How Much Do Data Scientists Earn in India, North America, and Europe?

In India, the average salary of a data scientist is ₹10 Lakh Per Annum. The same for a data scientist working in the USA is $1,17,212 per year. In the United Kingdom, it stands at £46,953.

Data scientists are in high demand, and that’s one reason why they get such a high salary. This is because their work is crucial to any organization generating data, which is almost every company today. With digital transformation, companies are heavily invested in data, and a data scientist is required here to interpret that data and help organizations make better decisions.

The salaries we have listed above are meant to give an idea about the range so that you can go in the interview with a suitable expected salary. As more companies are realizing the true power of data, they will need the assistance of data scientists and professionals in this field to build an agile, resilient, and adaptive business.

In this article, we will discuss data scientist salary in India, North America, and Europe. We will identify the factors that lead to higher salaries and what expectations a company has from its data scientist.

Is it Easy to Become a Data Scientist?

Well the answer depends on what kind of education you get and from where you get it. You must begin by completing a degree in data science or a related field like mathematics or statistics. The degree will help you build the basic skill set but to build job-ready skills you need to join IMS ProSchool’s Data Science program. 

We teach and train the students with market-ready skills giving them the required information. While strengthening the existing knowledge, we help our students get efficient in artificial intelligence and machine learning. Towards the end of the program, the students will also get to work on case studies and projects to authenticate and test their knowledge.

Data Scientist Salary in India, Europe, and North America

Data scientists are in for a surprise when it comes to the salary part. To get higher salaries, they also need the skills and the talent to impress employers. But it all boils down to the experience level, proficiency, and ability to deliver the results the potential employer wants.

Let’s break down the salary aspects of a data scientist, starting with India.

Data Scientist Salary in India

On average, a data scientist can take home ₹10,00,000 per year. In addition to this, they are also eligible to take home an extra ₹2,00,000 per year in additional compensation and bonuses. But the bonus element is not available with every company hiring data scientists.

Going on the lower side, the least take-home salary for a data scientist in India is ₹4,00,000 per year. On the upper side, the most salary they can attract is ₹25,00,000 per year.

• Salary Difference Based on Experience: Experience counts as the primary factor of a higher salary for any job. Where freshers sometimes have to make do with the salary they are offered, more experienced professionals have the liberty to ask for their expected salary.

In India, data scientists can demand a higher salary based on their experience as well.

Professionals with more than 10 years of experience have the authority to demand a much higher salary. A Senior Data Scientist can ask for up to ₹20 Lakhs per year in salary.

Some companies are also ready to pay up to ₹40 Lakhs per year to veteran data scientists. But these higher salary bars also bring that much more responsibility. The professionals of this level are expected to provide excellent guidance, training, and assistance to the company and their junior team members while working as their leaders.

• Salary Difference Based on the Company: Now, where experience matters, the company you are working for also matters to a great extent. Large and multinational companies like Google, Apple, Microsoft, Paypal, IBM, Accenture, Cognizant, Infosys, etc., that have thousands of employees are ready to give higher salaries. This is relative to the salaries given by companies that have a smaller employee strength.

The reason being large companies have the requisite budget to hire employees at higher salaries. Whereas the smaller and medium-scale companies have a limited budget and may have to compromise with the salaries.

A data scientist at TCS with 4 years of experience is getting ₹7.5 Lakhs, and the same at IBM is taking home ₹12.7 Lakhs per year. But when Google hires experienced data scientists, they are willing to pay up to 38.3 Lakhs per year.

• Data Scientist Salary by City: The last differentiation factor we will consider are the cities you choose to work in. Metro cities and cities that have a wide range of national and multinational companies have higher salaries. In India, a data scientist will get a much higher salary in Bangalore than one would get in Jaipur, Indore, or any other city. Cities like Bangalore, Noida, Gurgaon, Mumbai, and Pune have higher salary bars.

Data Scientist Salary in North America

North America is one of the continents and covers a massive area along with a number of countries. We cannot deduce the average data scientist salary in North America, but we can know the salary range and bars in different countries here.

Out of all, two major countries will be considered in our discussion; USA and Canada.

• Data Scientist Salary in the USA: On average, a data scientist in the country makes $1,17,212 per year. The salary can go up to $2,00,000 per year and even as low as $82,000 per year. In addition to this, the data scientists working here can also expect to receive bonuses and incentives of up to $13,989 per year.

But the salary does not plateau at $2,00,000 per year. Some companies are ready to pay a higher amount for the right candidate. And the definition of the right candidate is highly subjective here.

We do have the basic list of responsibilities and job requirements, but companies might look for something more than just theoretical and practical knowledge before hiring employees.

In the USA, the salary of a data scientist can vary according to the experience level and city.

Salary According to Experience

Salary According to City

On average, data scientists in California earn 19% higher salaries than those in other states. And the same is 25% higher than the country’s average salary.

• Data Scientist Salary in Canada: The average salary of a data scientist in Canada is CA$87,248 per year. On the lower end, you can expect to get at least CA$62,000, and on the higher end, you can get CA$1,00,000 per year.

This salary information is extracted from popular job portals, and the exact salary can vary according to the company and area. Having said that, it is essential to walk into the interview room with a set standard in your mind.

Knowing the average salaries in the country, you can better negotiate and get a job on your own terms. Just like everywhere else, experience and job location matter when it comes to knowing the expected salaries.

Data Scientist Salary according to City

In Canada, we can see the same trend as it is with the USA and India. The cities with a higher footprint of global companies, there the average salary is higher than in the rest of the cities in the country.

Data Scientist Salary in Europe

As it is with North America, Europe is also a continent with 44 countries. Now we cannot discuss the data scientist’s salary in each of these countries. That’s why we will be talking about two countries out of Europe, Germany, and the United Kingdom.

Even though the UK is not anymore a part of Europe, we are considering it into our discussion to help you understand the scope of the job and the salary bars in this part of the world.

• Data Scientist Salary in the UK: The United Kingdom is one of the most advanced nations in the world. The country is home to a wide range of companies that feed on data and want smart people to help them understand it closely. On average, data scientists in the UK have an average salary of £46,953 per year.

On the lower end, the salary is £30,000 per year, and on the higher end, it is £73,000 per year. The final salary will differ according to experience, expertise, and the city.

Data Scientist Salary according to City

Data Scientist Salary according to Experience

• Data Scientist Salary in Germany: On average, data scientists take home €62,000 per year. However, a data scientist with less experience may expect a salary of €49,000, and more experienced data scientists can get up to €80,000 per year.

However, the buck does not stop here. Data scientists with a unique set of skills and leadership experience as well can get as high as €119,000 per year.

Data Scientist Salary according to Experience

This sums up the salary details of a data scientist in India, Europe, and North America. We have taken this data from different sources, including Indeed, Glassdoor, and PayScale.

What Does a Data Scientist Do?

A data scientist is expected to understand and translate huge amounts of data into understandable information and insights. Companies today collect data from a wide range of sources. This data is just numbers to the naked eye until a data scientist uses their magic to reveal the information hidden between these numbers.

They are tasked with categorizing the data, finding answers, identifying the trends, and predicting the user’s preferences. All this helps the company design and build the right products.

Data scientists are great at two things;

• Math
• Statistics

 
In addition to being great at these subjects, they are also good at using the tools and software required for data analysis and interpretation.

Plus, advanced technologies like AI, ML, and Big Data are all dependent on data analysis. This makes the job of a data scientist even more important and crucial to building modern-day products and solutions.

To become a data scientist, you first need to get the basics cleared. At IMS ProSchool, you can enroll into the Data Science course, which teaches the theories, techniques, and tools utilized in executing your responsibilities as a data scientist.

From the day you will start working in any company as a data scientist, you will be expected to deliver the following;

• Develop solutions to support and maintain product quality and services.
• Work with databases (most popularly, SQL) to create and edit queries.
• Work with complex methods and techniques to extract insights from raw and uncategorized data.
• Implementing and optimizing existing techniques to build new solutions and services.
• Processing and verifying the data integrity.

 
Data scientists are also expected to have practical knowledge of development and programming languages like Python, Hadoop, and SQL. Besides these, they are supposed to have experience in data mining, data analysis, and data modeling.

Conclusion

A data scientist is quickly becoming an integral part of a company’s growth because of the information they can extract today. These professionals deal with raw data, find actionable insights from the same, and recommend the best solutions for a company to help it build the right products and solutions. Due to their importance for an organization, data scientists in every part of the world are paid high salaries.

They are crucial for an organization living on correct data analysis and interpretation, which is almost every company today. Going ahead, a data scientist role will get even more critical, but their job will also get more challenging. That’s why if you want to become a data scientist, make sure to get the right training from IMS ProSchool and train to become the best in the field.