data scientist salary in india
Data science is a popular buzzword in today’s world as it uses advanced tools and technologies to generate valuable predictions that can help keep an organization running smoothly. It is a significant and powerful force to be reckoned with when it comes to organizing massive amounts of data and helping businesses make data-driven decisions that can revolutionize multiple industries and propel them forward. to their full technological potential. As is well established, data is essentially the most valuable asset in today’s modern, technology-driven world. It’s even safe to say that data powers everything in the world.
Every second, a huge amount of data is produced around the world, and this data needs to be collected and analyzed. This has led to a high demand for experts who can manage this data and interpret it, helping organizations identify the causes and effects of market trends and enabling them to respond appropriately to ensure customer satisfaction. Data scientists are therefore highly sought after in all industries around the world. So, if you are considering becoming a data scientist, look no further because now is the best time to do it! You can acquire the skills and knowledge you need to progress towards your goal by enrolling in one of the many Data Science Course with Guaranteed Placement available online and in person.
What is Data Science?
Data science is a multidisciplinary field that uses technological breakthroughs such as machine learning and artificial intelligence to extract valuable insights from structured or unstructured raw data using coding, algorithms and quantitative methods. Quantitative methods include statistical and mathematical approaches, as well as data analysis and visualization using programming languages. This valuable information can then be used to assess market trends, improve organizational performance, generate revenue, and reduce expenses, among other things.
Therefore, data science can be defined as a discipline that combines theoretical elements from the fields of statistics, mathematics and computer science, as well as the use of technical tools for the collection, analysis and data extrapolation. As Carly Fiorinaex-CEO of Hewlett Packard, rightly said that “the goal is to turn data into information and information into information”.
Now let’s move on to the most pertinent question:Who is a Data Scientist“And what are they doing?” Simply put, data scientists are data assistants who analyze massive data pools and extract insights from them, which in turn helps organizations and businesses make informed decisions. A data scientist is therefore a highly skilled technical genius who invariably combines the roles of mathematician, statistician, computer expert and business savvy.
Job Prospect of a Data Scientist in India
Since data is the new oil of the 21st century, organizations capable of extracting meaningful insights from it and applying it in the right places can reap significant monetary benefits and grow in terms of business expansion. Therefore, organizations and hiring managers are looking for skilled data scientists who can handle the vast amount of data. Thus, it can be seen that the position of a data scientist in a company is of great importance, and companies are ready to pay high salaries to professionals employed in various places in the field of data science. According to a recent report, the global data science market size is estimated to be USD 4.89 billion in 2021 and is expected to reach USD 25.94 billion by 2026.
India is touted as the “bedrock of the global data analytics market” and is second only to the United States in terms of hiring data analytics or data analytics personnel. data science. Therefore, it is safe to say that the demand for data science professionals will be high in the future given how quickly the world is embracing digital culture and the number of small and large organizations choosing to operate digitally. .
Following the growth of data science as a field, the salary offered in data science and the demand for data experts are equally competitive, whether they are large companies or start-ups. Due to the rapid growth of the data science industry, the pay scale and other incentives offered by a large company, even to a small start-up for a data scientist, are significantly higher due to fierce competition between companies and a shortage of qualified personnel. Therefore, if you have the necessary skills and want to stay informed, your career as a data scientist should flourish.
Data Scientist Salary in India
Data scientists are among the highest paid professionals in the field of data science. According to Glassdoor, the national average salary for a Data Scientist in India is ₹10,25,000 and ranges from ₹4.5 Lakhs to ₹25.2 Lakhs.
The salary of a data scientist varies depending on various factors listed below:
Location plays a central role as it is one of the factors that determine the average payout. For example, the number of job opportunities and the average salary of data scientists in major cities like Mumbai, Delhi, and Bangalore will be higher than in other cities in India. Bangalore being the IT hub of India, the data scientist salary will be higher than in other cities.
According to PayScale, the average data scientist salary in India based on location is as follows:
Mumbai – ₹788,789
Bengaluru – ₹984,488
Kolkata – ₹402,978
Working for a well-known company pays a lot more than working for a small business.
According to Ambition Box, salaries for data scientists are as follows:
Apple Data Scientist Salary – ₹38.3 Lakhs per year
Google Data Scientist Salary – ₹35.4 Lakhs per year
Microsoft Corporation Data Scientist Salary – ₹33.2 Lakhs per year
PayPal Data Scientist Salary – ₹29.8 Lakhs per year
Walmart Data Scientist Salary – ₹28.9 Lakhs per year
Having the desired skill set is equivalent to having a quiver full of arrows that demonstrate one’s ability to handle any type of work situation. It is impossible to compromise on the necessary skills, and every professional must constantly update and improve their knowledge and abilities to meet the requirements of their field. Along with basic skills such as proficiency in Python and R, machine learning, data science, SQL, and artificial intelligence, data scientists must also possess soft skills such as analytical thinking, communication, and industry knowledge.
The most in-demand skills for R professionals are in programming, where the median salary is 14.4 lakhs. The average Python salary in India is 10.2 lakhs Indian Rupees.
While SPSS experts earn INR 7.3 lakhs, SAS users are paid between INR 9.1 and 10.8 lakhs.
Machine learning salaries in India range from around INR 3.5 lakhs to INR 16 lakhs as you progress in the field.
The salary scale increases with experience, as a high level of experience attests to the increase in one’s skills, achievements, knowledge and ability to handle difficult situations.
In India, the national average salary for a Data Scientist intern is ₹14,500 per month for a recent graduate. A newly qualified data scientist with 1-4 years of experience earns an annual salary of 6-8 lakhs. A mid-level data scientist with 5-9 years of experience can expect to earn between ₹12-14 lakhs. A senior data scientist can earn between ₹10 and ₹37 lakhs per year, with an average of ₹20 lakhs.