Global focus has shifted to data over the past decade. This has led to increased growth in data science. While the demand for the highly-coveted data scientist job is high, it’s important to remember that salaries for data scientists are dependent on their experience, where they work, and what industry they work in.

This guide to data scientist salaries will explain how industry, experience, and location affect data scientist salaries and make recommendations for increasing your earning potential.

What is the Average Salary of Data Scientists?

According to the Bureau of Labor Statistics, the average annual salary for data scientists was $103,930 in 2020. The starting salary of a data scientist may be less than the average. According to the BLS, data scientists in certain states, such as California and New York, Washington, New Jersey, and Washington, earn median annual salaries of $116,000. According to BLS data, salaries for data scientists are higher than the median annual salary of all occupations (which was $41,950 in May 2020).

O*Net OnLine believes that there is a bright future for data scientists and that data scientists can expect a 15% increase in employment between 2020 and 2030. Tableau states that data skills are essential for all careers and that data jobs are increasing. Companies often seek individuals who are proficient in machine-learning, big and artificial Intelligence. professionals who have more education are generally in greater demand than their entry-level counterparts.

Data scientists also have to consider their education level when deciding how much they earn. Higher salaries may be possible for data scientists with a master’s in data science and a PhD. Earning potential may be increased by obtaining certifications such as AWS or Microsoft Azure.

Top Paying States/Locations for Data Scientists

Salaries for data scientists can vary depending on where they are located and what state they are in. High-paying jobs are available in the coast states of California, Washington, and New York. It is also possible to make a good salary as a data scientist anywhere in the United States. Arizona has an average annual salary of $111,000. Some data scientists can also work remotely depending on their employer. This allows them to be able to live wherever they like while maximizing their earning potential.

Data scientists who work in Washington, New York, and California are among the highest-paid in their field. The BLS didn’t collect median wage data in Nevada, Wyoming, North Dakota, Delaware, Vermont.

Below is a list of five states that have the highest potential to earn data scientists’ salaries in the BLS database as of May 2021.

Data Scientist Salary based on Work Experience

Data science professionals who are looking for the highest-paying jobs in data science can look again to the coast cities. These cities are known as major tech hubs and home to Silicon Valley (San Francisco), and Silicon Alley, (New York). The average annual salary for data scientists in the five highest-paying areas may be more than $120,000. There are also many other opportunities. The average data scientist salary in Boise is $101,360 . Although location is an important factor in determining salary levels, other factors such as education and experience can also impact the salary.

According to the BLS, the following areas are the most desirable for data scientists’ highest salaries as of May 2021.

Some nonmetropolitan areas might offer data scientists competitive salaries if they don’t wish to work in metro areas.

Salary for Data Scientists based on Experience Level

Data science is a field where salary depends on many factors. This includes work experience. Over time, professionals can expect to make more money as they progress from an entry-level salary to a salary for a junior data scientist to a senior salary for data scientists.

A look at occupational data can give you an idea of the differences in salaries among data scientists. The BLS estimates that the lowest 10% of data scientists make around $59,230. The median salary for data scientists was $100,910 in 2021. While the highest 10% earned around $167,000.040 annually. These numbers can be affected by other factors, such as the professional’s work location and their industry.

Salary for Data Scientists by Industry

Data scientists are useful in any industry. Data scientists can earn more depending on the company they work for. Some industries are more lucrative than other. Data scientists working in the field of computer peripheral equipment manufacturing, for example, can expect to earn $148,290 an annual salary. It is important to remember that these differences may be due to the different skills required to perform at different levels within these industries. You can earn a higher income in many industries if you have the right skills.

The following five industries offer the highest salaries to data scientists based on data from the BLS in May 2021:

FAQs about Data Scientist Salary

When you are looking for a new job, there are many factors to consider. These frequently asked questions regarding salary expectations are helpful for professionals looking to become data scientists.

Which cities are most lucrative for data scientists?

The BLS data shows that the five most lucrative metropolitan areas for data scientists in the United States are:

• San Jose-Sunnyvale – Santa Clara, CA
• San Francisco-Oakland-Hayward, CA
• Seattle-Tacoma-Bellevue, WA
• New York-Newark, Jersey City, NY-NJ–PA
• Santa Cruz-Watsonville (CA)

These areas have median annual salaries ranging from $123,600 in Santa Cruz to $157,110 in San Francisco.

How much money do data scientists make?

In most areas of the country, the average salary for data scientists is more than $100,000. According to the BLS, the average annual wage for this job was $108,660 in 2021. Data scientists’ salaries can vary depending on where they work, their industry, and how much experience they have. Data scientists can earn more as they advance in their field.

What is the hourly wage of data scientists?

Data scientists make a median hourly wage of $52.24, according to BLS data for 2021. The average salary of a data scientist may be higher or lower depending on how they are paid. These factors include the type of employer, whereabouts and level of skill.

What is the average salary of entry-level data scientists?

The salary of a data scientist will depend on their work experience. Although an entry-level data scientist might start with a lower salary than someone with more experience, they can earn more as they advance in their career. According to BLS data the lowest 10% of data scientists made around $59,430 per year in 2021, while the highest 10% made around $167,000.

What is the average salary of junior-level data scientists?

Data scientists at junior levels typically earn more than entry-level scientists, but less than their senior-level colleagues. Junior-level data scientists can earn more as they advance in their careers.