Are you curious about the highly sought-after field of data science and the potential it holds for your career?

Data science has experienced exponential growth in recent years, making it one of the most promising career paths in the country. Whether you are a fresher or an experienced professional, understanding the Data Scientist salary landscape is crucial for making informed career decisions. In this comprehensive guide, we will explore the fascinating world of data scientist salaries in India.

Before we delve into the intricacies of data science salaries, let us understand the importance of data science in the current industrial landscape. Data science combines various methodologies to extract valuable insights from vast amounts of data.

By leveraging artificial intelligence (AI) and machine learning algorithms, data scientists process and analyze data to derive actionable information with commercial value. The insights generated through data science enable businesses to more make informed decisions, gain a competitive edge, and drive meaningful business growth.

Who is a Data Scientist?

Before going any deeper, let us understand the role of a Data Scientist.

Data scientists are analytical professionals who possess a unique blend of expertise in computer science, mathematics, and statistics. Their role involves collecting, analyzing, and evaluating large datasets to identify patterns and extract meaningful information.

By combining industry knowledge, contextual insights, and critical thinking, data scientists offer innovative solutions to solve complex business challenges. They play a pivotal role in bridging the gap between technology and social sciences and contribute to the success of organizations across various industrial sectors.

Factors Influencing Data Scientist Salary in India

The interesting aspect of Data Science careers is the salary potential. In India, Data Scientists enjoy attractive compensation packages right from the beginning, even as freshers in the industry.

The average salary of a Data scientist in India is approximately INR 9,20,000 per year, according to Ambition Box. However, it’s essential to note that several factors influence data science salaries, such as experience, skills, job roles, company, and location.

1. Experience

Experience plays a significant role in determining data science salaries. Entry-level designers may start with a lower salary, but as they gain experience and expertise in on-demand skills, their earning potential increases. Mid-level and seasoned Data Scientists with several years of experience can demand higher salaries, given they keep up with evolving trends and Data Science advancements.

Salary Based on Experience

• As a fresher with less than one year of experience, you can expect an average data scientist salary of around INR 5 – 7 Lakhs per year.

• With 1-4 years of experience, your earning potential increases to approximately INR 8 – 9 Lakhs per year.

• Mid-career data scientists with 5-9 years of experience can command an average annual salary of up to INR 16 Lakhs per year. And, those with 10-19 years of experience can earn up to INR 25 Lakhs per year.

2. Skills

Having a diverse skill set can significantly impact your data scientist salary. In-demand skills like machine learning, Python, statistical analysis, and big data analytics can enhance your earning potential.

Employers value professionals who possess a comprehensive understanding of these skills, as they contribute to more efficient data analysis and problem-solving. By continuously upgrading your skills, you can stay competitive and command higher salaries in the data science job market.

Salary Based on Skills

• Data Scientists with Machine Learning expertise can earn around 5 lakhs INR to 16 lakhs INR as they advance in the industry.

• Data Scientists with sound knowledge and experience in AI can earn a handsome salary in the industry space.

• Professionals with expertise in Big data get paid well compared to others.

3. Companies

The choice of employer also plays a crucial role in determining data science salaries in India. Prominent organizations often offer more lucrative compensation packages to attract top talent. The reputation and size of the company determine the data scientist salary of its employees. Companies like IBM, Wipro, Deloitte, Amazon, Microsoft, Accenture, and Flipkart are known for their competitive salaries for data scientists.

It is worth noting that different positions within these companies may have varying data scientist salary ranges, so it’s essential to research and compare offers before making a decision.

4. Location

Geographical location is another significant factor influencing data science salaries in India. Major cities like Bangalore, Mumbai, Chennai, Delhi, Gurgaon, Hyderabad, Pune, and Noida offer abundant job opportunities in the field of data science. Salaries can vary depending on the cost of living and demand for data scientists in these cities.

Salary Based on Location

• Data scientists in Bangalore can expect an average annual salary of INR 10 – 11 lakhs per year while those in Mumbai earn around INR 8-9 Lakhs per year.

• The average annual salary of Data Scientists in Chennai is INR 8-9 Lakhs Per year and that of Delhi is INR 9-10 Lakhs per year.

5. Job Roles

Data science encompasses various job roles, each with its own responsibilities and salary ranges. Data analysts, data scientists, and data engineers are some of the key roles in the field. Data analysts focus on collecting and analyzing data to solve business problems and help business stakeholders make more informed decisions.

Salary Based on Job Roles

• Data scientists command an average salary of INR 8 Lakhs per year, given their expertise in data collection, analysis, and translation of insights into actionable strategies.

• Data engineers, responsible for managing and transforming raw data, also earn an average annual salary of INR 8-8.5 Lakhs per year.

Top Industries Hiring Data Scientists and Their Salaries

Data science finds applications in various industries, offering diverse opportunities for Data Scientists. Let’s explore some of the top industries and their corresponding salaries for Data Scientists in India.

Retail

Leading retail companies like Amazon, and Flipkart offer average annual salaries of approximately INR 20 Lakhs to Data Scientists.

Healthcare

Prominent Pharma companies compensate Data Scientists with an average salary of around INR 12 Lakhs per year.

Logistics

Famous logistics companies offer compensation of INR 16 Lakhs per year as a Data Scientist Salary on average.

Finance

Finance companies like Bajaj Finserv provide data scientists with an average salary of INR 12 lakhs per year.

Banking

HDFC, a leading banking firm offers an average Data Scientist salary of INR 17 Lakhs per year.

Telecommunication

Vodafone, a leading telecommunications company, pays data scientists, an average salary of around INR 11.5 Lakhs per year.

Automotive

Tata Motors, a renowned automotive company, offers an average data scientist salary of approximately INR 12-13 Lakhs per year.

Digital Marketing

Data Scientists in Marketing and advertising Companies earn an average annual salary of around INR 10 LPA in India.

Professional Services

Accenture compensates its Data Scientists with an average salary of around INR 12 Lakhs per year. And, Software product companies pay around INR 10 Lakhs Per year.

Cyber Security

McAfee, a cybersecurity company, rewards its mid-level and senior data scientists with salaries ranging from INR 19-21 lakhs per annum.

Mining, Quarrying, and Oil and Gas Extraction

Shell, a leading company in this sector, offers senior data scientists with an estimated salary of around INR 19-22 Lakhs per year.

Media & Entertainment 

ZEE Entertainment & Enterprises, a prime player in the entertainment market pays around INR 18 Lakhs per year for their Data Scientists.

Tips to Advance Your Data Scientist Salary

If you aspire to maximize your earning potential as a data scientist, consider the following strategies:

Continuous Skill Development

Staying updated with the latest advancements in the field of Data Science is crucial for career growth and a rewarding job with higher salaries. Let us find out what skills help Data Scientists skyrocket their salaries.

Data visualization

As you advance in a career, the role of Data Scientist isn’t limited to just analyzing, organizing, and categorizing data, you’ll also need to master data visualization & trending data visualization tools like Power BI Tableau, and Microsoft Excel. By honing your visualization skills, you can effectively communicate the value of your work.

Continuously upgrading your skills in fields like machine learning, programming languages (e.g., Python), statistical analysis, and big data analytics will make you a more competitive candidate and open doors to better opportunities.

Interpersonal skills

You’ll have to develop corporate interpersonal skills like communication, team management, listening, organizing, storytelling, accountability, Leadership, and more. Improving your interpersonal skills will help you collaborate with ease and build strong relationships at work.

Cloud computing

As an evolving Data Scientist, you should be proficient in cloud computing tools such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.

Machine Learning and Deep Learning

As a data scientist, it’s important to master machine learning and deep learning. These techniques can enhance your skills by enabling you to gather and synthesize data more efficiently and predict the outcomes of future data sets.

Pursue Certified Courses

Obtaining relevant certifications in data science can serve as a testament to your expertise and dedication. Certifications offer a structured learning path and provide validation of your skills, making you a more desirable candidate for high-paying positions. Consider enrolling in reputable data science certification programs to enhance your knowledge and boost your resume.

If you are looking to upskill your Data Science skills, Sign up for GUVI’s certified Data Science – Zen Class program and earn a high-paid data scientist job in just 3 months.

This is a comprehensive program available in Tamil, English, and Hindi with IIT certification in Advanced Programming and placement assistance.

Build a Portfolio

Building an online portfolio is a great way to stand out in the crowded Data Science job market. Showcase your technical projects and visualization skills to attract job opportunities with high salaries. Building a strong track record of successful projects and demonstrating your ability to deliver results can lead to higher salaries and better job prospects.

Gain Experience

Experience is a critical factor in determining data science salaries. Seek opportunities to work on challenging projects, take on leadership roles, and continuously develop your expertise.

Closing Thoughts

We hope that this blog might have helped you understand the salary landscape and the factors that influence data scientist salaries, essential for making informed career choices.

Data science offers an exciting and lucrative career path in India. With the growing importance of data-driven decision-making, businesses across industries are in desperate need of skilled data scientists.

As companies increasingly recognize the value of data-driven decision-making, the importance of data scientists will only continue to grow. So, if you’re considering a career in data science, now is an excellent time to pursue it.

Embrace the world of data science and embark on a rewarding career with handsome salaries that combine cutting-edge technology, analytical thinking, and business acumen. If you have any questions regarding the Data Scientist salary in India, let us know in the comments below. Happy Learning!

FAQs

1. Do I need a degree to become a data scientist in India?

While a degree in computer science, mathematics, or statistics can be beneficial, it is not always a strict requirement to become a data scientist. Many data scientists come from diverse educational backgrounds. However, acquiring relevant skills and knowledge through certifications and practical experience is crucial.

2. How can I improve my data scientist salary in India?

To maximize your earning potential as a data scientist, you should stay focused on gaining in-demand skills, obtaining certifications, gaining valuable work experience, building an excellent portfolio, and targeting positions in top companies. Also, staying updated with the latest industry trends and continuously improving your skill set can contribute to a higher salary.

3. What are the career opportunities for Data Scientists in India?

Data science offers excellent career advancement opportunities, especially in India. As industries continue to require data-driven insights, data scientists can expect to grow into managerial positions or specialize in specific fields like big data analytics, deep learning, or artificial intelligence.

4. How hard is data science?

Data Science might appear difficult to learn and understand in the beginning. Continuous skill development, strong foundational knowledge, and practical experience can make Data Science, an interesting field of study. To get a more structured experience, one can sign up for a certified online course in a reputed learning academy.

5. What is the future of data science?

With the rapid advancement of technology and the exponential growth of data, the field of data science is expected to continue to expand in the coming years. This means that the demand for skilled data scientists will remain high, leading to more opportunities and potentially higher salaries in the future.