The advantages of Hiring the Best Data Scientist completely depend on leading factors like skillset, location, companies, and experience. A Data Scientist is entrusted with the job of assimilating, segregating, and then studying that data to offer a meaningful solution to a business problem.
There are a lot of different skills, like JAVA, Python Data Science course, SQL, etc., that the person must study to become a Data Scientist. Here in this blog, we have provided the advantages associated with hiring the best data scientist.
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Advantages of Hiring Data Scientist in 2023
Here are some of the leading Advantages of Hiring Data Scientist for a business:
1. Identifying Opportunity: A Data Scientist is one of the profiles that go through the big data and then uses the data assimilated to identify the fundamental changes a business should resort to.
2. High Decision Making: The scientist uses automated tools and mathematical formulas to convert unstructured and raw data into meaningful resources. The final result is helpful to a business organization as it helps them to make good decisions.
3. Use Artificial Intelligence: The Data Scientists use automation and modern technologies like deep learning, artificial intelligence, machine learning, etc., to automate the recruitment process, data research, market research, etc.
4. Reduces Risks: All the results driven by the Data scientist are based on data structuring and segregating that automatically reduces the business failure. The results are helpful in budgeting forecasting which eventually reduces the financial risks.
Popular Data Scientist Job Profile
However, Data Scientist is an umbrella, and many sub-profiles find their place inside this. Go through the section below to get an understanding of the same:
Data Analyst
A Data analyst is one of the prominent roles in Data Science, and it involves visualization, munging, and processing a high amount of data involved in different sectors. The analyst has to extract the data from the sources using tools and maintaining databases. The primary skills required to work as a Data Analyst are SQL, R, SAS, and Python for data science.
Data Engineer
Data Engineer is the second most popular job profile in which a candidate has to collect Data, acquire, and manage big data. They also design and manage databases such that algorithms can run smoothly. The skill set to become a data engineer is Hive, NoSQL, R, Ruby, Java, C++, and Matlab.
Machine Learning Engineer
A Machine learning engineer is involved with designing, developing, and testing machine learning systems. They are also required to develop apps or customized business products. The basic skills that a Machine Learning Engineer should have are Java, Python for Data Science, and JS.
Data Scientist Salary and Future Outlook
The Data Science salary in India completely depends on four factors: location, experience, skills, and top companies. In the section below, we have notified the salary increment a candidate should get after completing the Python for Data Science course.
Data Scientist Salary by Location
Location is a significant factor affecting the Data science salary in India. As per the research, the salary of a Data Scientist in Bangalore is comparatively high as compared to other cities. Here in the section below, we have listed the salary structure for all the candidates who have completed the Python for Data Science:
| Cities | Data science salary structure |
| Bangalore | INR 8 to 9 LPA |
| Mumbai | INR 7 to 8 LPA |
| Chennai | INR 7 to 8 LPA |
| Hyderabad | INR 7 to 7.5 LPA |
| Pune | INR 6.5 to 7 LPA |
| Kolkata | INR 4 to 6 LPA |
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Data Science Salary by Experience
Experience is a major factor affecting the Data Science salary structure. The higher the experience of the candidate, the higher the salary package he is expected to get.
| Years of Experience | Data science salary structure |
| 0 to 1 year | INR 4 to 5 LPA |
| 1 to 4 year | INR 8 to 10 LPA |
| 5 to 9 year | INR 10 to 15 LPA |
| 9 to 12 year | INR 14 to 16 LPA |
| 12 to 18 year | INR 16 to 18 LPA |
| More than 20 years | More than 20 LPA |
Data Science Salary by Skills
The more updated the skill set the more accurate the results. Skill set definitely affects the salary structure for a Data Scientist. Here, in the following table, we have listed the salary structure.
| Skills | Data science salary structure |
| Data Analysis | INR 4 to 5.5 LPA |
| SQL | INR 7 to 8 LPA |
| R with Python | INR 8 to 12 LPA |
| Big Data Science | INR 10 to 15 LPA |
| Python and Machine Learning | INR 16 to 20 LPA |
| Big Data Science and Artificial Intelligence | INR 20 to 25 LPA |
Data Science Salary by Top Companies
| Companies | Data science salary structure |
| Accenture | INR 20 to 25 LPA |
| IBM Corp | INR 12 to 14 LPA |
| JP Morgan Chase and Co | INR 10 to 12 LPA |
| McKinsey and Company | INR 8 to 10 LPA |
| Wipro Technology | INR 15 to 16 LPA |
| American Express | INR 14 to 18 LPA |
the salary of a Python data analyst in India can vary widely based on several factors, including the location, level of experience, education, and the specific industry or company. Keep in mind that these figures are approximate and can change over time. Here’s a rough salary breakdown:
-
Entry-Level Data Analyst (0-2 years of experience):
- Salary Range: ₹3,00,000 – ₹6,00,000 per year (or more)
- Location matters significantly, with major cities like Bengaluru, Mumbai, Delhi, and Hyderabad offering higher salaries compared to smaller towns.
-
Mid-Level Data Analyst (2-5 years of experience):
- Salary Range: ₹6,00,000 – ₹12,00,000 per year (or more)
- Professionals with a few years of experience and a strong skill set can expect higher salaries.
-
Senior Data Analyst (5+ years of experience):
- Salary Range: ₹12,00,000 – ₹20,00,000 per year (or more)
- Senior data analysts with a wealth of experience and expertise in specialized domains can earn substantial salaries.
-
Location Impact:
- Salaries are generally higher in major tech hubs like Bengaluru, Mumbai, and Delhi compared to smaller cities and rural areas.
- For example, a data analyst in Bengaluru might earn more than a data analyst in a smaller city for the same level of experience and qualifications.
-
Industry Impact:
- Data analysts working in industries such as finance, e-commerce, and IT often receive higher salaries compared to other sectors.
-
Skills and Certification:
- Additional skills and certifications in data analysis, machine learning, or big data technologies can lead to higher salaries.
-
Education:
- Having a relevant bachelor’s or master’s degree (e.g., in computer science, statistics, or data science) can positively impact your salary.
-
Company Size:
- Larger companies and multinational corporations may offer higher salaries and more comprehensive benefits packages.
-
Incentives and Bonuses:
- Some companies offer performance-based incentives, annual bonuses, and stock options, which can significantly increase the overall compensation.
Please note that these salary ranges are approximate, and the actual figures can vary widely based on individual circumstances and market conditions. It’s always a good idea to research current job listings and consult with industry professionals in your area to get the most accurate and up-to-date salary information for Python data analysts in India.
Conclusion
Data Science salary in India completely depends on the candidate’s experience and overall skill set. The reason for this is the increased volume of competition prevalent in today’s business world. If you want to learn Python for data science, check out the Data Science course offered by PhysicsWalla Skills page.
FAQs
Q) What is the benefit of hiring a Data Scientist for a business?
Ans: Hiring a data scientist enables a business to make accurate decisions.
Q) What are the popular Data Scientist salaries in India?
Ans: India’s popular data scientist salary ranges between INR 5 to 12 LPA.
Q) What is the future outlook of a Data Scientist?
Ans: The future outlook of a data scientist is very promising and rewarding, as per leading research.
Q) What factors affect the Data Scientist’s salary in India?
Ans: Skill set, experience, and location are the factors that affect the Data Scientist’s salary in India.
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