Data Scientist Salary in India 2024

Data science is a rapidly growing field in India, with a projected 28% increase in demand for data scientists by 2026. This uptick in demand is understandable, considering the crucial part data scientists perform in pulling out key learnings from the constantly increasing amounts of data produced by businesses and groups.

With an average salary of ₹10.5 lakhs per year, according to Glassdoor, a career in data science can be financially rewarding. However, these earnings can greatly differ based on numerous factors, such as work experience, geographical location, skill set, and the size of the company. Understanding these trends is crucial for both aspiring and experienced data scientists to negotiate competitive salaries and make informed career decisions.

Interested in leveraging data to drive innovation and success? Explore Scaler’s Data Science course and equip yourself with the skills that top employers are seeking!

Who is a Data Scientist?

Data scientists are analytical experts who uncover hidden patterns, trends, and insights from raw data. They are problem solvers, using their skills in statistics, programming, and machine learning to answer complex questions and predict future outcomes. Their tasks involve gathering and refining data, studying it to spot connections, constructing models for predictions, and clearly and effectively sharing their discoveries with stakeholders.

The career trajectory of a data scientist can be varied, beginning as a data analyst and advancing to higher roles like a senior data scientist, potentially honing skills in niche areas like machine learning or data engineering. The ultimate goal is to leverage data to drive informed decision-making, improve business processes, and foster innovation across various industries.

Highest and Lowest Data Scientist Salary in India

Data science is a rewarding field, both intellectually and financially. However, salaries can vary significantly based on several factors, including experience level, skill set, location, and company size. Let’s explore the range of salaries you can expect as a data scientist in India in 2024:

Entry-Level Data Scientist

• Average Base Salary: ₹6,00,000 per year
• Salary Range: ₹4,00,000 – ₹10,00,000 per year

As a fresher or entry-level data scientist, your salary will depend on your educational qualifications, internship experience, and skills in programming languages like Python or R, as well as your knowledge of statistics and machine learning.

Mid-Level Data Scientist

• Average Base Salary: ₹12,00,000 per year
• Salary Range: ₹8,00,000 – ₹20,00,000 per year

With a few years of experience under your belt, you can expect a significant jump in your earning potential. Mid-level data scientists usually have a confirmed history of successful project delivery and command a wider array of abilities, including managing data, constructing models, and presenting data visually.

Senior Data Scientist

• Average Base Salary: ₹20,00,000 per year
• Salary Range: ₹15,00,000 – ₹30,00,000+ per year

Senior data scientists are seasoned professionals with extensive experience in the field. They frequently oversee teams, oversee challenging projects, and possess in-depth knowledge of specialized fields like big data, deep learning, and machine learning. Their salaries reflect their expertise and leadership capabilities.

Highest Paying Companies (as per Glassdoor)

To draw and keep the best data science talent, these organizations are renowned for providing competitive pay and extensive benefits packages.

It is crucial to remember that these are merely average pay ranges; your actual pay may differ depending on a number of variables, such as your company, location, negotiating skills, and particular skills. However, this overview provides a general idea of the earning potential in the data science field in India.

Factors That Decide Data Scientist Salaries

Data science is a rewarding field, both intellectually and financially. However, salaries can vary significantly based on several key factors. Grasping these factors will equip you to make knowledgeable career choices and bargain for a competitive pay package.

1. Skills and Expertise

The skills you bring to the table directly impact your earning potential. Data scientists with expertise in high-demand areas like machine learning, deep learning, artificial intelligence (AI), and big data technologies can command significantly higher salaries than those with more basic skills. Additionally, proficiency in programming languages like Python and R, as well as experience with popular data science libraries and frameworks, can further boost your earning potential.

2. Level of Experience

As with most professions, experience plays a crucial role in determining your salary. Entry-level data scientists typically earn lower salaries compared to their mid-level and senior counterparts. As you gather experience, develop a robust portfolio, and prove your capacity to yield results, you will see a substantial rise in your earning potential. 

3. Educational Background

Your educational qualifications also influence your starting salary and career progression. While a bachelor’s degree in a relevant field like computer science, statistics, or mathematics is often the minimum requirement, a master’s degree or a specialized certification in data science can give you a competitive edge and open doors to higher-paying roles.

4. Work Location

The city you choose to work in can significantly impact your salary. Metropolitan cities like Bengaluru, Mumbai, and Delhi, which are home to major tech hubs and large corporations, typically offer higher salaries than smaller cities. This is because of things like rising living expenses and a rise in the need for data scientists.

Data Scientist Salary in India: City-Wise

Your potential income as an Indian data scientist can be greatly impacted by the place you work. Here’s a city-wise breakdown of average salaries, based on data from Glassdoor and other sources:

1. Bangalore (Bengaluru): Known as the Silicon Valley of India, Bangalore boasts the highest average salary for data scientists, ranging from ₹6.5 lakhs to ₹20 lakhs per year. The higher pay scale is partly explained by the city’s thriving tech ecosystem and large number of multinational corporations.
2. Hyderabad: A rising tech hub, Hyderabad offers competitive salaries for data scientists, typically ranging from ₹5 lakhs to ₹18 lakhs annually. Data science talent is in high demand due to the city’s expanding IT sector and the presence of major companies such as Microsoft and Amazon.
3. Pune: With a burgeoning IT industry and several research institutions, Pune offers attractive salaries for data scientists, ranging from ₹4.5 lakhs to ₹17 lakhs per year. The city’s lower cost of living compared to Bangalore and Mumbai also adds to its appeal.
4. Mumbai: As a financial and commercial hub, Mumbai is home to many industries that utilize data science, including finance, banking, and e-commerce. Mumbai’s data scientists can expect to make between ₹5 lakhs and ₹19 lakhs annually; those with more specialized training and experience will likely make more money.
5. Chennai: Chennai’s thriving IT sector and the presence of major companies like TCS and Cognizant contribute to a growing demand for data scientists. Salaries in Chennai typically range from ₹4 lakhs to ₹15 lakhs per year, with opportunities for growth and specialization.
6. Delhi NCR: The Delhi National Capital Region, encompassing Delhi, Gurgaon, and Noida, is a major center for IT and software development. Data scientist salaries in Delhi NCR typically range from ₹5 lakhs to ₹16 lakhs per year, with variations based on experience and skillset.
7. Other Notable Cities (e.g., Coimbatore): Emerging tech hubs like Coimbatore are also seeing a rise in data science jobs, with competitive salaries ranging from ₹4 lakhs to ₹12 lakhs per year.

Remember, choosing the right location can significantly impact your earning potential as a data scientist in India. When making your choice, take into account not just the pay but also the cost of living, available career opportunities, and general quality of life.

Data Scientist Salary in India: Industry-Wise

The sector you decide to work in will have a big influence on how much money you can make in India as a data scientist. Here’s a breakdown of average salaries across various sectors, along with specific examples to illustrate the range:

1. Healthcare and Pharmaceuticals

A data revolution is happening in the healthcare sector. Data scientists are analyzing patient records, genetic information, and clinical trial data to improve diagnostics, personalize treatment plans, and accelerate drug discovery.

• Example 1: A data scientist at a pharmaceutical company analyzes clinical trial data to identify patterns and improve drug efficacy.
  • Salary range: ₹8 lakhs – ₹25 lakhs per year
• Example 2: A data scientist at a hospital developing predictive models to identify patients at high risk of readmission.
  • Salary range: ₹10 lakhs – ₹30 lakhs per year

2. Finance

Financial institutions are using data science to get ahead in the market.Data scientists are developing algorithms for fraud detection, risk assessment, algorithmic trading, and customer behavior analysis.

• Example 1: A data scientist at an investment bank builds algorithms for high-frequency trading.
  • Salary range: ₹12 lakhs – ₹35 lakhs per year
• Example 2: A data scientist at an insurance company developing risk models to assess creditworthiness and prevent fraud.
  • Salary range: ₹10 lakhs – ₹28 lakhs per year

3. Retail

In the retail sector, data science is used to understand customer behaviour, optimize inventory management, and personalize the shopping experience.

• Example 1: A data scientist at an e-commerce company builds a recommendation engine to personalize product suggestions for customers.
  • Salary range: ₹7 lakhs – ₹20 lakhs per year
• Example 2: A data scientist at a brick-and-mortar retailer analyzes sales data to optimize inventory management and pricing strategies.
  • Salary range: ₹6 lakhs – ₹18 lakhs per year

4. Digital Marketing

Data science plays a pivotal role in digital marketing, enabling personalized campaigns, targeted advertising, and data-driven decision-making.

• Example 1: A data scientist at a digital marketing agency analyzes campaign data to measure ROI and optimize ad targeting.
  • Salary range: ₹6 lakhs – ₹15 lakhs per year
• Example 2: A data scientist at a social media company developing algorithms to personalize content recommendations and news feeds.
  • Salary range: ₹8 lakhs – ₹20 lakhs per year

5. Professional Services

Consulting firms and professional services organizations utilize data science to provide valuable insights and solutions to clients across various industries.

• Example 1: A data scientist at a consulting firm working on a project to develop a customer segmentation model for a retail client.
  • Salary range: ₹8 lakhs – ₹22 lakhs per year
• Example 2: A data scientist at a market research firm analyzes survey data to identify consumer trends and preferences.
  • Salary range: ₹6 lakhs – ₹18 lakhs per year

6. Information Technology

The IT industry is a major employer of data scientists who work on diverse projects, from developing cutting-edge machine learning algorithms to building data-driven applications.

• Example 1: A data scientist at a software company develops machine learning algorithms for image recognition and natural language processing.
  • Salary range: ₹8 lakhs – ₹25 lakhs per year
• Example 2: A data scientist at a tech startup building a data pipeline to collect and process real-time data from IoT devices.
  • Salary range: ₹6 lakhs – ₹18 lakhs per year

This more thorough analysis offers a more comprehensive understanding of the various roles and responsibilities that data scientists hold in various industries, as well as a clearer picture of the effects that their work has on the industry.

Ready to advance your career in data science? Explore Scaler’s Data Science course and gain the skills needed to excel in diverse industries like finance, retail, digital marketing, and more!

Data Scientist Salary Based on Job Role

While the title “data scientist” encompasses a variety of responsibilities, specific job roles within the field often command varying salaries. Let us examine a few popular data science jobs and their usual salaries, per Glassdoor:

How to Improve Data Scientist Salary?

While data science offers a lucrative career path, your earning potential isn’t static. By actively working to improve your skills, credentials, and negotiation strategies, you can open doors to higher salaries and meet your financial objectives. Here’s your roadmap to a higher-paying data science career:

 1. Develop In-Demand Skills

The tech industry and the skills that employers are looking for are always changing. To stay ahead of the curve, invest in learning in-demand skills like:

• Machine Learning and Deep Learning: Master advanced algorithms like neural networks and deep learning architectures.
• Big Data Technologies: Gain expertise in tools like Hadoop and Spark to handle and process massive datasets.
• Cloud Computing: Familiarize yourself with cloud platforms like AWS, Azure, and GCP to build and deploy scalable data science solutions.
• Domain Expertise: Develop a deep understanding of the industry or domain you’re working in to provide more valuable insights and solutions.

2. Gain Certifications

A certification verifies your abilities and experience and tells potential employers you are capable of handling challenges in the real world. Consider pursuing certifications like:

• Microsoft Certified: Azure Data Scientist Associate
• Google Professional Data Engineer Certification
• Cloudera Certified Professional: Data Scientist

3. Pursue Advanced Degrees

A master’s degree in data science, computer science, or a related field can significantly boost your earning potential. These programs offer in-depth knowledge of advanced topics and research opportunities that can set you apart from other candidates.

4. Effective Salary Negotiation

Negotiating your salary can be intimidating, but it’s a crucial skill for ensuring you’re fairly compensated for your expertise. Research industry salary trends, be confident in your value proposition, and don’t hesitate to ask for what you deserve. Prepare for negotiations by highlighting your accomplishments, quantifying your impact, and showcasing your unique skillset.

5. Upskill Yourself with Scaler

Scaler’s Data Science Course can help you increase your data science salary in a number of ways.

1. First, the course provides you with the skills and knowledge that are in high demand in the data science job market. The course covers a wide range of topics, including machine learning, deep learning, big data, and data visualization.
2. Second, professionals in the field who have practical data science experience teach the course.  This means that you will learn from people who know what it takes to be successful in the field.
3. Third, the course provides you with opportunities to gain practical experience through projects and case studies. This will help you develop the skills that you need to be successful in a data science role.
4. Finally, the course offers career counseling and job placement assistance. This will help you find a job that is a good fit for your skills and interests.

Apart from the aforementioned advantages, Scaler’s Data Science Course provides several special features that can help you get paid more for data science work. For example, the course offers:

• 1:1 mentorship: Throughout the program, you will be paired with a committed mentor who will offer you one-on-one advice and assistance.
• Excellent teachers: The course is taught by professionals in the field who have created real-world products and have a wealth of data science and machine learning experience.
• 50+ hands-on projects and real-world case studies: Working on actual projects and case studies will give you practical experience.
• Career counseling: You will receive personalized career counseling to help you navigate your path in data science.
• Tools and languages used in data science and machine learning: You will learn the tools and languages that are essential for data science and machine learning.

If you are looking for a data science course that can help you increase your salary, Scaler’s Data Science Course is a great option.

Future Salary Trends for Data Scientists in India

With a predicted 28% increase in demand by 2026, data scientists in India have a bright future. As businesses increasingly rely on data-driven decisions, salaries for skilled data professionals are expected to rise. Early-career professionals can anticipate competitive starting salaries, while experienced data scientists with specialized skills will command top dollar.

Projected Salary Growth

The Analytics India Magazine Salary Study 2024 highlights the median salary for data & analytics Professionals in India at ₹15.1 LPA (lakhs per annum). Although this median salary offers a useful starting point, it is crucial to remember that salaries can differ based on a number of different factors.

• Specialized Skills: The study reveals that specialized skills in areas like machine learning and AI can command higher salaries, potentially reaching or exceeding ₹20–30 LPA for experienced professionals.
• Experience: Increasing experience and specialized skills is essential to raising earning potential, as evidenced by the declining median salary for professionals with three to six years of experience or for recent graduates.
• Emerging Opportunities: The field of data science is seeing the emergence of new roles and specializations that offer opportunities for professional advancement and higher pay. These roles include AI/ML specialists, data architects, and data product managers.
  

Impact of Digital Transformation

Data scientists have a plethora of career options due to the ongoing digital transformation occurring across various industries, which is speeding up the adoption of data-driven solutions. This data-centric culture shift, combined with rapid technological advancements, is boosting the value of data science skills and expertise.

Influence of Remote Work and Global Opportunities

With so many businesses now hiring remotely, remote work is giving Indian data scientists access to new global opportunities. This can lead to higher salaries, as companies may offer compensation closer to international standards. Additionally, the global shortage of data science talent further fuels the demand for skilled professionals from India.

Conclusion

In India, the field of data science is flourishing, and there is a rising need for qualified experts with compensation that match this demand. While earning potential varies based on experience, skills, and location, the outlook for data scientists in India is undeniably bright.

A rewarding career path with a variety of opportunities for specialization and growth is provided by data science, which is ideal for those who are passionate about data and want to make a real-world impact. By investing in your skills and staying ahead of industry trends, you can unlock a future filled with both financial success and fulfilling work.

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