Learn how your location, education, industry, and experience can play a role in how much you can earn as a data scientist.
From customer information to inventory tracking, businesses generate massive amounts of data every day. Rather than leaving this information on the ground, businesses task data scientists with managing and transforming it into actionable insight so they can make better-informed decisions.
In 2022, Glassdoor ranked data scientists as the third-best job in America [1]. If you enjoy analyzing data to identify patterns and solve problems, this career path holds plenty of well-paid opportunities for you.
In this article, you'll learn more what you can expect to earn as a data scientist, including how common factors like experience and location may impact it. Let's dive in.
Data scientist earn a higher-than-average salary. According to the U.S. Bureau of Labor Statistics (BLS), the median salary for data scientists was $103,500 per year as of 2022 [2]. That's more than double the median annual wage for all workers, which the BLS pinned at $46,310 during the same period.
Other salary aggregation sites, however, note different average and median pay for data scientist. At a glance, here's what five different sources say you can expect to earn as a data professional.
US BLS | Glassdoor | Indeed | Zippia | Payscale |
---|---|---|---|---|
$103,500 | $117,664 | $124,758 | $106,104 | $99,344 |
There are numerous factors that can influence how much you can expect to earn as a data scientist. Below, we explore four of these in depth.
Typically, more work experience translates to a higher pay. The more experienced you are as a data scientist, after all, the more valuable you are to an employer – and they're willing to pay for it. Here's what you can expect to earn by experience level as a data scientist, according to Glassdoor [3]:
0-1 years: $96,986
1-3 years: $108,197
4-6 years: $118,101
7-9 years: $124,037
10-14 years: $131,327
15+ years: $140,079
The data science field is well-suited for working from home thanks to its emphasis on independent work and technology. The average salary for a data scientist who works from home is $127,128 per year – but remote positions are often competitive and may generally go to those with the most experience, so take that number with a grain of salt [4]. To help you get a better idea of how your geographic location might impact your salary, here's the average data science pay in 10 different cities across the United States according to Indeed [5]:
City | Average base salary |
---|---|
Los Angeles, CA | $142,826 |
Boston, MA | $129,770 |
Houston, TX | $117,851 |
Chicago, Il | $118,398 |
Washington, DC | $123,311 |
New York, NY | $127,841 |
Philadelphia, PA | $110,645 |
St. Louis, MO | $107,777 |
Columbus, OH | $111,044 |
Minneapolis, MN | $104,707 |
The industry you work in can play a significant role in your annual salary. According to Glassdoor, the top paying industries for Data Scientist are as follows [3]:
Information Technology - $128,037
Retail & Wholesale - $117,664
Real Estate - $115,165
Financial Services - $115,657
Media & Communications - $117,664
Note: Glassdoor data represent base salary excluding bonuses and other forms of additional compensation.
Data science is a fast growing career. According to the US BLS, the number of jobs for data scientists is projected to grow by 35 percent between 2022-2032, resulting in about 17,700 new job openings a year throughout the decade [2].
Data scientist must typically possess at least a bachelor's degree to qualify for the job. In fact, according to Zippia, 51 percent of data scientists have a bachelor’s degree, 34 percent have a master’s degree, and 13 percent have a doctorate (PhD) [6]. Data scientists commonly study mathematics, statistics, business, or engineering.
According to the Burtch Works Salary Report of 2023, data scientist salaries tend to increase with education level.
As mentioned above, data scientist salaries typically increase with your education level. If you don't yet have a degree, consider earning a bachelor's or master's degree in data science or a related field. Some higher-paying senior data scientist roles may require a PhD. If you want to obtain an advanced role, consider earning an advanced degree.
Degrees are just one of many ways to increase your salary. You can also obtain a higher salary by expanding your skill set. The list below outlines a few of the most important technical skills for data scientists to master:
Machine learning/deep learning
Artificial intelligence (AI)
Risk analysis
Cloud tools and data analysis platforms
Software engineering skills/programming languages
Statistical analysis
Data mining and cleaning
Data warehousing and structures
In addition to technical skills and knowledge, it's essential for data scientists to be good communicators. They must be able to report their findings in an easily digestible way so that non-data scientists can understand them. Communication skills are especially important for those pursuing a role in data science management.
It’s really about the necessary skills, and being able to demonstrate that you can do the work. That’s what I achieved by completing this program and earning my credential.
— Emma S., on taking the IBM Data Science Professional Certificate
One way to ensure your most in-demand skills stand out to employers is to earn a Professional Certificate in a relevant area of expertise. Professional Certificates on Coursera's platform are often provided by industry leaders and accredited universities such as IBM, Microsoft, Stanford University, and the University of Colorado Boulder.
Check out this list of online courses that provide you with a data science certificate upon completion:
Data Science Fundamentals with Python and SQL Specialization - IBM
Business Intelligence Foundations with SQL, ETL, and Data Warehousing - IBM
Data Science Foundations: Structures and Algorithms Specialization - University of Colorado Boulder
Read more: How to Create a Striking LinkedIn Profile: Guide + Tips
To elevate your chances of becoming a highly paid data scientist, you should focus on advancing your education and gaining hands-on experience. You can get started today by enrolling online to earn an IBM Data Science Professional Certificate.
Glassdoor. "50 Best Jobs in America for 2022, https://www.glassdoor.com/List/Best-Jobs-in-America-LST_KQ0,20.htm." Accessed September 7, 2023.
US Bureau of Labor Statistics. "Occupational Outlook Handbook: Data Scientists, https://www.bls.gov/ooh/math/data-scientists.htm." Accessed September 7, 2023.
Glassdoor. "Data Scientist Salaries, https://www.glassdoor.com/Salaries/data-scientist-salary-SRCH_KO0,14.htm." Accessed September 7, 2023.
ZipRecruiter. "Remote Data Scientist Salary, https://www.ziprecruiter.com/Salaries/Remote-DATA-Scientist-Salary." Accessed September 7, 2023.
Indeed. "Data Scientist Salary in United States, https://www.indeed.com/career/data-scientist/salaries." Accessed September 7, 2023.
Zippia. "Data Scientist Degrees and Education Requirements, https://www.zippia.com/data-scientist-jobs/education/." Accessed September 7, 2023.
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