A data scientist is someone who is better at statistics than any software engineer and better at software engineering than any statistician.”
Data scientists — the term coined in 2008 by DJ Patil and Jeff Hammerbacher is a new fab in IT field with the emergence of massive data being processed on daily basis by the likes of Google, Facebook, Amazon, LinkedIn, yahoo to name a few.
A traditional data analyst may look only at data from a single source however a data scientist will most likely explore and examine data from multiple sources.
The data scientist will go through all incoming data with the intent of identifying a previously hidden insight, which in turn can provide a competitive advantage or address a persistent business problem.
The data scientists have overcome the numerous challenges companies were facing where they have a large volume of data at their disposal and sitting in a garbage bin, the job of a data scientist is to restore the recycle bin by extracting meaningful information. The data scientist can predict weather, consumer behavior patterns and even prevent another financial meltdown as we saw one of the greatest recessions in 2008.
The data scientist role as name suggests is for someone who not only has the ability to write piece of code in programming languages like python and R but also have the ability to interpret, manipulate and extract data. The job is not something we use to have in Pharma and Academics where the computer was something alien and the scientist spend hours in laboratory and classrooms or the software engineers who are only good in writing piece of code given as per client requirement.
As said, the merger of the two niche skills has created a new role of a data scientist which is being described as the sexiest jobs of this century. I don’t want to be overenthusiastic with the way the technology is changing every day, but data scientist’s jobs are something that is something that is supposed to stay for long.
Below is the data received from Indeed.com, one of the US top job searching portal about an average salary a data scientist earns in comparison to other IT jobs.
Let’s have a look what this premium job is commanding salary in USA
Below is the average salary of data scientist by top recruiters.
Data Scientist Salary in USA
Job Title Salary
Facebook Data Scientist $133,492
Microsoft Data Scientist $121,222
Airbnb Data Scientist $118,081
Twitter Data Scientist $134,861
As per glass door, the average salary of a data scientist is in the range of $113,436. The Minimum salary for entry level jobs for a data scientist is $76,000 while the maximum touching to $146,000.
As per pay scale, the median salary of a data scientist is $93,146. The salary ranges from $62,833 – $137,870. Earnings for data scientists are mostly affected by the company, followed by geography and tenure.
San Jose Median Pay Total: $121,537 ($25,228 above national average)
Mountain View Median Pay Total: $118,112 ($21,803 above national average)
San Francisco Median Pay Total: $117,047 ($20,738 above national average)
Palo Alto Median Pay Total: $109,250 ($12,941 above national average)
Seattle Median Pay Total: $102,380 ($6,071 above national average)
New York Median Pay Total: $101,593 ($5,284 above national average)
San Diego Median Pay Total: $95,968
Boston Median Pay Total: $92,957($-3,352 below national average)
Los Angeles Median Pay Total: $89,991 ($-6,318 below national average)
Austin Median Pay Total: $88,989 ($-7,320 below national average)
For many IT Data Scientists, more experience generally translates to higher pay.
Entry Level Data Scientist: $85 – $105 per hour or $110K – $150K per year
Majority of data scientists fall into this space. They’re a fit for projects that are well defined and have been tried before at other businesses. They are great in teams where an academic is paired up with an engineer to produce a working prototype under the supervision of someone more senior.
Data Scientist: $115 – $150 per hour or $165K – $200K per year
A data scientist is someone who can take well defined business requirements and turn them into a working prototype on their own. They have the combination engineering and scientific/statistical background to work on their own or in teams.
Senior Data Scientist: $175 – $275 per hour or $225K – $300K per year
A senior data scientist looks at business needs and defines solutions even when the requirements are vague or not well understood. They can build and execute data science experiments. They have leadership experience that allows them to mentor and guide more junior level data scientists. Even in cases where there is little or no precedent for a project, they can build a working prototype.
purchase phentermine from canada Data Scientist salary (Income) in India
In India, the demand of Data scientist is equally good with average salary of Rs 623,742 per year with maximum salary touching the figures of Rs 18 lacs per annum.
As per Pay scale, salary offered in Tier1 cities to Data Scientists is
Pune Median Pay Total: Rs 982,635 (Rs 358,774 above national average)
Mumbai Median Pay Total: Rs 750,000 (Rs 126,138 above national average)
Gurgaon Median Pay Total: Rs 623,742
Bangalore Median Pay Total: Rs 614,369 (Rs -9,492 below national average)
Hyderabad Median Pay Total: Rs 607,675 (Rs -16,187 below national average)
Not to forget the startups both in US and India are shelling out more and more dollars and INR to woo data scientists. With funding in abundance the startups are even offering upto $200,000 and 50 Lacs per annum to data scientists in US and India respectively.
With advent of Dr. D J Patil as the first US Chief data scientist, the day is not far where the companies will start rolling out new position equivalent of CIO, where the Chief data scientist will be at the helm and shaping up the policies of data enrichment. If the media reports are not wrong the figure has already touched 1 crore in India and in Wall Street these Chief data scientist are taking moola close to $500,000.