This is the most wanted skill in India’s tech industry right now

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If you are a data scientist in India, then you’re in luck. Indian startups may be willing to shell out upwards of US$16,000 in annual salary to hire you.

In Indian rupee terms, that’s more than a million bucks.

While large companies pay around US$14,000, Indian startups could pay at least US$2,000 more to draw the best talent in data analytics, says a new report titled Analytics and Big Data Salary Report 2016.

The report has been compiled by online analytics school Jigsaw Academy and the community Analytics Vidhya, based on information from more than 60,000 analytics professionals.

The findings indicate that an MBA or even a doctorate may not be able to fetch you the best jobs. They also say it’s a good idea for analysts to sow at least five years in the industry as the benefits can be “astronomical.”

“Analysts experience the biggest jump in salaries once they have clocked five years in the industry, and can expect a raise of up to 70 percent with an average pay of US$17,500 per annum,” the report notes.

The hunt for analysts

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High salaries are a result of demand far outpacing supply. Startups are estimated to create over 30,000 analytics and big data jobs every year across India.

“The demand for data professionals has grown, but a corresponding surge in supply has failed to happen,” Gaurav Vohra, CEO of Jigsaw Academy, said in a press release today. His school has trained over 40,000 students in over 30 countries.

Despite an uncertain global outlook, the sector has seen consistent growth over five years. The market for advanced analytics is expected to grow at 33.2 percent and big data at 26.4 percent, which is almost six to eight times the growth in the IT market, says the report.

What startups say

Key findings