By Danielle Bilbruck for Galvanize
In this day and age, there is no shortage of data collected by companies, whether it’s data on existing users, data around overall CX/UX, data about their competitors, data around social listening, data about sentiment around a product or service… the list goes on. Most companies don’t have a problem acquiring the data anymore; as a matter of fact, companies are likely drowning in it and don’t know what to do next. Making sense of the data has become a critical need, and that’s where a data scientist comes in.
Now that companies have collected all this data for themselves, they need to know what to do with it when it comes to insights, research and development, forecasting, and more. Data scientists help put the puzzle pieces together in a way that makes sense for company decision-makers and leadership, and can often help directly contribute to increasing revenue or market share.
Companies are willing to pay a pretty penny to bring in the best talent they can find into their data science departments because they know what a good investment these roles truly are for their bottom line.
Just how much are companies willing to pay for such a valuable skill set?
Here are 10 companies paying the most for data scientists to join their teams in 2020:
1. Snap, Inc.
Headquarters: Santa Monica, CA
Total average compensation package: $238k
Average cost of living: 106% higher than the national average
While many folks think of Snap, Inc. as a social media company because of the social media application Snapchat, Snap actually considers itself a “camera company,” looking to reinvent how cameras are used overall. They’ve done this by incorporating wildly popular augmented reality filters into their application, making your cell phone camera a lot more fun than it would be just on its own.
Snap has a big road ahead: They’re trying to outpace competitors like Instagram, and to do that, they need good information and crystal-clear forecasting. That’s why they offer one of the highest compensation packages nationwide for even more junior to mid-level data scientists, at $238K annually. On average, inside this package, $170K is set aside for the base salary, with a $13K annual bonus and a whopping $55K in company equity. Additionally, they sweeten the deal for potential interviewees with signing bonuses around $18K. That’s a pretty picture.
2. Airbnb
Headquarters: San Francisco, CA
Total average compensation package: $223k
Average cost of living: 80% higher than the national average
For the folks over at Airbnb, it made more sense to allow people to open up their homes as rental income streams than deal with non-negotiable prices dictated by hotel overlords. Data scientists are a critical part of Airbnb’s operation, allowing the company greater visibility into things like short-term rental markets or big accommodation seasons.
That’s why they are willing to pay handsomely for this particular skill set, with an average annual compensation package of $223K! Broken down, this package averages a base of $145K, with an average annual bonus of $16K and a very generous $62K in company equity. While their signing bonus hovers around $11K, this company package is one to write home (or an Airbnb!) about.
3. Netflix
Headquarters: Los Gatos, CA
Total average compensation package: $222k
Average cost of living: 138% higher than the national average
Netflix overhauled the entire entertainment industry starting in 1997, taking on at-home video giants like Blockbuster and Redbox. Over 20 years later, they’ve created new viewing styles like the “binge-watch” and developed their own production company, capitalizing on a new golden age of entertainment in both film and television.
But how do they know what kind of TV or movies will succeed? How can they tell what is popular or what kind of entertainment will be enjoyed by which demographics? Data science! Data scientists are an incredibly integral part of the company, upon which much of their future success is hinged. Their average compensation package reflects that, at an average of $222K annually. While numbers could not be obtained regarding a breakdown of that package, the total package number is absolutely a box-office hit.
4. Pinterest
Headquarters: San Francisco, CA
Total average compensation package: $212k
Average cost of living: 80% higher than the national average
Another wildly popular company that many think is a social media platform, Pinterest positions itself as the world’s go-to visual search engine, providing “boards” for users to pin important links, products, services, and ideas.
Because they’ve got big shoes to fill and other major search engines to compete with, Pinterest has a vested interest in making sure their data makes sense when developing new product updates and giving users what they need. Their total compensation package for data scientists who can make that happen is $212K, broken down into a $145K base salary, an average annual $12K bonus, $55K in company equity, and a $16K signing bonus. Put a pin in that one.
5. Lyft
Headquarters: San Francisco, CA
Total average compensation package: $209k
Average cost of living: 80% higher than the national average
One of a few companies transforming the taxi industry into a “rideshare” industry, Lyft connects gig workers to folks needing a ride to and from their destination. In the last couple of years, Lyft also released rental scooters, a product development influenced in large part by a wealth of data. They need data scientists to help them stay on the cutting edge of what ridesharing evolves into, so they also provide commensurate compensation packages to attract top data science talent.
Their average total compensation package is around $209K, with an average base salary of $147K, with $62K in company equity. With an average signing bonus of $18K, you could call that a definite lift.
6. Etsy
Headquarters: Brooklyn, NY
Total average compensation package: $207k
Average cost of living: 129% higher than the national average
Clocking in as our only East Coast HQ on the list, Etsy has created a platform for creators and artisans to sell their products online, turning some folks’ hobbies into side hustles or full-time careers. Being the premier online marketplace for makers, Etsy relies on a great deal of data to help match shoppers to the products they’re looking for, cutting out the noise in between.
Data scientists help them do just that, with an average total compensation of roughly $207K, which is a great number even in New York City! Around $143K of the package is base salary, with a very high annual bonus rate of $26K with $13K in company equity. While the signing bonus is a bit less than others on this list at around $9K, Etsy’s overall package is enough to make any data scientist very happy.
7. Uber
Headquarters: San Francisco, CA
Total average compensation package: $206k
Average cost of living: 80% higher than the national average
Joining Lyft on this list is the other big-name ridesharing giant, Uber, crossing into not just gig-driven ridesharing, but also luxe vehicle accommodations, public transportation, and food delivery. If you think that all of that is pretty diverse for a company originally meant to put drivers behind their own income wheel, you’d be right, and they have data scientists to thank for diversifying into different solutions areas.
At Uber, data scientists can expect an average total compensation package of $206K, with ample company equity at around $66K, and annual bonuses of $19K. Topped off with an $11K signing bonus, Uber may take you where you want to go in your data science career.
8. Facebook
Headquarters: Menlo Park, CA
Total average compensation package: $198k
Average cost of living: 119% higher than the national average
The first true social media platform on our list, Facebook arguably invented the kind of social data we know today. Not only are data scientists critical at Facebook to help them determine user experiences and needs, but also because they provide paying customers, or Business Pages, with the data they need to have available to them.
Data science is a highly necessary part of the platform’s existence and progression, which is why they also offer a nice total compensation package averaging $198K. Of this, the average base is around $144K with an annual bonus of $16K and $39K in company equity. A $27K signing bonus may make this company one to watch in any data scientist’s book.
9. Twitter
Headquarters: San Francisco, CA
Total average compensation package: $198k
Average cost of living: 80% higher than the national average
It’s only fitting that the other major player in social data come in tied with the first. If it can be argued that Facebook created social data as we know it, Twitter sought to refine it completely. Anymore, news breaks on Twitter, and with their own proprietary social listening platforms, they have become a major data provider for companies looking to understand customer sentiment and competitor strategy.
Since data is at the core of everything Twitter does, it only makes sense that they would also offer compensation packages to prove how valuable data scientists are to them, tied with Facebook for a total average of $198K. With just a bit higher base salary average of $145K, as well as a bit higher company equity stake at $41K, they do clock in just a bit lower than Facebook when it comes to annual bonuses, at $13K. While their average $15K signing bonus does feel substantially less than their competitors, it’s still definitely not for the birds.
10. Dropbox
Headquarters: San Francisco, CA
Total average compensation package: $183k
Average cost of living: 80% higher than the national average
Masters of online storage, Dropbox counts on data for its continued existence, keeping users happy with their cloud-based storage plans. Even though they come in last on this particular list, their total compensation package is still significant, at an average of $183K. With a typical $122K base and annual $15K bonuses, they have assuredly earned their ranking on this list, to say nothing of an estimated $47K in equity and a $16K signing bonus, just a couple things about the company you can put in a box.
As you can probably see from this list, major companies are willing to pay handsomely for even entry-level data scientists looking to grow their careers in meaningful ways, doing meaningful work.
Graduates of bootcamps such as Galvanize also have the advantages of a career services teams to help data science bootcamp grads find their dream job.
FAQs
Which company pays highest salary for data scientist fresher? ›
IBM. American multinational tech company IBM was named a leader in the 2021 Gartner Magic Quadrant for data science and machine learning platforms.
Which company is best for data scientist job? ›- IBM. IBM is an American multinational technology corporation with its headquarters in Armonk, New York. ...
- Wipro. Wipro is known for its information technology, consulting, and business process services. ...
- Cloudera. ...
- Splunk. ...
- Numerator.
Andrew Ng is a scientist and professor at Stanford University, and he has made a name for himself in the data science community. Ng has been working on artificial intelligence since before it was trendy. His work has helped scientists revolutionize Google Brain—the company's massive AI project that is still underway.
Which IT company gives highest salary in USA? ›| Highest paying Technology Companies | ||
|---|---|---|
| Top Tech Companies | Tech company Salary | % High Job Satisfaction |
| $116,800 | 96% | |
| $106,900 | 89% | |
| Microsoft | $102,500 | No Data |
The exact method varies slightly depending on the position, as Google may hire data scientists to be placed in research, product analysis, or other areas. At the start of the process, your recruiter will provide you with information outlining the types of interviews you can expect. Step one is to apply.
Is TCS good for data science? ›With proprietary tools, TCS also helps in converting data into easy-to-interpret visual reports and dashboards. Analytics, Insights, and Intelligence: We provide generic or customized services involving Big Data, predictive, and prescriptive analytics.
Which job has highest salary in world? ›Anesthesiologists are trained physicians who have special training in preoperative care. This is one of the highest paying jobs in the world. They play a very important role in a surgical procedure, as they must ensure that the patient receives the correct type and correct dosage of anesthesia while under the scalpel.
Which country is best for data science? ›- Bengaluru, India. ...
- Average Salary: Rs. ...
- Geneva, Switzerland. ...
- Average Salary: 180,000 Swiss Fr (Franc) to 200,000 Swiss Fr (Franc) per annum.
- Berlin, Germany. ...
- Average Salary: €11,000 to €114,155 per annum.
- London, United Kingdom. ...
- Average Salary: £62,771 per annum.
Microsoft. Microsoft, a leader in software, hardware, gaming, cloud, edge, and digital transformation, has a diverse range of career opportunities for data scientists. Microsoft, undoubtedly, is one of the top companies hiring data scientists in 2022.
Why data scientists get paid so much? ›Demand: We all are familiar with the demand concept of Economics – Higher the demand, higher is the price. Same is applicable here as well. The demand for data scientists at a global level is immense and that forms a base for an attractive data scientist salary.
Can data scientist become CEO? ›
On following the path of becoming a data scientist, many are keen to know whether they could become a CEO in the long run. Well, with data being the foundation for any business, a data scientist, who holds enough knowledge about it could definitely emerge out as a successful CEO.
Who is father of data science? ›The modern conception of data science as an independent discipline is sometimes attributed to William S. Cleveland. In a 2001 paper, he advocated an expansion of statistics beyond theory into technical areas; because this would significantly change the field, it warranted a new name.
Who is the youngest data scientist? ›Young Veer Shandilya caught his attention in the technological aspect of fiction in Sci-fi movies. His interest paved the way to becoming the youngest Junior Data Scientist (AI) at Clevered.com globally at 11.
Which country has more data scientist? ›United States. Data scientists in the US are paid handsome salaries amounting to USD 165,000 on average per year. The US is reported to be the one of the countries that pay the highest for data scientists.
Which IT job is best for future? ›Data Scientist
It is the highest paid job and the Data Scientists are highly skilled in both technology and social science. Data Scientists are also known as Data engineers, Data analysts, Business intelligence specialists and Data architects.
The highest paying company for a Software Engineer in India is Prophecy with an average salary of ₹12,672,317.
Which tech company pays the most 2022? ›- Google. ...
- Netflix. ...
- LinkedIn. ...
- Apple. ...
- Uber. ...
- Amazon. ...
- Stripe. ...
- Microsoft. Microsoft is another tiered company, with levels from SDE (entry-level) to 67 at the top.
Sign in to save Data Scientist I at Amazon. We are looking for motivated data scientists with excellent leadership skills, and the ability to develop, automate, and run analytical models of our systems.
Who earn more data scientist or software engineer? ›The average yearly salary for data scientists is $120,103 . The average yearly salary for software engineers is $102,234 . Software engineers also receive an average of $4,000 in bonuses each year. Your salary may vary depending on your experience, skills, training, certifications and your employer.
Is there a PHD in data science? ›The Ph. D. specialization in data science is an option within the Applied Mathematics, Computer Science, Electrical Engineering, Industrial Engineering and Operations Research, and Statistics departments.
Which company pays highest salary for data scientist in India? ›
- IBM.
- Deloitte.
- Accenture.
- 8. [ 24]7.ai.
- LinkedIn.
- Citrix.
- Fractal Analytics.
- Two Roads Tech.
According to Glassdoor, data scientists make on average $128,549, while some areas like metro cities and Silicon Valley report salaries of more than $200,000.
Does Goldman Sachs hire data scientist? ›178 Goldman Sachs Data Scientist jobs in India (4 new)
Is data science high paying? ›One of the highest-paying careers in data science. Data Scientists earn an average of Rs. 116,100 a year, according to Glassdoor. As a result, Data Science is a very lucrative career choice.
Is TCS good for data science? ›With proprietary tools, TCS also helps in converting data into easy-to-interpret visual reports and dashboards. Analytics, Insights, and Intelligence: We provide generic or customized services involving Big Data, predictive, and prescriptive analytics.
Which job has highest salary in world? ›Anesthesiologists are trained physicians who have special training in preoperative care. This is one of the highest paying jobs in the world. They play a very important role in a surgical procedure, as they must ensure that the patient receives the correct type and correct dosage of anesthesia while under the scalpel.
Which country is best for data science? ›- Bengaluru, India. ...
- Average Salary: Rs. ...
- Geneva, Switzerland. ...
- Average Salary: 180,000 Swiss Fr (Franc) to 200,000 Swiss Fr (Franc) per annum.
- Berlin, Germany. ...
- Average Salary: €11,000 to €114,155 per annum.
- London, United Kingdom. ...
- Average Salary: £62,771 per annum.
Data scientists are paid so much because there is a large global demand for their skills, their work is extremely valuable to most companies, the supply of these professionals is scarce, they need several advanced skills that take years to master, and finally because their work can be extremely stressful at times.
Are data scientists happy? ›A solid majority of data scientists enjoy their work environment, probably contributing to overall higher satisfaction with working as a data scientist.
Is data scientist a stressful job? ›Several data professionals have defined data analytics as a stressful career. So, if you are someone planning on taking up data analytics and science as a career, it is high time that you rethink and make an informed decision.
What is Goldman Sachs salary? ›
Average annual salary in Goldman Sachs is INR 19.6 lakhs. Salary estimates are based on 8.6k Goldman Sachs salaries received from various employees of Goldman Sachs.
How much does a Goldman Sachs analyst make? ›How much does a Analyst at Goldman Sachs make? The typical Goldman Sachs Analyst salary is £57,314 per year. Analyst salaries at Goldman Sachs can range from £15,545 - £130,141 per year.
How much do software engineers at Goldman Sachs make? ›You should know that the average Goldman Sachs software engineer salary is $114,219 per year. This includes bonuses and other compensation figures. Annual salaries for software engineers at Goldman Sachs range from $77k to $238k on average.
What is the highest salary of data? ›- Big Data Engineer. Annual Salary Range: $115,250–$168,250+ ...
- Data Architect. Annual Salary Range: $127,750–$176,500+ ...
- Data Security Analyst. Annual Salary Range: $115,000–$166,750+ ...
- Database Manager. ...
- Business Intelligence Analyst. ...
- Data Scientist. ...
- Data Modeler. ...
- Database Developer.
On following the path of becoming a data scientist, many are keen to know whether they could become a CEO in the long run. Well, with data being the foundation for any business, a data scientist, who holds enough knowledge about it could definitely emerge out as a successful CEO.
How can I increase my salary in data science? ›Moving up in terms of roles can also help you increase your earning power. You can generally expect a salary bump every time you level up from a Level 1 data scientist to a Level 2 data scientist, and so on. Also, being a data scientist manager, which typically requires supervising others, tends to pay more.