Average Entry Level Data Scientist Salary
Introduction
As the world becomes more data-driven, the demand for data scientists has increased. Data science is a field that combines statistics, computer science, and domain expertise to extract insights from data. In this article, we will explore the average entry-level data scientist salary and what factors affect it.
What is an Entry-Level Data Scientist?
An entry-level data scientist is someone who has recently graduated with a degree in a relevant field, such as computer science, statistics, mathematics, or data science. They may also have completed a data science bootcamp or other training program. Entry-level data scientists typically have less than two years of work experience in the field.
Average Entry-Level Data Scientist Salary
The average entry-level data scientist salary in the United States is around $85,000 per year. However, this can vary depending on factors such as location, industry, and company size. In some areas, such as San Francisco and New York City, the average entry-level data scientist salary can be over $100,000 per year.
Factors That Affect Entry-Level Data Scientist Salary
There are several factors that can affect an entry-level data scientist's salary:
- Location: Salaries can vary depending on the cost of living in a particular area. For example, salaries in San Francisco and New York City are generally higher than in other areas.
- Industry: Some industries, such as finance and healthcare, tend to pay higher salaries for data scientists than others.
- Company size: Larger companies tend to pay higher salaries than smaller companies.
- Education and experience: Data scientists with advanced degrees or more experience may command higher salaries.
Data Scientist Salary by Industry
As mentioned above, salaries for data scientists can vary depending on the industry. According to the Bureau of Labor Statistics, the median annual salary for computer and information research scientists, which includes data scientists, was $126,830 in May 2020. The following industries tend to pay higher salaries for data scientists:
- Finance: Investment banks and other financial institutions are willing to pay high salaries for data scientists who can help them make better investment decisions.
- Healthcare: Healthcare companies are using data science to improve patient outcomes and reduce costs, so they are also willing to pay high salaries for data scientists.
- Technology: Technology companies, such as Google and Facebook, are known for paying high salaries to attract top talent.
Data Scientist Salary by Experience
As data scientists gain more experience, their salaries tend to increase. According to Payscale, the average data scientist salary by experience is:
- Less than 1 year: $69,000
- 1-4 years: $89,000
- 5-9 years: $107,000
- 10-19 years: $122,000
- 20 years or more: $129,000
Data Scientist Salary by Location
Location is a major factor that affects data scientist salaries. The following cities tend to have the highest salaries for data scientists:
- San Francisco: The average data scientist salary in San Francisco is $123,000 per year.
- New York City: The average data scientist salary in New York City is $109,000 per year.
- Seattle: The average data scientist salary in Seattle is $103,000 per year.
- Los Angeles: The average data scientist salary in Los Angeles is $102,000 per year.
- Boston: The average data scientist salary in Boston is $100,000 per year.
Conclusion
Data science is a field that is in high demand, and entry-level data scientists can expect to earn a good salary. However, salaries can vary depending on factors such as location, industry, and company size. As data scientists gain more experience, their salaries tend to increase. If you are interested in pursuing a career in data science, it is important to consider these factors when deciding on a job offer.
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