An analytics manager uses advanced analytical and mathematical methods to assist organizations in solving problems and making better business decisions. Some of the duties of analytic managers include: (BLS.gov)
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- Pinpoint and solve problems in business, logistics, healthcare, and other industries.
- Collect and organize business data and information from computer databases, sales histories, and feedback from customers.
- Collect input from employees involved in all areas of a business problem or from people who are subject matter experts so they can solve the problem.
- Analyze information to determine what is relevant to the business problem and what analytical methods can be used to study the issue.
- Utilize statistical analysis, predictive modeling, simulations, and other methods to analyze business information and devise practical solutions to modern business problems.
- Advise stakeholders, such as managers and executives, on the effects of taking various courses of action to address a business problem.
Analytics managers help companies to determine the best ways to allocate resources, devise production schedules, manage the company supply chain, establish prices, and more.
These professionals must first be able to identify and understand the business problem or the processes that need improvement. Analytics managers usually collect large amounts of data from company databases for analysis. They also collect data from the field and may talk to managers or clients that are involved in the business process being improved.
Analytics managers use advanced computer software, including statistical packages and databases, to analyze and solve business and supply chain problems. Statistical software is used to simulate current or future events and determine the best course of action.
If you have an analytical mind and enjoy data and statistics, you may want to obtain a degree in data analytics or data science. Below is valuable information about the salary potential for analytics managers from several official sources.
Analytics Manager Salary Outlook
If you want to become an analytics manager, obtaining a degree in business, finance or even a master’s in business or data analytics degree or a related discipline is generally required.
SEE ALSO: Best Online Master’s in Business Analytics Degree Rankings
Bureau of Labor Statistics (BLS)
The Bureau of Labor Statistics reports that the median annual salary for an operations research analyst (related to analytics manager) is $83,390. The lowest 10% earned less than $46,800 and the top 10% earned more than $136,250. (BLS.gov). Top industries in this field in 2018 for salary were:
- Federal government: $113,920
- Manufacturing: $92,170
- Professional, scientific, and technical services: $86,720
- Management of companies and enterprises: $85,200
- Finance and insurance: $82,300
Payscale.com
Payscale.com reports the average analytics manager salary is $94,707 with a range between $67,000 and $126,000. (Payscale.com). These companies reported the following salaries for analytics managers:
- JP Morgan and Chase: $109,000
- Accenture: $117,000
- Avalara: $100,000
- Synchrony Financial: $82,000
- Expedia: $110,000
Popular skills for analytics managers and salaries are:
- Data analysis: $93,700
- SQL: $98,300
- Business intelligence: $97,888
- Microsoft Excel: $86,585
- Business analysis: $94,600
Pay for analytics managers varies by experience, according to Payscale.com:
- Less than one year of experience: $72,900
- One to four years of experience: $85,500
- Five to nine years of experience: $98,100
- Ten to 19 years of experience: $106,300
- More than 20 years of experience: $116,300
Your salary also can change based on your geographic location in the US:
- San Francisco: +27%
- Seattle: +10%
- Dallas: +6%
- Atlanta: -1%
- New York City: -2%
- Chicago: -2%
- Philidelphia: -4%
Linkedin.com
Linkedin.com reports the average base salary for analytics managers is $108,000 with a range between $75,000 and $150,000. This information is based on 2,260 salaries that were reported by Linkedin members who are analytics managers.
Also, 61% of respondents said they receive an average annual bonus of $12,000 per year with a range between $5,000 and $27,000.
Approximately 5% of respondents received a signing bonus averaging $10,000 with a range between $5000 and $30,000. Eight percent received an average of $5,000 per year in stock options with a range between $1000 and $25,000. (Linkedin.com)
Salaries vary by company size, too:
- 10,000+ employees: $115,000
- 1,000-10,000 employees: $105,000
- 201-1,000 employees: $100,000
- 1-200 employees: $93,000
Indeed.com
This source states the average US salary for an analytics manager is $115,349. (Indeed.com). Some salaries reported from companies for analytics managers include:
- Genentech: $144,900
- Frontier Communications: $146,300
- Capital One: $138,900
- PwC: $137,600
- Accenture: $134,200
- PMG: $140,800
- Deloitte: $116,400
- Dice FM: $120,800
Salary.com
Salary.com reports the average analytics manager salary in the United States is $122,000 with a range between $95,400 and $150,400. (Salary.com)
Job Outlook for Analytics Managers
Employment in this field will rise by 26% by 2028. This is much faster than average compared to other occupations. Technology is advancing fast and companies want cost savings and efficiency, so demand for analytics managers will grow. Also, higher demand is occurring specifically in the analytics field in many industries to improve decisionmaking and business planning. (BLS.gov)
Advances in technology are making it possible for companies to gather large amounts of data that can be used for analysis. Also, improvements in analytical software are making operations research more affordable and applicable to more business areas. More organizations are expected to hire analytics managers to help them to transform data into important information that managers can use to make better decisions for the company.
Analytics managers manage and analyze the collected data to enhance business operations, supply chains, marketing, and pricing. Analytics manager demand is expected to be acute in the healthcare field and US military.
Opportunities are best for professionals with a master’s or Ph.D. in data analytics, data science, operations research, orf management science.
Average Analytics Manager Salary by State
| State | Hourly Wage | Annual Salary |
|---|---|---|
| New York - Analytics Manager | $57.41 | $119,406 |
| Massachusetts - Analytics Manager | $56.99 | $118,546 |
| New Hampshire - Analytics Manager | $55.61 | $115,670 |
| Maryland - Analytics Manager | $52.90 | $110,029 |
| Hawaii - Analytics Manager | $52.65 | $109,511 |
| Connecticut - Analytics Manager | $52.50 | $109,194 |
| Alaska - Analytics Manager | $52.49 | $109,188 |
| Montana - Analytics Manager | $52.49 | $109,188 |
| North Dakota - Analytics Manager | $52.49 | $109,188 |
| Wyoming - Analytics Manager | $52.49 | $109,188 |
| Nevada - Analytics Manager | $52.49 | $109,188 |
| Idaho - Analytics Manager | $52.49 | $109,188 |
| Vermont - Analytics Manager | $52.35 | $108,897 |
| Nebraska - Analytics Manager | $52.25 | $108,685 |
| Washington - Analytics Manager | $52.22 | $108,622 |
| Rhode Island - Analytics Manager | $51.68 | $107,502 |
| California - Analytics Manager | $51.65 | $107,440 |
| Virginia - Analytics Manager | $51.40 | $106,908 |
| Arizona - Analytics Manager | $50.85 | $105,766 |
| New Jersey - Analytics Manager | $50.52 | $105,088 |
| Colorado - Analytics Manager | $49.86 | $103,702 |
| West Virginia - Analytics Manager | $49.83 | $103,642 |
| Minnesota - Analytics Manager | $49.63 | $103,238 |
| Pennsylvania - Analytics Manager | $49.63 | $103,231 |
| South Dakota - Analytics Manager | $49.61 | $103,193 |
| South Carolina - Analytics Manager | $49.54 | $103,041 |
| Tennessee - Analytics Manager | $49.35 | $102,641 |
| Delaware - Analytics Manager | $49.32 | $102,595 |
| Oregon - Analytics Manager | $49.28 | $102,498 |
| Utah - Analytics Manager | $48.93 | $101,781 |
| Ohio - Analytics Manager | $48.84 | $101,583 |
| Kentucky - Analytics Manager | $48.78 | $101,469 |
| Indiana - Analytics Manager | $48.50 | $100,890 |
| Oklahoma - Analytics Manager | $48.39 | $100,642 |
| Louisiana - Analytics Manager | $48.24 | $100,349 |
| Wisconsin - Analytics Manager | $48.16 | $100,175 |
| Kansas - Analytics Manager | $48.01 | $99,864 |
| Maine - Analytics Manager | $47.97 | $99,769 |
| Iowa - Analytics Manager | $47.86 | $99,542 |
| Texas - Analytics Manager | $47.06 | $97,877 |
| Georgia - Analytics Manager | $46.89 | $97,526 |
| Arkansas - Analytics Manager | $46.71 | $97,158 |
| New Mexico - Analytics Manager | $46.45 | $96,607 |
| Alabama - Analytics Manager | $46.10 | $95,888 |
| Michigan - Analytics Manager | $46.05 | $95,782 |
| Illinois - Analytics Manager | $45.90 | $95,480 |
| Mississippi - Analytics Manager | $45.39 | $94,402 |
| Missouri - Analytics Manager | $44.92 | $93,442 |
| Florida - Analytics Manager | $44.25 | $92,040 |
| North Carolina - Analytics Manager | $40.24 | $83,707 |
Source: Ziprecruiter.com, January 2020.
Summary
The job outlook for analytics managers and related professionals is outstanding. Because of the improvements in technology and companies swimming in data that they often do not know what to do with, the time is ripe for a professional with an analytics degree to snag one of these high-paying jobs. With a master’s degree, you can easily be earning $100,000 or more per year after three years of experience or sometimes less.