Before applying for any job, we first check the salary figures associated with it. Here we are talking about data scientist job which is the most popular one. Everyone who is interested in this must want to know the salary figures of a data scientist.
What does Data Scientist do?
A data scientist mines complex data and deliver systems-related advice to his/her organization. In a team, they manage statistical data and look at what their company needs to create different models. A data scientist knows how to interpret data and extract meaning from it.
Since data is rarely ever clean, s/he spends time collecting, cleaning, and munging it. S/he needs skills like statistics, machine learning, software engineering skills, persistence, and being human. That person also spends time in exploratory data analysis- in visualization and data sense.
S/he will find patterns, build algorithms and models, design experiments, communicate with team members, and perform data-driven decision making.
Data Science Job Trends in India
Following are the trends in Data Science job postings per 1 million postings on Indeed –
From the above chart, we can infer that Data Science jobs have been growing in trending charts. In 2019, it is expected that this trend will only grow higher.
Some points to note for Job Trends in India –
- India contributes to 6% of job openings worldwide.
- The total number of data science and analytics jobs in India are 97,000.
- 97% of the jobs are on full time basis whereas 3% are part-time.
- There has been an increase in 45% of total jobs in the year 2018.
- There is an increase of 2% in analytics salary above 15 lac in India.
Salary Range for Data Scientists
According to PayScale.com the yearly salary of a data scientist in India is Rs. 818,099.
Further looking into the stats behind the Data Science salary, we have –
- Average Salary- Rs. 818,099
- Average Bonus- Rs. 100,473
- Average Profit Sharing- Rs 36,667
- Lowest Salary- Rs. 341,000
- Highest Salary- Rs. 2,000,000
- Lowest Bonus- Rs. 20,000
- Highest Bonus- Rs. 321,000
- Lowest Profit Sharing- Rs. 0.00
- Highest Profit Sharing- Rs. 608,000
Data Science Salary According to their Roles
Entry Level Data Scientists
The average Entry Level Data Scientist in India makes about Rs 507,269 per year. These are the people who have just started out in Data Science and have few skills in their technical arsenal.
However, by continuously evolving with the progression of job, one can increase their salary through experience and inclusion of more skills.
Junior Data Scientists
Junior Data Scientists usually have an experience of minimum 2 years in the field of data science. He earns an average salary of Rs 9,21,957 per year according to Indeed.com.
Don’t forget to learn the top programming languages that a Data Scientist Must know
Senior Data Scientist
A Senior Data Scientist are the ones who have been engaged in data science for many years and are acquainted with the very depth of this field. A Senior Data Scientist in India earns on an average, a salary of Rs. 18,21,795.
Data Scientist Salary Based on Location
Major metropolitan cities like Bengaluru, Mumbai and Delhi have a high concentration of data science companies as well as thriving tech companies. Furthermore, various burgeoning startups in these cities are working on data science technologies.
Therefore, there are ample opportunities to find work in these areas. Let us now have a look at how these cities are ranked based on the salaries offered.
Data Science Salary Based on Skills
Based on the skills of a data scientist, the salary also varies. Machine Learning is the most in-demand tool that the data science industry requires.
As a matter of fact, it is the most sought out and highly paid skill in data science. Following are some of the key skills based on which salaries are offered to the data scientist.
Data Scientist Salary Based on the Industry
The salary of a data scientist is dependent on the industry of employment. Based on the industry, the data also varies. Therefore, the specialization of data scientist also differs across the industries.
According to Linkedin, Data Scientists earn the highest salary in the area of Consumer Goods followed by Finance, Energy & Mining, Media & Communication and Corporate Services.
Data Scientist Salary based on Degree
According to a survey carried out by Linkedin, a Ph.D. degree can earn you the highest package in data science. This is followed by a Master’s Degree. Therefore, it is recommended that you have an advanced degree. Furthermore, the field of your study also plays some role in determining salary.
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