Data Scientists' and Analysts Average Salary

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Data Science and Analysts Average Salary – How Much Do a Data Analyst Make in India?

Introduction

  • In recent years, data science has drawn global attention due to its impact on the global economy. Industries like Manufacturing, Agriculture, Marketing Analytics, and others too numerous to mention hire data scientists to help them solve complex mathematical processes and systems. 
  • With lots of opportunities in the Indian economy, being a Data Scientist is a highly lucrative as it comes with lots of perks and emoluments. 
  • So, how much does a data scientist earn? Read on to find out!
  • In this article, we will walk you through Data Scientists’ job roles and also explore their salaries by industry, experience, degree, as well as companies, among others.
  • Let’s get started.

What Do Data Scientists Do in a Typical Organization?

  •  Data Scientists have the technical skills to solve complex problems for every organization they work in. They critically study what an organization needs and carefully create different models to meet the organization’s requirements. They also interpret raw data and develop meaningful content from it. 
  • That’s not all; Data Scientists spend ample time gathering, cleaning, and munging collected data. Plus, they possess machine learning skills, Python, Data Analysis, R, as well as Statistical Analysis skills.  
  • Also, Data Scientists build models and algorithms, find patterns,  design experiments, carry out data-driven decision making, and communicate effectively with other team members. 

How Much Do They Earn?

  • Generally, the salaries earned by Data Scientists vary from one industry to the other due to factors like education, experience, skill sets, and certifications. 
  • Another important factor that largely contributes to the determining of a Data Scientist salary is the state in which he/she is working. 
  • The following is a breakdown of what Data Scientists earn in India;  

Data Scientists Minimum salary

  • The minimum amount payable to Data Scientist in India is ₹477,000 annually. If you are a beginner in the field, you should expect to earn around this figure. 
  • As you climb the professional ladder, your salary will increase with time.  

Average salary Of Data Scientists

  • According to Glassdoor, the average national salary payable to Data Scientists by Indian companies is ₹ 1,036K annually. 

Salary Package For Entry-Level Data Scientists

  • Entry-level Data Scientists are those that recently got a job after graduating from university or college. They typically have less than one year of experience. 
  • The salary earned by entry-level Data Scientists, according to PayScale is ₹ 508, 682 per annum based on 56 salaries. This amount includes bonuses, tips, as well as overtime payment. 

Junior Data Scientists Salary

  • Generally, Junior Data Scientists have between 2 to 4 years of work experience. According to Indeed,  they earn around   Rs 9,21,957 annually. 

Senior Data Scientists Salary

  • Senior Data Scientists typically have more than 15 years of work experience in the field of data science. In India, employers pay them an average of India earns on an average, a salary of Rs. 18,21,795 annually. 

Data Scientists Highest salary

  • The highest salary payable by Indian-based companies is within the range of Rs. 18,21,795. 

Data Scientist Salary By Location

  • The following table shows the top-paying locations in India for the data scientist:

Data Scientist Salary By Location

Note: Consider city expense as a major factor if you are living in any of the above cities. For instance, a Data Scientist living in the Kolkata area would spend less on rent and other basic needs of life than the one living in Mumbai or any other states on the table.  

Data Scientists Salary By Skills

  • According to payscale, the salary break up by skills are as follows:
    • Python – ₹ 512,185
    • Machine Learning – ₹ 571, 866
    • Data Analysis – ₹ 495,204
    • R – ₹ 510,121
    • Statistical Analysis – ₹ 552, 092
  • From the above analysis, you can see that Data Scientists with data analysis skills earn the least while those with machine learning skills earn the highest. 
  • The reason for this disparity is not far-fetched. Machine learning is one of the most sought-after skills in the data science industry. 

Salary by industry

  • We mentioned earlier that the salaries of Data Scientists differ from one industry to the other. According to LinkedIn, the following are the salaries of Data Scientists by industry from the highest to the lowest
    • Consumer Goods – ₹ 1.3M
    • Finance – ₹ 1.2 m
    • Energy & mining – ₹ 1.2m
    • Media & communication – ₹ 1.0m
    • Corporate Services – ₹ 1m

Data Scientists Salary by Degree

  • A survey conducted by LinkedIn showed that Data Scientists with a Ph.D. degree are the highest salary earners. This is closely followed by holders of Master’s degrees. This means for you to earn high as a Data Scientist, you need to acquire more certificates. This way, employers will value you more and will be ready to increase your pay. 

Salary by experience

  • PayScale in one of their surveys suggested that entry-level Data Scientists earn an average of   ₹ 508, 682 per annum as salaries and emoluments. 
  • Those with 5 to 9 years of working experience earned around ₹1,004,082, while Data Scientists with over 19 years’ working experience earned around ₹1,724,618. 

Salary by Companies

In no particular order, the following are the most reputable companies in India hiring Data Scientists and their corresponding salaries: 

  • Mu Sigma Inc.  – 600,000/yr
  • Range: 302,000 – 745,000
  • Tata Consultancy Services – 860,000/yr
  • Range: 207,000 – 1,930,000
  • Accenture – 1,000,000/yr
  • Range: 293,000 – 2,700,000
  • Microsoft – 1,930,000/yr
  • Range: 750,000 – 2,850,000
  • Cognizant – 753,000/yr
  • Range: 428,000 – 1,620,000
  • Fractal Analytics – 1,150,000/yr
  • Range: 737,000 – 1,900,000

Final Thoughts

  • And that would be it. Data science is a lucrative field to venture into. As a beginner, you may not earn fat salaries, but as you climb the corporate ladder and acquire more certificates, your salaries and emoluments will increase.  
  • If you still have doubts regarding any of the salary category, feel feel to share your doubts with us using the comment box below.

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