Data Analyst salary: What will a Data Analyst earn in 2024?

As a data analyst, you are the driving force behind data-driven companies: Even with a Bachelor's degree, you can start your career working with data. Further training can also make it easier to start out as a data analyst. In our article, we show you what prospects you have for a Data analyst salary from career entry to management responsibility and what wage differences you can expect depending on the region and country. 

By the way: If you are interested in further training to become a data analyst, make sure you check whether you are eligible for funding with Education voucher comes into question!

Data Analysts salary for entry or lateral entry 

In contrast to the Data Scientist the salary of a data analyst at the start of their career is somewhat lower and often between 40,000 and 46,000 euros gross per year. The reason for the difference in salary between the two related professions is essentially the perspective:

While a data analyst retrieves, processes and interprets data virtually on demand, a data scientist is also expected to make forecasts and strategic deductions. In addition, complex algorithms such as machine learning play a greater role for data scientists. 

However, this is by no means to say that the job of a data analyst is more boring or less valuable! Especially in the content specializations There is great potential for varied fields of work in this area. We explain which personal factors and which company-related factors influence your Data Analyst salary.

Data analyst salary: the range can be so wide

In Germany, the salary range of a data analyst is broad: While a Career starters via a Annual salary of 40,000 euros data analysts with 10 years of professional experience and more can expect double the gross salary. In the USA, the differences are even greater - more on this in a later section. 

Your degree also influences your salary: while you earn around 40,000 euros gross per year with a Bachelor's degree when you start your career, with a Master's in your pocket it's already around 46,000 euros.

This overview shows you exactly which factors influence your salary: 

In the following paragraphs, we will explain in detail how the personal and
Company factors can influence your salary.

Personal factors that influence your salary 

These personal factors influence your salary as a Data Analyst: 

• Graduation & further training 
• Deepening 
• Professional experience 
• Management responsibility 

In the following paragraphs, we will explain to you specifically which factor has which influence - and how you can effectively influence your salary yourself. 

Degree & further training as a data analyst

As already mentioned, the Academic degree has a certain influence on your starting salary: while a Bachelor's degree can expect around 40,000 euros gross per year, this figure is already around 46,000 euros for a Master's degree.

But further training courses such as the Qualification as a Data Analyst from Stackfuel create a solid basis for higher salary demands. Our strong practical focus makes you particularly valuable to companies, as you can immediately contribute to your future employer's projects with relevant Python skills. 

Specialization and salary: From financial analyst - to big data analyst

Data analysts can be all-rounders - but it is becoming more and more common to have a Specialization in sectors and their respective characteristics. The reason for this is that the interpretation of the data becomes easier and more reliable with increasing experience. We explain this using a few examples. 

This overview of specializations alone makes it clear how many interfaces data analysts work on: While a financial analyst analyzes data on companies, shares and markets - and should be familiar with them accordingly - a weather analyst works with weather data and should therefore be familiar with geographical and meteorological data. Even if the trade and the tools are sometimes the same or at least similar, the Thematic orientation the relevant difference. 

And this can also be reflected in salary: Big data analysts are the best-paid specialists who can earn 120,000 dollars or more a year in the USA. They have an understanding of large amounts of data, can analyze it meaningfully and process it using algorithms and machine learning.

But the range is also wide for other specializations: a financial analyst earns up to 66,000 dollars - but a clinical data analyst can expect up to 80,000 dollars. 

Professional experience & management responsibility: How does the salary as a Data Analyst develop? 

Professional experience has a huge impact on your salary. Your salary can easily double over the course of your career, depending on years in the job and management responsibilitythat you take over. 

Furthermore, certain skills influence your gross salary. For example, according to a survey by O'Reilly, the Mastering software such as Spark and Scala in the US market to a salary increase of 15,000 dollars. 

As you can see, you can influence many factors of your salary yourself through further training, professional experience and tool knowledge. But what about the salary factors that depend on the employer? 

Company-related factors that influence your salary 

Different companies pay different salaries - this is a truism at first, but it makes one thing clear: the Choosing your future employer has an immense influence on your starting salary. We would therefore like to highlight the following factors and explain them to you: 

• Location (country, state, city) 
• Industry 
• Company size 

Data Analyst salary in Germany and other countries 

Depending on the job, the salary differences in the international comparison be small or large. Data analysts are an example of major differences: While data analysts in the USA receive a similar amount to those in Germany at the start of their careers at around 41,000 dollars, the salary expectation changes immensely over the years and depending on specialization: data analysts in the USA can earn well over 120,000 dollars. In Germany, such sums are extremely unusual. 

At European comparison Germany, on the other hand, is in a good position: In Spain, data analysts receive an average of 34,000 euros, in France 46,309 euros, similar to Germany. 

But also within Germany But the differences within Germany are also huge: while data analysts in Saxony-Anhalt should only expect a gross salary of around 3,700 euros per month, in Bremen it is up to 7,000 euros - almost double that. In addition to the different costs of living, the local labor market also plays a major role: where the demand for specialists is high, the salary is also higher. 

Also between the major German cities there are differences, although here too
cost of living and the respective local labor market play the most important roles.

Corporate sector as a data analyst 

As already outlined above in the article on the specializations of the Data Analyst, the salary differences depending on the industry and thus the field of knowledge are considerable. 

For example, the portal Kununu has compiled a current top 5 list of which sectors pay the most - however, these values do not apply to career starters, but are average values across all job offers: 

However, career starters can also assume that the starting salary can vary greatly depending on the industry. So if you have an open mind, you can achieve the best gross salary for your work if you focus on the automotive industry. 

Company size and salary

The size of a company also has a noticeable influence on your salary. Little
Surprisingly, companies with fewer than 100 employees pay less than
Large companies and groups with over 1,000 colleagues.

In large companies, it is also easier to become a big data analyst or financial analyst.
specialize, which can also have an impact on your salary. However, people who like to remain flexible and want to make a difference are often more likely to have the opportunity in smaller companies.
Possibility to do so.

Data Analyst lateral entry salary: Is it worth it?

The job market demands data specialists: depending on the portal, there are currently between 1,500 and 5,200 job advertisements for data analysts online in Germany: So there are plenty of job offers. 

More and more people are therefore also thinking about a Career change as a data analyst which is of course absolutely possible. In addition to further training such as here at StackFuel Various previous experiences also help: Your studies, your previous professional career and your general passion for mathematics, statistics and data. For a long time, autodidacts were often and gladly welcomed - but of course, appropriate proof makes it easier to get a job. 

In this respect, it is difficult to say whether a career changer earns less than a "trained" data analyst. If you are interested in data, have already worked with IT or statistics in your job and could imagine working with a Further training as a data analyst to qualify, nothing should stand in the way of your career as a data analyst. 

Conclusion: What does a data analyst earn?

• The salary range for a Data Analyst is between 40,000 euros and 85,000 euros.
• Degrees and specializations have a major influence on personal factors
• Your salary can double over the course of your career as a data analyst
• Location, sector and company size play a significant role in the company factors

Data analyst is a great profession to start working with data. In Germany, gross annual salaries start at around 40,000 euros, the According to Kununu.com, the average is around 56,000 euros.  

In the USA, data analysts can earn considerably more, although the cost of living can also be much higher here. Within Germany, the Top locations with the highest earning potential Munich and Stuttgart. The best-paying industry is the automotive sector. A special feature of the data analyst compared to the related profession of data scientist is above all the specialization, from financial analyst to clinical data analyst to weather analyst. 

So if you're curious now and want to get started in the job, take a look at our certified Further training as a data analyst on. Here you will learn all the essential skills in a practical way with a special focus on the job-relevant use of Python. And best of all: With an education voucher, further training is free of charge for you.  

Sources

Kununu (2024): "Salary for Data Analyst“ [19.04.2024]

GetinIT (2024): "IT professions“ [19.04.2024]

Transparency note: We used various articles as data sources, including get-in-it.de, kununu.com, datascientest.com, stepstone.de and jobteaser.com. The figures are generally rounded meridian values and are paid by around 50 percent of employers. Lower and higher salaries can always be paid in reality. We always recommend that you have a specific salary discussion with your future employer.