One of the biggest drivers of data science as a career in India is its earning ability. In India alone, the average annual pay of a data scientist (analyst) is upwards of INR 8 lakh. This can definitely vary depending upon the location, the type of the job, and the employer.
While you can improve the chances of earning a higher salary by signing up for a data science course, it is a good idea to look at how the remuneration looks like through the cycle of a data science career.
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Hierarchy of Salaries of a Data Scientist
This is a quick look at how your salary will grow as you gain more experience and get trained for a data science career.
- Beginner – An entry-level data scientist from a reputed institution can look at earning upwards of INR 5 lakh a year. This is a better salary compared to those that engineering graduates receive in India. Here, as a beginner, your goal should be to gain more hands-on experience in your specific field to demand a better salary. For example, a data science training course can improve your chances by 2x.
- Analyst With 1-4 Years of Experience – Although there is a possibility that your data science salary can touch the INR 10 lakh mark in this period, it will depend on your projects and overall work experience. This is a good time to shift from your existing employer and look at greener pastures.
- Professional – This is when you achieve more than 10 years of experience. Here you can dictate a salary in the range of INR 15 lakhs to INR 25 lakhs. With several credentials and projects in your name, you can really carve out a prosperous life for yourself and your family. This is also where you can think of spending some time on research.
Just remember that when you start off, make sure you are well trained for a data science career. As a fresher, your academic qualifications will play a vital role during interviews. A data science training course that will help you choose a specialty and make it a focal point is the way to go.
Promotions and Salary Hikes in Data Science
As with every other professional field, a promotion in a data science career is entirely dependent on performance. However, a salary hike of 30% to 50% can be expected. Again, this will be influenced by how well you perform in your role, but given that skilled data scientists are hard to find in India, you can be optimistic.
In any case, if you don’t feel you are professionally growing in your current company, you can always look at upskilling or switching jobs. A data science training course can make you a potential candidate then.
As noted above, getting trained for a data science career can boost your earning and promotion capabilities. While data scientist intrinsically is a well-paying job, a training course in the field will do no harm.