On average, every minute, people send 188 million emails. We view 4.5 million videos from YouTube and send 18.1 million text messages in the same period. Over 2.5 quintillion bytes (2.5 e+9 GB) of data are produced each day.
Data analysts and data scientists are the two hottest technical occupations (and pay huge salaries, too). You can explore a data analyst or data scientist profession if you have analytical thinking and like decoding data to create a narrative.
Even “data scientist” was granted the “Sexiest Job in the 21st century” by Harvard Business Review. Consider the Data Scientist course track if you have more experience or wish to switch from data analyst to data scientist.
Let us examine the comparison of salaries between these two roles to make a successful career for yourself.
Who is a Data Scientist and Data Analyst?
A data scientist can predict the future based on previous trends, and a data analyst can curate significant data insights.
A data analyst solves business issues, whereas a data scientist addresses business issues and those problems that have the most significant commercial value once they have been resolved.
Salary comparison between Data Analyst vs. Data Scientist
For data scientists and data analysts, different levels of experience are needed, resulting in various compensation levels. After acquiring an advanced degree, the two widespread career changes include moving to a developer or data scientist position.
According to the Robert Half Technology (RHT) 2020 Salary Guide, data analysts get potential earnings between $83,750 and $142,500. So, data analysts having more than ten years of experience frequently maximize their earning potential and shift to other employment, according to PayScale.
The Indian average salary for data analysts is Rs. 436,988. The salary of the data analyst at the entry-level in India is, on average, around Rs. 202,000. After nearly a year of experience, India’s average junior data analyst salary is roughly Rs 341,169, including additional pay and bonuses.
On the other hand, in India, the salary for a junior data analyst with one or four years’ experience amounts to Rs. 419,357 per year. The typical 5 to 9 years experience of a data analyst’s income per month can grow to Rs. 52,201, equivalent to about Rs. 685.419 yearly.
An expert in this industry can make an overall annual average of Rs. 928,295 with an experience of 10-19 years. Twenty years and more might get as much as 1,750,000 rs, making the monthly payment for the data analyst around Rs. 145,833.
However, they typically work in databases to raise their salary through extra programming abilities such as R and Python. The earnings of data analytics well exceed a US full-time worker’s typical pay of $47,000. Still, the actual salaries differ dramatically based on the amount of experience.
Zippia indicates that for someone with up to two years of experience and a bachelor’s degree, the average income for the enterprise/data analyst is $54,000. You can expect an average salary of $70,000 after two to four years of employment.
A senior analyst with around six years’ experience earns roughly 88,000 dollars. Still, a specialist can help increase the data analyst’s income by over $100,000.
The salaries of data analysts regularly rise in the first five to 10 years, but raising without expanding skills can prove challenging. It is why many analysts end up moving to work in the fields of data science or engineering.
It is little wonder that data scientists earn far more money than their data analyst competitors. A data analyst’s average compensation relies on what kind of data analyst you’re – financial, market research, and operations analysts.
The average income of market research analysts is $60,570. Operation research analysts make an average of $70,960. A finance analyst gets a mean salary of $74,350 as per the Bureau of Labor Statistics (BLS) salary survey.
BLS expects the job market for analytics to increase by 1/3 to about 131,500 jobs by 2022. A data analyst’s entry-level salary varies between $50,000 and $75,000 and for an experienced data analyst it is between $65,000 & $110,000.
Data scientists – usually graduate with advanced skills and generally with more fabulous experience – are considered senior than data analysts. As such, their work is typically well compensated. The average yearly salary, according to RHT, is between $105,750 and $180,250 pa.
The career path for data science experts is encouraging. It offers numerous options to move to senior roles, such as data architects or data engineers. For data scientists, the average income is $113,436. The average pay for data scientists in the USA and Canada is 122k$, and data science managers who supervise an organization’s data science team earn an average of 176k$.
Data scientists will have more professional skills in advanced programming, data modeling, and machine learning, which justify a salary increase, as indicated by the differences between data analysts and data scientists.
According to the University of Wisconsin, the average data scientist payscale is $113,000, with salaries usually starting from $50,000 to $95,000. The data science survey by O’Reilly shows Spark and Scala’s understanding may provide a $15,000 income bump. At the same time, D3 mastery offers an additional $15,000.
PayScale forecasts that an additional $20,000 plus in yearly salaries is equivalent to five to 10 years experience in the field of data science; 10 to 20 years’ experience means an additional $30,000 in income; above 20 years’ experience means a $55,000 pay increase over time. In the long term, hard work will undoubtedly pay off.
The fields of data analytics and data science are both developing and lucrative, and neither can you go wrong. No matter the similarities and differences between the role of a data analyst and a data scientist, the one without the other are incomplete.
In terms of salary, data scientists are far higher than data analysts because data scientists have a broader and more profound knowledge, particularly in terms of their business ability. Both roles, therefore, appear to have good prospects, and you should rest assured that you will choose any of the positions.