Salary Trends in Data Science for Data Scientists in Bangalore

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For companies to succeed in today’s fiercely competitive market, they must be able to properly manage the huge amounts of data generated by the rate at which firms in a variety of industries are converting from traditional to digital business models. In reality, this influx of data has led to the creation of numerous job types categorized by years of expertise in various sectors. Additionally, in this field that is constantly evolving, it has been difficult for business executives and organizations to determine the appropriate salary based on the roles and years of experience.

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In India, the typical annual compensation for data science experts climbed to INR 16.8 lakhs, up 25.4% from the previous year. For companies to succeed in today’s fiercely competitive market, they must be able to properly manage the huge amounts of data generated by the rate at which firms in a variety of industries are converting from traditional to digital business models. In reality, this influx of data has led to the creation of numerous job types categorized by years of expertise in various sectors. Additionally, in this field that is constantly evolving, it has been difficult for business executives and organizations to determine the appropriate salary based on the roles and years of experience.

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Data Science salary trends by experience

All levels of expertise saw a considerable increase in the median pay for Data Science professionals over the previous year.

Professionals with experience between six and ten years experienced the largest wage gain, up 55.5% to INR 20.4 lakhs annually. Professional salaries grew by 52.5% and 49.2% for 10–12 years and 3-6 years, respectively. Professionals with 0–3 years of experience have a lower wage growth of 42.8% than those with 3–12 years of experience. Due to a greater wage base than other categories, the increase for professionals with more than 12 years of experience was the lowest, at 25.2%.

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Data Science salary trends across cities

With a median annual pay of INR 19.1 lakhs, Bangalore emerged as the top location for a data science expert to work, followed by Mumbai at INR 17.5 lakhs.

Bangalore is India’s startup capital and a major center for IT and analytics, paying data science specialists the highest annual compensation at INR 19.1 lakhs. Additionally, this city has the highest median wage for all experience levels. Bangalore’s ascent to the top location for AI and Analytics businesses is partly responsible for the salary increase. Industry statistics claim that in the past year, Bangalore was home to more than 1050 firms, or roughly 47% of all AI and analytics businesses in India. It also has the highest percentage of data science specialists employed (36%), higher than any other city in India.

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Additionally, this city is home to offices for all significant IT and technology companies with operations in India, including Infosys, Wipro, HP, Microsoft, Accenture, Oracle, and others. When taken as a whole, these elements helped Bangalore win the competition.

Data Science salary trends across industries

Professionals in Internet/eCommerce data science earn the highest salaries in the industry, with a median yearly pay of INR 25.8 lakhs. On a year-over-year basis, the median salary has grown by 104.4%.

Data collection in banking and insurance has benefited from customer contacts with sales and service agents, transactions, websites, applications, and many other forms of communication. Data science is therefore essential to utilize the data that is accessible for better consumer insights, strategy, fraud detection, price optimization, and other objectives. As a result, this industry, with a typical annual salary of INR 24.3 lakhs, is ranked second.

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Data Science salary trends of data science roles

In the past year, the median pay for data science specialists increased significantly. The growing need from numerous businesses for data science specialists to help them harness the potential of accessible data is partly responsible for this growth. As a result, the increased need for knowledgeable data science experts significantly contributed to the rise in the median income as a whole.

The significance of simplifying data pipelines for effective analysis or application development has made positions like data architect, big data analyst, and data engineer crucial for enterprises. The median wage for professionals in these positions is expected to increase significantly over the past year.

A Data Architect receives the greatest median pay, which is INR 25.6 lakhs per year, while a Data Analyst receives the lowest, INR 9.6 lakhs per year. The median annual salary for big data analytics specialists increased significantly, by 35.2% year over year, to INR 20.0 lakhs. Similar to this, the median annual salaries of data engineers and AI/ML engineers increased by 13.2% and 21.8%, respectively, to INR 17.8 and 16.9 lakhs.

Data Science salary trends across educational qualifications

According to wage trends by educational level, top-tier MBA graduates earn the highest median salary of INR 31.9 lakhs annually, followed by top-tier engineering undergraduates at INR 27.6 lakhs annually. For MBA and engineering grads, respectively, professionals from a wider range of universities earn INR 21.9 and 19.3 lakhs annually.

The pay difference between MBA postgraduates from elite institutions and those from other MBA colleges is highest in the first three years, at 93.8%. For students with 3-6 years of job experience, this percentage drops to 53.9%, 40.2% for 6–10 years, 44.9% for 10–12 years, and barely 25.2% for 12+ years.

Similar to this, the wage gap between undergraduate engineering students from top-tier universities is greatest (0–3 years) at 75.5%. For the experience brackets of 3-6, 6-10, 10-12, and 12+ years of experience, this drops to 73.8%, 57.6%, 34.4%, and 34.5%, respectively.

Bottom Line

As you can see, data science is a well-paying field even for freshers, when compared with other fields. So, it is quite natural for you to be passionate about making a name for yourself in your data science career. The key is to know the prerequisite skills to get into this field, and choose the right data institute in Bangalore to hone these skills to increase your chances of getting a lucrative job in a good company.