When searching for a new job, one of the most important considerations is the salary. If you are thinking about a career in data science or a similar field, you are in luck since data scientists and those who work with data earn some of the best incomes in tech.
With an anticipated 36% growth rate between 2021 and 2031, data science is among the fastest-growing jobs, according to statistics from the US Bureau of Labor Statistics. Companies are vying for data science experts in almost every sector so they can make better use of their data and make more informed business choices. Competition between organizations to hire data specialists is high compared to other IT areas because supply is still behind demand. Because of this, companies are prepared to pay top dollar for data scientists with exceptional skills like data visualization.
Data science salaries might vary greatly among specialists, despite the lucrative honeymoon this sector is now enjoying. Factors such as experience, abilities, job title, and firm size are considered by employers when setting salaries.
Here is a rundown of the salaries of data scientists:
Experience-Based Data Scientists’ Salaries
Where do data scientists usually fall on the salary spectrum? Glassdoor reports that data scientists in the US earn an average base salary of $146,422 per year.
Based on an analysis of 8,912 income profiles, PayScale provides an average annual estimate of $98,951, which is somewhat lower than the salary in question.
However, the typical income of a data scientist varies according to their degree of expertise. According to PayScale, you can anticipate an average income of $87,000 if you are a data scientist seeking your first job. The typical salary for data scientists with 5–9 years of experience is roughly $113,000 per year, while those with 1-4 years of experience may anticipate a total remuneration of $98,000. Nevertheless, as you gain experience, your salary will only go up. As an example, data scientists with over 20 years of expertise may earn an average of $136,000 annually.
Role-Based Data Scientists’ Salaries
Data scientists, data analysts, data engineers, and machine learning engineers are all part of the data profession umbrella. Each of these occupations has its own unique set of duties, required skills, and, ultimately, salaries. The average salary and range of salary of data science professionals, as reported by Glassdoor, are shown below in descending order of salary:
Data Scientist
A data scientist is someone who studies data, finds useful insights within it, and then publishes those findings. Data scientists do this by analyzing large amounts of data, performing complicated computations, visualizing that data for action, and obtaining outcomes using computers and programming languages. Has the career of a data scientist caught your eye? The United States Data Scientist Institute (USDSI®) offers the Certified Lead Data Scientist (CLDS™) program to become a successful data analyst. And if you have the knack of acing the field, USDSI’s Certified Senior Data Scientist (CSDS™) is undoubtedly the best data science certification.
- Average Salary: $127,000
- Salary Range: $79,000 to $207,000
Data Analyst
A company already possesses data, which they are in charge of processing. Building reports and dashboards from databases is something they do on a daily basis. Check out the Certified Data Science Professional (CDSP™) program by USDSI® if you’re considering a career as a data analyst.
- Average Salary: $70,000
- Salary Range: $46,000 to $110,000
Data Engineer
An organization’s data gathering, storage, transformation, and administration processes are built upon the work of data engineers. This is a highly sought-after job in the data science field.
- Average Salary: $117,000
- Salary Range: $76,000 to $184,000.
Machine Learning Engineer
Expert programmers known as “machine learning engineers” study, design, and create algorithms that can learn and make predictions by analyzing massive amounts of data. You won’t find a more challenging or lucrative data science job than this one.
- Average Salary: $133,000
- Salary Range: $85,000 to $213,000
In Summary
Through the combination of domain expertise, coding skills, mathematics, and statistics, data science aims to extract actionable findings that will advance strategic planning and decision-making. Data science continues to generate new possibilities in the field while at the same time experiencing exponential growth.
Many people are pursuing data science certification for a variety of reasons, including the opportunity to gain valuable information and advance in their careers. These certifications enable candidates to register and get the required knowledge and skills needed to deliver great work for the company with ease. In the long term, applicants profit greatly from the certification.
Therefore, why hesitate any longer? Become one of the leading data scientists and get enrolled in one of the leading data science certifications.
