Product Analyst Salary in 2024

Salary details

The average Product Analyst salary lies between USD 87,500 and USD 174,250 globally. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 17, 2024

Top 20 Job Tags for Product Analyst roles

The three most common job tag items assiciated with Product Analyst job listings are Python, SQL and Statistics. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

Python | 190 jobs SQL | 188 jobs Statistics | 149 jobs Tableau | 128 jobs Engineering | 122 jobs A/B testing | 92 jobs Testing | 89 jobs R | 88 jobs Data analysis | 84 jobs Machine Learning | 77 jobs Data visualization | 68 jobs Mathematics | 66 jobs Computer Science | 64 jobs Power BI | 61 jobs Looker | 60 jobs Research | 60 jobs KPIs | 60 jobs Economics | 43 jobs Excel | 41 jobs ETL | 34 jobs

Top 20 Job Perks/Benefits for Product Analyst roles

The three most common job benefits and perks assiciated with Product Analyst job listings are Career development, Startup environment and Health care. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 153 jobs Startup environment | 87 jobs Health care | 69 jobs Competitive pay | 60 jobs Equity / stock options | 58 jobs Flex hours | 54 jobs Team events | 51 jobs Medical leave | 44 jobs Parental leave | 39 jobs Salary bonus | 32 jobs Flex vacation | 30 jobs Insurance | 29 jobs Wellness | 21 jobs Lunch / meals | 19 jobs Gear | 17 jobs 401(k) matching | 11 jobs Paid sabbatical | 10 jobs Yoga | 9 jobs Fitness / gym | 8 jobs Relocation support | 8 jobs

Salary Composition

The salary for a Product Analyst in AI/ML/Data Science typically comprises a base salary, performance bonuses, and additional remuneration such as stock options or benefits. The base salary is the fixed component and usually forms the bulk of the total compensation package. Performance bonuses can vary significantly depending on the company's success and individual performance, often ranging from 10% to 20% of the base salary. Additional remuneration might include stock options, especially in tech companies or startups, and benefits like health insurance, retirement plans, and professional development allowances. The composition can vary by region, with tech hubs like Silicon Valley offering higher base salaries and stock options, while other regions might offer more balanced packages. Industry and company size also play a role; larger companies might offer more comprehensive benefits, while startups might compensate with equity.

Steps to Increase Salary

To increase your salary from a Product Analyst position, consider the following strategies:

• Skill Enhancement: Continuously upgrade your skills in AI/ML and data science. Specializing in emerging technologies or methodologies can make you more valuable.
• Advanced Education: Pursuing a master's degree or relevant certifications can position you for higher roles.
• Networking: Build a strong professional network to learn about new opportunities and industry trends.
• Performance Excellence: Consistently exceed performance expectations to qualify for promotions and bonuses.
• Role Transition: Consider transitioning to roles with higher responsibility, such as Product Manager or Data Scientist, which typically offer higher salaries.

Educational Requirements

Most Product Analyst roles in AI/ML/Data Science require at least a bachelor's degree in a related field such as Computer Science, Data Science, Statistics, or Engineering. A strong foundation in mathematics and analytical skills is crucial. Some positions may prefer candidates with a master's degree, especially for more senior roles or in competitive markets.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile:

• Certified Analytics Professional (CAP)
• Google Data Analytics Professional Certificate
• Microsoft Certified: Azure Data Scientist Associate
• AWS Certified Machine Learning – Specialty
• Coursera or edX certifications in AI/ML

These certifications demonstrate your commitment to the field and can provide a competitive edge.

Experience Requirements

Typically, a Product Analyst role requires 2-5 years of experience in data analysis, product management, or a related field. Experience with data visualization tools, statistical software, and programming languages like Python or R is often expected. Familiarity with AI/ML concepts and tools is increasingly important.

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