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A study on the hiring trends in the analytics sector in India indicates close to 97,000 positions related to analytics and data science are currently vacant due to a dearth of qualified talent. A majority of these job openings are for junior level roles. The number of unfilled positions has seen a whopping increase of 45 per cent over last year indicating the widening talent gap in the industry, a study by the Great Learning, country’s online ed-tech company revealed.
Experience requirements
This year, companies are boosting entry-level hiring in a bid to create a talent pipeline, keeping with the long-term vision of building deep expertise in the space.
Around 70 per cent of job openings, this year is for candidates with less than 5 years of experience, an increase of 8 per cent over last year. Opportunities for freshers have also increased with openings for them accounting for 21 per cent of analytics jobs, compared to 17 per cent last year. A total of 31 per cent of the job openings in the sector this year are for professionals with over 5 years of experience.
Hari Krishnan Nair, Co-founder, Great Learning said, “A 45 per cent increase in the supply gap in just one year indicates the pace at which businesses are adopting analytics and data-based decision making. In the last few years, many large players have been forced to acquire talent to keep the wind in their sails.”
“At the same time, for those looking to enter the sector, a surplus of jobs is a great opportunity. The need of the hour is for professionals to reskill themselves and get job ready. Companies are also looking inwards to identify talent to capitalize on new opportunities. Here, skill development programs will play a critical role in updating analytics capabilities and preparing the workforce for newer roles,” Nair said.
City wise demand
Accounting for 24 per cent of total analytics jobs, Bengaluru continues to be the hub of analytics professionals. Financial centres like Mumbai, Delhi and Chennai have increased their share of analytics jobs this year with Delhi/ NCR contributing 22 per cent of analytics jobs in India, Mumbai contributing 15 per cent and Chennai 7 per cent.
Salary trends
According to the report, the median salary being offered for analytics jobs in India is Rs 11.5 lakh/ annum. There has been an increase in the number of analytics jobs offering more than Rs 15 lakh/ annum. 23 per cent of all advertised jobs last year were offering more than Rs 15 lakh as opposed to 20 per cent a year ago.
Industry demand
While BFSI and Energy sector continue to be the major job drivers for the analytics industry, e-commerce, pharma and retail sectors have posted strong growth in demand for analytics professionals this year. 38 per cent of all jobs posted are from the banking sector.
Retail has more than doubled its share of jobs to 7 per cent from 2 per cent last year. E-commerce, pharma and automobiles have contributed 12 per cent, 13 per cent and 6 per cent of the jobs respectively. Telecom, on the other hand, has seen the biggest fall in demand with just 4 per cent of job postings as opposed to 8 per cent last year.
