Data Scientist Salary In India 2024: A Complete Analysis

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Data exploration and analysis have become integral for businesses all over the globe. With the rise of big data, all major companies have started heavily relying on data to make crucial decisions. Data science is a field where data collection and science converge with AI. There has been a rise in the demand for qualified data scientists across industries globally. This article will discuss everything you need to know to make a career as a data scientist, and more importantly, data scientist salary & trends. So read on! 

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Who is a Data Scientist?

In simple words, data scientists handle large amounts of data and process them to draw inferences to solve queries or find solutions. With the growing data dependency, you can imagine the importance of data scientists across domains.  

To elaborate, data scientists are professionals who combine principles of mathematics and statistics with programming and trend-spotting analytical abilities to draw meaningful insights from data. Once the inferences are drawn, they also model various plans of action. Data science calls for a mix of computer science, mathematics, and trend analysis. Data scientists are among the most well-compensated professionals.

Data Science jobs have shown approx. 46% growth since 2019. According to experts, India will have over 11 million employment opportunities in Data Science by 2026.

Let's discuss the factors that determine the data scientist salary and various associated benchmarks.

Data Scientist Salary Deciding Factors

The factors that determine how much a data scientist gets paid are as follows:

• Experience (Mid-level data scientists enjoy a higher salary than entry-level data scientists, and so on.)
• Location 
• Company/ Employer/ Industry 
• Profile/ Job Title
• Skill Set: Data scientists with a wider skill set get higher pay packages.

The next sections share details on data scientist salary in India, with reference to the above-mentioned parameters and more. 

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Data Scientist Salary in India Based on Experience

We have classified three slabs based on experience ranging from freshers to senior-level scientist categories. The expected median salary for the categories is as follows:

Data Scientist Salary in India For Freshers

Are you fresh out of college or looking for a job switch as a fresher/ early professional? Want to know the prospects of data scientist salary in India for freshers? First, note that your starting salary might be below the industry average, but don't worry. You will find that entry-level data scientists also enjoy lucrative salary packages. 

In India, the average data scientist salary for freshers (i.e., individuals with less than or equal to one year of experience) is INR 5.8 LPA, excluding bonuses and benefits. It goes without saying that your average base salary will increase with a rise in your experience level and industry knowledge. For example, the average salary for early career data scientists/ junior data scientists in India (with 1-4 years of experience) stands at about INR 8.06 LPA.

Data scientist salary range in India for freshers & early professionals (1-4 years of experience): INR 3 - INR 8 LPA

Mid-Level Data Scientist Salary in India

Professionals with 4-9 years (or 5-9 years, as per some stats) of experience are considered mid-level data scientists. The average compensation for these individuals falls in the INR 12 LPA to INR 14 LPA bracket. According to some sources, experienced professionals with 5-9 years in the field can expect an average salary of INR 13.67 LPA.

It is important to note that with years of industry experience, companies will expect you to have analytical skills, be well-versed in all the latest data science tools, and possess good communication skills. 

Data scientist salary range in India for mid-level professionals (4-9 years of experience): INR 8 - INR 15 LPA

Senior Data Scientist Salary in India

Data science professionals with at least a decade of experience or more, i.e., 10+ years of experience, are considered to be in the senior-level data scientist category. Experienced data scientists can draw an average annual salary of INR 20 LPA.

Naturally, experienced data science professionals in these profiles must possess vast industry knowledge and a wide range of essential/ popular skills and must be at the forefront of emerging industry trends. Some of the most coveted titles in this category are principal data scientist, chief data scientist, lead data scientist, etc.

Data scientist salary range in India for senior professionals (10+ years of experience): INR 15 - INR 25 LPA

In a nutshell, the average data scientist's salary in India as per experience can be summarized as follows:

Data Scientist Salary in India Based on Location

The data science industry is widespread and location is one of the most prominent factors determining the average data scientist salary. A region with higher densities of data scientist requirements will have higher average compensations. For example, In India, Bangalore is widely regarded as the country’s tech and start up capital. Consequently, it offers higher packages to data scientists than most other cities in India.

The table below showcases the average data scientist salary in India as per location:

As is evident, Bangalore and Mumbai have the highest average data science salary, but Pune is fast emerging as the go-to place for data scientists as well.

Data Scientist Salary in India by Company

Almost all companies employ data science experts in some capacity. The importance of the roles and job titles varies from company to company, and so does the pay. It is safe to say that premier organizations pay higher salaries for similar profiles. The average annual salary also varies depending on the company size or the expectation of an experienced employee. 

The table below lists the average data scientist salary in India:

Data Scientist Median Salary in Other Countries

The data science industry offers multiple lucrative career options, with companies transcending geographies looking for talented data science professionals. The pay packages for data scientists vary from country to country. Here is a list of median data scientist salary in other countries:

The countries with the highest average data scientist salary are the United States, followed by Canada, Singapore, Australia, and so on. 

Skills Required for a Data Scientist

Now that we know about the varied possibilities for data scientists in terms of salaries, let’s look at the essential data science skills you need to land a high-paying job in the data science industry. 

• Data modeling, analysis, manipulation, visualization & evaluation
• Applied mathematics and statistics
• Design skills, soft skills, and presentation skills
• Analytical capabilities (augmented analytics) & critical thinking
• Familiarity with machine learning and machine learning/ science algorithms 
• Artificial intelligence
• Knowledge of databases & database management systems
• Cloud architecture
• Deep learning frameworks
• Fundamentals of computer science
• Knowledge of programming languages, programming fundamentals, and some basic programming skills
• Knowledge of MS Excel, Tableau, etc.

These are some of the essential data science skills. However, the exact range of skills for any particular profile will again vary based on company, industry, type of work, and roles/ responsibilities.

Skills for Different Roles

Data scientist is an umbrella term used to encompass a variety of profiles in the data science domain. The profiles vary from company to company, industry to industry, and also based on responsibilities, etc. As is obvious, the salary packages for all these titles are different.

The table below lists the skills required for different job titles in Data Science:

The table lists a few of the most common data science roles, but this is not an exhaustive list. There are many other profiles, which may vary depending on companies, industries, geographies, etc. 

Data Scientist Job Responsibilities

Before we begin discussing the responsibilities, note that, like in the case of skills and data scientist salary, the responsibilities will also vary depending on the job role/ profile and multiple other factors.

The list below compiles the most common data scientist responsibilities/ duties:

• Work closely with the main stakeholders to recognize issues and problems facing the business/ organization and develop a problem statement. 
• Source, compile, and organize data relevant to the problem statement at hand. After that, model, analyze, and evaluate that data to draw actionable insights.
• Use varied data analysis tools, such as machine learning, deep learning, and artificial intelligence, to uncover hidden patterns and trends in the data and develop actionable plans. 
• Another responsibility data scientists might need to fulfill is developing predictive or prescriptive models using machine learning algorithms and programming languages (like Python, R, Scala, etc.).
• Use data visualization to relay positive observations and discoveries made via data analysis to key company stakeholders.
• And last but not least, data science is an extremely dynamic and fast-evolving field. It is important for you to stay updated with the latest trends, research, and developments in related fields such as deep learning, machine learning, analytic techniques, artificial intelligence, natural language processing, etc.

Conclusion

In conclusion, the salary of a data scientist can vary greatly depending on factors such as experience, location, industry, and company size. However, overall, data scientists are highly in demand and command competitive salaries due to their specialized skills in data analysis and interpretation. As the field of data science continues to grow, it is expected that salaries for data scientists will also increase, making it a lucrative career choice for those with a passion for working with data.

Frequently Asked Questions

1. Do you need a degree or special training to become a data scientist?

The data science industry is vast. You must possess knowledge of a wide range of data/ analytical applications and interdisciplinary fundamentals. People with a variety of educational backgrounds can enter the data science industry. So, even though education is important for becoming a data scientist, there is no fixed degree. However, you should work to acquire the desired skills.

2. Which city pays the highest data scientist salary in India? What is the average data scientist salary per month?

Data scientists have competitive salaries in India that vary depending on location. The average data scientist salary in Bangalore is the highest at ₹13 LPA since this city has the highest concentration of tech companies and startups. Following this, the average data scientist salary in Mumbai is ₹11.5 LPA, given that it is among India's most populous metropolitans.

Additionally, the average data scientist salary in Chennai is ₹10.5 LPA, the same as the average salary in Hyderabad. Compiling all of the data, the average data scientist salary per month in India stands at approximately INR 84k/month. 

3. Which companies pay the highest data scientist salary in India?

Going by the averages, Flipkart pays the highest average data scientist salary (₹33 LPA), followed by Walmart Global Tech (₹31.70 LPA) and Google (₹27 LPA). 

4. Can I become a data scientist if I don't have any experience?

Data science is a booming industry with a high demand for skilled professionals. Even those with no experience can become data scientists. Though the entry-level pay for this profile is lower than the industry average, the industry's growth prospects are high, and the average salary increments with experience are quite good. 

5. Is data science a good career choice?

Again, with the rise of big data, almost all decision-making in most companies is backed by data. It is safe to say that a career in the data science industry is an extremely lucrative one with numerous growth opportunities for skilled professionals. 

Note- The figures in the article above have been taken from multiple sources. 

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