Data science is a vast field, combining various domains such as knowledge, programming, mathematics, and statistical expertise to shift effective insights from the data. Artificial Intelligence (AI) systems execute job opportunities that usually require human intelligence. Systems like these can provide insights to analysts and businessmen to deploy for consequential commercial value. An individual closely involved in these operations is called a data scientist.
Data science is one of the fields with the quickest growth rates across all industries due to the increasing volume of data sources and data that results from them. You are in the right place to grab insights, statistics, and reliable data along with the salary of data scientists in India and data scientist salary in the US, respectively, in this article.
Who is a Data Scientist?
Data scientists are analytical experts that utilize their understanding of data to spot trends and provide actionable insights. They combine domain expertise, contextual understanding, and skepticism of conventional wisdom to find solutions to business problems.
Computer science, statistics, and mathematics are all included in the work of a data scientist. Corporations and other organizations analyze the findings of data analysis, processing, and modeling to provide actionable plans.
Data scientists are, therefore, a hybrid of trend analysts, mathematicians, and computer scientists. Due to the strong demand, data scientists earn some of the best incomes in India.
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What Do They Do?
A data scientist's normal day is gathering data from numerous sources, processing it through an analytics platform, and then visualizing the results. They will then spend hours sorting and analyzing the data from various perspectives to find trends that could reveal issues or possibilities.
Data scientists work closely with business stakeholders to understand their goals and find data-related approaches to attaining them. They create the data modeling processes, algorithms, and prediction models, help with data analysis, and work with colleagues to communicate their discoveries to extract the data the business needs. Although every project is unique, the procedure for collecting and analyzing data typically takes the same course:
- To start the discovery process, ask the correct questions.
- Gather data
- Clean up and process the data
- Combine and save data
- The investigation of the first data and exploratory data analysis
- Select one or more potential algorithms and models
- Use data science methods like artificial intelligence, statistical modeling, and machine learning
- Track and enhance
- Show stakeholders the results.
- Modify as necessary in light of comments.
- Repeat the process to solve a new issue.
Average Data Scientist Salary
In this section, we will take a brief look at the average salary of data scientists in India, in the US, and some other countries.
The infographic below illustrates the average salary of data scientists in India.
The infographic below shows the statistics of data scientist salary in the US.
The infographic below shows the statistics of data scientist salary in the UK.
The infographic below shows the statistics of data scientist salary in the Australia. Source
The infographic below shows the statistics of data scientist salary in the Canada.Source
Data Scientist Salary Based On Experience
|Entry Level Data Scientist Salary||Rs. 507,269 per annum||(86,000 USD)||£42,000||$103,921||C$71,801|
|Junior Data Scientist Salary||9,21,957 per annum||(100,000 USD)||£35,926||$106,561||C$104,789|
|Senior Data Scientist Salary||18,21,795 per annum||(123,000 USD)||£80,000||$118,377||C$109,333|
Data Scientist Salary Based On Job Role
|Job Role||Salary in India||Salary in USA||Salary in UK||Salary in Australia||Salary in Canada|
|Software Engineer||Rs. 7,65,000/yr||85,000 USD||£66,285||AUD94,535||C$118,000|
|Project Manager (General)||Rs. 15,00,000/yr||98,000 USD||£72,548||AUD104,000||C$216,000|
|Data Analyst||Rs. 6,00,000/yr||76,000 USD||£35,447||AUD86,600||C$114,000|
|Mechanical Engineer||Rs. 25,000/mo||87,000 USD||£35,946||AUD74,135||C$118,000|
|Senior Software Engineer||Rs. 13,00,000/yr||90,000 USD||£51,401||AUD150,000||C$104,230|
|Software Developer||Rs. 7,65,000/yr||82,000 USD||£51,210||AUD112,894||C$75,628|
|Financial Analyst||Rs. 5,0,000/yr||69,000 USD||£45,506.10||AUD122,000||C$160,000|
|Administrative Assistant||Rs. 22,434/yr||45000 USD||£21,734||AUD50,000||C$21.70 per hour|
|Project Engineer||Rs. 4,17,500/yr||79000 USD||£42,376||AUD90,200||C$113,000|
Data Scientist Salary Based On Skills
|Machine Learning||Rs. 911,903||99,743 USD||£56,631||AUD123,780||C$105,868|
|Python||Rs. 818,806||98,719 USD||£64,588||AUD136,765||C$92,060|
|R||Rs. 853,382||91,597 USD||£55,000||AUD350K||C$144,000|
|Data Analysis||Rs. 800,003||93,702 USD||£34,100||AUD86,600||C$77,646|
|Statistical Analysis||Rs. 988,206||98,597 USD||£43,690.18||AUD90,200||C$67,113|
Data Scientist Salary Pay Scale By Location
|Bengaluru||Rs. 10,50,000 p.a.|
|Gurgaon||Rs. 10,30,000 p.a.|
|Hyderabad||Rs. 10,00,000 p.a.|
|Chennai||Rs. 9,00,000 p.a.|
|Mumbai||Rs. 8,50,000 p.a.|
|Noida||Rs. 7,65,000 p.a.|
|Noida Delhi||Rs. 7,20,000 p.a|
|Kolkata||Rs. 6,50,000 p.a.|
|Ahmedabad||Rs. 6,00,000 p.a.|
|New York, USA||(75,000-144,000 USD)|
|San Francisco, CA||(93,000-162,000 USD)|
|Washington, DC||(71,000-130,000 USD)|
|Chicago, IL||(73,000-124,000 USD)|
|Seattle, WA||(80,000-147,000 USD)|
|Boston, MA||(78,000-131,000 USD)|
|Atlanta, GA||(70,000-126,000 USD)|
|Austin, TX||(70,000-132,000 USD)|
|Los Angeles, CA||(76,000-138,000 USD)|
|Dallas, TX||(65,000-121,000 USD)|
|Wales||£41,659 - 47,673|
|New South Wales||AUD 131,721 |
|South Australia||AUD 158,593|
|Western Australia||AUD 93,547|
|British Columbia||C$ 87,268|
|Nova Scotia||C$ 58K|
Data Scientist Salary- By Company
|Mu Sigma Inc. Data Scientist||Rs. 600,000/yr|
|Tata Consultancy Services Data Scientist||Rs. 860,000/yr|
|Accenture Data Scientist||Rs. 1,000,000/yr|
|Microsoft Data Scientist||Rs. 1,930,000/yr|
|Cognizant Data Scientist||Rs. 753,000/yr|
|Fractal Analysis Data Scientist||Rs. 1,150,000/yr|
|Booz, Allen, and Hamilton||(84,363 USD)|
|Facebook Inc||(124,133 USD)|
|Microsoft Corp||(129,284 USD)|
|Business Machines (IMB) Corp||(112,034 USD)|
|Northrop Grumman||(94,120 USD)|
|Apple Computer Inc||(124,677 USD)|
|Capital One||C$ 103,564|
|Scotia Bank||C$ 102,695|
|Bell Canada||C$ 84,400|
Data Scientist Salary Deciding Factors
Now that we've looked at the highest-paying data science companies in India, the USA, and other countries, let us understand the factors determining the same.
Data scientists' salaries may vary depending on their experience, job title, sector, and location. The main cause of high data science wages is the growing reliance of businesses on big data and its capacity to inform strategic business decisions.
Furthermore, there is still a scarcity of data experts, and starting salaries for these professions remain high. Here, we shall look at the factors that impact how much a data scientist makes.
Your salary is significantly influenced by the sector/industry you work in. For instance, a job in the IT, retail, and healthcare sector may get the highest salary of a data scientist. However, those serving the digital marketing industry may get a relatively lower salary.
The role of data scientists is shaped by the growing need for commercialization backed by technology. These professionals tend to make more money in progressive cities and developed countries than in others. For instance, data scientists salary per month in the US owing to its high demand and currency value. Similarly, you can find high-paying job opportunities in metropolitan areas like Mumbai, Delhi, and Chennai compared to less industrialized and remote parts of the country.
The amount of experience a data scientist has will probably have the most impact on their pay. Also, because they have a stronger grasp of the operations, more experienced data scientists are paid more. For instance, some people begin their careers as software developers or data analysts and subsequently gain significant industry knowledge to carve out a niche for themselves.
All of this will affect your earning potential. Thus, junior data scientist salaries in the US and data scientist salaries for freshers in the US will differ accordingly.
All data scientists don't have the same role in the organization. The wide range of job titles (and the duties that go along with them) typically indicates a data scientist's area of expertise, and so do their salaries.
Generally, a data scientist starting salary increases as more administrative responsibilities they perform, such as project management, project identification, finding business challenges that can be solved with analytics or interacting with third parties.
5. Educational Levels
Education level is another factor determining the data scientist's salary in the organization. Also, hard and soft skills are earned to make a difference in job performance. It is not wrong to say that an undergraduate is likely to earn less than someone with an advanced degree.
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Top Companies Who Hire Data Scientists
Globally, big data is changing many different businesses. It's hardly surprising that demand for data scientists is rising rapidly, given how increasingly useful insights gained from data are enabling businesses to make more informed decisions.
Microsoft is a well-known name in consumer software. However, given that Microsoft provides various products for users, developers, and businesses, it's also a fantastic data science company to work for.
The largest individual market shareholder in the cloud infrastructure service sector is Amazon Web Services (AWS), a subsidiary of Amazon that provides cloud computing services. Data is used to continually provide the greatest customer experience across all Amazon platforms.
EY is a multinational accounting and professional services corporation specializing in corporate finance, strategy, consulting, and transactions. Analytics and AI are integrated into their business operations to create new revenue opportunities, manage performance, and drive capital allocation plans.
4. Google (Alphabet)
Data is Google's most valuable resource. It manages information from any website utilizing Google Analytics or AdSense (Google's advertising service). Google provides excellent perks and compensation that are much above the industry standard.
PwC, a global network of professional services companies, uses data to estimate market size, determine risk premiums, and enhance its Total Impact Measurement and Management (TIMM) methodology. Additionally, it provides extensive, adaptable, and competitive pay and benefits.
Data Scientist Job Trends In India
The latest research of April 2022 states that job openings for Data scientists in the segment show a rise of 73.5 per cent from March 2020 to April 2022. Furthermore, India's contribution of data scientists has increased by 11.6 percent from 9.4 percent. Source
The graph above demonstrates the progressive demand for data scientists in India.
- The second week of April displays 179 thousand openings available for data scientists jobs.
- April 2022 reported an increase of 30.1 percent in the same month compared to the previous year.
- Vacancy for Analytics witnessed a rise of 73.5 percent in April.
COVID has left its imprint on the field of data science and analytics profession. The pandemic increased data scientists and analysts' job openings by 73.5 percent in April 2022.
Additionally, India has given its share of 11.6 percent of data scientists to the total global data science job openings, a significant leap from 9.4 percent in June 2021.
Data science jobs in India are 98.6 percent full-time in nature. Only 1.4 percent of jobs allow part-time, internships, and contract-based vacancies.
We have now looked at all the elements that affect a data scientist's pay in India and the USA. Simply put, a data scientist's main responsibility is to sift through enormous amounts of data and organize it into coherent, structured compartments. However, their work is not yet finished because this is a sophisticated and extremely tough profession. These abilities must be honed before and throughout this role's performance. You must strongly consider opting for KnowledgeHut’s Python with data science to sharpen the desired data scientist skills,
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