Career opportunities in data have exponentially grown in the recent few years. Companies are eager to capture data and derive insights from it because of the technological advancements we are seeing. Accessibility of the data today can help to reap multiple benefits organizations from it. Because of this reason, companies are not shying away from offering increased data scientist salaries. Companies are throwing huge salaries at those having skills to take on the positions of Data Analysts, Scientists, Engineers, etc. This is especially true for a data scientist’s salary.
India is the second-highest country to recruit employees in the field of data science or data analytics, etc. with 50,000 positions available – second only to the United States. The demand for data experts is equally competitive, whether you look at the big companies, the e-commerce industry or even start-ups.
Thus, if you have the required skillset and are ready to keep yourself updated, your career as a Data Scientist is expected to keep growing onwards and upwards. This line stands true especially when we consider that a data scientist’s salary is directly or indirectly dependent on how upskilled and updated they are.
Salaries by city
The number of job opportunities and the annual data scientist’s salary for data innovators is the highest in Mumbai, followed by Bangalore and New Delhi. However, since Bangalore is the startup capital of India, it has the most opportunities for jobs in startups. A data scientist’s salary in Bangalore would more likely to be higher than the other cities as it is considered to be the hub of the tech industry of India. Below is the ranking of the mean annual pay in (INR) lakhs, according to Analytics India Magazine:
- Mumbai: 11.4
- Bangalore: 10.3
- New Delhi: 9.9
- Pune: 8.8
- Chennai: 8.4
- Hyderabad: 8.3
Salaries by years of work experience
A career in data especially appeals to young IT professionals because of the positive correlation between years of work experience and higher-paying salaries. Salaries in the field of data might look something like the following, in the future:
- A fresh graduate – amongst the 81% of graduates who enter the data industry – could expect a starting salary of INR 4 lakhs (annually).
- An employee with 5-10 years of experience would have the potential to secure between INR 6-10 lakhs.
- A highly experienced employee with decades of experience or who has held managerial roles can expect anywhere from INR 24 lakhs up to a healthy crore of rupees!
A Data analyst’s salary increases by 50% with a transition/promotion from the role designated to them to a higher level.
Salaries by skills
In order to secure such a high-paying job, you are expected to go beyond the qualifications of a Master’s degree and be familiar with the respective languages and software utilized for managing data. Some more insights from AIM:
- The most important and coveted skill is being familiar with R followed by Python. Python salary in India alone promises of 10.2 lakhs INR.
- The combination of knowledge of Big Data and Data Science increases a Data Analyst’s salary by 26% compared to being skilled in only one of the areas.
- SAS users are paid between INR 9.1-10.8 lakhs versus SPSS experts earning INR 7.3 lakhs.
- Machine Learning salary in India starts from around 3.5 lakhs INR to if you grow in this field it can take a leap up to 16 lakhs INR. Python is one of the most recommended languages when it comes to ML, and to add to that, Python developers’ salary in India is among one of the highest.
- Extended knowledge of Artificial Intelligence can help you make a career overall. The Artificial Intelligence salary in India offers not less than 5-6 lakhs INR if you are a novice in this industry.
So, now is the time to master your skills in data in order to further optimize your salary!
Salaries by companies
Without a doubt, prestigious firms dominate the charts of the highest paying salaries for data jobs. They also hold a reputation for increasing salaries by 15%, annually. Some data from Quora:
- IBM Corp: INR 1,468,040
- Accenture: INR 1,986,586
- JP Morgan Chase and Co: INR 997,500
- American Express: INR 1,350,000
- McKinsey and Company: INR 1,080,000
- Impetus: INR 1,900,000
- Wipro Technology: INR 1,750,000
Salaries in India
You can notice an exuberating hike in the Data Scientist’s salary in India. To sum up, even if you find a tad bit of curiosity in this enterprise, there are much higher chances for you to earn higher than your peers working in any other field. Data Science is a much bigger umbrella which includes a vast variety of subjects that might interest you. From Data Analyst to Machine Learning Engineer, to even Python Developer. All of it comes under the umbrella of “Data Science”, and each of these positions is awarded a hefty salary, obviously, depending on their skillset.
The opportunities for Analysts and Data Scientists are currently at their prime in India. With the large volumes of data being generated by businesses and the availability of data and tools to extract it – and the urge to gain insights from it. It includes the rise in Data Analyst’s salary and Data Scientist’s salary. You are likely to receive an annual bump up of around 15% in your salary. This will further increase with an increase in the years of work experience and the number of skills you’ve mastered. Therefore, whether you’re starting from scratch or you’re already experienced in the field of data. You’ll always have this motivating factor driving you in your career!
Shaheen is currently studying at the University of Warwick. She is majoring in BSc Economics with a minor in Politics and International Studies. She completed her high school at the United World College of South East Asia in Singapore and JB Petit High School for Girls in Mumbai.
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