Salaries - MBA in Business Analytics - Freshers and Experienced
Business Analysts work closely with IT & other stakeholders in an organization to derive valuable insights for the business. Their key responsibilities include gathering & analyzing data of an organization. Post this, they are able to recommend changes keeping in mind the organization’s goal. They also maintain documentation and track progress. This ensures the business is on the right track.
As one may have noticed, this job involves coordination with various stakeholders within an organization and further a deeper understanding of the business. To chart a successful career in business analytics, an MBA degree can be gold. An MBA in Business Analytics provides the candidate with an understanding of business & allows for a seamless transition into a career in the same. Given the critical nature of Business Analytics, organizations offer lucrative salaries to the right candidates. Let’s explore a few key positions in business analytics with salaries for both - freshers & experienced.
1. Data Scientist
In today’s world, data is the key. Organizations generate a lot of data however there is an urgent need to make sense of it. Data scientists are responsible for generating insights into this huge volume of data. They structure the data for analysis and discover trends and patterns to begin with. Further, they use visualization tools to ensure the findings align with the organization’s goal.
Fresher Average Salary : 3.8 LPA
Experienced Average Salary : 28 LPA
2. Data Analyst
While from the outside, the roles of data scientist and data analyst might seem similar however there are differences. Data analysts are involved in analyzing and solving critical issues in an organization. They interpret and analyze data using statistical analysis. Pattern recognition and reporting come under the job role of a data analyst.
Fresher Average Salary : 1.8 LPA
Experienced Average Salary : 13 LPA
3. Data Engineer
The data engineer is responsible for developing and maintaining architectures. These architectures need to align with the business requirements. Further, a data engineer is entrusted with developing data acquisition processes, improving data efficiency and reliability, deploying machine learning and statistical methods, performing predictive & prescriptive modeling, and finally engaging the concerned stakeholders to update and explain analytics initiatives.
Fresher Average Salary : 3.5 LPA
Experienced Average Salary : 21 LPA
4. Database Administrator
A database administrator is responsible for tailoring data storage architectures as per business requirements. They also conduct backups and enforce security policies. Providing access to the right data to the right people is another critical function they perform. Given how data is critical in today’s world, this position is critical and needs someone with a sound understanding of end-to-end data handling.
Fresher Average Salary : 4.5 LPA
Experienced Average Salary : 24 LPA
5. Data Architect
Just like an architect who designs a property blueprint, data architects develop a blueprint for an organization’s data management. They provide data engineers with tools and platforms to be able to carry out tests with accuracy and precision. They also handle data migration, optimize systems, design data models, and much more.
Fresher Average Salary : 14.6 LPA
Experienced Average Salary : 50 LPA
6. Analytics Manager
An analytics manager needs to be like a conductor of an orchestra, making sure all the above are in harmony. He oversees the business operations and assigns tasks to respective departments as per the organization’s needs. Analytics managers are well-versed with technologies and need to have good social skills. They not only need to understand business needs but also keep track of the latest trends in the industry.
Fresher Average Salary : 8.8 LPA
Experienced Average Salary : 45 LPA
Conclusion
Analytics is the future. With so many opportunities and a lucrative pay scale, no doubt the competition is fierce. Thus to get an edge, it's crucial one does an MBA in Business Analytics. This program prepares the candidates with an in-depth understanding of business along with hands-on experience. ITM business school offers an MBA in Business Analytics which is the perfect choice for those seeking a high-flying career. Given its excellent track record of churning out business-ready graduates and alumni placed in top organizations across the globe, the choice is pretty simple. Don’t wait, enroll today.