DEMAND FOR DATA SCIENTISTS AND AVERAGE SALARIES OF DATA SCIENTISTS

“Data” is a trending buzzword, its use increasing at a fast rate. An average of 1.7 MB of data is generated every second. To store and manage such huge amounts of data requires a large repository. Due to the demand for technology to accommodate this data, many technology sectors such as big data, cloud computing, business analytics, etc. have been implemented into the processes. A data scientist must have the ability to handle all kinds of data and use it effectively.


Salary of a data scientist

As data science is a challenging field, data scientists earn a larger than average salary. However, there are differences between data scientists, based on factors such as relevant experience, knowledge, region and company size.

There are three kinds of data scientists: entry-level, mid-level and experienced data scientists. Each of their salaries differs. At entry-level, estimated salary would be around $95,000. At mid-level, estimated salary would be $130,000 to $180,000. For experienced data scientists, the salary would be approximately $250,000. This range applies across all countries, though varies according to company size. Data scientists are required at all stages of a business process.

Data scientists may have many different job titles. Different roles of a data scientist include: statistical data scientist, mathematical data scientist, machine-learning data scientist, business analyst and actuarial scientist among many others. There is no limit to the fields that can be described as “data” because it is a huge concept. To be a data scientist you must first know what kind of operation you are comfortable working with. This will determine the career path you choose.  Salaries will vary slightly depending on which field you choose to work in.

Almost every industry requires data scientists. Again, salary depends on which industry you work in. According to a recent study, the greatest number of data scientists is found in tech industries, constituting 45% of data scientists. 14% are employed within the banking sector and the remainder works in the financial sector (the second largest employer of data scientists by sector). There is a huge demand for data scientists globally.

A data scientist’s average salary is Rs 310K-Rs 620K. If you are a student and wondering what education is required to become a data scientist, there are no specific requirements - any university graduate can take up this course, whether your degree is in mathematics, statistics or programming.

No matter what kind of a data scientist you are, the salary will be satisfactory. This is the most deserving career path you can follow.


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This is the best career and its demand is expected to increase even more over the coming years. It is recommended that you take a Data scientist Course in Pune, which provides the best training in data science and can positively shape your future. Completion of the data scientist course, ExcelR will provide you with enormous opportunities for a wide range of job roles which will bring you better job security.

 


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