The Indian IT industry generates a big portion of its business courtesy data analytics. Indian firms have nearly unfilled 90,000 job vacancies, making it the second biggest analytics job hub after the US.
The figure marks 76% increase in comparison to the previous year. As the data becomes the new oil, the openings in data science and analytics market are significantly growing in the country. A recent study by Edvancer and Analytics Magazine India reveals the potential of data science jobs in India.
Aatash Shah, Edvancer’s co-founder, and CEO said, “With artificial intelligence disrupting almost all industries, demand for skill sets in data science, machine learning, and analytics is increasing at a very fast pace. Job creation in other sectors, especially IT, has slowed down and this makes it imperative for people to now re-skill themselves in emerging new technologies…if they have to remain relevant to employers.”
As the value of data increases, the jobs that don’t exist today will start mushrooming. Geographically speaking, most of these data science and analytics jobs can be found in Bengaluru. The IT hub in southern India accounts for 27% of data science job roles, which is a great improvement the last year.
Startups in the Tier-II cities are also creating a mass number of job roles in data science and analytics. These cities have marked a huge uptick 7% to 14% between 2017 and 2018. As startups operate out of these locations, new jobs are getting created.
Openings in data science category spread across sectors hospitality and automobile to finance. Even the industrial sectors are creating a large number of data science related roles. Data suggests that 41% of these roles are in banking and financial sector and 15% are in energy and utility sector.
The median salary for analytics roles in India is Rs 10.8 lakh. Over 27% of employees working in data science roles earn between Rs 6 to 10 lakh range. Most of these jobs require a post-graduate degree while 48% of employees have reported holding just a bachelor’s of engineering.