Data Scientist Salary Trends For FY 2020

Data Scientist is one of the most desired titles in the field of Data Science and Business Intelligence today and has actually been labelled as the “sexiest job of the 21st century” for all the right reasons. A data scientist has the potential to decode the hidden information from a generous amount of raw data.

From processing information to cleaning it, every step needs perseverance, a great deal of maths, and statistics, with tones of engineering skills. When the foundation is complete, data scientists must discover patterns, build models, either understand product use and overall health of the product or serve as prototypes that ultimately get baked back into the product. As a result, data scientists are a critical part of data-driven design decision making and communicating the same to their organisation.

Organizations today are keen to hire the most effective data scientists, and this demand clubbed with exquisite skillsets that are a vital demand are making the salaries rise higher than ever.

Data Scientist Salary and Career Potential 

Over the last few years, the global focus has moved more towards data and the new-age tech fields like AI, Machine Learning, and due to this Data Science has seen substantial development. The demand and salary of Data Scientists are growing incredibly. According to the Bureau of Labor Statistics (BLS), jobs for computer and data scientists will certainly experience a 14 percent increment by 2028.

Data Scientist Salary by Experience

Experience is among the vital aspect in almost all professions; however, this stands incredibly prominent for a data scientist’s salary as well.

Entry-level Data Scientist Salary

An entry-level data scientists in a lot of cases is someone who has graduated from a college or someone senior who has actually lately changed his domain and mostly have no previous experience in the field. Usually, their focus is on understanding and learning the topic. Organizations that employ Data Science beginners or amateur data researchers provide them with business-based training and proper preparations for the job.

According to ZipRecruiter, the yearly salary for entry-level data scientists is estimated to be $69,000.

The average income for a mid-level data scientist is $89,000.

Experienced Data Scientist Salary

Senior Data Scientists are very well versed with who have devoted their lives to the data science profession and are one of the most critical and vital sources of the team and also, to their, their organization. A senior data scientist salary is one that you need to be aiming for due to the fact that they earn one of the most significant money out of all of their associates in the same profession.

According to ZipRecruiter, the average income for a seasoned data scientist is $1628,000– while the average salary for an experienced manager-level data scientist is considerably greater at $184,000.

Data Scientist Salary by Region

Data Scientist Salary in India

There are several Data Scientists job openings in India, giving opportunities to data science professionals to prosper in their career or data fanatics who want to start a job in this field. According to Naukri, one of the leading Indian job-seeking site, more than 50,000 data scientist jobs are readily available in India.

According to PayScale, the average income of a Data Scientist in India is 708,012.

Data Scientist Salary in the US

As specified by the United States of Labor Statistics, the employment of all computer and data scientists are anticipated to increase 19 percent by the year 2026, which is regarded much faster than the average for all careers. About 5,400 new job openings are forecasted over the decade. According to LinkedIn, there are 20,000+ data science job opportunities in the US today.

According to PayScale, the average wage of a Data Scientist in the US is $96,106.

Data Scientist Salaries in Various Regions

• According to Glassdoor, the average income of a Data Scientist in Australia is A$ 116K annually.
• According to Undoubtedly, the average wage of a Data Scientist in Canada is $80,394 each year.
• According to LinkedIn, the average salary of a Data Scientist in Singapore is SGD93,000 per year.
• According to Glassdoor, the average wage of a Data Scientist in London is ₤ 50,585 each year.
• According to LinkedIn, the average salary of a Data Scientist in Mexico is MX$ 3,96,000/ year.
• According to Undoubtedly, the ordinary salary of a Data Scientist in South Africa is R 611 179 per year.
• According to Indeed, the typical wage of a Data Scientist in Spain is EUR34,000/ year.

Shape Your Data Science Career

Data is an omnipresent force ruling our lives now and will be for the near future, and data science jobs are growing like never before. From the financing industry to the health care and education to the bank sector, every field is opening up doors for data science experts can draw actionable understandings from such substantial quantities of data.

Opportunities in the field are limitless, and job role in Data Science assures plenty of options and high-paying wages. The Data Scientist Master’s Program at ZaranTech will help you accelerate your profession and assist you to acquire hands-on exposure to important technologies, consisting of R, SAS, Python, Tableau, Hadoop, and Flicker. 

Bottom line

Sign up now to our online training program to become a data science specialist and enter the amazing world of data. Also if you’re looking for more such engaging and interactive articles, feel free to browse through our blog section.