Online Manipal Editorial Team | October 29, 2022
- A data scientist is a specialist who gathers, evaluates, and interprets vast volumes of data.
- In big metropolises like Mumbai and growing towns like Pune and Bengaluru, data scientists are in great demand and earn handsome salaries.
- Data scientists utilize their analytical abilities to analyze, assess, and extract important information that enables businesses to improve their inventions.
Data science is a discipline that combines subject-matter expertise, programming prowess, and an understanding of mathematics and statistics to derive practical insights from data. Data scientists are experts in gathering, organizing, storing, processing, and analyzing data, which enables people and organizations to make decisions based on the insights gained from the data.
Considering the need for data in practically every sort of industry, including IT, business, and healthcare, data science career prospects have dramatically risen. Profession advancement, job stability, and reputation all contribute to the allure of a career for aspirant data scientists in addition to the data science salary in India.
Continue reading to learn more about the various job positions and the average data science job salary.
Data science salary in India
A data scientist’s duties include handling sizable, complicated databases and providing results utilizing machine learning and predictive analysis. They are experts in data analysis, algorithms, advanced analytics, artificial intelligence, and statistical methods, all of which aid in commercial decision-making. The majority of data scientists have degrees in computer science, engineering, data science, etc.
Freshers are likely to receive less than those for experienced professionals in data science jobs. According to a report, an average data scientist makes up to INR 10,50,000 a year. The typical annual income is between INR 6,98,412 and INR 7,00,000 in India.
The data science job salary depends on several variables, including the size and reputation of the organization, the location, the candidate’s education, the requirements of the position, and most importantly, their previous employment history. Let’s examine them.
The salary range for various data science roles
Here are some data science job positions and their respective salary ranges:
- Data scientist
Data science is just statistics that have been programmed. Python has demonstrated its prowess in data sorting according to both general and specialized criteria alongside R.
In India, Python data science programmers make more money than both software engineers and DevOps programmers combined. The pay for data scientists in India varies greatly depending on many variables. The data science jobs for freshers salary is INR 6,98,412.
- Data analyst
Data analysts aid senior executives in concluding their data. A/B testing and web analytics tracking should be familiar to analysts. It is one of the greatest data science careers. In India, the average annual salary for a data analyst is INR 4,30,000. The best pay for data scientists in India goes to data analysts with programming expertise.
- Data engineer
Data engineers are the backbone of an organization since they work with the core of the business. The data science engineer salary in India is INR 8,56,643. Of course, several elements affect the Data Engineer compensation, such as the company’s size and reputation, location, educational background, job title, and experience.
The following table shows the salaries based on data science job roles.
|Job role||Average salary (INR-LPA)|
Salaries in popular companies
Wipro, Accenture, IBM, TCS, Deloitte, and other top data science businesses are just a few examples. Some of the job roles in data science that top firms provide are data scientists, applied intelligence, advanced analytics, data analysis, senior data analyst, etc.
A list of the salary by top data science companies in India is provided in the table below.
|Company name||Average salary (INR-LPA)|
|JP Morgan Chase and Co.||997,500|
Salaries based on experience level
Experience best indicates refined talents, technological breakthroughs, and improved problem-solving capabilities. However, expertise is not simply evaluated from the standpoint of hard abilities. A focus on soft skills is also significant. Both newcomers and seasoned workers should learn these skills and practice them.
With every significant increase in experience, a data scientist’s monthly or yearly income will drastically increase.
The following table includes a salary range for data scientists based on their degree of experience.
|Experience level||Average salary (INR-LPA)|
|Fresher (1-2 years)||6,11,000|
|Mid-Level (5-8 years)||10,00,000|
|Senior level (10-15 years)||20,00,000|
Salaries in different locations
The location is crucial since it determines the average payout and the clientele that the business serves. Mumbai has the most job openings and the highest yearly compensation for data scientists in India, followed by Bengaluru and New Delhi. Bengaluru offers the biggest prospects for work in startups being India’s startup capital.
The following table displays the salary range for data scientists based on their location.
|Location||Average salary (INR – LPA)|
Data science salaries in the US
The United States is one of the most progressive nations when it comes to giving data scientists high salaries. Without incentives, stock options, RSUs, and profit-sharing, data science salary in the US is between USD 96k and USD 135k annually.
Salary range for various data science roles
The following table shows the salaries in the US based on data science roles –
|Data science roles||Average salary|
|Director of Analytics||USD 130,000|
|Data Architect (Big)||USD 123,000|
|Machine learning Engineer||USD 112,000|
|Research Scientist||USD 83,000|
|Web Analyst||USD 67,000|
|Data Engineer||USD 93,000|
|Business Intelligence developer||USD 82,000|
Salaries in popular companies
The following table shows the salaries in the US based on popular companies-
|Popular companies||Average salary|
|Selby Jennings||USD 207,539|
Salaries based on experience level
Young IT workers find a career in data science to be particularly enticing. Beginning pay is quite profitable, and salaries gradually increase as one gains experience. Data scientists’ salaries are based on their level of skill as well as their years of experience.
The following table shows the salaries in the US based on experience level –
|Experience level||Average salary|
|Fresher (1-2 years)||USD 95,000|
|Mid-Level (5-8 years)||USD 130,000|
|Senior level (10-15 years)||USD 165,000|
Salaries in different locations
The following table shows the salaries in the US based on different locations-
|Job location||Average salary|
|San Francisco, CA||USD 124,208|
|New York, NY||USD 117,707|
|Washington, DC||USD 117,513|
|Los Angeles, CA||USD 111,454|
|Chicago, IL||USD 110,209|
Why a career in Data Science?
As businesses have realized the value of collecting massive amounts of data from websites, smartphones, social media platforms, and other sources and exploiting them for commercial purposes, the subject of data science has expanded enormously in a relatively short period. Data scientists utilize their analytical abilities to analyze data after it has been made public, assess it, and extract important information that enables businesses to improve their inventions.
A data scientist is responsible for gathering, purifying, altering, and analyzing data to provide insightful conclusions. They typically work as a statistician or data analyst in the early stages of their career. They develop into data scientists over several years of experience. You may get a piece of this highly profitable pie with the appropriate education, abilities, experience, and training. Data science, as a domain, will alter the world in the upcoming years.
ALSO READ: Career path in Data Science
How can I get a lucrative salary in data science?
When choosing data science as a career, several elements might affect your ability to earn a good salary. Some of the significant contributing variables are listed below:
- Gain a considerable work experience
Your chances of obtaining a larger compensation package increase as your years of experience in the field rise. You must, therefore, gain a decent work experience to attract better salaries.
- Opt for a suitable job title
Your remuneration package will depend on your work title or role because certain roles might pay more. You may also choose a data engineer as your career as it pays the higher salary.
- Opt for a high paying employer
Your employer has a huge impact on your pay. Earning competitive compensation in the sector requires working for significant and reputed firms.
- Choose the right location
The cost of living and demand for data science professionals in the region are determined by the site of work. This may have an immediate impact on your compensation. Choose the city like Mumbai or Bengaluru which are known as IT-hub.
- Acquire industry-relevant skills
Your skill set and level of experience in it can greatly impact your compensation. You may advance in your profession and ask for a higher wage by learning new skills that are appreciated and in demand in the industry. Learn skills like data mining, programming, machine learning to get a higher pay.
READ MORE: How to get into the Data Science industry
Professionals that understand how to use data will always be in demand. More individuals will and already are making the journey into the realm of data as demand rises.
Online Manipal is a perfect platform for you if you are interested in learning more about various careers and salaries for data science specialists. It offers courses like online M.Sc. in Data Science and MBA in Data Science designed by the Manipal Academy of Higher Education (MAHE) and equips you with pertinent materials that will aid you at the beginning of your data science career. Enroll today.
Keep Reading, Keep Learning
Preparing for the post-Covid-19 world
Online degree courses at Manipal University Jaipur – All you need to know
Five ways to fund your education and get the management degree of your dreams
Trying to get into a top university? Here’s what you need to know
Online vs. campus learning: What should you opt for?