Data scientists use their mathematical, statistical and computing skills to help draw useful information to add more meaning to the data. If you aspire to become a data scientist, you should know that this is a well-paying field. However, the skills required are quite a niche, and you have to ensure that you brush up on this knowledge before pursuing a career in data science.
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It would be a good idea to brush up on your Python, R, SQL, Advanced Excel, Power BI, Tableau, statistics, mathematics, machine learning, writing algorithms & coding skills to land yourself a job in this high-paying career. In this article, we will take a look at the average salary of a data scientist in India per month, and the various factors that influence the pay of a data scientist.
Average salary per month for data scientists
To answer this question in short, the monthly pay for data scientists in India can be between Rs.30,000 and Rs.2lac per month, for an experience range of 0 to 8 years. The average pay in this experience level is close to Rs10lac per annum. So, per month, you can expect an average monthly pay of Rs.72,000 to Rs.75,000.
The above-mentioned figures constitute the basic pay only. Apart from this, data scientists also get cash compensation in the form of bonuses and other benefits. This constitutes an average pay of Rs.1,50,000 per annum, which make data science a high-paying job, indeed!
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Salaries of data scientists based on companies
If you are looking to pursue a career in data science in India, these are some of the considerations, regardless of your experience level. As you can see, the average monthly and annual pay for data scientists in these companies is way more than what you can expect in other companies in the same field.
- TCS – Rs.7.7lac per annum (Rs.60,000 per month)
- IBM – Rs.12 lac per annum (Rs.90,000 per month)
- Accenture – Rs.10.5lac per annum (Rs.75,000 per month)
- Infosys – Rs.7.8lac per annum (Rs.60,000 per month)
- Mu Sigma – Rs.7.2lac per annum (Rs.55,000 per month)
- Cognizant – Rs.7.8 lac per annum (Rs.60,000 per month)
- Wipro – Rs.9.9lac per annum (Rs.75,000 per month)
- Capgemini – Rs.9.8lac per annum (Rs.75,000 per month)
- Google – Rs.34lac per annum (Rs.2,50,000 per month)
The average salaries per annum will include other monetary aspects like bonuses and benefits. So, dividing the entire amount by 12 is not the right way to calculate the monthly salary.
Salaries of data scientists based on location
Big cities like Mumbai, Bangalore, Delhi and Chennai have a high cost of living. So, the average data scientist salaries per year are more in these cities than in small cities like Kolkata. The average salaries in some of the popular cities in India can be found here:
- Mumbai – around Rs.7.8lac per annum
- Chennai – around Rs.7.9lac per annum
- Bangalore – around Rs.9.8 lac per annum
- Hyderabad – around Rs.7.9 lac per annum
- Pune – Rs.7.2lac per annum
- Kolkata – Rs,4.0lac per annum
What does a data scientist do?
A data scientist answers most of the questions that the top management may have in mind with respect to important business decisions. You can become a data scientist, if you have exceptional analytical and decision-making skills. You should be exceptionally good in mathematical, statistical and computing skills to become a data scientist.
Are you motivated to pursue a career in data science after reading about the high salaries that are available for taking in this field? Well, you must know that getting such high pay is not a walk in the park definitely. You should develop your skills in math, statistics and computer science if you want to think of a career here.
- Mathematical Concepts – Math is the essence of data. You don’t have to be a math genius or math expert to become a successful data scientist. However, you must know some fundamental math concepts like linear algebra, calculus, geometry, trigonometry and the like. These help you infer data better than before.
- Statistical concepts – Data science is all about analyzing data, predicting outcomes and understanding relationships between the variables. Statistics is the basis for all of these jobs. Statistics is the most used concept in data science. Even if you haven’t studied statistics in your bachelor’s or master’s degree, you should be aware of basic concepts like hypothesis testing, regression analysis, sentiment analysis and probability distribution to be able to master the concepts of data science.
- Computing concepts – Data science is all about programming languages, coding and machine learning algorithms. So, you should know the fundamentals of Python, R, SQL, Tableau, Power BI and Advanced Excel to give yourself a chance in this field. If you have specialized knowledge of any one of these particular skills, you stand a good chance of getting a high-paid job in one of the big data science companies.
Factors affecting the salaries of data scientists
Data scientists are paid differently based on different factors. So, before you think it’s a high-paying job and that you are guaranteed a rosy career path ahead, you have to understand more about these factors.
- How long have you been working in the field of data science?
- What are your specific skill sets with respect to data science and analytics?
- Have you been upskilling yourself on the concepts you already know? For example, are you aware of the updates and latest tools introduced in Python and R programming languages?
- Do you have expertise in any special data science skills like programming, coding, visualization, machine learning and the like?
- Have you completed any certificate or professional course in data science and business intelligence?
Ask yourself these questions before applying for a job in data science in your preferred location. Yes, data science is a high-paying career, but you can get a lucrative job and move forward in life, only if you possess the prerequisite skills for this field. If you are serious about making a name for yourself in this field, we recommend you enroll yourself in a data science course from a reputed institute like 360digiTMG Pune to add value to your resume.
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