Like any other industry, the salary of a Data Scientist primarily depends on the following factors:
1. Educational qualification/ Technical Knowledge:
Not only the college you have studied at, but the quality of education is what is more important. Technical knowledge of the programming language preferred by Data Scientists are Python and R. Additionally, the better the data-related skills you have, the more chances are that you will be able to secure a higher-paying job.
The years of experience is another factor essential to determining your current salary or the salary hike you will receive when you change a job. Freshers can expect to make an average of Rs. 10 lakhs annually. Professionals with two to three years of experience can earn around Rs. 30 to Rs. 40 lakhs annually. And a mid-level Data Scientist can make around Rs. 1 crore per annum.
3. Additional specialization:
Being a multidisciplinary field, there are various avenues that you can take once you have completed a degree in data science. The specialization you can opt for, and the corresponding salaries are discussed in the later section.
Your location also plays a vital role in determining your salary. People looking for remote jobs can look to work-from-home options while making an average of Rs. 20 lakhs per annum, depending on the level of their expertise.
Your salary package also depends on the company you join after earning a degree in data science.
Some of the top companies that hire Data Scientists, along with the salary package, are:
People who have just started their journey as Data Scientists are known as entry-level professionals. In India, these entry-level professionals or freshers can make an average of Rs. 7 lakh annually after completing their data science course.
For those with some work experience, switching a job can help them get a good hike in the average salary. Suppose a data science professional begins a career with an annual average salary package of Rs 7 lakh. In that case, they can expect to bag a package of Rs 10 lakh annually while switching jobs. But those with exceptional skills, knowledge, and capabilities can even land a job that pays more than junior data scientists’ take-home yearly salary.
Average Salary Hike
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