Data science is a dynamic field. With digital transformation taking over the world, newer technologies are developed every year. Also, the demand for big data professionals has shot through the roof. Most data analytics job vacancies created nowadays make people a ton of money (because of the high-demand low-supply algorithm). These job opportunities are expected to continue to expand even beyond 2022.
According to reports, about 70% of data science and analytics-related jobs require less than five years of experience. In this blog, we highlight the highest-paying data analytics jobs in 2022.
They identify the patterns and anomalies in data sets, leading to the development of algorithms that can manipulate data for better insights. This role requires technical knowledge in data structure and programming languages such as SQL and Python. Entry-level data engineering earns you around $43,000 a year, which increases to about $115,000 as your experience grows.
Financial analysts understand and map the impact of stocks, investments, bonds, and business trends. This helps them advise businesses and organizations (banks, insurance companies, hedge funds, etc.). In the US, they start with an average salary of $73k a year.
Business intelligence analysts assess data from organizations to help companies improve their internal processes and operations. Like financial analysts, the role of a business analyst would earn you about $85k a year in the US.
Healthcare consultants (or healthcare analysts) gather and analyze data from electronic health records, financial reports, patient surveys, and wearable devices. This helps enhance patient care and how health organizations function as a whole. They start at an average salary of $79K in the US.
Typically, market analysts collect and analyze consumer and competitor data. They may do this for several reasons. For instance, their work might help build sales strategies or create new products and services. Market analyst roles are fairly common stock in the US, with an average annual income of just under $60K.
A systems analyst uses business data to explore and enhance how an organizations IT infrastructure works and how well it aligns with its business needs. They analyze software, hardware, and user data to help improve protocols and write new ones. They earn, on average, $86K in the US.
Other job roles that you may consider are Database Administrators, Data Architect, Data Scientists, and Operations Analysts.
These industries pay the highest salaries: hardware and networking, finance, software, IT services, entertainment, energy and mining, wellness, retail, manufacturing, and healthcare.
To bag a decent job as a data analyst, you must know your worth. Aim for a high-paying job and negotiate your terms and conditions. Also, it will help if you specialize in analytical skills that can help you grow in the industry. Even though a beginner data analytics salary would be around $56k, it can increase to $62k with experience.
You should aim to acquire as much experience as you can after your studies to land a high-paying job. You may also get in touch with experts to discuss your career options and see which field of data analytics suits you the best.
Get in touch with us at Cogent University to know more about job roles, the key responsibilities of each of these roles, and how to ace them!