Data scientists and professionals related to data science jobs have the chance to increase their salaries. Many factors will help to optimize your data scientist’s salary.
1)Industry
The demand for data scientists and professionals with analytical talent is in every industry. Data is generated in all industries by terabytes, and it can benefit the industry by appointing data scientists. There is an increased frequency of data scientists in public and private industries. Every industry has its own advantage and disadvantage, but the salary of data scientists is substantially increasing in the following industries
- Search and social networking
Data scientists are in huge demand in companies whose websites customers visit most of the time. Therefore, Facebook and Google are the companies that pay the top pay to data scientists.
- Banking and insurance sectors
Banks stock market and financial companies are blooming and providing competitive pay to attract the top analytical talent and retain the best talent. Become a Data Scientist with 360DigiTMG Data Science course in Hyderabad. Get trained by the alumni from IIT, IIM, and ISB.
- Manufacturing companies
The manufacturing industry is gradually becoming data-savvy in the past years and more automated. Employers of clothing, food, car manufacturing, and electronics companies employ analytics professionals and data scientists. Check out for Data Science Course in Bangalore
- Software
Software is reshaping the world, so all big and small companies wish to gain a competitive advantage by extracting data for gaining extracts. Software is a highly competitive industry that offers competitive pay to data science candidates. Data scientists get a high salary from well-funded startup software companies. The less-funded software companies are looking to increase their compensation. Although they don’t provide a high base salary, their equity package is well-designed. Are you looking to become a Data Scientist? Go through 360DigiTMG’s PG Diploma in Data Science and Artificial Intelligence!
2)Company size
As per reports of O’Reilly, companies with more than 10000 employees offer the highest salaries to data scientists. The old, well-established company tends to provide data scientists high pay scale than their younger counterparts
3) location
The salary of data scientists depends from country to country. Analytic groups of other countries have low salaries than those who live in California. The salary package of data scientists in San Diego and San Jose are quite similar to California, along with the low cost of living. The salary of data scientists in Seattle is five percent higher than the national average, and the cost of living is comparatively lower than in California states and San Francisco. Want to learn more about data science? Enroll in the Best Data Science courses in Chennai to do so.
4) job role
Data scientists’ salaries will go up with ranks and job titles. The work of data science varies, and not all professionals have the title of data scientist. The average salary of data science managers is around $ 30000 more than an individual contributor. The VP’s and Director’s salary is 120% more than the role of a data scientist. The salary of data scientists, as per reports, is 40% more than a data analyst and 20% more than a data engineer. Earn yourself a promising career in data science by enrolling in the Data Science Classes in Pune offered by 360DigiTMG.
5) data science tools
The salary of data scientists depends on how many technologies and tools they are aware of. Scientists who know more than 15 technologies enjoy a competitive edge for salary. Data scientists and analytics professionals get high salaries and have proficiency in visualization technologies like d3.js. When professionals excel in technologies like spark and Scala, and cloud computing platforms, they enjoy an uptick in salary.
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