Want to pursue a career in Data Science? Want to know how much a data scientist’s salary is in India? Well, here is all you need to know about it- If there is any field that has picked up in a major way in recent years, it is that of data scientists. No wonder, data science is one of the most coveted titles and jobs in the 21st century. After all, only a data scientist can glean hidden information and meaningful insights from copious amounts of raw data. They have a huge task to undertake including processing data, cleaning it, and making use of mathematical, statistical skills and engineering skills to ensure data becomes as meaningful as possible. They then build patterns and models which help organizations understand what their customers want.
Data scientists are thus a critical part of any organization’s decision-making team, which is why they look to hire the best talent in this domain. Due to the high importance of data scientists, their salary is also on the higher side. With so much at stake, it is natural to wonder what a data scientist’s salary might be like. Continue reading to gain insights into the salary of a data scientist.
Data Scientist – Estimated Salary and Career Potential
Technology has pervaded every sector in the last few years. New technologies such as artificial intelligence, machine learning and data science have seen a lot of growth. This is why the demand and salary of a data scientist is significantly high across the world.
By 2028, the jobs of data scientists are expected to see an approximate growth of 14%. Now, let us find out some factors that influence a data scientist’s salary or particularly, the salary of data scientists in India.
Various Factors Affecting a Data Scientist’s Salary
A data scientist’s salary is largely affected by four factors – experience, location, skills, and company.
1. Data Scientist Salary by Experience
As mentioned at the outset, the first factor affecting the data scientist’s salary is their experience. While experience is essential in every profession, a data scientist’s salary in India is higher for those data scientists who come with a lot of experience. The starting salary of a data analyst in India may also depend on their educational background and the degree they have pursued. Let us now look at a data scientist’s salary per month at different levels of experience.
An entry-level data scientist is someone who has graduated recently. He/she could also be a data scientist who has changed domains and is new to the current one. Organizations that hire candidates with entry-level experience will also ensure that they are trained well on the job. A data scientist’s salary per month and a junior data scientist’s salary annually will vary. According to statistics, the annual estimation is around $69,000. This is a junior data scientist’s salary as well as a data scientist’s salary in India for freshers.
Experienced Senior Data Scientist
A senior data scientist is a very valuable resource for any organization. This is why senior data scientists’ salary is higher. They help the organization progress and ensure that there is meaningful information extracted to help them. As per estimates, the senior data scientist’s salary can range from $168,000 to $184,000.
2. Data Scientist Salary by Location
A data scientist’s salary per month can also vary according to the location and country. It will depend on the number of jobs available in that domain in a particular country. The average salary of a data scientist in India is ₹708,012. Now that we know the average salary of a data scientist in India, let us look at the opportunities in other countries.
The scope of data science and the salary of a data scientist in the US is around $96,106.
According to sources, the scope of data science and the salary of data scientists in Australia stands at A$116K per year.
In Canada, the scope of data science is wide, and the salary of data scientists stands at $80,394 per year.
The scope of data science in Singapore is bright and growing with the salary of data scientists standing at SGD93,000 per year.
3. Data Scientist’s Salary by Skills
A data scientist must definitely possess skills and detailed knowledge of programmes like SQL, statistical analysis, data analysis, Microsoft Excel, and Microsoft Office. The starting salary of a data scientist will range from over ₹ 3 lakh to over ₹ 4 lakh.
4. Data Scientist Salary by Company Size
Some of the popular companies offering data scientist salaries in India include IBM, Accenture, JP Morgan Chase and Co., American Express, Wipro Technology, among others. As mentioned above, a data scientist’s salary in India and other countries will depend on multiple factors.
Shape Your Career in Data Science
There are immense opportunities for people who want to opt for the job of a data scientist in India. Businesses every day are generating humongous amounts of data, and this is where the role of data scientists becomes important. While a data scientist’s salary per month is impressive, the starting salary of a data analyst in India will depend on how well a person can learn and pick up. To ensure that you have the much-needed skills for the job, you can choose from various courses offered by Emeritus India. Choose from the many Data science courses Emeritus has to offer to upgrade your skills.