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The Top-Paying Data Analytics Jobs: What You Need to Know

June 18, 2024
An young woman working with multiple screens illustrate data analytics jobs.

Data is the new oil, a brimming gold mine, an untapped treasure trove, and a precious commodity, making itself indispensable to every organisation.

With data increasing every minute, the demand for data analysts is through the roof. The time is ripe for skilled data analysts to climb the career ladder with handsome pay packages. Remember that your choice of data analytics course and where you choose to do it significantly impacts your career trajectory.

Let’s analyse a little more about data analytics jobs before we unveil the highest-paying jobs in this IT field.

What Does the Future Hold For Data Analytics?

Data analytics is the science of analysing raw data to draw conclusions and identify meaningful patterns. By gaining insights from data, companies and organisations can gain a deeper understanding of their target market and industry.

The worldwide data analytics market is expected to grow from $23 billion in 2019 to a significant $133 billion by 2026, leading to intense competition for highly skilled professionals.

What is the reason for this surge in the demand for proficient data analysts? Generally, IT careers are fluid and flexible in nature. They are, therefore, subject to drastic fluctuations. However, that is not the case with data science. Career prospects in this field are steadily increasing, and the number of data analysts, in particular, is expected to grow by 25% by the year 2030.

Basically, the prime responsibility of data analysts is to collate and interpret data into actionable insights that help identify and address specific issues. They are also responsible for:

  • Cleaning the data to preserve its quality on data tools or spreadsheets
  • Saving and collating data
  • Connecting multiple data categories with each other
  • Identifying trends and patterns in data
  • Using charts, graphs, and written reports to explain information to customers and stakeholders.

It comes as no surprise why data scientists are bagging job roles with rewarding salaries. If you want to launch your career in data science, now is the time.

By conducting some research, you can discover a lucrative career path that aligns with your interests and offers opportunities for advancement. Let’s now explore the list of highest paying data analyst jobs that you will want to pursue in your career.

1. Data Architect- 26.9 Lakhs Per Annum

Data architects build suitable data structures and create blueprints and designs for data management and storage systems. As more businesses gather and store their own data, data architecture is a highly sought-after role in data analytics.

To become a well-paid data architect, you need the following skillset:

  • Knowledge of data analysis to build data structures
  • Proficiency in computer engineering, applied mathematics, and statistics.
  • Proficiency in tech architecture, big data development, systems analysis, and programming.
  • Knowledge of SQL and XML for management and organisation of data volumes.

2. IT System Analyst- 14 to 33 Lakhs Per Annum

An IT Systems Analyst evaluates an organisation’s technology infrastructure and business processes to recommend solutions for enhancing efficiency.

Key responsibilities include:

  • Analyses of system requirements
  • Evaluation of vendor products
  • Recommendation for process improvement
  • Supporting system transitions

As far as skills are concerned, IT system analysts should have:

  • Analytical and problem-solving skills
  • Communication skills
  • AI, cloud computing and analytics knowledge

IT systems analysts also require the following educational qualifications:

  • Degree in computer engineering or software development
  • Ability to handle system maintenance, database administration and information system development.

3. Quantitative Analyst- 22.9 Lakhs Per Annum

Quantitative analysts earn one of the highest data analyst job salaries. They use mathematical and statistical methods, relying on objective measurements and numerical data to guide companies in making key decisions.

To master this job profile, you need:

  • A deep understanding of data science and statistical analysis
  • Familiarity with business management and finance.
  • Strong analytical and problem-solving skills
  • Proficiency in engineering, physics or mathematics
  • Experience with such as Python and R
  • Object-Oriented Programming,
  • Big Data Modelling
  • C++, Data Mining, Machine Learning & SQL.

Also Read: Understanding the Types of Data Analytics

4. Data Scientist- 14.4 Lakhs Per Annum

Data scientists are responsible for collecting, cleansing, applying statistical and machine learning models, analysing outcomes, visualising results, and making recommendations to business leaders. They are also responsible for unearthing patterns and trends from the data.

This coveted job requires the following skills:

  • Strong fundamentals in Math, statistics, and computer science with a master’s degree or doctorate in the above subjects.
  • Hands-on experience in crucial data scientist roles
  • Proficiency in programming languages such as Python and R
  • Sometimes, companies seek sector specialists (healthcare, retail, information technology, etc.) to fill high-responsibility positions.

5. Data Engineer- 10.8 Lakhs Per Annum

Data engineers are responsible for building and maintaining data infrastructure for insightful data extraction.

To bag this high-paying job, you need the following skills:

  • Proficiency in programming skills, software development, and statistical analyses
  • Command over programming languages like SQL, JAVA, and Python
  • Ability to handle big technologies like Spark and Hadoop

6. Business Intelligence Analyst- 8.6 Lakhs Per Annum

The role of a business intelligence analyst involves enhancing collaboration and communication between various departments within business management. Their job includes duties such as:

  • Collaboration with high-level managers
  • Mentoring teams with strong business analytics skills.
  • Basically, BI analysts require an MBA degree specialising in analytics. To excel in their job, they should have:

    • Technical expertise
    • Business know-how
    • Expertise in management concepts
    • Ability to handle SAP or Oracle
    • Adeptness in query and reporting analysis software
    • Experience in project coordination and business research

    7. Data Analyst- 6.4 Lakhs Per Annum

    Data analysts are entrusted with a plethora of responsibilities, such as:

    • Manipulation and transformation of data sets
    • Collection, interpretation, and analysis of data to gain actionable insights.
    • Creation of visualisations
    • Trend and pattern analysis
    • Statistical analysis
    • Data mining

    To become an entry-level data analyst, you will need a Bachelor’s degree in statistics, math, or science.

    You will also need aptitude in:

    • Mathematics
    • Logical ability
    • SQL
    • Python
    • Oracle

    Curate Your Data Analyst Career With Aimore Technologies

    The demand for skilled data talent is growing as organisations recognise the value of meaningful insights. They are increasing salaries to attract the best professionals. Aimore Technologies offers Data Analytics courses to provide practical skills for high-paying roles.

    Join Aimore, the best software training institute in Chennai, with placement. Capitalise on this trend and enhance your skills to bag lucrative job offers.

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