Data Scientist Salary: Your 2024 Pay Guide

Written by Coursera Staff • Updated on

Learn how your location, education, industry, and experience can play a role in how much you can earn as a data scientist.

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From customer information to inventory tracking, businesses generate massive amounts of data every day. rather than leaving this information on the ground, though, businesses task data scientists with managing and transforming it into actionable insight, so they can make better-informed decisions.

In 2022, Glassdoor ranked data scientists as the third-best job in America [1]. If you enjoy analyzing data to identify patterns and solve problems, this career path holds plenty of well-paid opportunities for you.

In this article, you'll learn more what you can expect to earn as a data scientist, including how common factors like experience and location may impact it. Let's dive in.

How much do data scientists make?

Data scientist earn a higher-than-average salary. According to the U.S. Bureau of Labor Statistics (BLS), the median salary for data scientists was $103,500 per year as of 2022 [2]. That's more than double the median annual wage for all workers, which the BLS pinned at $46,310 during the same period.

Other salary aggregation sites, however, note different average and median pay for data scientist. At a glance, here's what five different sources say you can expect to earn as a data professional.

US BLSGlassdoorIndeedZippiaPayscale
$103,500$117,664$124,758$106,104$99,344

There are numerous factors that can influence how much you can expect to earn as a data scientist. Below, we explore four of these in depth.

By experience

Typically, more work experience translates to a higher pay. The more experienced you are as a data scientist, after all, the more valuable you are to an employer – and they're willing to pay for it. Here's what you can expect to earn by experience level as a data scientist, according to Glassdoor [3]:

  • 0-1 years: $96,986

  • 1-3 years: $108,197

  • 4-6 years: $118,101

  • 7-9 years: $124,037

  • 10-14 years: $131,327

  • 15+ years: $140,079

By location

The data science field is well-suited for working from home thanks to its emphasis on independent work and technology. The average salary for a data scientist who works from home is $127,128 per year – but remote positions are often competitive and may generally go to those with the most experience, so take that number with a grain of salt [4]. To help you get a better idea of how your geographic location might impact your salary, here's the average data science pay in 10 different cities across the United States according to Indeed [5]:

CityAverage base salary
Los Angeles, CA$142,826
Boston, MA$129,770
Houston, TX$117,851
Chicago, Il$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

By industry

The industry you work in can play a significant role in your annual salary. According to Glassdoor, the top paying industries for Data Scientist are as follows [3]:

  1. Information Technology - $128,037

  2. Retail & Wholesale - $117,664

  3. Real Estate - $115,165

  4. Financial Services - $115,657

  5. Media & Communications - $117,664

Note: Glassdoor data represent base salary excluding bonuses and other forms of additional compensation.

Job outlook for data scientists

Data science is a fast growing career. According to the US BLS, the number of jobs for data scientists is projected to grow by 35 percent between 2022-2032, resulting in about 17,700 new job openings a year throughout the decade [2]. 

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By education

Data scientist must typically possess at least a bachelor's degree to qualify for the job. In fact, according to Zippia, 51 percent of data scientists have a bachelor’s degree, 34 percent have a master’s degree, and 13 percent have a doctorate (PhD) [6]. Data scientists commonly study mathematics, statistics, business, or engineering.

According to the Burtch Works Salary Report of 2023, data scientist salaries tend to increase with education level.

Linked image with text "See how your Coursera Learning can turn into master's degree credit at Illinois Tech"

How to increase your data scientist salary

As mentioned above, data scientist salaries typically increase with your education level. If you don't yet have a degree, consider earning a bachelor's or master's degree in data science or a related field. Some higher-paying senior data scientist roles may require a PhD. If you want to obtain an advanced role, consider earning an advanced degree.

Build new skills as a data scientist

Degrees are just one of many ways to increase your salary. You can also obtain a higher salary by expanding your skill set. The list below outlines a few of the most important technical skills for data scientists to master:

  • Machine learning/deep learning

  • Artificial intelligence (AI)

  • Risk analysis

  • Cloud tools and data analysis platforms

  • Software engineering skills/programming languages

  • Statistical analysis

  • Data mining and cleaning

  • Big data

  • Data warehousing and structures

In addition to technical skills and knowledge, it's essential for data scientists to be good communicators. They must be able to report their findings in an easily digestible way so that non-data scientists can understand them. Communication skills are especially important for those pursuing a role in data science management.

It’s really about the necessary skills, and being able to demonstrate that you can do the work. That’s what I achieved by completing this program and earning my credential.

Emma S., on taking the IBM Data Science Professional Certificate

Enhancing your data scientist resume

One way to ensure your most in-demand skills stand out to employers is to earn a Professional Certificate in a relevant area of expertise. Professional Certificates on Coursera's platform are often provided by industry leaders and accredited universities such as IBM, Microsoft, Stanford University, and the University of Colorado Boulder.

Check out this list of online courses that provide you with a data science certificate upon completion:

Read more: How to Create a Striking LinkedIn Profile: Guide + Tips

Take the next step in data science

To elevate your chances of becoming a highly paid data scientist, you should focus on advancing your education and gaining hands-on experience. You can get started today by enrolling online to earn an IBM Data Science Professional Certificate.

Article sources

1

Glassdoor. "50 Best Jobs in America for 2022, https://www.glassdoor.com/List/Best-Jobs-in-America-LST_KQ0,20.htm." Accessed September 7, 2023.

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