Data Scientist Salaries

How much do data scientists earn?

Data scientists make a lot of money compared to other jobs. In 2022, the median salary for data scientists in the US was about $103,500 per year. That's more than double the typical salary for all workers, which was around $46,310.

Different websites show slightly different average salaries for data scientists:

• US Bureau of Labor Statistics: $103,500
• Glassdoor: $117,664
• Indeed: $124,758
• Zippia: $106,104
• Payscale: $99,344

How much you make as a data scientist can depend on a few things:

1. Experience: 

The more years you've worked as a data scientist, the more money you can make. For example:

• 0-1 years: Around $96,986
• 1-3 years: Around $108,197
• 4-6 years: Around $118,101
• 7-9 years: Around $124,037
• 10-14 years: Around $131,327
• 15+ years: Around $140,079

2. Location:

Where you work can affect your salary. For instance, in cities like Los Angeles or New York, data scientists tend to earn more than in other places.

• Los Angeles, CA: $142,826
• Boston, MA: $129,770
• Houston, TX: $117,851
• Chicago, II: $118,398
• Washington, DC: $123,311
• New York, NY: $127,841
• Philadelphia, PA: $110,645
• St. Louis, MO: $107,777
• Columbus, OH: $111,044
• Minneapolis, MN: $104,707

3. Industry:

The type of industry you work in matters too. Industries like Information Technology or Financial Services usually pay data scientists more.

• Information Technology: $128,037
• Retail & Wholesale: $117,664
• Real Estate: $115,165
• Financial Services: $115,657
• Media & Communications: $117,664

4. Education: 

Having a higher education level often leads to higher salaries. Many data scientists have at least a bachelor's degree, but some have master's or even doctoral degrees.

The job outlook for data scientists is really good. The number of data scientist jobs is expected to increase by 35% from 2022 to 2032, creating lots of new job opportunities.

If you want to earn more as a data scientist, consider getting a higher degree in data science or a related field. More education can lead to better-paying positions, especially senior roles that might require a master's or even a PhD.