The Analytics Career Timeline
The analytics field is one guaranteed to look different from sector to sector. And, the scope of role within these sectors sees the work of analytics novices a far cry from those sitting at the board table.
Below delves into the career progression of an analytics professional, from graduate to C-suite, and the skills needed for long-term trajectory.
Having a university degree, whether in Data Analytics, Statistics, Science or Mathematics, is a standard requirement for Analytics roles. Most employers will disregard any entry-level applicant without such a degree. Industry experience gained through either internships or work experience, along with additional certifications will further bolster an entry-level CV.
Entry-level job titles include Junior Analyst, Entry Level Analyst, Entry Level Finance Analyst, Data Analyst, Entry Level Research Analyst and Business Analyst. Basically, any job title combing junior, graduate or entry-level with analyst. Beyond a degree, these entry-level positions call for some analytics skills, technical aptitude, interpersonal skills and problem solving confidence. The great thing about entry-level analytics roles is the on the job training provided. Most companies appreciate a graduate’s obvious lack of experience and invest in training their new employees accordingly.
Those entering the analytics workforce can anticipate an average annual salary of £20,984 in the United Kingdom, $60,267 in the United States and between €36,000 and €51,000 in Europe.
Senior Analyst Positions
Unsurprisingly, these senior level positions are labelled appropriately with titles such as Senior Data Analyst, Senior Analyst and Senior Business Analyst. The specifications of a Senior Analyst’s role greatly differ depending on the sector, however two to five-years of experience is a standard requirement.
This is where well-developed SQL, Python, SAS, R and Excel experience is necessary along with demonstrable experience using advanced analytics approaches. Big Four or experience in the Financial Service sector is a bonus.
Moving up from an entry-level salary, Senior Analysts can expect a pay rise with an average annual salary of £36,770 in the United Kingdom, $84,000 in the United States and €41,000 in Europe.
Management Analytics Roles
Taking another step up, management positions in analytics are the natural progression from senior analytics roles. In these positions, employers are beginning to list Machine Learning within the non-negotiable experience required. Beyond cognitive technology, experience with databases, business intelligence tools, open source data and visualization tools are unsurprising requirements. Client facing experience is another must have for many employers.
At management level, employers are looking for examples of professionals transferring analytics into tangible financial or operational business value. A minimum of five years of industry experience is needed at this level.
Analytics Managers can expect an average annual salary of £46,405 in the United Kingdom, $113,540 in the United States and €48,000 in Europe. Those who prefer to bypass management roles can move into consultancy at this point in their analytics career. Consultants can expect an average salary of £49,424 in the United Kingdom, $115,499 in the United States and €48,031in Europe.
Progressing from senior management into a C-suite position sees analytics professionals with job titles such as Chief Analytics Officer (CAO), Chief Data Officer (CDO) and Chief Strategy Officer (CSO). A Head of Data position is a typical step in-between senior management and these C-suite roles. It should be noted that the Chief Analytics Officer job title could also be used at a Senior Analyst level.
C-suite analytics positions have only been on many companies’ radars for a few years in response to the growing need to progress(process?) company-wide data and analytics programs and eliminate departmental silos. At this level, strategic and operational elements combine with the position intended to guide a businesses’ overall decision making.
A Chief Data Officer can expect to be earning six figures(specifics?) in the United Kingdom and Europe, and an average of $174,000 in the United States.
Working in analytics sees progression reflective of most careers. Yet, the main dividing factor when looking from one analytics position to another is the changing scope of the role from sector to sector. Banks, for example, look for completely different analytics and data driven insights in comparison to a healthcare business.
With this in mind, analytics professionals should work to develop their technical and interpersonal skills from the outset and learn how to best translate data into strategic business value. With these skills honed analytics professionals are ready for long-term success.