Decision Scientist Salary in 2023

Salary details

The average Decision Scientist salary lies between USD 142,200 and USD 204,500 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. 24, 2024

Salary trend

Top 20 Job Tags for Decision Scientist roles

The three most common job tag items assiciated with Decision Scientist job listings are SQL, Python and Mathematics. 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:

SQL | 44 jobs Python | 43 jobs Mathematics | 40 jobs Banking | 36 jobs Statistics | 36 jobs Open Source | 31 jobs Crypto | 31 jobs Blockchain | 31 jobs Engineering | 26 jobs KPIs | 24 jobs Tableau | 23 jobs Looker | 22 jobs Economics | 21 jobs Fraud risk | 20 jobs Machine Learning | 17 jobs Computer Science | 16 jobs CX | 14 jobs Data analysis | 13 jobs ML models | 12 jobs Data Mining | 11 jobs

Top 20 Job Perks/Benefits for Decision Scientist roles

The three most common job benefits and perks assiciated with Decision Scientist job listings are Health care, Equity / stock options 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:

Health care | 39 jobs Equity / stock options | 38 jobs Career development | 37 jobs Salary bonus | 36 jobs Insurance | 34 jobs Parental leave | 32 jobs Wellness | 31 jobs Signing bonus | 31 jobs Flex vacation | 27 jobs Flex hours | 24 jobs Team events | 22 jobs Medical leave | 20 jobs Flexible spending account | 20 jobs Home office stipend | 11 jobs Competitive pay | 7 jobs Startup environment | 6 jobs 401(k) matching | 4 jobs Conferences | 3 jobs Gear | 1 jobs Fitness / gym | 1 jobs

Salary Composition for a Decision Scientist Role

The salary composition for a Decision Scientist can vary significantly based on factors such as region, industry, and company size. Generally, the salary is divided into three main components: base salary, bonus, and additional remuneration.

• Base Salary: This is the fixed component and typically constitutes the majority of the total compensation package. In regions with a high cost of living, such as the San Francisco Bay Area or New York City, the base salary might be higher to compensate for living expenses.

• Bonus: Bonuses can be performance-based or company-wide and are often tied to the achievement of specific goals or milestones. In industries like finance or tech, bonuses can be a significant part of the compensation, sometimes ranging from 10% to 30% of the base salary.

• Additional Remuneration: This includes stock options, profit-sharing, or other incentives. Tech companies, especially startups, often offer stock options as part of the compensation package, which can be lucrative if the company performs well.

Steps to Increase Salary from a Decision Scientist Position

To increase your salary from a Decision Scientist position, consider the following strategies:

• Skill Enhancement: Continuously update and expand your skill set, particularly in emerging technologies and methodologies in AI/ML and data science.

• Advanced Education: Pursuing further education, such as a master's or Ph.D., can open up higher-paying opportunities and leadership roles.

• Networking: Build a strong professional network to learn about new opportunities and gain insights into industry trends.

• Industry Transition: Consider moving to industries that offer higher compensation for data science roles, such as finance, healthcare, or tech.

• Leadership Roles: Aim for managerial or leadership positions, which typically come with higher salaries and additional responsibilities.

Educational Requirements for a Decision Scientist

Most Decision Scientist roles require at least a bachelor's degree in a relevant field such as computer science, statistics, mathematics, or engineering. However, many employers prefer candidates with a master's degree or Ph.D. in data science, machine learning, or a related discipline. Advanced degrees often provide a deeper understanding of complex algorithms and data analysis techniques, which are crucial for this role.

Helpful Certifications for a Decision Scientist

While not always mandatory, certain certifications can enhance your credibility and demonstrate your expertise:

• Certified Analytics Professional (CAP): This certification is recognized across industries and validates your ability to transform data into valuable insights.

• Google Professional Machine Learning Engineer: This certification demonstrates your proficiency in designing, building, and deploying machine learning models on Google Cloud.

• AWS Certified Machine Learning – Specialty: This certification is ideal for those working with AWS services and focuses on building, training, and deploying ML models.

Experience Required for a Decision Scientist Role

Typically, a Decision Scientist role requires several years of experience in data analysis, machine learning, or a related field. Employers often look for candidates with:

• Experience in handling large datasets and using data analysis tools like Python, R, or SQL.
• Proficiency in machine learning frameworks such as TensorFlow, PyTorch, or Scikit-learn.
• A track record of solving complex business problems using data-driven approaches.

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