How much does a data scientist really earn? Find out how much a data scientist can earn depending on experience, location, industry, specialization and skills.
What’s the role of the Data Scientist ?
Thanks to new technologies such as smartphones, the Internet of Things, and even social networks, companies in all sectors are now accumulating huge volumes of data. The Data Scientist has the ability to reveal the full value of this data by processing and analysing it.
This expert is indispensable for cleaning and transforming data, and for discovering trends by analyzing them or creating Machine Learning models. He is therefore essential for data-driven decision-making, as business leaders rely on the results of his analysis.
In all industries, organizations compete for data scientists to exploit the data in their possession. Logically, therefore, salaries are high and the data scientist job is considered one of the most lucrative in the technology field.
However, the salary of the Data Scientist depends on many factors. In particular, it is impacted by the size of the company and its industry, but also by his or her own skills, experience, and geographic region. Find out how much the data scientist can get paid based on these different criteria.
Data Scientist's salary in France and abroad
In the U.S., salaries rise sharply even though the cost of living is also higher. According to PayScale, the average salary of a Data Scientist in the US is $96,106 per year. However, it should be noted that the salary varies from state to state depending on the demand. In California and New York, the average salary reaches $122,000 per year according to Burning Glass.
As a guide, the average salary for a data scientist is $80,394 Canadian Dollars per year in Canada according to Indeed, $116,000 Australian Dollars per year in Australia according to Glassdoor, $93,000 Singaporean Dollar per year in Singapore according to LinkedIn, and R611,179 ($48301,75) per year in South Africa according to Indeed.
In France, according to our own survey, conducted among CAC 40 companies, a French Data Scientist earns between 35 000€ and 55 000€ per year.
In other European countries, the average Data Scientist salary is £50,585 ($82,320.45) per year in London according to Glassdoor, $49,079.68 per year in Spain according to Indeed, and $80,251.93 per year in Germany according to PayScale.
The Data Scientist job also offers the opportunity to travel, as these skills are in demand all over the world. In India, for example, the average salary is 708,012 rupees per year or $8,055.76. This may not seem like much, but the cost of living is also very low in this distant country.
The Data Scientist's salary according to his experience
The salary of a Data Scientist varies greatly depending on his/her experience. In France, a Data Scientist with no experience earns an average of 46,309€ ($49,851) while the salary reaches 56,666€ ($61,000) per year on average after three years of experience.
In the United States, according to O’Reilly, each year of experience brings an additional $2000 to $2500. According to BurtchWorks, the average salary is $95,000 for a beginner, $130,000 on average, and $165,000 for an experienced profile.
What are the different specializations as a Data Scientist ?
There are different specializations within the Data Scientist profession. Some of them allow you to reach a much higher salary.
According to Dice.com, in the United States, a basic Data Scientist earns an average of $108,000 per year. A Machine Learning Engineer, who is able to put Machine Learning models into production, can make $127,000 per year.
A Data Science Manager or Architect makes $140,000 per year. A Chief Data Scientist can make $146,000 a year. Finally, a “Director of Data Science” can reach a salary of $169,000 per year.
Data Scientist Salary by Industry and Company
Data Scientists are in demand in all industries, but some have greater needs and are willing to offer more attractive salaries. The highest-paying sectors are cloud services, social networks, and finance.
Salary also varies depending on the size of the company. Unsurprisingly, the highest-paid data scientists work for large technology companies. The average salary is $152,856 at Google, $145,974 at Apple, $135,360 at Twitter, $134,715 at Facebook, $123,909 at PayPal, $127,852 at Airbnb, and $123,328 at Microsoft.
What are the most valued Data Scientist's skills ?
Some rare skills allow the Data Scientist to increase his salary considerably. Computer programming, mastery of Big Data tools, Cloud Computing and Data Visualization are among the most valued skills.
Similarly, personal qualities such as scientific curiosity, business knowledge, communication skills and leadership can greatly increase compensation.
According to PayScale, the skills that can increase the Data Scientist’s salary are Apache Hadoop (8%), Python programming language (5%), Machine Learning (4%), Big Data analysis (3%), and Data Mining (2%).
Data Scientist: a job in high demand ?
With the rise of new data-driven technologies, such as artificial intelligence and machine learning, data scientists are increasingly in demand. According to the Bureau of Labor Statistics, the number of job openings will increase by 14% through 2028.
Similarly, Burning Glass predicts a 19% growth over the next ten years. Already today, it takes 44 days to find a qualified candidate for a job opening. This means that companies are competing for the best experts…
How to become a Data Scientist ?
As you can see, the Data Scientist job allows you to earn a high salary. However, in order to do so, it is necessary to acquire important technical skills.
To reach this goal, we recommend the Data Scientist training from DataScientest. This course can be done by everyone who has a good general knowledge of mathematics and statistics.
Through this program, you will learn all aspects of the data scientist’s job. You will learn how to define which data to extract and process according to the company’s needs, how to collaborate with Data Engineers and Data Analysts, how to develop predictive models, and how to model analysis results.
The Data Scientist training is divided into seven modules: programming, Dataviz, Machine Learning, and advanced Machine Learning, Big Data, Deep Learning, and AI. You will learn how to use various Data Science tools, such as Python, Matplotlib, SQL, or TensorFlow.
At the end of the course, learners receive a degree certified by Sorbonne University. Moreover, 93% of our alumni found a job immediately after their training.
Like all our programs, this Data Scientist training adopts an innovative Blended Learning approach combining face-to-face and distance learning to combine the best of both worlds. It can be completed in 11 weeks in BootCamp (35 hours per week), or 9 months in Continuing Education (10 hours per week).
If you are already a Data Scientist and wish to increase your skills to increase your salary, we also offer a Machine Learning Engineer training to learn how to put Machine Learning models into production.
From now, you know what the Data Scientist salary is. Discover our complete file on Data Science, and what are the differencies between a Data Analyst and a Data Scientist.
