A data analyst is a professional who uses data to acquire information about specific topics or problems. These professionals collect, clean, and interpret data sets with a number of skills and tools. Some of them are statistics, programming languages, SQL, and data visualization, to name a few. The salary of a data analyst depends on a lot of factors that we will discuss in this article. Read on to know more.
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The role of a data analyst in Excel
A data analyst presents the findings and insights from the data analysis to various audiences, like clients, stakeholders, and managers. Microsoft Excel is one of the most common and popular data analysts use for data analysis. This app allows data analysts to perform various tasks that are listed below.
- Data entry and manipulation
Data analysts can enter and edit data in Excel using cells, rows, columns, and tables. Apart from this, they can use formulas, functions, and filters to manipulate and organize data in Excel.
- Data analysis and calculation
Data analysts can perform various types of data analysis and calculation in Excel using different features, like pivot tables, charts, graphs, conditional formatting, and data validation.
In addition, they can use add-ins or macros to extend the functionality of Excel for data analysis.
- Data visualization and reporting
Data analysts can create various types of data visualization and reporting in Excel using features such as charts, graphs, sparklines, slicers, and dashboards. They can use formatting, styles, and themes to enhance the appearance and readability of the data visualization and reporting in Excel.
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Factors that influence the salary of data analysts
Given below are the factors that may affect a data analyst’s salary.
- Experience
Experience is one of the most important factors that affect the salary of data analysts in India. Generally, the more experience a data analyst has, the higher the salary they can expect.
According to PayScale, the average salary of a data analyst with less than 1 year of experience is around ₹392k per year. On the other hand, the average salary of a data analyst with 10 or more years of experience is around ₹1m per year.
- Education
Education is another factor that affects the salary of data analysts in India. Generally, the higher the education level, the higher the salary they can expect.
According to PayScale, a data analyst with a bachelor’s degree salary is around ₹491k per year. On the other hand, the average salary of a data analyst with a master’s degree is around ₹671k per year.
- Location
Location is another factor that affects the salary of data analysts in India. Generally, the salary of data analysts varies based on the city or state they work in.
According to PayScale, the average salary of a data analyst in Bangalore and Chennai is ₹583k per year and ₹403k per year, respectively.
- Industry
The industry is another factor that affects the salary of data analysts in India. In general, the salary of data analysts varies based on the industry or sector they work in.
According to PayScale, the average salary of a data analyst in IT services is around ₹489k per year. On the other hand, the average salary of a data analyst in banking is around ₹574k per year.
Tips to increase your salary as a data analyst in Excel
Now, let’s discuss a few tips that may help you increase your salary as a data analyst in Excel.
- Improve your skills and knowledge
You can enhance your skills and knowledge by taking online courses, reading books and blogs, attending workshops and webinars, and joining professional networks and communities.
Apart from this, you can seek feedback and mentorship from senior data analysts or experts in your field. This is how you can demonstrate your value and expertise to your current or potential employers and negotiate for higher pay.
- Get certified or accredited
You can boost your credibility and marketability through certification or accreditation. For instance, you can get certified by Microsoft as a Microsoft Office Specialist (MOS) or a Microsoft Certified Solutions Expert (MCSE) in Data Management and Analytics.
As an alternative, you can get accredited by the Institute of Analytics Professionals of India (IAPA) as a Certified Analytics Professional (CAP) or a Senior Certified Analytics Professional (SCAP).
You can showcase your proficiency and competence in Excel and other data analysis tools and techniques with proper certification.
- Update your resume and portfolio
You can update your resume and portfolio to highlight your new achievements and accomplishments in this field. For instance, you can use quantifiable metrics and examples to showcase the impact and value of your work.
Make sure to use keywords and phrases that match the job description and requirements of your target employers. If you take this approach, you can attract more attention and interest from recruiters and hiring managers.
Data Science Placement Success Story
- Expand your network
You can expand your network by getting in touch with other data analysts and professionals in your field. For instance, you can use LinkedIn, Twitter, Facebook, and Meetup to join groups, follow influencers, participate in discussions, and share insights.
Data Science Placement Success Story
Apart from this, you can attend events like conferences, seminars, and hackathons to meet new people, learn new things, and exchange ideas
- Negotiate your salary
You can negotiate your salary by researching the market rate and salary range for your role, skills, experience, location, and industry. You can use sources like PayScale, AmbitionBox, and Glassdoor to find the average salary for data analysts in Excel in India.
In the same way, you can use factors like your performance reviews, feedback, recognitions, and awards to justify your salary expectations and requests. This is how you can communicate your worth and potential to your current or potential employers.
In short, the salary of a data analyst in Excel is not fixed. Instead, the salary varies based on many factors that influence the demand and supply of data analysts in different markets. In addition, you need to consider these factors when you want to estimate your potential salary as a data analyst in Excel. Hope this helps.
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