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According to variables including region, industry, years of experience, organisation size, and maturity, the compensation of a Master Data Scientist can differ greatly. However, Master Data Scientists typically make more money than entry- or mid-level data scientists.
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What is the Role and Salary of a Master Data Scientist? Master Data Scientist is notably becoming an elite job given how the world has transformed into a data-driven era. It has become a highly-sought after career platform that rewards professionals with attractive remunerations. To become Master Data Scientist is to make excellent money and prospective future. Typically, a data scientist salary package would feature six figures, which is why many enthusiastic professionals are running after this job prospect. In this post, let us explore what the data scientist salary pattern looks like and learn about the role of a data scientist in detail. Overview of the Role of a Data Scientist The role of a data scientist extends from collaborating closely with business leaders and crucial players to leveraging their expertise for achieving the company's objectives. A data scientist's job majorly involves gathering colossal amounts of data, analyzing them, and extracting essential information from the data that will improve the organization's efficiency and productivity. The role of a Data scientist may vary depending on the needs and requirements of the organization. Let us discuss the fundamental roles that data scientists play regardless of the organization they are engaged with. Role of a Data Scientist Gathering data and identifying data sources • Analyzing colossal amounts of data of all forms- structured and unstructured • Developing solutions and strategies for problems emerging in a business • Operate in close collaboration with team members and other leaders to develop a data strategy •
Discovering trends and patterns by combining numerous algorithms and modules Presenting data by applying tools and techniques of data visualization Inspecting and analyzing additional technologies and tools for developing innovative data strategies Developing thorough analytical solutions, from data aggregation to display Assisting data engineering pipelines construction Updating and upskilling on the industry's latest trends, newest tools, and technologies to effect higher performance and efficiency Work in collaboration with project partners and the product team to create original concepts based on data-driven solutions Creating analytical solutions blending numerous tools, machine learning, and applied statistics for businesses Leading assessments and discussions on the feasibility of AI/ML solutions oriented toward business processes and outcomes Design, Implement, and Monitor data pipelines and disseminate knowledge with peers to guarantee effective data use • • • • • • • • • • Data Scientist Salary The paucity of skilled labour in the data science job market makes the data scientist salary structure even higher. There is massive demand across all industries for skilled and well- trained data scientists. The surging demand and the escalating salary pattern are the highest among the Information Technology Enabled Services. While there are numerous determining factors for the data scientist salary, experience is a key factor. A data scientist's salary in the US is an average of USD 117,212, a sper the Glassdoor analysis, while in India the yearly income of a data scientist is an average of INR 11,000,00. Determining Factors for A Data Scientist's Salary Numerous factors go into determining the salary of a data scientist. A data scientist may earn a higher salary abroad in comparison to one's home country or a bigger company may pay a higher package to that of a smaller firm. Location is one factor that plays a vital role in determining the salary pattern as this factor takes into account the average pay-out involved in addition to the kind of customers the companies in the region caters to. So many factors impact the data scientist salary. Some of the most prominent determinants are: • Location • Experience • Skills • Company Data Scientist Salary of Top Companies in India Tata Consultancy Services-₹7,80,000 • IBM-₹12,00,000 • Accenture-₹10,50,190 • Mu Sigma-₹7,25,000 • Infosys- ₹7,95,098 • Cognizant Technology Solutions- ₹8,33,076 • Fractal- ₹17,06,609 • Amazon- ₹15,77,948 • Capgemini- ₹8,34,034 • Tiger Analytics-₹15,25,000 •
Microsoft-₹19,44,192 Jio-₹15,00,000 Wipro- ₹8,50,923 Google- ₹16,34,678 Anheuser-Busch InBev-₹20,41,751 Impact Analytics- ₹7,60,275 Deloitte-₹12,79,175 • • • • • • • Data Scientist Salary of Top Hiring Companies in the US The average Data scientist's salary in the United States annually is USD1,17,529. Let us examine the salary offered by the top hiring companies in the US. • Meta-$2,45,653 • Ascendum Solutions-$1,41,339 • IBM-$1,61,904 • Google-$2,34,027 • Quora, Inc.-$1,82,399 • Amazon-$2,05,416 • Oracle-$2,04,829 • Expedia Group-$1,83,985 • Microsoft-$2,10,678 • Booz Allen Hamilton-$1,30,702 • Walmart- $1,78,887 • Apple:$2,20,730 • Wayfair:$1,59,318 • Intel Corporation-$1,96,736 • Cisco Systems-$2,09,126 • Uber-$1,89,428 • Ford Motor Company-$1,58,643 • ServiceNow-$1,85,125 • Airbnb-$2,14,759 • Capital One-$1,59,726 Career Opportunities for Master Data Scientist The role of a Data scientist is not limited to a data scientist alone. Numerous roles and positions are interspersed within the data industry that any data science professionals who have attained requisite industry skills may explore and fetch a position. Some of the other relevant job roles include: • Data Administrator • Data Architect • Data and Analytics Manager • Data Journalist • Decision Scientist • Statistician We have concisely covered the roles and salary patterns of a data scientist in the post. We hope this information helps you in your career decision. Resource By: https://www.careerera.com/blog/salary-of-a-master-data-scientist
