Data Scientists Salary Trends

Data Scientists Salary Trends; 2020 Edition

Anyone who is interested in pursuing a career in the field of data science, needs to be clear on things first. You might be a fresh graduate having successfully acquired a Data Science certification to supplement your current skills, or you might be one of those adventurous spirits who wants to take on a challenge and switch your career into the ever-evolving field of Data science. Whatever the case, there are good chances for you to fit right in and be on track to becoming more successful than you were before starting out on this career path. The current economy is one that has ever growing opportunities for data scientists, especially in the US.

Before we get into the data science salary trends, let us talk briefly about what is data science and more importantly what does a data scientist do?

Data scientist—A remarkable career?

From Data you derive information, and from information you derive knowledge. And as the old saying goes, knowledge is power.  

The quote above, tells you everything about why Data Scientists are highly coveted individuals.  

Data science is a branch of information technology that involves the use of specialized processes and algorithms to extract information from data. Meaningful insights hidden in raw data can be brought to light by using advanced systems and techniques. Data scientists are responsible for applying the best practices and using their skills to find insights from data, and then suggest the way forward.

Country wise scope of data science

The US has since decades been a trail blazer when it comes to research. Data Science is also a field, in which the US is making tremendous progress. Currently in the US, Data Scientists are high in demand, and enjoy a pay scale much higher than their counterparts in other countries. According to a survey, Data Scientists can start out earning as much as USD 64,000$ to 144,000$ per annum. For senior or executive level roles the average salary goes as high as USD 136,000$.  

Currently, 20,000+ roles for Data Scientists open every year.  

State Wise Data Science Scope

Data science is registered to be one of the highly entertained and cherished jobs around USA. To further provide the evidence, let’s walk you through the state wise scope of data science jobs and salaries within USA. Washington is the highest paying state in terms of average median wage for a data scientist reaching around $138,000 per annum. Then come New Mexico, New Hampshire and Minnesota, all with an average mean wage around $130,000 per annum. The number of jobs in the aforesaid states reach no more than 1500, with the latter three offering lower than 1000 jobs. California, on the other hand, is registered to provide around 7300 jobs that are either renewed or made available on a yearly basis, and offers a staggering $128,000 of average mean wage. While Idaho pays higher than California, the number of jobs there is as low as 150.

After California we have Virginia, New Jersey, District of Columbia and New York, all offering average mean wage of around $125,000. The least paying state in terms of average annual salary, and the least number of data science jobs is West Virginia, having only around 50 jobs made available every year. The minimum number of jobs were mentioned to be within Arkansas, around 40 only.  

Ohio, South Carolina, Texas, and Utah seemed to be doing just fine with handing out around $90000-120000 per annum. Number of jobs that are available for these states keeps on fluctuating as most of the work related to data science is being outsourced to Asian or other low paying countries. Another factor of fluctuating numbers of jobs in some states is having all the tech giants and conglomerates within California, deeply affecting the chances of other states for paying more or producing more jobs in data science. 

State-Wise Data for Median Salary and Number of Jobs

Data Science Salary Trends By City

For professionals that are trying to get some highly paid jobs within the sector, we can provide you trends based at city level, such as data on number of employments being produced every year and annual wages being paid to the professionals. San Jose scores the best on the radar as it single handedly produces 1360 jobs and paying $160000 to the professionals on a yearly basis. Right after in line are Seattle, San Francisco, Boulder, Dallas, Albuquerque and Palm Bay with salaries ranging from around $150,000 to around $130,000 per annum. For the number of jobs being offered, San Francisco tops the table with around 2400 jobs, followed by New York, San Jose and Seattle. Rest of the cities in this table offer lower than 1000 jobs every year.

In the salary race, Minneapolis, New York and Provo Orem finish last offering around $131000 to the professionals of data science on a yearly basis. This variance in number of jobs and average salaries in different states and cities can be contributed to a number of factors, including presence of large-scale organizations, realization of importance of data science by small-scale organizations and number of technology-oriented companies among others.

Top 10 Cities where Data Scientists Earn the Highest Annual Median Wages

Future Aspects for Data Science

According to the long-term projections (2016-2026) from the Projections Central, information science jobs are expected to grow in the U.S. from 27900 in 2016 to 33200 in 2026. The projections predict an increase of 2500 openings per year.

Here are some interesting numbers from the state-wise projections.

Top Ten States with the Highest Projected Growth (%) by 2026

Top Ten States with the Highest Project Growth (Number of Jobs) by 2026

The opportunities can be for projects of varying magnitudes, requiring different levels of skillsets, but would undoubtedly be persistent, paced with success for skilled professionals in the field of the data science. Highest projected growth is estimated to prevail within California, Virginia and Washington, with almost of 6000, 3200 and 2800 jobs or projects on a yearly basis.

Bottom-line, if you want to pursue a successful career within the field of information technology that promises stable salary and is easily scalable, data science is the way to go with a brilliant scope for its professionals.

You do not have to have a college degree to become a Data Scientist. You can simply take a 20-24 weeks high impact data science bootcamp offered by QuickStart that can prepare for this career and give you a huge ROI on your investment.