Nationwide, data analysts make between about $37k – $90k annually with a median salary of around $66,912. This high earning potential has been due to the need for data analytics expertise across all industry sectors. Most companies are seeking to hire existing employees to supplement their current data analyst workforce and pay them more.
When you are hired as a data analyst, it is expected that you will use data to analyze and make decisions. Many data analysts spend the bulk of their time sifting through large amounts of information, which often means they must be skilled in several different computer programs. Data analysts are expected to have a Bachelor’s degree or higher from a university, college, or trade school specializing in computer science, statistics, math, engineering, information technology, business, and communications.
The data analyst salary is based largely on the amount of work they do. Typically, the company will pay the majority of your salary as a commission on the products or services they purchase using the data analysis you provide. Although the salary you receive will depend on a number of factors, including experience, educational background, industry and geographic area, many companies will include some type of incentive or bonus into the package. The more work experience you have, the higher your salary will be.
You may be required to do basic research for a company’s data analysis requirements and provide analysis services to specific clients. Data analysts are typically required to complete at least five projects a month in order to maintain their job responsibilities.
As part of your data analyst salary, you are likely to get an annual performance review. Performance reviews are intended to ensure that you are accurately reflecting your skills and knowledge. The review process typically includes evaluating a variety of skills, such as ability to generate reports, communicate effectively and interact with clients. In addition, they will examine the quality of your work, determine how well you communicate and provide recommendations to your supervisors, and assess your knowledge base.
Data analyst salary is likely to vary depending on your industry and the company that you work for. Salaries usually depend on the size of the organization, the size of the data team, industry, the location of the company, level, and experience level, company requirements, and location, and any other specialties, including the area of specialization you hold. In general, the bigger the company, the higher your salary.