Data analytics is a very profitable career path that always leaves you smiling at the bank. In the United States, the average salary range per year for data analysts is over $70 000. In this article, we’ll be listing the top 10 high-paying careers in data analytics.
Data analytics is the science of analyzing raw data in order to make conclusions about that information. With the services of data analysts, companies get a better understanding of how to make business decisions and predict upcoming circumstances. In other words, you need data analytics to unlock the power to grow your business.
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What is Data Analytics?
Data analytics is the science of analyzing raw data to draw inferences about that information. In recent times, the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
Data analytics is a comprehensive term that encompasses diverse types of data analysis. The practice of data analysis helps reveal trends, metrics, and tons of information that can be used to tweak or optimize processes to increase the overall efficiency of a business or system.
Why Should I Pursue A Career In Data Analytics?
As more companies recognize the importance of data as a source to gain insights and make informed decisions, the duty of a data analyst will always be in high demand. Here are the top 5 reasons why you should pursue a career in data analytics:
#1 It Improves Problem-Solving Skills
According to SAS, data analytics is fundamentally about addressing issues and proposing potential solutions. The only catch is that the problems are considerably larger than you are accustomed to. It protects companies, their employees, and their consumers. The capacity to solve issues efficiently is always a valuable talent.
As a data analyst, your ability to process different information and draw valuable conclusions will be top-notch. Furthermore, it will improve your math skills as you learn and practice numerical analysis. You will also be familiar with graph theory, linear algebra, and applied statistics.
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#2 It provides freelancing opportunities
If you belong to the category of persons that wouldn’t want to be tied to the nine to five lifestyle, then a career in data analytics might just be what you need.
With the changes that occurred in the world in 2020, data analytics is one of the job options that allow you to work as a freelancer and remotely. As a result, no matter where you are on the globe, as long as you have a reliable internet connection, you may start a career in this sector.
#3 The salary is really attractive
Data analyst salaries can differ based on education level, years of experience, industry, location, and skills. While salary averages are constantly fluctuating, the average annual salary for data analysts in the United States is present $70,033 per year.
#4 It makes you a decision maker
In the world of today where data is everything, the majority of the decisions taken by companies are done based on data analyzed. As a data analyst, your input goes beyond working out the calculations, you are there to make valuable inputs to the company by making your voice heard. Therefore, as a data analyst, you have to practice the art of effective communication.
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#5 There’s a high demand
Companies will always need data analysts. In the world of today where businesses thrive on data, organizations spend millions of dollars gathering data. Data gathered are effectively studied and analyzed by data analysts.
Data analyzed by data scientists help companies and businesses make informed decisions.
What Are The Highest Paying Careers In Data Analytics?
Data analytics isn’t a single career path, but a descriptor of a variety of occupations all in a similar realm. With some searching, you’ll be able to find the right occupation for you that’s also high-paying and has room for future growth.
Here is a list of the highest paying careers in data analytics:
1. Data Engineer
Data engineers are responsible for identifying trends and anomalies in data sets. They develop algorithms from scratch that manipulate data for more useful insights and information.
This role requires a lot of technical knowledge in data structure and data manipulation programming languages like SQL and Python. According to Payscale, entry-level data engineers start earning around $77,000 a year and increase to around $115,000 as seniors.
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2. IT Systems Analyst
IT systems analysts—commonly known as technology analysts—focus on designing, implementing, and analyzing different information systems. To become an IT Systems Analyst, you need to have a deep understanding of the various hardware and software components in devices and machines to solve technical issues your company may face.
According to payscale, the average base annual salary of an IT systems analyst is $66,890. The U.S. Bureau of Labor Statistics moves on to state that the demand for IT systems analysts is expected to increase by around 7% over the next decade.
3. Marketing Analyst
Market research analysts are responsible for collecting and analyzing market data using platforms like Google Analytics and BuzzSumo. Not only does this job require experience in data science, but you also need to be good at digital marketing. As more companies go digital, the demand for digital marketing would surely follow.
As an entry-level marketing analyst, you will earn an annual salary of anywhere from $50,000 to $62,000.
4. Quantitative Analyst
Next on our list of high-paying careers in data analytics is Quantitative analyst.
The duty of a quantitative analyst border across quantitative analysis methods that revolves around objective measurement and numerical data collected from polls and surveys to help companies in making key business decisions. This job requires deep-level knowledge of business management and finance.
According to Zip Recruiter, entry-level quantitative analysts can expect to make $50,000 to $70,000 annually. However, since the role is in high demand, you can expect to climb the ladder fairly quickly to over $150,000 for top earners.
5. Data Architect
Data architects create blueprints and designs for data management and storage systems. While this occupation isn’t closely related to extracting insights from data, you need to be familiar with the analysis process to build suitable data structures.
As more organizations collect and manage their own data, data architecture is becoming one of the most sought-after data analytics positions. Recruiter predicts a 15.9 percent rise in demand for data architects over the next several years, and wages will match this need. The typical senior data architect earns slightly under $130,000 per year, according to Glassdoor.
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6. Database Administrator
As a database administrator, you’d be in charge of monitoring and analyzing database architecture and software to guarantee they satisfy your employer’s requirements. This necessitates an extensive understanding of data storage, warehousing, and general structures, as well as expertise with standard coding languages and databases such as Python, Java, MySQL, and MSSQL.
As an entry-level database administrator, you should expect no less than $80,000 a year and can easily earn over $140,000 as a senior.
7. Data Scientists
As a data scientist, you will be in charge of gathering and analyzing huge amounts of data. To segment and prepare databases for in-depth data analysis, you’ll frequently require a thorough grasp of databases and data structures.
According to Glassdoor, a significant portion of entry-level data scientists makes around $90,000 a year, while senior scientists easily make it beyond the $130,000 mark.
8. Business Intelligence Analyst
Business intelligence analysts examine and evaluate a company’s or corporation’s structure and design, searching for methods to make work more efficient and people more productive.
On average, entry-level business analysts earn $67,000 while senior business analysts make almost twice that amount.
9. Operations Analyst
Operations analysts focus on and analyze the internal and external processes of a business to understand how it works. This includes understanding the company’s hierarchy, how different departments communicate and interact, and how the company interacts with eternal works.
As an entry-level analyst, you should expect at least a $60,000 annual salary, while a senior analyst can make just over $70,000 on average—though the top earners often make six figures.
10. Data Analyst
Data analysts work closely with managers and executives of companies and corporations. The duty of a data analyst is to provide data-based recommendations regarding company decisions and how they should run operations. To achieve a successful career as a data analyst, you need to be attentive to every detail and aware of trends and anomalies in data sets.
The average entry-level data analyst makes just under $43,250 but can easily grow into a six-figure income in less than 10 years. In addition, a 2018 survey published by the World Economic Forum estimated that in 2023, 85% of companies would utilize new technologies that drastically increase the need for data analysts.
How To Choose The Right Career In Data Analytics
While income and demand should be considered when deciding which professions to pursue, you should also evaluate your existing data analytics abilities and what new skills you wish to gain.
If you’re a sociable person, specializing in operations or business analytics—where you need to have regular meetings and pitch ideas to managers and executives—might be the right choice for you. However, if you prefer limiting your work hours to your computers and working on a database non-stop, more technical jobs like data architecture and engineering may be a better option
Another factor to consider is geography and whether your local area can accommodate large corporations or if you’d have to transfer locations to find better opportunities. Also, consider whether you can do your work remotely or not, which can affect both your geographical limitations and personal life.
FAQs On High Paying Careers In Data Analytics
Data analytics is the science of analyzing raw data to draw inferences about that information. In recent times, the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
Data Analysis has become one of the most high-in-demand jobs around the world. Data Analysts in the U.S. earn $43,250 annually.
A data analyst is someone who scrutinizes information using data analysis tools. The meaningful results they pull from the raw data help their employers or clients make important decisions by identifying various facts and trends.
The highest-paying career in data analytics is Data Scientists
Conclusion
I hope our list of high-paying careers in data analytics satisfies your search intent.
References
- springboard.com – Highest Paying Data Analytics Jobs
- investopedia.com – Data Analytics
- batimes.com – Compelling Reasons To Pursue A Career In Data Analytics
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