Highest Paying Countries For Data Analysts
A data analyst is responsible for collecting, cleaning, and analyzing data that can be used to improve business decisions. They must be able to effectively communicate their findings to those who will make the decisions.
Data analysis has become one of the highest in-demand jobs worldwide. Data analysts are sought after by the world’s biggest organizations. In this article on ‘What Do Data Analysts Do‘ let us take a look at all the aspects related to this job role. Data analytics is a fast-growing field and it will continue to grow over the next decade.
The U.S. Bureau of Labor Statistics (BLS) estimates 22% growth through 2030, which is considered much faster than average.
What Is Data Analysis?
Data analysis is concerned with the transformation of raw data into meaningful statistics, information, and explanations. The procedure helps reduce the risks inherent in decision-making by providing useful insights and statistics. Data analysis tools assist you in uncovering key insights that lead to better-informed and successful business decisions.
Who Is A Data Analyst?
A data analyst is someone who looks at a large amount of data and turns it into useful information to help people, businesses, and organizations make better decisions. They bring technical expertise to ensure the quality and accuracy of that data, then process, design, and present it in ways that help people understand it more effectively.
Types of Data Analyst
There are different types of data analysts and so, provides a broader scope for a data analyst to create his niche. These include:
- Business analyst
- Intelligent Analyst
- Market research Analyst
- Operation Research Analyst
- Business Intelligence Analyst
- Medical & Healthcare Analyst
Tools for Data Analysts
These are some common tools and software a data analyst must master to be efficient in the job. These include:
- SPSS and VBA
- Microsoft Excel
- SAS software
- Google Analytics
- Jupyter Notebooks
- Microsoft Power BI
- Google Tag Manager
- Google AdWords
What Does A Data Analyst Do: Job Description of a Data Analyst
There are various roles these professionals play in the organization. In a broader view, the job description of a data analyst typically includes:
- Analyzing data sets to find ways to solve problems relating to a business’s customers.
- Communicating information to management and other stakeholders.
- Turning raw data into information and insight for the management to make decisions.
- Developing and maintaining databases, and data systems, and performing analysis to assess the quality and meaning of data.
Data Analysis Key Skills
There is a set of skills you must develop and possess to excel in the role. Data analysis makes use of a range of analysis tools and technologies. Some of the top skills for data analysts include SQL, data visualization, statistical programming languages (like R and Python), machine learning, and spreadsheets. Others include but are not limited to:
- Attention to details
- Teamwork & communication skills
- Proven working experience in data analysis.
- Adept at using data processing platforms like Hadoop and Apache Spark.
- Strong mathematical skills to help collect, measure, organize, and analyze data.
- Proficiency in statistics and statistical packages like Excel, SPSS, and SAS to be used for data set analysis.
What is the Salary for a Data Analyst?
The average annual salary of data analysts in the United States is $79,566.The average pay is reported by other sources to be between $60,000 and $70,000, including Payscale and Glassdoor. Data analysts self-report self-reported data from various sources across different companies could account for the discrepancies in their salaries.
Job Prospects for a Data Analyst
There is no shortage of jobs for data analysts in whichever location you are. A data analyst career is a rewarding journey to embark on, irrespective of the industry you choose to work in.
Top Companies For Data Analysts
Business intelligence companies have the highest number of job openings for data analysts. Finance, sharing economy services, healthcare, and entertainment companies hire financial analysts in their organizations. Some of the top global companies hiring data analysts include:
- search Apple
- CISCO Systems
- Focus KPI
- Affinity Solutions
- Norgate Technology
How to Become a Data Analyst
If you’re looking for a career in data analytics, you’ll need a degree in the field or related field. You can begin a data analytics career with a degree in mathematics, statistics or economics. An associate degree is a great way to get your foot in the door.
A master’s in data analytics can further your career, exploring how to use data to make predictions and how data relates to risk management. Finding an internship during your studies can give you essential hands-on experience that will stand out when applying for jobs as a data analyst.
We compiled the list of the highest-paying countries for data analysts because the demand for data analysts has outnumbered the supply globally. This indicates that companies are willing to pay high salaries to fill available positions. Here are some of your alternatives if you’re looking for the best country to work as a data analyst in the world.
Data analysts working in Italy earns a monthly compensation of EUR5,840 as salary, and up to US$60,000 every year. The salary range is from EUR3,840 to EUR8,930.
Australia pays one of the highest salaries to data analysts in the world. The average salary of a data analyst in Australia amounts to AU$ 92450. The total yearly compensation salary of data professionals in the country rests at US$111,000.
A data analyst in Japan earns up to JPY825,000 every month and can earn as much as JPY1,270,000 a year. The total annual compensation salary for data scientists in Japan sits at US$70,000 for entry-level positions.
Tel Aviv is an emerging IT hub that creates job opportunities for entry-level data analysts and experienced ones. The total yearly compensation salary of data professionals operating in Israel is US$88,000, according to a survey by the Tel Aviv Chamber of Commerce (TCC).
The total yearly salary of data professionals in Canada is US$81,000, which is around US$43.70 per hour. The salary of a beginner starts from US$77,870, which amounts to US$117,750 per year.
The total annual compensation salary for Data Analysts in the Netherlands amounts to US$75,000, making it one of the highest-paying countries for data analysts in the world.
Germany has some of the best automakers and manufacturers, including Volkswagen and BMW. The average salary is around €114,155 per annum. A person working as a data scientist in Germany receives up to EUR5, 960 per month. The salaries of data scientists in Germany range from EUR2,740 to EUR9,470. This marks one of the highest numbers in salary for data scientists.
Bengaluru, India’s analytics capital, has the highest per capita wage in the country with an average salary of Rs. 12 lahks per annum. State government, startups, and tech giants are contributing significantly to the total growth of the sector. The average Salary is Rs. 10,000 per year, according to the state government.
9. United States of America
The US is one of the highest-paid countries for data scientists with the Silicon Valley becoming a hotspot for Data analysts all across the world. The average salary for data analysts in the US is $132,355 per annum, making it one of the highest compared to other countries in the world. San Jose is the international headquarters and primary office of the bulk of American tech businesses and offers a plethora of high-paying career prospects.
Geneva is one of the top-paying cities for data analysts in the world. The average salary is around 200,000 per annum. If you happen to secure a job as a Data Analyst, consider yourself lucky.
11. London, United Kingdom
London is one of Europe’s top destinations for high-paying data analysts. The average salary of a data analyst is around £62,771 per annum. The salary amount for junior data scientists starts from £25,000 to £30,000 whereas the amount rises to £62,771 based on the years of experience of an individual data scientist.
How To Land The Best Data Analyst Salary
With more people recognizing the lucrative and exciting industry of data analysis, roles are becoming more competitive. Receiving adequate training is essential for ensuring your success as a data analyst. Getting certified in this field can be a great way to learn the skills you need, while also adding an impressive credential to your resume.
Learn all the skills needed to master data analysis, but be fully prepared to accelerate your career as a data analyst, and not to forget land the best data analyst salaries out there!
Key Tips To Land The Best Paying Data Analyst Salary
- Get Certified
- Pick the right location
- know your worth
- consider specializing
It’s important to consider that while this list is based on averages for various countries as a whole, they will also vary considerably based on the cities.