Data scientists are among the most sought-after profiles on the Canadian job market at the moment. This implies a very competitive salary for professionals in the sector.
According to the barometer of the job platform Glassdoor, the average salary of a data scientist in Canada in 2023 is $91,200 per year. This salary is a global trend in the country. However, there are variations depending on the experience or the city in which the data scientist works. Learn what are the factors which define the salary in Canada and what tips can make it increase. Learn about the different parameters of salary variations in Canada in Data Science, the industries in demand and the tips to increase your data scientist salary.
Data Scientist salary variations
Although the average salary for a data scientist in Canada is $91,200 per year, it is important to note that this amount can vary depending on the city, experience or industry in which the employee works. Some salaries may be higher if a data scientist works in a big city and has 15 years of experience. A beginner will start with a lower salary, especially in less active provinces.
Variations by location
The location may have a significant impact on a Data Scientist’s salary. Once again, according to the job platform Glassdoor, the average salary for a Data Scientist in Toronto is $94,300 per year. Data Scientists working in major cities such as Toronto and Vancouver tend to earn more than those in less populated areas. Additionally, provinces such as British Columbia and Alberta tend to have higher salaries for Data Scientists.
Variations by experience
One of the most significant factors that affect a Data Scientist’s salary is their years of experience. An entry-level Data Scientist won’t have the same salary as someone who’s been working for 5 to 10 years. We estimate junior Data Scientist salaries in Canada between $60,000 and $80,000 per year. Professionals with several years of experience can expect earnings upwards of $120,000 or even more, depending on the company they’re working for. Your job title (“Junior Data Scientist” or “Senior Data Scientist”) plays a role here.
Variations by industry
The industry in which a Data Scientist is working in plays a massive role in determining salaries. Some industries like finance or technology tend to pay higher wages than companies in other domains. Also, the size of the company is critical. Data Scientists working for large companies earn more than those working in small companies or agencies. Larger organizations often offer more attractive bonus packages.
High-demanding recruiters in Canada
In Canada, recruiters are highly in demand for Data Scientists. Here are four examples of industries requiring professionals with the skills to collect, analyze and interpret data:
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- Technology: software development companies like tech giants, Software-as-a-service companies or agencies are in high-demand for Data Scientists as they rely on data to optimize their operations.
- Finance and banks: financial institutions, advisors and banks need Data Scientists, as they rely on their skills to assess risk, make informed decisions and improve their advice.
- Telecommunication: Data Scientists are very useful to analyze the customer behavior, network usage and other useful factors to improve their services.
- Retail: ecommerce and brick and mortar businesses analyze trends, customer behavior, optimize their pricing and the customer journey thanks to Data Scientists.
How to increase your salary as a Data Scientist in Canada?
If you’re a Data Scientist working in Canada, you have many tips that you can use to increase your salary. Thanks to the insights we gave earlier in this article, you might be able to make good decisions. Still, here are three pieces of advice to think about if you dream of a higher wage.
Change your location
As mentioned earlier, the location you work in has an impact on your salary. A Data Scientist working in a large company in Toronto earns more than one working in a less populated region. Towns like Vancouver, Oakville and Toronto are places where the average salary for a Data Scientist is higher.
Learn new skills
Learn new data models, data sources and play with data sets to add experiences to your portfolio. Improving your skills and becoming more experienced through projects will lead you to a better wage.
Become an expert in your field
If you know perfectly your job in the automotive industry for several years, if you have been gaining experience in the automotive industry for several years now, you are a unique talent. Different from other Data Scientists. That’s what makes you special. Become an expert in your field and in your industry to better your salary.
Conclusion on Data Scientist salary in Canada
The Data Scientist salary in Canada varies depending on the experience, location and industry the professional is working in. To improve your salary, you can ask for a job in telecommunication, finance, retail or technology. In addition,there are many factors that can contribute to earning a higher salary in the workforce, becoming an expert in your field, improving your skills or working in a large city give you chances to earn more.