Are you an entry-level data analyst? If so, you might be wondering what steps you can take to grow your career. Fortunately, there are a number of different opportunities and career paths you can pursue. Let’s take a look at how to advance your career in data analytics.
Earn a Graduate Degree in Data Analytics
One of the best ways to advance your career in data analytics is to earn an MS in Data Analytics.
A master’s degree will help further develop your data analysis skills in technology and quantitative analysis, machine learning, and business intelligence. Advanced skills will give you the competitive edge you need to progress in the workplace.
If you’re looking to advance your career in data analytics, there are a few different career paths you can take.
Data Scientist
The majority of data scientists begin their careers as data analysts. Data scientists must have a strong knowledge of statistics and mathematics, programming and coding, business intelligence, and machine learning.
Data scientists typically work in government job settings, but they can also work in research and development, software publishing, computer systems design, and colleges and universities. They collect and analyze data to make predictions. Their jobs often involve designing predictive models and machine learning algorithms.
Data scientists earn an average salary of $108,660 a year, with those in the 90th percentile earning up to $167,040 a year.
Management Analyst
Many data analysts choose to pursue advanced careers as management analysts. Some of these roles may include a senior-level analyst, analytics manager, director of analytics, or chief data officer.
In order to obtain these careers, you must have a master’s degree and demonstrate a history of strong leadership skills. In most cases, you might try to obtain an advanced analytics career in the company you already work within to gain experience.
Management analysts earn an average salary of $87,660 a year.
Consultant
If you love to work independently, this career route might be for you. Data analytics consultants work as freelance contractors or for consulting firms where they conduct data analysis for various clients.
To pursue this career path, you must first gain experience working as a data analyst for a company or, ideally, several companies.
Data analytics consultants earn an average of $67,227 annually.
Project Manager
Data analytics project managers oversee data analysts, programmers, and developers to ensure they are effectively designing products or services that suit the client’s needs. Project managers may also work directly with the clients to understand their needs. They not only manage teams to ensure goals are being met, but they provide feedback and help them stay on track.
On average, data analytics project managers earn $105,000 per year.
Quantitative Analyst
Quantitative analysts are in-demand professionals. They typically work for financial firms where they work to discover the best financial investment opportunities and risk management solutions. In some cases, quantitative analysts also work independently to create analytical software and other solutions for stocks, trading, exchange rates, and other financial tools.
The average quantitative analyst earns approximately $86,023 a year.
Marketing Analyst
If you’ve considered a career in marketing, this can be an ideal solution for someone with a background in data analytics. Marketing analysts generally use data-driven solutions, such as Google Analytics and other reporting tools, to determine what advertising solutions work the most effectively.
Although marketing analysts tend to earn about $65,000 a year, those who hold senior and managerial level positions can make more than six figures.
Some additional advanced careers you may choose to pursue include Logistician, Data Architect, Big Data Engineer, Data Mining Engineer, and Qualitative Analyst.
The good news for entry-level data analysts is that there’s plenty of room for advancement. With a number of career paths you can choose to pursue, there are many opportunities for those with experience in data analytics.
Hi there! I’m Sethu, your go-to guy for all things tech, travel, internet, movies, and business tips. I love sharing insights and stories that make life more interesting. Let’s explore the world together, one article at a time!
