The statistics most of us have seen rank data scientist as one of the top 3 career choices
in terms of compensation.
However, we know that there can be considerable differences based on location and company
type.
In this video, we wanted to make a short comparison, pointing out the differences in terms of data
science salaries around the world.
For the sake of consistency, the comparison includes self-reported Glassdoor data only.
Also, we need to be wary that a dollar in New York has a different purchasing power
than a dollar in Mumbai or Eastern Europe for example.
Nevertheless, the numbers are more than intriguing.
Let’s start with the old continent – Europe.
The median data scientist salary in London is $70,633.
Across the British market, the majority of data science employers are based in England
(91%), while 8% are in Scotland and 2% in Wales.
As expected, London makes for 55% of all data science jobs in the UK.
Germany’s strong economy allowed it to surpass Britain in terms of data science salaries.
Someone working as a data scientist in Munich, for example, can expect a median pay of $75,175
per year.
Based on recent research, by the year 2030, Germany will need up to 3 million tech workers,
with a considerable number of them being data professionals.
At the same time, Switzerland stands out as one of the countries with the best salaries
in Europe.
A data scientist in Geneva will take home $119,892 annually.
That’s a considerable difference compared to the UK and Germany, right?
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Ok, where were we?
Ah, yes!
Still in Europe, there are, of course, countries that have some significant catching up to
do.
In Romania, data scientists receive $41,424 on average, while in Bulgaria, they’ll be
paid $26,996.
This is the lowest amount in the European Union.
Perhaps, in the next few years, the strong development of the startup ecosystem in the
Eastern European region and the advent of very successful AI startups, such as the Romanian
UiPath, would allow salaries in the data science field to match up with the ones in Western
Europe.
But that’s not the only region that needs to catch up.
There are considerable differences in Africa as well.
If you work as a data scientist in Cairo, you can expect to receive around $11,549,
while someone working in the same position in Cape Town will be able to make $49,572.
India is one of the global powers in the data science world.
The entry of many US companies has increased data science salaries a bit in recent years.
Someone working in Mumbai would receive a mean salary of $15,510.
The mean pay in Hyderabad is slightly higher at $16,546.
Not too far from India in terms of distance, but quite far in terms of pay, is the Land
Down Under.
Australian data scientists receive a mean income of $85,200 per year.
That’s significantly more than the previous few examples we have, isn’t it?
Finally, we’ll take a look at North America.
If you are someone who works in Toronto, Canada, then you receive around $76,844 per year.
And as expected, US salaries are the highest - $126,766 in New York and $132,312 in San
Francisco.
The United States Bureau of Labour Statistics expects that by 2026, the demand for trained
data scientists will continue to surge, resulting in a 27.9% rise in employment.
The increased demand leads to a lack of trained professionals, which in turn could drive salaries
even higher.
This wraps up the comparison we wanted to make in today’s video.
We hope you enjoyed it!
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