A lot of successful data analytics professionals are required to wear many hats. Organizations in all industries depend on data for their decision-making processes. Data helps them to identify business inefficiencies that need to be addressed.
Data analytics experts are like a Swiss army knife. That’s because these experts aren’t just a subset of information technology. They are also found in different departments across many organizations. This serves to make them more marketable and valuable.
The good news for these data experts is that job opportunities keep growing. In fact, it’s estimated that more than 150 zettabytes of data will need analysis by 2025. This will create thousands of data analyst jobs in the United Kingdom and other parts of the world.
Data experts know how to leverage data in helping organizations make better decisions. As such, the demand for data analytics jobs has continued to command higher salaries.
How to Earn Over $100k as a Data Analyst?
Big data analytics professionals use mathematics and analytical methods to transform data into better data-driven decisions.
As the amount of data available to organizations increases, so does the demand for data analyst jobs. And yes, data analysts get paid well for their expertise.
In this article, you’ll learn how factors like experience and education impact data analysts’ salaries. If you’re interested in advancing your career as a data analyst, you’ll find ways of boosting your earning potential.
- Pursue an Advanced Degree or Certification
Organizations are having a hard time finding qualified people with the right mix of education, skills, and experience. This is why data analyst salaries have become so competitive.
As an entry-level data analyst, you should have a bachelor’s degree in STEM subjects – Science, Technology, Engineering, and Mathematics. You must, however, note that pursuing an advanced degree will fast-track you to a promotion and a higher salary. In fact, according to IBM, advanced data analytics jobs require either a master’s degree or professional certification courses for data science.
Seek out a program with a focus on predictive analytics, databases, modelling, science, and mathematics. That is what will equip you with a deep understanding of the mechanics of working with data. It will also provide you with the capacity to identify and communicate data-driven insights to influence decision-making.
Mastering STEM-designated programs will help you to gain exposure to:
- Data mining
- Multivariate testing
- Predictive modelling
- Statistical and quantitative analysis
There’s a definite trend in obtaining formal degrees in data analytics. Thus, if you’re interested in marketing yourself in this field, having a master’s degree or a doctorate is highly preferred. That’s especially if you want a job in top-tier organizations that pay the highest salaries.
- Explore Job Options to Build Network and Experience
Even with an education, there are steps that you should take to boost your earning potential. Start by gaining hands-on experience through internships or project-based roles. These experiences will help you earn a higher salary as a new data professional. That’s because you already have the skills and knowledge required.
You can also research organizations and job openings in OnlyDataJobs, as well as in your location. Network with professionals in the industry to see what opportunities are available. Having real work experience and tangible projects is a must for employers to increase your salary.
Showing a potential employer how you brought value to your previous work or to certain projects is also important. That’s because it’s one of the best ways of justifying a salary increase.
Gain more visibility by getting involved in your local analytics community. This could lead to inquiries from headhunters with jobs that can boost your salary. Research local groups on networking sites.
- Master the Right Skills
Keep in mind that the skills that are in demand today will most likely not be in demand tomorrow. That’s why you must keep tabs on industry trends and stay updated on the latest skills. You must gain skills in:
- Data mining
- Statistical Programming
- Econometrics
- Statistical visualization
The above skills can significantly increase your marketability and salary. Acquiring additional programming skills such as Python can also increase your earning potential.
Being in possession of in-demand skills will place you in a better position to ask for higher pay. A degree will certainly give you a lot of knowledge. You’ll also get the skills needed as a data analyst. You can also enrol for an online data science course if you’d like to expand your skill set.
- Avoid Selling Yourself Short
You may already be employed and are seeking a promotion or an increase in pay. If that’s the case, arm yourself for that conversation with your manager.
There are variations of salary calculators and resources that you can use to check how your compensation stacks up in the market. These resources are important if you’re to have the most productive conversation with your hiring manager.
In cases where you have to negotiate for higher pay, feel free to present your research during the salary discussion. That is part of what will help to strengthen your case. Having an understanding of what industry peers in your location are making is extremely important. It will help you know whether your compensation is up to par.
Conclusion
There’s no shortage of opportunities for big data analytics in the job market. With more organizations relying on data for decision-making purposes, the demand for skilled data experts has continued to rise.
If you think a data analytics job is right for you, find ways of preparing yourself to break into the field. You can then build a successful and high-paying career.
As indicated in the article, there are ways you can kickstart your career and increase your earning potential. If you want to take the next step in your career, take advantage of these steps to develop your skills. That is what will help you to increase your salary.