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As a data scientist, you are responsible for collecting and analyzing data for your company.
to evaluate. But what is a data scientist's salary and is it worth paying for the job?
maybe even go abroad? This is difficult to generalize, because as with any
Many factors influence how much you can earn, such as the industry, your experience or simply the size of your employer's company. You can find out more about this in our article.
By the way: If you are interested in further training to become a data scientist, you can do so thanks to Education voucher even free of charge under certain conditions.
What is a data science salary?
The salary range for data scientists is wide. While Bachelor graduates in
Germany can expect an annual salary of between 44,000 euros and 52,000 euros,
a job in America can average around 96,000 dollars.
But academic further training also has a positive impact on your salary: with a
Master's degree, annual salaries of up to 57,000 euros can be claimed, with a
Promotion even up to 67,000 euros. In addition to the region and your degree
but other factors also affect your salary:
What is the Data Scientist salary when starting a career?
If you are preparing to start as a data scientist, it is important to know the different
factors influencing your salary. Here in Germany, the
Starting salaries average between 44,000 and 60,000 euros per year, depending on the sector,
regions and company sizes. Your individual qualifications,
Professional experience and negotiation skills also have an influence on how high
your remuneration will ultimately be. But what exactly does that mean in figures?
Data Scientist salary after graduation & experience
The factors of training and experience are probably the ones you influence the most
and which can also be significantly reflected in your salary:
With a Bachelor's degree at the start of your career, you can earn salaries of 44,000 euros
up to 52,000 euros. They are correspondingly higher if, in addition to your
have already worked as a student trainee or have completed relevant internships.
Certified further training is also positively noted as experience. You can find such
z. e.g. at StackFuel: The 100 % remote Data Scientist course offers you the opportunity to completely
flexibly alongside your work or full-time to consolidate and expand your Python skills.
If you already have a Master's degree, you are in the salary range between
48,000 euros and 57,000 euros.
Salaries for data scientists are particularly attractive with
Doctorate. Your doctorate will earn you an average annual salary of
63,000 to 67,000 euros, and occasionally you can even find jobs for up to 71,000 euros.
Data Scientist salary by industry
Contrary to what one might expect from a data scientist, it is not the
It is not the insurance industry that offers the highest starting salary, but the automotive industry. Here
The remuneration for career starters is just under 60,000 euros, while in the
Insurance salaries average 55,000 euros at the start of the career. On
However, the lowest earnings of 49,000 euros for a career starter are in the retail sector.
out. Depending on the industry, the difference in pay can therefore be as much as 10,000 euros.
vary,
Data Scientist salary by company size
In addition to your choice of industry and the degrees and references you can provide, the
Data Scientist starting salary also depends on the size of your future employer.
Large companies, especially in the technology sector, tend to do this,
offer more competitive salaries, while smaller start-ups tend to offer lower salaries.
pay starting salaries. In return, you usually have the opportunity to contribute more intensively and
actively shape the company.
Data Scientist salary by region
At the beginning of the article, we teased that it may be worthwhile to pay for a better
payment abroad. But even within Germany, your
Starting salaries can vary by up to 15,000 euros per year, depending on the region. This is due to
This is because the federal system of the Federal Republic of Germany means that salaries vary from region to region,
but also other costs of living.
The top state for starting salaries is Hesse, with a level of almost
60,000 euros. This is followed by Baden-Württemberg with 58,000 euros and Hamburg with 56,600 euros.
Lower salaries are paid in the new federal states in particular, which is how
Mecklenburg-Western Pomerania brings up the rear with around 44,500 euros. With around 400
However, there is a wide range of job vacancies across Germany (as of March 2024
with Stepstone)
Internationally, the European average is slightly lower than in Germany. According to Indeed, starting salaries in Spain are around 34,000 euros, while in France they are as high as 46,300 euros per year for a career starter. Metropolitan regions are again an exception - in the greater Munich area, for example, above-average salaries of 63,900 euros are paid for the federal state of Bavaria. And London is also above the European average at 58,000 euros.
Even more significant jumps in salary can be seen in the USA: here, starting salaries can already range between 62,000 dollars and 86,000 dollars - that is between 56,000 and 78,500 euros (conversion rate as of March 2024). Even if this is well above the European average, it should always be noted that the cost of living in the USA is significantly higher than here.
How is the data science salary developing?
You've got your start - but what happens now? As professional experience increases, the data scientist salary usually rises too. Experienced data scientists often have a deeper insight and better understanding of complex data problems. This enables them to plan strategically better and thus make better decisions. In concrete figures, this means that after just two years in the role of a Junior Data Scientist, you can earn an average salary of 58,300 euros.
can receive.
You are considered a professional if you have between three and five years of experience. Here are
Remuneration of between 60,100 euros and 74,600 euros is the rule.
With five or more years of professional experience, you can apply for senior positions.
Data Scientists. This person has extensive knowledge of data analysis and
Machine Learning, which qualifies him for salaries of up to 85,500 euros. Add to that
possibly also management experience, the salary can be even more generous.
Relevant salary ranges per experience or job title are shown below:
Starting salaries are also worthwhile as a Data Scientist career changer. Already up to 64,500 euros
Depending on your industry experience and technical skills, you can work for the
Get a job. Are you curious about how to become a data scientist? In our Blog show
we will show you what the tasks of a data scientist are and how you can become one yourself.
can become.
How your data science salary is structured
- The salary range for a data scientist is between 44,000 euros and 100,700 euros
- Your salary is influenced by many factors, including your degree and other
- Experience, the industry and region of your employer and the size of the company
- You can influence your salary through further training and professional experience
The average Data Scientist salary in Germany is 63,500 euros per year, which corresponds to a monthly gross income of around 5,100 euros. However, with appropriate professional experience and management responsibility, this salary can be increased to up to 100,700 euros, which corresponds to a monthly gross salary of around 8,400 euros.
Online training, for example, is a good way to increase your income. With the qualification to Data Scientist with focus on Python from StackFuel, you can use your
Deepen your knowledge of the programming language. This will enable you to process data on the fly.
easy to interpret and explain to your bosses. With an education voucher
the course is also completely free for you!
By choosing the company location, you still have an influence on your salary.
The size of the company also has a positive effect on your remuneration. The most
but you can influence your salary through further training and experience. We are happy to accompany you
on the way and prepare you perfectly for your journey with the offers from StackFuel.com.
Career as a data scientist!
Sources
Stepstone (2024): "Data Scientist Jobs“ [12.04.2024]
GetinIT (2023): "Your salary as a data scientist“ [12.04.2024]
Transparency note: All figures are rounded median values and are paid by around 50 percent of employers. Lower and higher salaries can always be paid in reality, we always recommend that you have a specific salary discussion with your future employer.
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