Data Science Professionals’ Salary Guide 2024

FACTSHEET
SALARY
GUIDE 2024
DATA SCIENCE PROFESSIONALS
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The data science industry is incredible and has seen some drastic changes in the last few years. Today, data science
is the core business operation across various industries that helps organizations make data-driven decisions and
take them forward. Therefore, employment in the data science domain is also witnessing some major changes
every year. This industry now offers some of the most popular and lucrative job roles offering highly competitive
salaries.
This excellent resource will help you understand the annual average salary of various data science professionals,
evaluate various factors that determine the salary, and we will share secret tips to help you get higher salaries.
OVERVIEW OF THE
DATA SCIENCE INDUSTRY
Data science refers to the practice of collecting, processing, analyzing, and extracting meaningful and actionable
insights from raw data. Data science roles also extend to presenting complex insights in an easy-to-understand
manner through data visualizations. To be precise, the data science industry is huge encompassing several job
roles responsible for performing various data science tasks.
The data science industry is growing rapidly at a CAGR of 16.2% & is expected to reach a market size of $174
billion in 2025.
DATA SCIENCE PLATFORM MARKET SIZE, 2022 TO 2032 (USD BILLION)
502
$501.03
451.8
$429.70
401.6
351.4
301.2
251
200.8
150.6
100.4
$112.12
$129.72 $150.22 $174.10 $201.96 $234.48 $272.46
$316.87
$368.84
50.2
0
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
Source: precedenceresearch.com
This huge growth in market size also indicates increased hiring of data science professionals which is expected
to grow by 11.5 million data science jobs by 2026 (US Bureau of Labor Statistics).
So, the future of data science is highly promising, and this comprehensive salary guide will help you decide if
this is the right choice for you or not.
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MOST SOUGHT-AFTER
DATA SCIENCE PROFILES
As mentioned earlier, data consists of several important jobs that contribute to
making data science projects successful.
HERE ARE THE MOST SOUGHT-AFTER DATA SCIENCE PROFILES TO AIM FOR:
with annual average salary in 2024 in the US as per Glassdoor
DATA ANALYST
They are the storytellers of data who transform raw data into insights. They
perform statistical analysis, data visualization, and exploratory data analysis to
find patterns, trends, and anomalies to help decision-makers make data-driven
decisions.
Annual Average Salary: $108,415
DATA ENGINEERS
Data engineers are the foundation of data-driven organizations. Their role is
to design and build efficient data infrastructure to collect, process, and store
data.
They create data pipelines, help with database optimization, and ensure data
quality and security. They are the important data science professionals who
develop platforms for data scientists and analysts to work on.
Annual Average Salary: $131,604
DATA SCIENTIST
Data scientist is the most popular role in the data science industry.They are
problem solvers who have expertise in mathematics, computer science, and
business knowledge.
They understand business problems properly and design and develop effective
data science models to solve those problems. They need to work collaboratively
with data engineers and machine learning engineers to bring their models to
life.
Annual Average Salary: $158,580
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MACHINE LEARNING ENGINEER
These professionals act as the bridge between data science and software
engineering. They develop machine learning algorithms, and build, train, and
deploy machine learning models to the production environment. They also
choose the right algorithms and optimize the model's performance.
Annual Average Salary: $165,071
DATA ARCHITECT
Data architects help organizations define appropriate data policies, and
procedures, and design infrastructure to collect, organize, and manage their
data. They are different than data engineers as their focus is on high-level
business intelligence relationships.
Annual Average Salary: $181,880
DATA SCIENCE MANAGER
They are responsible for overseeing the entire data science function of their
organization. They set data science vision, build high-quality data science
teams, and see that the data science function aligns with the organization's
overall business goals.
Data science managers mostly focus on strategic planning, allocating
resources properly, and managing stakeholders.
Annual Average Salary: $185,000 - $311,000
SENIOR DATA SCIENTIST
These experienced data science professionals lead the entire data science
teams and projects of the organization. They offer their experience and
knowledge and help their teams with technical guidance.
They mentor junior team members and develop efficient data strategies. With
their deep business understanding, they can convert complex data insights
into actionable recommendations.
Annual Average Salary: $239,101
03
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DATA SCIENCE PROFESSIONAL'S
SALARY IN THE US IN 2024
DATA SCIENCE ROLE LOW AVERAGE HIGH
DATA ENGINEER
$81,686
$127,028
$197,538
DATA ANALYST
$49,788
$78,433
$123,558
MACHINE LEARNING ENGINEER
$104,031
$161,980
$252,208
DATA SCIENTIST
$77,854
$123,073
$194,555
SENIOR DATA SCIENTIST
$104,667
$149,761
$214,284
DATA SCIENCE MANAGER
$73,321
$131,263
$234,994
Source: Indeed
TOP FACTORS INFLUENCING
DATA SCIENTIST'S SALARY
LOCATION
Developed countries offer comparatively higher salaries than developing countries. Similarly, major tech hubs like
Silicon Valley, New York, London, and locations with higher costs of living also pay higher salaries.
TOP 7
HIGHEST PAYING COUNTRIES
FOR DATA SCIENTISTS
TOP 7
PAYING CITIES FOR
DATA SCIENTISTS IN UNITED STATES
COUNTRY
ANNUAL AVERAGE
SALARY 2024
CITIES
ANNUAL AVERAGE
SALARY 2024
United States
$123,073
Palo Alto, CA
$171,626
United Kingdom
$78,678
Bellevue, WA
$171,112
China
$57,486
Seattle, WA
$141,581
Germany
$82,275
Boston, MA
$129,474
India
$17,000
New York, NY
$128,893
Australia
$88,806
Washington, DC
$121,008
UAE
$70,790
Denver, CO
$117,880
Source: Glassdoor
Source: Indeed
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INDUSTRY
Finance, technology, retail, and healthcare are some of the top industries offering higher salaries to data scientists
as these industries rely more on data-driven decisions.
COMPANY SIZE
Larger organizations have resources and strategies in place to maximize the potential of data scientists and often
pay more than SMEs.
TOP 5 HIGHEST PAYING COMPANIES FOR DATA SCIENTISTS IN THE UNITED STATES
COMPANIES
ANNUAL AVERAGE
SALARY 2024
Apple Google Meta LinkedIn Cisco
$250,437 $249,190 $242,547 $224,292 $223,383
Source: Glassdoor
EDUCATIONAL BACKGROUND
Professionals holding a master's degree or Ph.D. in data science or related field get higher salaries than their
counterparts with only graduate or undergraduate degrees.
EXPERIENCE
The more experience, the higher the salaries. Organizations want skilled data science professionals with proven
track records and are willing to pay higher to candidates with relevant experience.
DATA SCIENTIST SALARY BY YEARS OF EXPERIENCE
$160k
$120k
$80k
$40k
<1 1-3 3-5 5-7 7+
The average salary for a Data Scientist with 7+ years of experience is $158,383.
The average salary for <1 year of experience is $96,888.
Source: builtin.com
05
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HOW DO DATA SCIENTISTS
INCREASE THEIR SALARY?
Here are some secret sauces to help you maximize your salary as a data scientist:
UPDATE
REGULARLY:
The Data Science
domain is highly
dynamic, and you must
be willing to upgrade
your skills regularly to
stay relevant in
the market.
STRONG
PORTFOLIO:
Employers value practical
experience and expertise
in solving real-world
problems. So, build a
strong portfolio
to demonstrate
your skills and
experience
NETWORKING
Network with
other data science
professionals through
LinkedIn, data science
forums, events, etc., to
enhance your chances
of hiring with higher
salaries
CERTIFICATIONS:
Consider registering
for the best data
science certifications
that will help prove
your professional
commitment to
this domain.
CONCLUSION
The data science industry is growing and with the ever-increasing amount of data, organizations are looking for
skilled and experienced data science professionals. They are willing to pay anything to these skilled professionals to
gain data-driven insights and boost their businesses.
As we enter the future, we will see an even greater increase in the amount of money and compensation data science
professionals are offered.
ENHANCE YOUR DATA SCIENCE SKILLS AND CREDIBILITY,
FOR THE HIGHEST-PAYING DATA SCIENCE JOBS.
06
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UPGRADE
TO A
REWARDING
DATA SCIENCE
CAREER
© Copyright 2024. United States Data Science Institute. All Rights Reserved