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median entry level software engineer salary
Median entry level software engineer salary: The average salary of a data scientist is $100,560 in accordance with the U.S. Bureau of Labor Statistics. The main reason for the higher salaries for data scientists is the fact that companies recognize the potential in big data and are looking to utilize it to inform strategic business decisions. Since the supply of data specialists isn’t yet up to the demand, salaries for these positions are still very high, particularly for those with an advanced education with a degree in data science or a related field.
It’s not a secret that data scientists can add tremendous worth in the workplace. But finding someone who is able to perform all the work of an expert in data science isn’t easy, and the competition to hire this kind of person is intense. This is why businesses are more than willing to pay skilled data scientists high salaries.
According to O’Reilly’s 2016 Data Science Salary Survey, the amount of experience is among the most significant factors that affect the salary of a data scientist. With each year of work experience, data science professionals earn an average of between $2,000 and $2500 more.
In O’Reilly’s salary for data scientists report that surveyed, the majority of respondents stated that they have an official title such as “data scientist.” Another 31 percent of respondents said they’re the top management position; engineer, developer programmer, or some other. The more data science professionals are involved in managerial duties, such as leading teams or identifying business issues that can be solved using analytics or interacting with outside parties–the more lucrative the amount of money they earn.