The best data analysts need to be able to switch between several roles. Businesses rely increasingly on data across all sectors to inform their decisions and expose areas of inefficiency. Data analysis professionals are an integral element of every organization's division, not just a specialization in IT. These skills and responsibilities make you more attractive and valuable than an IT specialist because they allow you to move freely between different types of work and teams. Learn more about data entry jobs.
The demand for analytics experts is rising, so that's excellent news for them. More than 150 zettabytes of data, according to experts, would require analysis by 2025, which will generate thousands of analytics positions across many sectors. Experts who can use this information to improve business decisions will be in high demand and paid well for the foreseeable future.
Since pay is a crucial motivation for work, it's vital that anyone interested in a career in data analysis or wanting to become a data science tutor should know the salary expectations and opportunities for career growth within the field. Read to the end to learn more about these facts and many more.
How Much Do Data Analysts Earn on Average in Canada?
In Canada, a data analyst can expect an average annual compensation of $65,220. While the lowest salary for these professionals is $45,853 per year, and the highest is $92,769. However, the average wage for data analysts may differ in each province from the national average.
For example, the average salary is slightly higher in British Columbia than in Manitoba due to high taxes and the cost of living. Therefore, data professionals who boost their career prospects for long-term gain should research the average salary per province and compare them to the national average.
However, the national average salary isn't all there is to know concerning data analysis salary expectations. Since the wages of most data analysts in Canada are mainly influenced by factors such as qualifications, experience, sex, etc., it's best to review salary expectations as they are affected by these factors.
Salary Expectations by Years of Experience for Data Analyst in Canada
The experience level is the most critical factor in determining the salary. Naturally, the more years of experience, the higher the wage. Starting salaries for workers with less than two years of experience are 61,700 CAD per annum.
The average salary for someone with two to five years of experience is $85,100 CAD, a 38% increase over those with less than two years of experience.
In the future, someone with between five and ten years of experience may expect to earn 121,000 CAD annually, a rise of 42% over the income offered to someone with two to five years of expertise.
Furthermore, professionals with a decade to fifteen years of experience earn 148,000 CAD, 22% more than those with five to ten years of experience.
The average salary for someone with fifteen to twenty years of experience is $156,000 CAD, or 6 percent more than that for someone with ten to fifteen years of experience.
And last, those with over twenty years of experience earn 170,000 CAD annually, or 9% more than those with fifteen to twenty years of service. Discover how career goals could affect your employment options.
Salary Expectations by Gender for Data Analysts Canada
Although there should be no correlation between gender and salary, it often is in Canada. Which gender, men or women, get higher pay? Across all occupations in Canada, the average income gap between men and women who hold the "Data Analyst" title is 5%.
Salary Expectations by Education for Data Analyst Canada
We know a college degree can increase your earning potential, but how much? It’s best to compare data analyst wages by education level to better understand the market.
- Diploma or Certificate in Data Analysis
This is a good starting point for most data professionals. A college diploma or certificate of training from any bootcamp isn't a bad idea for anyone looking to test the waters and get started in the data analysis market. Workers with this level of education typically earn a salary of $73,700 CAD per year. At this stage, having more tedious and demanding roles in IT firms is typical. You may likely work under the supervision of bachelor's or master's degree holders in relative discipline.
- A Bachelor's Degree
This is the cradle for growth in most IT organizations. You may enjoy many benefits and perks of working in an IT environment at this stage. The median income increases to $117,000 CAD, a whopping 58% increase over the prior median. The tremendous salary increase is one of the reasons why many diploma holders go all the way to get their first degree after working for a few years.
- A Master's degree
if you have a master's degree in data science/analysis or any related IT field, you are considered to be at the peak of your career. Many organizations seek to employ IT experts with a master's degree to contribute immensely to the company's development and help coordinate entry-level data analysts to accomplish the company's objectives. At the master's level, the median pay increases to 162,000 CAD, a rise of 39 per cent from the prior status.
How Do I Increase My Salary as a Data Analyst?
This question is on the lips of many data analyst professionals, especially those with entry-level jobs. Unlike many other professionals, a data analyst career is like a fast-moving train, where you cannot be stuck for years without advancement.
Even at that, you must know the proper steps to enjoy this fast-paced profession. Suppose you are earning an entry-level salary or working with a diploma in data analytics. In that case, there are many ways you could enjoy massive career growth and earn higher income in your organization. Here are some of them.
- Get an advanced degree
This is one of the requirements for achieving success in the IT profession. Companies are having difficulty filling open positions because it is tough to locate candidates with the necessary skills, training, experience, and education.
While a bachelor's degree in STEM is common for entry-level data analysts, More so, getting an advanced degree is the quickest route to a promotion and a higher income. For instance, IBM found that master's degrees and doctorates were required for 39% of advanced analytics positions.
- Learn the proper skill set
The IT skills in demand now may not be needed in the future. That's why it's crucial to keep abreast of developments in your field and maintain current competency levels.
You'll stand out from the competition and earn more money if you have experience in multivariate testing, data mining, statistical and predictive modelling and quantitative analysis in 2023.
Do you know you can successfully negotiate salary increases if you possess marketable talents? Courses in data modelling, mathematics, computer science, and other related subjects in a typical bachelor's degree program provide excellent preparation for a career as a data analyst. And if you're looking to improve your employability, you may enroll in an online course by hiring a tutor from Superprof.
- Gain more experience in your specialty
There are things you can do right now to increase your earning potential, whether you're thinking about getting a master's degree or are already in one. Start by enhancing your resume through internships or project-based positions while still in school.
- Know your worth
If you're a data analyst and want to discuss a raise or promotion, prepare for a meeting with your boss. Payscale and Salary.com are just two of many pay calculators and websites available to see how your earnings compare to the market average. Knowing the average salaries of people in your field and area might help determine if you are fairly compensated.
How Can I Choose the Correct Data Analytics Job in Canada?
It would help to consider your present data analytics skills and what you want to learn before deciding on a career path, but compensation and demand are still important considerations.
A career in operations or business analytics, where you'll regularly interact with managers and executives and present your ideas, could be a good fit for people who thrive in social situations. Data architecture and engineering are two technical careers that require much time spent in front of a computer and working with a database.
It would help if you also considered the availability of large firms in your area and whether or not you'd have to relocate to get greater possibilities. Think about your job's restrictions on mobility and flexibility in your personal life.
If you are still undecided about a data analysis career, you can improve your appetite with a short online course on Superprof. The platform offers a great user experience that makes it easy to find a tutor for data science tutoring.
You can quickly learn more facts about data analysis/science when you hire a coach for private mentorship. One of the fastest ways to grow in your IT career is to have someone who cheers you on, helps you avoid many career mistakes and provides academic support until you achieve your career goals. Fortunately, you can find all these and even more on Superprof. So, get ready to kickstart an exciting career in data analysis right away.
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