How Much Is a Data Scientist’s Salary?
The average data scientist salary for an individual with 0-1 years of experience is $104,406, according to Glassdoor. The driving factor behind high data science salaries is that organizations are realizing the power of big data and want to use it to drive smart business decisions. And because the supply of data professionals hasn’t yet caught up with demand, starting salaries for these positions remain high ($50,000 to $95,000), especially for those who have an advanced degree in data science or a related field.
How Much Can You Make as a Data Scientist?
It’s no secret that data scientists can bring an immense amount of value to the table. Yet finding one person who can do all the tasks required of a data scientist is challenging, and competition over hiring these professionals is fierce. As a result, employers are willing to pay talented data scientists top salaries.
A data scientist’s salary depends on several factors:
- Job title
- Company size
Data Scientist Salary by Experience
According to O’Reilly’s 2016 Data Science Salary Survey, experience is one of the most important factors in a data scientist’s salary. For every year of experience, data science professionals make an average of $2,000 to $2,500 more.
A 2017 Burtch Works study of data science salaries reported the latest salary trends based on experience:
Entry-level data scientist salary. Despite a recent influx of early-career professionals, the median starting salary for a data scientist remains high at $95,000.
Mid-level data scientist salary. The median salary for a mid-level data scientist is $126,000. If this data scientist is also in a managerial role, the median salary rises to $190,000.
Experienced data scientist salary. The median salary for experienced data science professionals is $157,000—while the median salary for experienced manager-level professionals is considerably higher at $250,000.