Data Scientist Salary In India 2024

Data Scientist Salary

In 2023, data science is still a hot career in India, and one big question is how much money data scientists can make. They’re the people who help businesses by analyzing data. So, we’ll talk about how much they get paid in India this year.

We’ll look at things like what affects their pay, where they work, and what’s happening in different industries. If you’re thinking about becoming a data scientist or are already one, this article will help you understand what to expect in terms of salary.

Who is a Data Scientist

Data scientists have a fascinating job. They work with big sets of data, some of it organized, some not. Their job mixes computer science, math, and statistics. They look at the results of their data work and figure out what it means for businesses and other organizations.

They’re like a mix of computer scientists, mathematicians, and trend experts. In India, data scientists get paid well because there’s a lot of demand for their skills. Their job includes making sense of tricky, messy data from things like smart devices, social media, and emails that don’t fit neatly into a database.

Data Scientist Job Roles and Responsibilities

Data scientists collaborate closely with business teams to understand their goals and how data can support them. They develop algorithms and predictive models to extract relevant data and help analyze it. They also share their findings with colleagues.

Python, along with R, is a powerful tool for sorting and working with data. In India, Python data science professionals earn higher salaries compared to software developers and DevOps programmers. This is because data gathering, cleaning, and processing are in high demand as businesses need data for market insights and customer information.

Advantages Of Becoming a Data Scientist

1. Growing Demand

2. High-paying jobs with a wide range of responsibilities

3. Changing working environments

4. Increasing product quality

5. Contributing to the greater good

6. Evolving Field

7. Interesting Job role

8. Extensive job experience

Data Scientist Salary Deciding Factors

Based on Experience

Young IT professionals are often attracted to careers in data science because salaries tend to increase with experience. Let’s explore how data scientist salaries can grow over time. For example, in India, fresh graduates can expect an average starting salary of 511,468 rupees per year in an entry-level data scientist role.

A data scientist in their early career with 1-4 years of experience can earn around Rs.773,442 per year. For those with 5 to 9 years of experience, the expected annual income as a mid-level data scientist in India falls between INR 12 to 14 lakhs. On average, mid-level data scientists earn around Rs1,367,306 per year.

Highly experienced data scientists with decades of expertise or those who have held management positions can anticipate annual salaries ranging from INR 24 lakhs to a substantial crore! Additionally, when data analysts transition or get promoted to higher roles, their income typically increases by 50%.

Based on Location

In India, Mumbai offers the most job opportunities and the highest annual salaries for data scientists, closely followed by Bangalore and New Delhi. However, Bangalore stands out as the startup capital of India, providing abundant job openings in the startup sector. Given that Bangalore is often considered the hub of India’s technology industry, data scientists in this city tend to receive higher compensation compared to other regions.

Mumbai	Rs.788,789 per annum (Approx)
Chennai	Rs.794,403 per annum
Bangalore	Rs.984,488 per annum
Hyderabad	Rs.795,023 per annum
Pune	Rs.725,146 per annum
Kolkata	Rs. 402,978 per annum

Based On Employer

IBM Corp	INR 1,468,040 per annum (Approx)
Accenture	INR 1,986,586 per annum
JP Morgan Chase and Co	INR 997,500 per annum
American Express	INR 1,350,000 per annum
McKinsey and Company	INR 1,080,000 per annum
Wipro Technology	INR 1,750,000 per annum

Based on Skills

To secure a high-paying job in these fields, it’s essential to have more than just a Master’s degree. You should also be proficient in the programming languages and tools commonly used for data management and analysis. This expertise is highly valued and can significantly enhance your career prospects and earning potential. In India, having expertise in R is highly valuable and in demand, followed closely by proficiency in Python.

Professionals skilled in Python can expect an annual salary of approximately 10.2 lakhs INR. When a Data Analyst possesses knowledge in both Big Data and Data Science, their income sees a substantial increase of 26% compared to when they have knowledge in just one of these areas.SAS users typically earn salaries ranging from INR 9.1 to 10.8 lakhs per year, while SPSS professionals receive compensation in the range of INR 7.3 lakhs annually.

In the field of Machine Learning, salaries in India typically start at around 3.5 lakhs INR and can go as high as 16 lakhs INR with experience. Python is a preferred language for machine learning, and Python developers in India receive competitive salaries. For those interested in Artificial Intelligence, even beginners can expect a salary of at least 5-6 lakhs INR in India. Artificial Intelligence knowledge can significantly advance your career in various industries.

Conclusion

In conclusion, the salary of a Data Scientist in India varies based on factors like experience, skills, and industry demand. On average, it is around ₹698,412, with entry-level positions starting at ₹500,000 and early-level roles ranging around ₹610,811.

Gaining experience, acquiring additional skills such as machine learning and programming languages, and staying updated with industry trends can contribute to higher earnings in this dynamic field.

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