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Here is How Much You Can Earn as a Data Scientist in India

Data Science is one of the most popular and trending sectors right now, with freshers joining in from all kinds of technical and educational backgrounds. Being an exponentially growing industry (Compound Annual Growth Rate or CAGR of 30.0% globally), the Data Science market is predicted to become $140.9 billion in value by 2024.

Data analytics, Data architecture and Data engineering are all aspects of Data Science, with each of them being a job role in themselves. The job role of a Data Scientist is the most popular of them all, allowing easier entry for freshers and offering a sound future scope and career prospects. Data Scientists can also shift to other specialised sectors or sub-domains easily.

If you are wondering what a Data Scientist is, it is a job role that is essentially concerned with the extraction, collection, cleaning and modelling of data. They are also responsible for ensuring data accessibility and preparing the data for other processes. For instance, Data Scientists are tasked with data modelling and applying algorithms to enable their organisations to use data effectively.

Data Scientists are armed with the skills to use various tools and techniques to facilitate Data Science pipelines. A Data Science pipeline consists of warehousing the data, cleansing the data, processing the data and  staging the data for further functions. Once data is staged, Data Scientists can go ahead with creating data architectures or use the data for visualisation and reporting. 

Due to value Data Science professionals generate, they are paid handsome remunerations from pretty much the beginning of their careers. Let us find out the Data Scientist salary in India for freshers as well as for experienced professionals. 

Data Scientist Salary in India in 2023

Your salary is only as good as your skillset. Using data science tools and technology, you can make a huge impact on the business as well as earn a high data scientist salary. 

Demand for data scientists in various industries

The need for data scientists is growing as more industries adopt technology and data-driven methods to improve their businesses. Our guides on Differences Between Data Science and Artificial Intelligence, Data Science Projects for Beginners, and Data Science and Machine Learning offer great insights into understanding the data science role in India. They're needed at all field levels, from entry-level to senior positions, and offer a high data scientist salary in India.

Average Salary Range for a Data Scientist 

Data Scientists are in charge of assisting the data discovery process and acquiring or sourcing data for organisations. Data Science professionals also help in processing, cleaning, integrating and storing data.

Mainly, data scientists are tasked with investigating data and conducting exploratory data analysis. They also build data models and suggest algorithms for effectively using the data. Sometimes, Data Scientists are responsible for integrating data with AI systems or for using Machine Learning to make use of the data.

Data Scientists must be able to program in Python, R or Scala. They must also know how to use distributed file systems such as Hadoop, RDBMS such as MySQL, MariaDB, etc. or other NoSQL DBMS systems. Knowing how to conduct data visualization is also essential for Data Scientists.

The average salary of a Data Scientist in India is Rs. 8,60,316 per annum. 

Data Scientists with less than one year of experience and freshers earn an average of Rs. 5,71,493 annually (based on 533 Data Scientist’ salaries) in India. Meanwhile, Data Scientists with 1 to 4 years of experience earn an average of Rs. 8,00,750 per annum (based on 2476 Data Scientist salaries).

Experienced Data Scientists with 5 to 9 years of experience earn Rs. 14,20,229 on average per annum (based on 868 Data Scientists’ salaries). Senior Data Scientists with 10 to 19 years of experience earn Rs. ₹18,40,360 (based on 233 Data Scientists’ salaries) annually on average.

Average Salary Range for a Data Analyst

Data Analysts are responsible for analysing data and then preparing reports for their organisations. Analysts are also tasked with incorporating data collection systems and managing databases. Mostly, analysts use predictive techniques and statistical tools to identify, analyse and interpret patterns or trends in datasets.

Data analysts must know how to use tools such as Microsoft Excel, Tableau and 360-degree office suites such as Microsoft Office. For example, a data analyst can be skilled in the Microsoft ecosystem of Access, Power BI and Azure. It is compulsory for data analysts to know how to generate reports and make presentations.

From huge databases, it is important for organisations to extract the most valuable information. Thus, data analysts must also be skilled in using SQL and in using various Database Management Systems. Data visualisation is also essential for data analysts.

The average salary of a Data Analyst in India is Rs. 4,56,667 per annum. 

Data Analysts with less than one year of experience and freshers earn an average of Rs. 3,55,674 annually (based on 1000 Data Analysts’ salaries). Meanwhile, Data Analysts with 1 to 4 years of experience earn an average of Rs. 4,43,959 per annum (based on 3202 Data Analysts’ salaries).

Experienced Data Analysts with 5 to 9 years of experience earn Rs. 7,04,496 on average per annum (based on 854 Data Analysts’ salaries). Senior Data Analysts with 10 to 19 years of experience earn Rs. ₹9,74,496 (based on 167 Data Analysts’ salaries) annually on average. Senior data analysts with more than 20 years of experience earn an average compensation of Rs. 15,00,000 per annum.

Average Salary Range for a Data Engineer

Data Engineers make data more accessible and useful for organisations. They are in charge of facilitating the data infrastructure of an organisation and enabling systems to make use of this data. This also means that data engineers are responsible for the integration of cloud systems and external applications with data models or systems. 

Professionals in this domain are also tasked with developing algorithms that help make raw data cognisable for enterprises. Data engineers must also find out solutions to important questions related to data and understand the data requirements of an organisation.

To go about their daily tasks, Data Engineers must be experts in programming, data modelling and DSA (Data Structures and Algorithms). These Data Science professionals require a host of IT skills, including cloud computing (Amazon Web Services, Google Cloud Platform or Azure), system design and database management. 

Data Engineers must know how to work with ETL tools Extract, Transfer, Load), Data APIs and various data warehousing solutions. It is essential for Data Engineers to use technologies such as C++, Redshift and Apache Spark as well.

The average salary of a Data Engineer in India is Rs. 8,57,779 per annum. 

Data Engineers with less than one year of experience and freshers earn an average of Rs. 4,79,764 annually (based on 108 Data Engineers’ salaries). Meanwhile, Data Engineers with 1 to 4 years of experience earn an average of Rs. 7,24,831 per annum (based on 1033 Data Engineers’ salaries).

Experienced Data Engineers with 5 to 9 years of experience earn Rs. 13,42,507 on average per annum (based on 550 Data Engineers’ salaries). Senior Data Engineers with 10 to 19 years of experience earn Rs. ₹18,93,468 (based on 163 Data Engineers’ salaries) annually on average.

Average Salary Range for a Data Visualizer

Data Visualizers are skilled Data Science professionals who companies and organisations trust with presenting data in the most effective and understandable way. Data must always be presented in a cognisable format, to enable stakeholders, managers and executives to make informed business decisions. Data-driven actions by companies are always based on the insights gathered from modelled data. 

Data Visualizers and Data modellers identify, interpret and report correlations, anomalies, trends and patterns from vast amounts of data. Thus, it is also essential for Data Visualizers to be comfortable working with big data. Even though their main task is to visualise the data, they must also know how to make data more usable and accessible.

These professionals are masters in managing datasets and databases. They must know how to use visualisation software and provide interactive insights for various segments of audiences throughout the different levels of the organisation. 

The average salary of a Data Visualizer in India is Rs. 610,419 per annum. 

Salary Variations Across Industries

The demand for data scientists is high, but so is the data scientist salary. Data scientist salary vary based on factors like experience level and location. For example, a data scientist who has worked for five years or more will typically earn more than one with less than two years’ experience. Here's a look at the data scientist salary levels across some of the most common industries in the world.

Data science salaries in the IT and technology sector

In India, the average annual data scientist salary in India in IT and technology sector ranges between 4 LPA and 10 LPA, and the highest data science salary in India can be up to 25 LPA. However, the average data scientist salary in India's IT and technology sector is 8–10 LPA. 

Salaries in the finance, healthcare, and e-commerce industries

The finance industry offers the highest annual data scientist salary at a 10–12 LPA average, while e-commerce comes in second with a data scientist salary of 8–10 LPA. In healthcare, data scientist salary falls on average of 13 LPA, but the top data science salary in India can beLPA, to 20 LPA and the higheof a salary of data scientist in India can24–28p to 24-28 LPA. 

Emerging sectors and their impact on data scientist pay

The demand for data scientists is expected to increase in the future as emerging sectors require their services. The following are some of the emerging sectors that will increase demand for data scientists with high data scientist salary in India and all around the world.

  1. Automation
  2. Automobile

Factors Influencing Salaries for Data Science Job Roles

  1. Experience: The amount of experience Data Scientists or Data Science professionals have, determines the salary packages they are offered globally. Here are the average salaries of Data Science professionals in India,based on their experience:
    • Fresher - Rs. 5,71,493 per annum
    • Early-Career Data Scientist - Rs. 8,00,750 per annum
    • Mid-Career Data Scientist - Rs, 14,20,229 per annum

    Late-Career Data Scientist - Rs. 18,40,360 per annum

  2. Location:Data Science professionals in India are compensated differently based on the locations of their posting as well. Here are the various average salaries of Data Scientists in different cities of India:
  3. 3Organization:Various companies pay different compensation packages to their Data Science professionals. Here are the various average salaries of Data Scientists in various MNCs operating in India:
  4. Skills: Data Science professionals are paid higher if they have additional skills. According to Microsoft, Azure is preferred by 95% of Fortune 500 companies. Companies such as Accenture and Cognizant pay great remunerations to their Data Science professionals skilled in Azure. Similarly, skills in AWS, Apache Hadoop, Apache Spark and other tools such as SAS, Microsoft Power BI, Tableau also attract handsome salaries offered by employers.

While a data science certification and experience help one get even better packages, factors such as location and skillset also affect salaries. 

Benefits and Perks Offered to Data Scientists

The benefits and perks offered to data scientists by employers vary widely, but there are some standard benefits that every company provides.

Stock options and equity grants

Equity and stock grants are a form of compensation that allows employees to buy shares in a company and reap the monetary benefits of their efforts.

Remote work opportunities and flexible hours

Flexible hours, remote work opportunities, and a relaxed culture make it easy for data scientists to give their best.

Additional incentives and bonuses

In addition to the average salary of data scientist in India, they’re offered a number of additional incentives and bonuses that can help them earn more money.

Conclusion

In India, the field of Data Science is growing at an exponential rate. The data scientist salary in India keeps on increasing by 10% as it is one of the most sought-after jobs in India. Go ahead and sign up for Data Science & Analytics to get started on making a career in data science in India.

Data Science has an incredible amount of scope, and with the rapid adoption of big data concepts and technologies, more companies are in dire need of skilled Data Science professionals. Some companies directly use massive amounts of data for their daily business operations or to support their services (or applications), while some organisations use data for insights. Businesses from all sectors rely on data to make informed business decisions. Thus, all kinds of companies require Data Science professionals.

There were around 93,500 open Data Science jobs in India in 2020. These numbers have been estimated to have reached 137,870 by early 2021. Similarly, in Data Analytics, there was a 47.1% increase in open jobs from 2020 to 2021. Thus, it is only fair to estimate that the demand for Data Science professionals will keep increasing in the following years.

If you are ready to upskill with a structured data science certification program, check out Hero Vired’s Integrated Program in Data Science, Machine Learning, and Artificial Intelligence. It offers an industry-focused certification and assured placements for anyone who enrols for the full-time program. The program will ensure you are able to become a skilled and industry-ready Data Science professional equipped with the knowledge of smart technologies, Machine Learning, predictive analytics, and Artificial Intelligence.

FAQ's

The average salary of a data scientist in India with 4-year experience is 8 LPA.
It depends on your career goals. CA and data scientists both have important roles in the field of IT, but they have different functions. The best way to determine which role is right for you is to figure out what skills you have and where your interests lie.
The average salary of a data scientist in India can be more than that of an MBA in some industries, but not all.
The technology, finance, and healthcare sectors have opportunities for a high data scientist salary.
The best data scientists are constantly looking for new opportunities for growth and improvement. If you're constantly striving to improve, then no, data science is not a stressful job.

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