Average Salary of a Data Scientist – Career opportunities have exponentially grown in data science across the globe. With the ever-growing advancements in our capabilities of capturing data and the need to generate insights from it, more and more companies have started hiring data scientists across geography. India is the second-highest country to recruit employees in data science/ analytics, with 50,000 positions available – second only to the United States. The demand for data experts is equally spread across all organizations, right from the giants like Walmart and Amazon to small start-ups. It is also one of the highest-paid jobs as well as every company is trying to lure the right talent and build a robust data science arsenal.
As per Glassdoor, the Average Salary of a Data scientist is around 11 LPA for all levels of experience, which we should keep in our mind that most data scientists hired have less than five years of work ex. While if we check similar stats from LinkedIn, you will realize a similar story.
But if you check, let’s say a Java Developer, you will find that the salaries are half of what is for data scientists. This clearly shows that companies realise the value of a data scientist, and hence they are being paid above other similar IT job profiles.
With this ever-growing demand for data scientists and more companies starting to adopt it, this number is likely to grow only soon.
According to The Analytics and Data Science Industry Study 2018 by Analytics India Magazine, India’s data science and big data industry is anticipated to grow 7x in the next seven years, reaching $20 billion by 2025. If you keep yourself upskilled and ready to upgrade as per market demand, then I feel data scientists will earn even more than the projected numbers. Hence, many data science-specific specialisations are popping up in the market.
The long-term benefits of specialisation far outweigh the short-term costs. As Ben Franklin once rightly said, “An investment in knowledge pays the best interest”.
~ Nishkam Shivam, Data scientist @ Bristlecone | Ex- Walmart | Ex- Accenture
The opportunities for Data Scientists are currently at their prime in India. If you also want to become a data scientist, start your journey today with a data science course from Emeritus, and make your resume stand out with a certificate from a leading, top-ranked B-School. Happy Learning!