Data analytics is one of the fastest growing fields today. As companies accumulate more and more data, they need professionals who can analyze and interpret that data to derive actionable insights. One such role that is gaining popularity is that of the insights data analyst.
Insights data analysts are responsible for collecting, cleaning and organizing data from various sources. They then perform statistical analysis and modeling to uncover trends, patterns and insights that can help shape business strategy and decisions. Their findings and recommendations are presented to stakeholders using data visualizations like charts, graphs and dashboards.
But what is the typical salary range for insights data analysts? Let’s take a closer look.
Salary Range for Insights Data Analysts
According to PayScale, the average base salary for an insights data analyst in the United States is $67,024 per year. With bonuses and other compensation added, the total pay can range from $55,000 to $90,000 annually.
Here’s a breakdown of the typical salary range:
- Entry Level (0-1 years experience): $48,000 – $65,000
- Early Career (1-4 years): $55,000 – $75,000
- Mid-Career (5-9 years): $65,000 – $95,000
- Experienced (10-19 years): $78,000 – $115,000
- Late Career (20+ years): $95,000+
As you can see, there is significant earning potential as insights analysts advance in their careers and gain more experience. Those with specialized skills or working in high demand industries like technology or finance also tend to earn higher salaries.
Factors That Influence Salary
There are several factors that impact how much an insights data analyst gets paid. Some of the key factors include:
Location
Salaries vary significantly based on geographic location. Insights analysts in expensive metro areas and tech hubs tend to earn higher salaries. According to PayScale, the highest average salaries are in cities like:
- San Francisco, CA: $104,615
- Seattle, WA: $92,389
- New York, NY: $91,536
- Boston, MA: $83,033
Analysts in lower cost-of-living cities and rural areas have lower earning potential. For example, average salaries in places like:
- Kansas City, MO: $66,042
- Atlanta, GA: $65,299
- Dallas, TX: $64,743
Industry
Salaries also differ substantially based on the industry. According to PayScale, insights analysts in high-paying sectors like investment banking, management consulting and computer software have average salaries over $85,000. Meanwhile, those in academia, non-profits and retail earn closer to $60,000 on average.
Experience Level
As shown in the salary ranges earlier, insights analysts with more experience and seniority tend to earn higher salaries. Entry-level analysts often start below $60,000, while late-career analysts with 20+ years experience can make over $100,000.
Education
Most insights analyst positions require at least a bachelor’s degree, preferably in a quantitative field like statistics, math, economics or computer science. Analysts who hold a master’s degree tend to qualify for higher paying roles and command higher salaries.
Certifications
Having certifications can boost credibility and demonstrate advanced data analysis skills. Some of the most valuable certs include:
- Certified Analytics Professional (CAP)
- Google Analytics Individual Qualification (GAIQ)
- Tableau Desktop Certified Associate
- Microsoft Certified: Azure Data Scientist Associate
- Cloudera Certified Associate Data Analyst
Job Growth and Outlook
The job outlook for insights data analysts looks very strong. According to the U.S. Bureau of Labor Statistics (BLS), demand for all data analytics related roles will grow by 25% from 2020 to 2030, much faster than average across all occupations.
This high growth is fueled by the exponential increase in data across nearly every industry and function. As the volume and complexity of data rises, companies will need more insights analysts to make sense of it all.
Plus, insights derived from analytics are becoming more vital for driving competitive advantage and bottom-line results. This will further boost demand for qualified analysts who can effectively mine data for powerful insights.
How to Earn a Higher Salary
For insights analysts who want to maximize their earning potential, here are some tips:
- Get certified in popular data analytics programs like Tableau, Python, R, SQL, etc.
- Obtain a master’s degree in analytics, data science or a related quantitative field.
- Gain experience with trendy big data tools like Hadoop, Spark, cloud platforms, etc.
- Develop specialized domain expertise in a high-paying industry like finance or technology.
- Learn business acumen skills like communication, strategy and critical thinking.
- Move into management roles like Senior Data Analyst or Analytics Manager.
- Switch jobs regularly (every 2-3 years) to leverage higher salary offers.
- Relocate to large metro areas and tech hubs for the biggest compensation packages.
Conclusion
In summary, the average salary for an insights data analyst in the U.S. is around $67,000 annually. Salaries span from $55,000 for entry level roles up to $95,000+ for highly experienced senior analysts. The highest salaries are found in locations like San Francisco and New York City, in industries like tech and finance, and for those with advanced certifications and education.
With strong demand for data analytics skills, insights analysts have bright job prospects and plenty of opportunity to earn higher salaries, especially if they build the right skillset. The field offers an excellent combination of intellectual challenge, business impact and financial reward.
Location | Average Salary |
---|---|
San Francisco, CA | $104,615 |
Seattle, WA | $92,389 |
New York, NY | $91,536 |
Boston, MA | $83,033 |
Kansas City, MO | $66,042 |
Atlanta, GA | $65,299 |
Dallas, TX | $64,743 |
Valuable Certifications
Certification | Issuing Authority |
---|---|
Certified Analytics Professional (CAP) | INFORMS |
Google Analytics Individual Qualification (GAIQ) | |
Tableau Desktop Certified Associate | Tableau |
Microsoft Certified: Azure Data Scientist Associate | Microsoft |
Cloudera Certified Associate Data Analyst | Cloudera |