Highest Paying Data Science Jobs in India in 2023

Data Science is a dynamic space, and it is one of the fastest-growing careers for this decade. The demand for Data Science Courses is currently very high in all parts of the world. 1.5 lakh new job opportunities are on the way to making it. Companies across all industries have realized that data is making prediction easier, as a result of which data scientists have become very important for any organization. 

Data Scientists are one of the highest-paid job roles in various organizations. Around 1400 data scientists in India earn more than 1 crore. In most companies in India, Data Scientists earn almost INR 28,00,000 per annum. Currently, there are about 70% of jobs available for Data Scientists with less than 5 years of experience. 

Future of Data Science in India 

Data Science facilitates data-driven techniques for decision-making and making more growth in the company. Speaking of the future or career of Data Science, there is an abundance of work for Data Scientists in India. Huge amounts of data both in structured and unstructured formats are retrieved regularly. In order to decipher such data, the companies are reaching out to Data Scientists. Some of the advantages of using Data Science are the following:

• Companies will be able to segment their customers and target them specifically to influence their purchasing decision. 
• Analyze the profitability of new and old products
• Detecting the correct target audience 
• Avoiding the loss of customers 
• Try to gain more potential customers. 

Highest Paying Data Science Jobs in India in 2023

Proficient data scientists earn very high salaries but sometimes some external factors also influence the salary. Geographic location plays an important role, Data Scientist jobs in bigger cities offer much higher salaries than in other small cities. As they become more efficient and gain more experience, their salaries also increase significantly. Some of the highest-paid data science jobs are mentioned below: 

Data Analyst

A data analyst examines data to uncover key insights about a company's customers and ways the data can be used to solve problems. They also share this information with company executives and other stakeholders. Data Analysts should have enough knowledge about A/B testing and tracking Web Analytics. They are required to manipulate and transform large data sets as well as assist higher-level executives. 

• The average data analyst salary in India ranges between INR 4,19,465 per annum - INR 9,80,000 per annum. The most popular recruiters are TCS, Ernst and Young, Amazon, and Accenture. 
• The preferred qualification for entry-level data analysts is a minimum of a bachelor's degree. Graduates in Science, Maths, and Statistics would have an upper hand. Candidates who are aware of SQL, Oracle, and Python are preferred more by the Hiring Manager. 
• Looking at the history of Data Analytics industry trends it can be concluded that this industry has seen exceptional growth. Through various observations, it can be said that by 2026 the trend in India is expected to touch $119 billion. 

Data Scientist

A data scientist's job is to analyze data to find actionable insights. Identifying the data-analytics problems that offer the most opportunities to the organization is one of the specific tasks. Choosing the appropriate data sets and variables. The position of Data Scientist is a more technical role than a data analyst. Data scientists perform various tasks such as cleaning, organizing, etc. 

• The average data scientist's salary in India ranges between INR 6,98,413 - INR 20,00,000 per annum. 
• In order to become Data Scientists students must either have a master's degree or a Ph.D. degree. Sometimes companies seek sector specialists for healthcare, IT, and retail. Data Scientists use unstructured data from sources like email, social media feeds, and smart devices. 
• Data Scientists are required to combine statistics, mathematics, and science. They interpret the results to produce a practical plan for companies. It is expected that data scientists will soon become a part of every job and will use their skills in social science and technical domains to understand and determine trends. 

Machine Learning Engineer

They create data funnels and deliver funnel software solutions. Their job role includes running various tests and experiments to monitor the performance and functionality of the system. Machine learning engineers use big data tools and programming frameworks to make sure that the raw data is filtered correctly. 

• The average machine learning engineer salary in India ranges between INR 6,91,892 - INR 20,00,000 per annum.
• More than any formal education, Machine Learning Engineers are expected to have strong programming skills and statistical skills. 
• Preferably most software engineers with huge experience in machine learning are preferred for such roles. The scope for Machine Learning Engineers is quite high as they are interconnected with many possible sectors. 

Machine Learning Scientist

Machine Learning Specialists are required to do some research for new approaches such as algorithms, and unsupervised and supervised learning techniques. Machine Learning scientists are hired as Research Scientists or Research Engineers. 

• The average salary of a machine learning scientist in India is around INR 7,20,000 - INR 19,00,000 per annum making it one of the highest-paying data science jobs.
• Mostly students from an engineering background with appropriate PG degrees can secure the job position of Machine Learning Scientists. 

Applications Architects

Applications Architects track applications, and also supervise how they operate within the company and how users interact. They are responsible for creating the application architecture, which includes elements like the user interface and app infrastructure, as suggested by the position title.

• The average salary of Application Architects varies between INR 3,00,000 - INR 10,00,000 per annum.
• In order to become an Application Architect, a degree in computer science with a certification in programming and architectural design is required. 

Top Highest Paying Companies for Data Scientists

Trends in Data Science 

In the current global setting, data science has seemingly endless potential. Therefore, it should come as no surprise that the highest-paying positions in data science favour candidates who regularly update their skill sets. Your capacity for critical thought along with your knowledge of current industry trends can make you stand out from the crowd. 

Extended Business Value: Data analysis would cost much more as the big data landscape becomes more complex and the need for improved governance grows. In order to lessen our reliance on centralized systems, we would require innovative chip infrastructures. So, the development of scalable AI and ML solutions would need to be sped up.

The Development of Data Pipelines: As more data is produced, we will require better filtering and analysis tools. Adding Artificial Intelligence skills to data pipelines would enable graph analytics, which has enormous potential for disaster preparation and disaster prediction.

Summing Up!

The industry is changing, thanks to data science. The duties and requirements of some of the data science positions with the highest salaries were covered in this article. Candidates who have the necessary abilities can make up to INR 28,00,000 per year working for major companies like Walmart, Amazon, Flipkart, etc. The usage of Data Science is not only restricted to the technological sector, it is also used in the social sector.