The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Mudit Singhal, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur
“This is one of the most exciting times to be alive for data science professionals. We are standing at an inflection point in history, after which analytics and data science will become an integral part of any product or service available,” said Kunal Jain, Founder & CEO of Analytics Vidhya.
As per the Analytics and Big Data Salary Report 2016, Indian startups are willing to shell out above Rs 10.8 LPA as compared to large firms where salaries stand around Rs 9.6 LPA. Both these sectors have witnessed consistent growth over the last five years despite global outlook being increasingly uncertain. Analysts get the maximum salary jump post 5 years of industry experience, with raise in salary as high as 70%, says another report.
The supply of human capital has failed to meet the demands of the industry which is clearly reflected by the competitive pay scales. Looking at the rate at which data is being generated, the demand for data scientists is only going to be on rise in future.
The present scenario only shows a bright future for Analysts and Big Data professionals as both these sectors are going to see tremendous hiring and fat pay packages as companies look forward to attract the best of the talent.