In this post, we will throw some light on what is the average salary for a data scientist. You can also check out this post if you’re interested in learning about: What Is the Average Salary for a Data Scientist in San Francisco? What Is the Average Data Scientist Salary in India? What is the Median Salaried Compensation of a Data Scientist?
The average salary for a data scientist is $120,000.
Data science is a relatively new industry, and as such, it’s still subject to a lot of variation in pay. But according to Glassdoor, the national average salary for a data scientist is $120,000 per year.
This number varies wildly depending on where you live. For example, if you work in San Francisco or Seattle, expect to make closer to $160K per year; but if you’re looking for an entry-level position in New York City or Chicago, it’s more likely to be closer to $100K per year.
What is the average salary for a data scientist
Welcome to the Data Science Salary Guide. In this article, we’ll explore all things data science salary — how much do data scientists make, which industries pay the most, and how to land a high-paying data science job.
In 2020, the national average salary for a data scientist is $117,345 per year, which is 6.7% higher than the previous year.
The national average salary for a data scientist is $117,345 per year, which is 6.7% higher than the previous year’s average salary of $112,973.
This figure changes depending on where you live and what industry you work in. For example, data scientists who work in New York earn an average annual salary of $125,000 and those who work in Washington D.C. earn an average annual salary of $128,000—the highest salaries in the nation!
The national median wage (the midpoint value) is around $105k and this number varies by location as well (i.e., it will be higher/lower).
The best way to determine what your local market looks like is by using Payscale’s Local Salary Report tool or indeed’s Salaries By Industry tool which allows you to narrow search results based on zip code or city name (e.g., “Boston”, “New York City”).
Salary of a data scientist by year of experience
Let’s look at the average salary of a data scientist by year of experience:
- Data scientists with 1-5 years of experience earn an average of $112,849 per year.
- Data scientists with 5-9 years of experience earn an average of $117,036 per year.
Data Scientist Salary by Industry
The salary for a data scientist varies widely by industry. Data science salaries are highest in the banking, insurance, and finance industry, where the average annual wage is $132k. The government and public administration sector has the lowest average salary ($105k).
Data scientists working in the Northeast region of the US earn an average of $116k per year—the highest among all regions. Those employed in California make an average of $120k annually; those in New York make $117k; those in Texas make $115k; and those in Florida make $113k.
A significant number of companies are looking to hire data scientists: More than 70% expect their hiring needs to remain steady or increase over the next 12 months (according to Bersin & Associates’ HCM Workforce Planning Survey).
Data science salaries by location
Data science salaries vary widely by location, as do other tech-related salary ranges. Here’s a list of the average salaries you can expect in your country:
- United States: $120,000
- United Kingdom: $109K
- India: $33–$49K (depending on experience)
- Canada: $99–$142K (depending on experience)
- Australia: $108–$128K (depending on experience)
Data Science Tools
You can get a job as a data scientist with the following skills:
- Hadoop (MapReduce)
- Spark, TensorFlow, Kafka, etc.
One of the best ways to get a job as a data scientist is to be interesting. Data scientists are often looking for people who can bring new ideas and experiences to their company, so make sure you have some unique skills or interests that will set you apart from other candidates.
- If you enjoy art, consider taking classes in an art-related field and then sharing your work online as part of your application.
- If you’re interested in playing sports, this could also be a good way of distinguishing yourself from other applicants.
- You could also volunteer with an organization that relates to your area of interest (e.g., if you like animals, volunteer at an animal shelter).
The national average salary for a data scientist is $117,345 per year
Data Science is a growing field and one that’s in high demand. Data science can be hard to learn, hard to find and hard to retain. The national average salary for a data scientist is $117,345 per year.
To find out more about your salary as a data scientist, visit our site. We have all the information you need to make an informed decision on your career path.