The data doesn't lie -
combining analytics skills with your MBA degree is the fast-track to career growth and earning power. We're in the age of big data disruption, with data driving critical business decisions across every industry. This has generated demand for professionals who can blend analytics expertise with strategic business leadership skills.
The Data Behind the Demand
“Information is the oil of the 21st century, and analytics is the combustion engine.” ~ Peter Sondergaard, ex - Senior Vice President at Gartner, Inc.
Take a quick look through LinkedIn job listings, you’ll see a significant demand for analytics skills across various verticals, including marketing, consulting, finance, operations, human resources, etc. According to IBEF, the data analytics industry is projected to create over 11 million jobs by 2026.
Professionals who combine analytics skills with their business acumen are in high demand, commanding top salaries due to the talent gap in this field. We’ve covered more on this below:
The Salary Premiums for Analytics Expertise
The demand for professionals skilled in both analytics and business management is reflected in the salary premiums they command across experience levels and domains.
According to industry data, professionals with analytics skills consistently earn higher average salaries compared to their counterparts without these skills.
Experience-Based Salary Comparison
| Experience Level |
Without Analytics |
With Analytics |
With MBA |
| 0-5 Years |
₹12.6 LPA |
₹15 LPA |
₹18 LPA |
| 5-15 Years |
₹19 LPA |
₹23 LPA |
₹21 LPA |
| 15+ Years |
~₹23 LPA |
~₹30 LPA |
~₹30 LPA |
Source: 6figr
As the table illustrates, the salary premiums for analytics skills are significant across all experience levels.
Domain-Specific Trends
The demand for analytics professionals and the accompanying salary premiums are evident across various industry domains.
Let's examine a few key domains:
Finance
| Domain |
Without Analytics |
With Analytics |
| Finance |
₹21.6 LPA |
₹26.8 LPA |
Source: 6figr
Analytics In Finance Roles
- Informed Decision-making: Analytics equips finance professionals with data-driven insights, enabling them to make informed decisions regarding investments, risk management, & financial planning.
- Performance Tracking: Finance teams utilize analytics to track and analyze financial performance metrics, identifying trends and areas for improvement to optimize financial outcomes.
- Strategic Planning: Analytics aids in strategic planning by providing valuable insights into market trends, competitor analysis, and financial forecasts, guiding long-term business strategies.
Marketing
| Domain |
Without Analytics |
With Analytics |
| Marketing |
₹19.3 LPA |
₹22.4 LPA |
Source: 6figr
Analytics In Marketing Roles
- Targeted Marketing: Analytics empowers marketers to target specific customer segments based on data analysis, enhancing the effectiveness of marketing campaigns and maximizing ROI.
- Campaign Optimization: Marketers use analytics to optimize marketing campaigns by analyzing performance metrics and adjusting strategies in real-time to improve engagement and conversion rates.
- Customer Insights: Analytics provides valuable insights into customer behavior, preferences, and trends, guiding marketing strategies and product development initiatives to better meet customer needs.
Consulting
| Domain |
Without Analytics |
With Analytics |
| Consulting |
₹21.7 LPA |
₹22.7 LPA |
Source: 6figr
Analytics In Consulting Roles
- Data-driven Insights: Analytics provides consultants with valuable insights into market trends, consumer behavior, and industry benchmarks, enabling strategic decisions for clients.
- Performance Evaluation: Consultants use analytics to assess business strategies and operational processes, identifying areas for improvement to enhance performance and competitiveness.
- Problem Solving: Consultants leverage analytics to solve complex business problems, analyzing data to identify root causes, opportunities for improvement, and strategies for achieving client objectives.
Human Resources Management
| Domain |
Without Analytics |
With Analytics |
| HR |
₹19.3 LPA |
₹20.2 LPA |
Source: 6figr
Analytics In HR Roles
- Talent Management: Analytics supports HR professionals in talent acquisition, development, and retention efforts by providing insights into workforce trends, skills gaps, and employee performance.
- Employee Engagement: Analytics helps HR measure and analyze employee engagement levels, identify factors influencing morale and productivity, and implement strategies to enhance employee satisfaction and retention.
- Strategic HR Planning: Analytics assists HR in strategic workforce planning by forecasting future staffing needs, identifying critical skill requirements, and aligning talent strategies with organizational goals.
Why Analytics + MBA is a Winning Combination
The following table shows a clear competitive edge gained through the combination of business expertise & analytics skills:
| Domain |
Without MBA in Analytics |
With MBA in Analytics |
| Sales & Marketing |
₹4-10 lakhs per annum (Entry-level)
₹8-18 lakhs per annum (Mid-level)
₹15 lakhs+ per annum (Senior-level) |
₹6-12 lakhs per annum (Entry-level)
₹10-20 lakhs per annum (Mid-level)
₹20 lakhs+ per annum (Senior-level |
| Finance |
₹6-12 lakhs per annum (Entry-level)
₹12-20 lakhs per annum (Mid-level)
₹20 lakhs+ per annum (Senior-level) |
₹8-15 lakhs per annum (Entry-level)
₹15-25 lakhs per annum (Mid-level)
₹25 lakhs+ per annum (Senior-level) |
| IT & Analytics |
₹6-12 lakhs per annum (Entry-level)
₹12-20 lakhs per annum (Mid-level)
₹20 lakhs+ per annum (Senior-level) |
₹8-15 lakhs per annum (Entry-level)
₹15-25 lakhs per annum (Mid-level)
₹25 lakhs+ per annum (Senior-level) |
Source: Naukri, Glassdoor etc.
If you're a professional keen on honing analytical skills, here's an opportunity to develop a key understanding of business operations, strategy, leadership, and decision-making, alongside core analytics expertise:
IIM Kashipur's Executive MBA (Analytics) is designed to equip working professionals with this interdisciplinary skillset:
Analytics Core
- Excel, SQL, Python
- Statistical analysis, decision modeling
- Data visualization
- Data science, machine learning, econometrics
- Big data management, IT applications
MBA Core
- Organizational behavior, strategic management
- Financial accounting, corporate finance, marketing management
- Operations, supply chain management
- Entrepreneurship, design thinking
- Electives in finance, marketing, communication, economics, IT, operations, strategy
Program Highlights:
- 900 Hours: comprehensive learning
- 6 In-campus immersions
- Blended online + classroom
- Capstones & industry workshops
- IIM alumni status
The
average CTC at IIM Kashipur stands at an impressive
~₹16 LPA, with the
highest domestic CTC reaching
₹31.5 LPA. Notably, the
top 25% of students at the institute command an
average CTC of
₹15.82 LPA.
Leading global organizations such as
Google,
Amazon,
ICICI Bank, and
Puma are among the prominent recruiters.
With expert faculty, rigorous curriculum and a track record of success,
IIM Kashipur's Executive MBA (Analytics) is the launchpad for professionals to unlock a higher earning potential.
The data is clear - fluency in analytics combined with an MBA is the edge you need.
Click on the link above for more information -
https://cutt.ly/ew3wdu9J