Applied Data Scientist Salary in 2023

Salary details

The average Applied Data Scientist salary lies between USD 29,691 and USD 67,635 globally. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 10, 2024

Salary trend

Top 20 Job Tags for Applied Data Scientist roles

The three most common job tag items assiciated with Applied Data Scientist job listings are Statistics, Engineering and SQL. Below you find a list of the 20 most occuring job tags in 2023 and the number of open jobs that where associated with them during that period:

Statistics | 96 jobs Engineering | 95 jobs SQL | 91 jobs Tableau | 83 jobs Mathematics | 80 jobs Python | 76 jobs Machine Learning | 71 jobs CX | 64 jobs R | 55 jobs GitHub | 50 jobs Excel | 48 jobs Finance | 40 jobs XGBoost | 30 jobs Research | 27 jobs Hadoop | 26 jobs Consulting | 24 jobs Economics | 23 jobs Computer Science | 23 jobs Causal inference | 21 jobs Git | 20 jobs

Top 20 Job Perks/Benefits for Applied Data Scientist roles

The three most common job benefits and perks assiciated with Applied Data Scientist job listings are Competitive pay, Team events and Career development. Below you find a list of the 20 most occuring job perks or benefits in 2023 and the number of open jobs that where offering them during that period:

Competitive pay | 95 jobs Team events | 82 jobs Career development | 50 jobs Health care | 28 jobs Startup environment | 26 jobs Parental leave | 25 jobs Wellness | 24 jobs Insurance | 24 jobs Flex hours | 23 jobs Flex vacation | 23 jobs 401(k) matching | 21 jobs Unlimited paid time off | 21 jobs Transparency | 15 jobs Equity / stock options | 8 jobs Salary bonus | 7 jobs Signing bonus | 3 jobs Medical leave | 3 jobs Flexible spending account | 3 jobs Conferences | 1 jobs Home office stipend | 1 jobs

Salary Composition for an Applied Data Scientist

The salary composition for an Applied Data Scientist can vary significantly depending on factors such as region, industry, and company size. Typically, the salary is composed of a fixed base salary, which forms the bulk of the compensation package. In addition to the base salary, many companies offer performance-based bonuses, which can range from 5% to 20% of the base salary, depending on the company's performance and the individual's contribution. Additional remuneration may include stock options or equity, especially in tech startups or larger tech companies, which can be a significant part of the total compensation package. Benefits such as health insurance, retirement plans, and other perks also contribute to the overall compensation. In regions with a high cost of living, such as the San Francisco Bay Area or New York City, salaries tend to be higher to offset living expenses.

Steps to Increase Salary from an Applied Data Scientist Position

To increase your salary from an Applied Data Scientist position, consider the following strategies:

• Skill Enhancement: Continuously update and expand your skill set. Mastering advanced machine learning techniques, deep learning, or specialized areas like natural language processing can make you more valuable.
• Industry Specialization: Gain expertise in a specific industry, such as finance, healthcare, or e-commerce, where data science skills are in high demand.
• Leadership Roles: Aim for leadership or managerial roles, such as a Data Science Manager or Lead Data Scientist, which typically offer higher salaries.
• Networking and Visibility: Attend industry conferences, contribute to open-source projects, and publish your work to increase your visibility and network within the industry.
• Negotiation Skills: Improve your negotiation skills to better advocate for higher pay during performance reviews or when switching jobs.

Educational Requirements for an Applied Data Scientist

Most Applied Data Scientist positions require at least a bachelor's degree in a relevant field such as computer science, statistics, mathematics, or engineering. However, a master's degree or Ph.D. is often preferred, especially for roles that involve complex data analysis and modeling. Advanced degrees provide a deeper understanding of statistical methods, machine learning algorithms, and data analysis techniques, which are crucial for the role.

Helpful Certifications for an Applied Data Scientist

While not always mandatory, certain certifications can enhance your credentials and demonstrate your expertise to potential employers. Some valuable certifications include:

• Certified Data Scientist (CDS)
• Microsoft Certified: Azure Data Scientist Associate
• Google Professional Data Engineer
• IBM Data Science Professional Certificate
• AWS Certified Machine Learning – Specialty

These certifications can validate your skills in data science tools and platforms, making you a more competitive candidate.

Experience Required for an Applied Data Scientist

The typical experience required for an Applied Data Scientist role ranges from 2 to 5 years in a related field. This experience should include hands-on work with data analysis, statistical modeling, and machine learning. Experience with programming languages such as Python or R, as well as familiarity with data visualization tools and big data technologies, is often expected. Internships, research projects, or previous roles in data analysis or software development can also be valuable.

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