Data science is the best career choice in terms of remuneration. However, these salary structures vary depending on location, company type, and years of experience. So, before choosing your career, you should consider all the required possibilities. You don’t want to enter a career with impractical expectations and be disappointed.
As per the US Bureau of Labor Statistics, Data Scientists are projected to experience about 17,700 openings every year. The industry is expected around a 35% growth rate. It is much faster than the average growth rate during the forecast period. This is the moment to take a deep dive into the highly rewarding data science career.
This will help you decide whether becoming a data scientist is still worth it in 2024 or not, depending on where you live. You can also check out salaries for data science jobs around the world.
Data Science Salaries by Country
According to the U.S. Bureau of Labor Statistics (BLS), the salary for data scientists was $103,500 per year. That’s more than double the annual wage for all workers, and the US BLS peaked at $46,310 during the same period. Data scientists earn an average of $2,000 to $2,500 extra per year due to experience.
However, salaries in different countries are given in local currency.
- Germany: The average national wage in 2024 is $85,115 per year (additional compensation included) in Germany. The lowest annual pay reported on Glassdoor is $67,505 and the highest is $90,369.
- United Kingdom: As per Glassdoor, The average data scientist’s salary in the UK is $67,254 per year.
- India: According to Indeed, senior data scientists can earn up to 17,30,524 annually. The average pay for a data scientist in India is 12,88,691, even though this number varies by company and job seniority.
- Australia: Australian data scientists receive a pay of $79,218 per year, with a range from $64,591 to $94,251. There are some reports of data scientist salaries in Canberra, and the average salary is $85,671.
- Canada: The average salary of a data scientist in Canada is approximately $103,623 per year, which is 25% higher than the national average. Toronto is the highest-paying city in Canada for data science jobs, with an average base salary of $134,302. In Mississauga, top data science jobs are paid $127,349 annually, and in Vancouver, they are paid $102,198.
Data Science Salaries by Company Size
According to Glassdoor, bigger companies would pay a data scientist more than smaller businesses. Here’s a list of the top 10 highest-paying companies:
- Cruise – $275,421
- Stripe – $264,056
- Cloudflare – $255,840
- Snowflake – $255,149
- Meta – $251,997
- Data Bricks – $251,680
- Google – $251,180
- OpenTable – $247,520
- Roblox – $248,910
- DocuSign – $248,436
Salary by experience
Normally, more work experience translates into higher pay. The more experienced you are as a data scientist, the more valuable you are to an employer – and they are eager to pay for it. Here’s what you can earn with diverse experience levels as a data scientist, according to Glassdoor:
- 0-1years: $96,986 annually
- 1-3 years: $108,197 annually
- 4-6 years: $118,101 annually
- 7-9 years: $124,037 annually
- 10-14 years: $131,327 annually
- 15+ years: $140,079 annually
A study by Forbes powered by Statista states that 71% of predictive analytics experts have a master’s degree and 15% have a PhD. The top three brands of data science courses are:
- Harvard University: Blending explorations of the latest technology and leadership, the courses at Harvard University will help you master your mindset and capabilities. They help you drive your organization toward digital maturity. You will benefit from the latest research into the culture of companies as well as leaders undergoing digital transformation.
The courses are offered in cooperation with the HBS Leadership Initiative. The Harvard University program is eligible for the Digital Transformation Certificate. Diverse courses at Harvard are gaining popularity among aspiring techies who want to focus on Harvard courses to gain lucrative salary packages in the future.
- United States Data Science Institute (USDSI®): Embrace the future of data science with the graded data science programs from the United States Data Science Institute (USDSI®). They help you adapt your leadership approach, behaviors, and capabilities to enable your business to become digitally mature. They are the best international institution providing a career trajectory that’s beyond successful. Whether a beginner, a mid-level professional, or keen on a career switch- USDSI® has a certification for all!
Be an enthusiastic data scientist with one of the most adored data science credentials worldwide from USDSI®. The program of (USDSI®) helps you to lead and build a culture of collaboration and empowerment that links across generations, geographies, and functions.
- Stanford University: The specialist facilities and expert team at Stanford University enable you to teach a wide range of in-demand data science. They provide the knowledge and skills required through hands-on, interactive, and industry-designed teaching.
Conclusion: Pursuing a career as a data scientist can still be worth it in 2024, even if you come from a non-IT background. Data science skills are in high demand. This wraps up the comparison of data science salaries in diverse dimensions. We hope you found it useful!
