We’ve said it before and we’ll say it again: Data science is one of the most desirable and high-paying fields in the tech industry today. With a projected employment increase of 30% by 2030, data science beats the average median salary of all occupations in the U.S. – leaving even legal and medical salaries trailing far behind.
With such a boom in the data science industry, you might be considering switching to, or advancing your career in this thriving domain. If that’s the case, we’ve got just the blog for you. Below, you’ll find a list of the most popular data science roles categorized by their average salaries across states.
1. The Data Scientist
The median annual salary for data scientists stood at a robust $100,910 as of May 2021, according to the Bureau of Labor Statistics (BLS). Yet, this figure is but the tip of the iceberg, as the data scientist’s earning potential can soar skyward.
Leading the pack in annual mean salaries for data scientists are Washington, California, Delaware, and New York, as revealed by the BLS report. These states not only offer lucrative remuneration but also provide a stimulating environment for data scientists to innovate and drive progress.
2. Data analysts
As of May 2021, operations and research analysts, a category encompassing data analysts, commanded a median salary of $82,360 annually.
Earnings Spectrum
Bottom 10 percent: Less than $48,690
Top 10 percent: More than $160,850
Multiple factors will have an impact on a data analyst’s salary. Educational qualifications, years of hands-on experience, coveted certifications, and active participation in professional organizations all contribute to the grand finale of income.
These are the top-paying states for data analysts, according to the venerable BLS report:
- Virginia
- Alabama
- Hawaii
- Maryland
- New York
3. Machine learning engineers
Within the treasury of employment data from the Bureau of Labor Statistics (BLS), machine learning engineers find their place among computer and information research scientists. As of May 2021, the median annual salary was reported at $131,490.
The salary of machine learning engineers is significantly influenced by experience. Those entering the field often start with annual earnings of around $74,210. However, experienced professionals in this domain, with years of expertise, can command salaries exceeding $208,000 annually.
4. Data engineers
According to data from Glassdoor, data engineers earn a total annual pay of $111,998 on average, which includes their base salary and additional compensation such as bonuses and profit-sharing. On the other hand, senior data engineers command an average total pay of $154,989 per year. Generally, data engineers tend to earn above-average salaries.
According to data from Payscale, data engineers with one to four years of experience earn an average annual salary of $89,715. This figure rises to $108,537 for those with five to nine years of experience.
Professionals with 10-19 years of experience have an average annual salary of $117,582.
Those with over 20 years of experience also have an average yearly salary of $117,582..
5. Business Analysts
The BLS data indicates that the median annual salary for business intelligence analysts, classified under this broader category, is $82,360. However, it’s important to note that this figure can vary significantly depending on your location.
For instance, in California, the mean salary for a business intelligence analyst is $99,220, while professionals in Virginia have a mean salary of $117,480. Interestingly, within California, the San Jose metropolitan area boasts the highest mean salary in the country at $164,730 as of May 2021.
The specific skills you bring to the table, such as expertise in data warehousing, data modeling, and data mining, can also influence your salary potential.
6. Statisticians
As of May 2021, the Bureau of Labor Statistics (BLS) reports that the median salary for statisticians is $108,100. However, it’s important to note that a statistician’s salary can vary significantly based on various factors, including their level of experience, geographic location, specific skills, and the industry they work in.
BLS data highlights that statisticians in certain regions, such as San Francisco and San Jose, where numerous tech companies are situated in Silicon Valley, tend to earn higher salaries. Additionally, cities like Boston, Washington D.C., and New York City also rank among the top locations for well-compensated statisticians.
While the job title for statisticians may remain relatively consistent, salary levels tend to increase significantly with experience. According to BLS data, some of the highest-paid statisticians earn annual salaries of $157,300 or more. Notably, above-average pay often corresponds with proficiency in areas like machine learning, data modeling, data mining, and programming languages such as Python.
Conclusion
Data science careers are highly desirable because they offer high salaries, strong job growth prospects, and the opportunity to work on challenging and impactful projects. If you’re interested in a career in data science, there are a number of resources available to help you get started. Our blog could be a good place to start.
At Vedere Institute, we pride ourselves on designing a Master of Applied Data Science program that isn’t playing catch up with the industry.
Our curriculum helps students find their footing in their data science careers, equipped with the skills and knowledge to adapt to the rapidly evolving industry. If you want to learn more about our degree program, fill in the form below to receive the complete brochure.
Happy learning!
