The average salary for a data analyst in New York is $99,083, according to the latest research from CyberCoders, a leading recruiting firm in the U.S.
"There is a big data revolution," Weatherhead University Professor Gary King told Harvard Magazine in 2014.
The revolution isn't the data itself, King emphasized, but that "now we can do something with the data."
Well-paid and in demand
The role of data analyst has never been more important, especially in the startup and tech community.
There is high demand for anyone who can transform tables upon tables of numbers from a confusing black box into actionable insights. So much so that the McKinsey Global Institute predicts a shortage of 1.5 million managers and data analysts by 2018.
A 2013 survey by Robert Half Technology revealed 53% of companies that collect customer data lack sufficient staff to effectively access, process, report and interpret the numbers.
The demand for data analysis spans across sectors, and everyone from big box retailers to nonprofits to growing startups are looking for someone who can help them put the numbers to work.
Our job board currently has 60 posts from NYC startup and tech companies looking for data and analytics specialists, and the listings are growing everyday.
Career website Glassdoor recently listed data scientist as the number one "Best Job in America," citing the national median salary as $116,840.
CyberCoders, which released its 2016 salary guide earlier this month, places the average salary nationwide as $87,548, with the highest earning data analyst making $177,500.
Salary will vary depending on location, expertise, company size and an organization's needs, but one thing is clear—data analysts are well-paid and in high demand across the country.
Becoming a data analyst
Most companies are lost in a sea of data, and a great analyst is a beacon on the horizon.
Not only does the position demand a highly analytical mind, but also effective writing and communication skills. After all, it is up to the data analyst to help guide the product managers, developers, C-level executives, and marketers to the right conclusions about customer behaviors.
Using statistics, analytical software and a savvy understanding of user behavior, data analysts are expected to crunch the numbers and create actionable insights that improve a company's performance.
Knowledge of programs like R, Python, Matlab, Tableau, Google Analytics and Adobe's Omniture will be expected, in addition to:
- Understanding and experience with machine learning, probability and forecasting models
- Best practices in tracking implementation and data collection
- Ability to visualize and articulate data patterns to colleagues
- Designing reports and dashboards that effectively communicate key data points to stakeholders
