Big Data has taken the IT world by storm. If you’re thinking about switching to Big Data domain or take the first step in your career with Big Data, then we believe that you have made the best decision in your career life. Here’s a guide to Big Data jobs, their prospects, salary compensations and other perks that come with it.
We take it that you are seriously considering a career in Big Data, so we have gathered mounds of information and insights into the current and future direction of Big Data.
Big Data – Future Predictions:
- According to the IDC forecast, the Big Data market is predicted to be worth $46.34 billion by 2018 and is expected to have a sturdy growth across Big Data related infrastructure, software and services over the next five years.
- IDC also predicts that the Big Data technology and the associated services market is expected to grow at a compound annual growth rate of 23.1% over the period of 2014-2019 with annual spending reaching $48.6 billion in 2019.
- Hadoop which has become almost synonymous with Big Data is predicted to grow at 2% CAGR between 2013 and 2020.
- The predictions by IDC are positively optimistic. Adding to this, Alex Rossino, a senior principal research analyst at Deltek, also reports that information security policies and management programs in the federal government are driving agencies to invest in cloud computing and Big Data technologies.
- According to an article published by him, Deltek has forecasted that federal agencies will collectively increase their spending on cloud computing services from $2.4 billion during fiscal 2015 to $6.2 billion by fiscal 2020.
- IDC predicts that by 2020, Big Data analytics will be embedded everywhere and 50% of all business analytics software will include prescriptive analytics.
- IIA predicts that automated data curation and management will free up analysts and data scientists to do more of the work they want to do.
- Forrester says that in 2016, Machine Learning will begin to gradually replace manual data wrangling and data governance.
- Also, vendors will market Machine Learning solutions as a way to make data ingestion, preparation, and discovery quicker.
- According to IDC, by 2020, the spendings on data preparation tools will grow 5x faster than traditional IT-controlled tools.
Big Data Skills for Bigger Paychecks
If you are looking to add Big Data skills to your profile, there are more reasons for you to go for it right now. A new salary survey from O’Reilly shows which skills command a high salary and Big Data is on the very top. According to Indeed, the average salary for Big Data professional is about 114,000 USD per annum, which is about 98% higher than average salaries for all job postings nationwide.
And Glassdoor quotes the median salary for professionals with Big Data expertise to be 104,850 USD per annum and Data Scientists can expect a salary of about $115,000. Forbes also estimates the median advertised salary for professional is 124,000 USD per annum. Here’s the distribution of median salaries across various industries.
It is not just about salary. According to a recent survey, Big Data jobs were the ones with high percentage of hike in salary. Data scientists got a maximum hike of 8.90% from their previous year’s salary.
So, why the increase? More and more companies are using Big Data Analytics to help inform business decisions and are relying on professionals with the right skills to manage and interpret the raw data to gain valuable insights from them.
Here’s the estimated salary for 2016:
Pay Package for Big Data Analytics Professionals:
With the explosion of data, the profile of data analytics has become crucial to many companies. They need more and more skilled professionals to work for them in this field. According to Indeed, Big Data Analytics professionals’ salary is 90% higher than average salaries of other job postings. The above image shows a positive salary trend for Big Data Analytics. Indeed reports the salary for Big Data Analytics professionals to be 110,000 USD per annum.
Itjobswatch, a U.K-based job portal, quotes the average salary for Big Data Analytics to be 65,000 GBP per annum. Doing a short
Demand for Big Data Skills in General:
As the Big Data market grows, so does the demand for skilled workers. Job portals like Indeed, Dice, Glassdoor and many more provide a clear picture about the demand for Big Data jobs. According to WantedAnalytics, a best practice insight and technology company, the Big Data skill was mentioned 112,469 times in the first six months of 2015, representing an increase of a 118% over the previous year. Like Big Data, Hadoop is also an extremely broad area. It was mentioned 31,274 times in the first six months of the year and is growing faster with a 118% growth rate.
Similarly, Textion, a Seattle-based startup has verified the same after studying 500,000 job applications applying for Big Data related jobs.
According to IDG Enterprise Big Data Research, in the next 12-18 months, organizations plan to invest in skill sets necessary for Big Data deployments, including Data Scientists, Data Architects, Data Analysts, Data Visualizers, Research Analysts, and Business Analysts.
Demand for Big Data Analytics Professionals
Experts predict that data analytics will take the center stage as it is becoming more crucial for businesses to forecast and understand the market. 2016 could see the beginning of businesses and massive corporations making data analytics the keystone of their business strategies.
Let’s start with the job trend observed for this particular skill. According to itjobswatch, the demand for the Big Data Analytics skills is on the rise and continue to progress well. The below image proves this statement:
- The number of data scientists has doubled over the last 4 years. This indicates an increasing demand for sophisticated data analysis skills, combining computer programming with statistics.
- At least 52% of data professionals have added data science skills to resume within the last 4 years.
- According to the Bureau of Labor Statistics, the job growth for statisticians is expected to increase by 27% between 2012 and 2022.
- The high-tech industries like IT, Services industry, Internet and Software industries employs 44.9% of the data science professionals, followed by education (8.3%, probably employed mostly by universities), Banking and Financial Services (7.2%), and Marketing and Advertising (5.2%).
- The top ten companies employing data scientists are Microsoft, Facebook, IBM, GlaxoSmithKline, Booz Allen Hamilton, Nielsen, GE, Apple, LinkedIn, and Teradata.
- According to RJMetrics’s report, the top skills are R, Python, machine learning, statistics, SQL, MATLAB, Java, statistical modeling, and C++.
- Predictive Analytics professionals continue to remain in high demand due to the short supply of their quantitative analysis skills.
Big Data Jobs in 2016 and Coming Years
According to Forbes, the top five industries hiring Big Data-related skills are Professional, Scientific and Technical Services, IT, Manufacturing, Finance, Insurance and Retail. The graph below shows the distribution of job openings in the above-mentioned sectors:
Forbes also reports that the demand for sales representatives that are skilled in selling Big Data solutions are going through the roof and will continue to do so into 2016 and upcoming years. Big Data-related jobs like Information Security Analysts, Management Analysts, Management Analysts and Information Security Analyst continue to be in high demand.
Companies Looking For Big Data Skills:
EMC, IBM, Cisco, Oracle are just a few of the top companies who are looking for Big Data skills. Here’s a distribution of job requirements of the top ten Big Data employers today, according to WantedAnalytics.
As Big Data gathers momentum, it is creating huge career opportunities for IT professionals with the right skillset. With companies scurrying around for Big Data skilled professionals, this is an apt time to gather the necessary skills to land the job. There is no doubt that that With Big Data skills your value in the IT jobs market increases significantly. So get the right training to gain proficiency in the essential concepts that will make you and expert in Big Data.