Introduction

Data analytics is definitely the talk of the town and if you are remotely interested in the Information Technology industry, you might have some idea about it as well. It is the analytics of gathering data, extracting useful information from it and then using these data sets to search for patterns and draw meaningful conclusions. These trends and conclusions are then communicated to the business managers who use these to make informed decisions and ultimately help the company achieve the set prospects and goals. In other words, Data Scientists have an extremely important role in the overall functioning of any organization.

It is pretty clear from this description that Data Scientists are pivotal to the functioning of any company. Hence, they must be receiving a hefty paycheck at the end of every month. That is actually true and according to a recent survey, a data scientist earns up to 163% more than the average salary of any working professional.

Why exactly are these Data Scientists earning so much?

This is due to a number of reasons, but the given factors govern this higher payment out of all reasons:

A skilled Data Scientist is taught to use a number of Data analytics tools. However, it is up to the Data Scientist as to which tools are they using. The selection of the tools plays an important role in the overall payment of the Data Scientist. The users of the Apache Spark earn the most, followed by the users of Spark and so on. Familiarity with cloud-based services and open source tools also adds up during payment even if you are not using a trending Data analytics tool. A highly paid data scientist is skilled in more than fifteen tools.

The industry that a data scientist works in also affects the salary. Data Scientists related to social networking sites/ search websites earn the most. They are followed by hardware and software development companies. Major companies like Google and Facebook pay the highest because the amount of Big Data they deal with is probably the highest in the world.

The third factor is the location of your company and the place you work from. San Francisco has the highest paying data scientist jobs. Even the West Coast fares better in terms of salary when compared to the East Coast. Cities like Austin and Los Angeles fair poorly in terms of salary because of the high cost of living and low base salary.

Finally, the post for which you are hired becomes crucial when you are being paid. You should make sure that you are being hired for the work of a Data Scientist and not that of a Data Analyst or Data Engineer.

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All this talk about an increase in your present salary must have made you interested in Data analytics and data analytics course in Bangalore. We hope that this article was informative enough and you will share it with your friends and acquaintances who have similar interests.