Data Scientist: what he does and how much he earns.

Today, only lazy people are not talking about Data Scientists. In particular, more and more often we hear (and not without reason) that this is the profession of the future. Equally often we hear about the high salaries in Data Science. Well, let’s see how much specialists with and without experience earn in countries such as the U.S., EU and Russia.  But first – a brief primer.

Data Scientist – who is that?

Data Scientists are experts in the analysis of massive amounts of data. Such experts often have a mathematical mindset, have a mastery of statistical analysis, able to see patterns and find them. The task of Data Scientists – to create models to improve work processes, using data analysis and not only.

As a rule, Data Scientists are engaged in:

collecting large volumes of info, modifying it;

• solving business problems using data analysis;
• working with SAS, R, Python;
• working with statistics;
• analytics, machine learning;
• identifying various patterns, etc.

Skills of Data Scientist

Let’s view the list of Data Scientist skills. Accordingly, a good specialist must be proficient in:

o   statistics, machine learning;

o   programming languages SAS, R or Python;

o   MySQL, Postgres databases;

o   data visualization technologies;

o   Hadoop and MapReduce.

This, of course, is not all, but, however, all of these technologies can be learned, and the salary of a Data Scientist is worth it.

Well, let’s move on to the main goal of this article – salaries in the field of Data Science. Let’s start with the United States.

What is the salary of a specialist with no experience?

As is common in IT and not only in IT, the salary depends on the experience and level of the specialist. Here, too, there are juniors, middles and seniors. Naturally, the salary of a novice data scientist will be the lowest. Accordingly  ZipRecruiter’s ranking, it’s in the $69,000/year or $5,750 per month range. And that’s not bad when you consider that the average salary in the US is about $3,500 a month.

What is the salary for a junior professional?

If you believe the info from the Glassdoor website, a junior Data Scientist makes around $121,000/year or over $10,000 per month. That’s pretty good, to say the least.

How much does a senior data scientist make?

Naturally, much. Of course, there are no requirments and boundaries, but the figures tell us that such a specialist can get about $162,000 a year or $13,500 a month. Yes, there is a lot to strive for…

But, it’s worth saying that to achieve such a salary is not so easy. Not only that, you need to be an expert with a capital letter and to devote quite a lot of time. Consider this fact, because you will have to learn throughout life.

A comparison of salaries in the U.S. and the EU

Well, with the U.S. and everything is clear – this country is well known for its shocking salaries. Let’s take a look at how much Data Scientists are paid in European countries.

Looking at DataCareer statistics, we see that the best EU countries to work in a data analytics role are countries such as:

– Switzerland,

– Germany;

– United Kingdom.

Of course, the salary is less than in the USA, but still, both junior and senior Data Scientists are paid quite well. If we talk about experts with practice, in Switzerland their annual salary exceeds 100 thousand euros/year.

Data Science UA company gives the average salary for a Data Scientist with 1 to 3 years experience in size of $1,500, but 4 to 6 years experience in size of $3,800.