary between 0-6 LPA, followed by 19% in the 6-10 LPA bracket.
- Data architects, with a median salary of 28.5 LPA, earn 1.8 times more than the median salary of an analytics professional.
- Data professionals working with Kubeflow earn on average 1.6 times more than the median salary of a data/analytics professional.
- The median salary of freshers or data & analytics professionals with 3-6 years of experience has dropped by more than 25%.
- There has been a 21% decline in median salary across consumer industries.
- Data professionals in startup analytics firms have seen a 10% increase in the median salary, followed by those in Boutique Analytics firms (8%).
- Data & analytics professionals working in startups earn 1.6 times the benchmark median salary.
- Professionals in Mumbai’s data and analytics industry earn 1.2 times the median salary of their counterparts.
Salary Distribution: A Closer Look
Our exploration of the salary distribution in the data and analytics industry uncovers some intriguing insights:
- 34% of data analytics professionals command a salary between 0-6 LPA.
- The proportion of data and analytics professionals earning between 25-50 LPA has increased by 3.6 percentage points.
- The proportion of data science professionals earning between 0-6 LPA has seen a negligible change.
Salary Trends: Role-wise Dissection
When we examine the salary trends by roles, we find that:
- A data architect earns 1.8 times the median salary of data and analytics professionals.
- A data architect, on average, earns 130% more than a data analyst.
- The median salary of data engineers is 0.9 times less than the median salary of analytics professionals.
Salary Trends: Tools and their Impact
We also studied the impact of various tools on salaries:
- Data professionals working with Kubeflow earn on average 1.6 times more than the median salary of a data/analytics professional.
- In the realm of cloud computing, data/analytics professionals working with GCP earn 1.1 times more than those working with Azure and AWS.
- Professionals working with Matlab earn only 0.9 times the median salary of a data/analytics professional.
Salary Trends: Experience and its Influence
Our research shows that years of experience significantly impact salaries:
- The median salary of freshers or data & analytics professionals with 3-6 years of experience has dropped by more than 25%.
- Data & analytics professionals with 6-10 years of hands-on experience have seen their salaries increase by 16% between 2020 and 2024.
- Data & analytics leaders with over 10 years of experience are earning a median salary of less than 6 LPA compared to the previous year.
Conclusion
Our comprehensive report on the 2024 Data & Analytics Salary Study in India provides a clear picture of the industry’s current financial landscape. As we continue to track these trends, we hope to provide valuable insights to entrepreneurs, industry policymakers, companies, and data science experts alike.