Data science managers in the US mostly work in industries such as technology, finance, healthcare, IT, and government. They are responsible for leading and managing data science teams, developing and implementing data-driven solutions, and communicating data insights to stakeholders. Let us see about the Salaries for the Data Science Manager.
It’s worth noting that salaries for data science professionals are generally on the rise as the demand for their skills continues to grow across a wide range of industries. Additionally, many companies offer additional benefits and perks, such as bonuses, stock options, and flexible work arrangements, which can help increase the total compensation package for a Data Science Manager.
Salaries for the Data Science Manager
According to US News, data science manager jobs rank 6th among the best technology jobs and 22nd among the 100 best jobs. According to the US Bureau of Labor Statistics, salaries of data science manager in 2021 was $100,910 per year, and their per-hour wage was $48.52. Furthermore, data science manager jobs are expected to grow at a faster-than-average rate of 36%. The highest salary of a data science manager is recorded at nearly $200,000 per year, and the lowest salary is recorded at nearly $50,000 per year.
The average salary of data science managers:
According to the BLS, the average salary for a Data Science Manager is around $101,000, but it can range from $80,000 to $200,000 annually. In summary, the salary for a data science manager, whether junior or experienced, can vary depending on a variety of factors, but the average salary is around $101,000 per year. In cities with a high cost of living, such as San Francisco or New York, the average salary for a data science manager is typically higher, while in smaller cities or rural areas, the average salary may be lower.
Salaries of an experienced data science manager:
The salary of an experienced data science manager depends on the manager’s level of experience, abilities, and specific roles and responsibilities. In the United States, the average salary for an experienced data science manager is around $150,000 to $200,000 annually.
Salary for junior data science managers:
The salary for a junior data science manager can also vary significantly based on the city and state. Furthermore, larger companies and industries, such as technology and finance, tend to pay more to junior data science managers than smaller companies and industries. The average salary for junior data science managers is between $60,000 and $80,000 annually.
Skills crucial for data science manager:
- The skills listed below are very crucial for data science managers:
- Data analysis.
- database software experience.
- big data statistics
- Machine learning.
- Data mining and modeling
- Business intelligence.
- programming and data management.
- Data Architecture.
- Leadership and management
- Communication skills.
- Time management.
Factors affecting the salary of data science managers:
Remember, increasing your salary as a data science manager is a gradual process that requires effort, persistence, and patience. By focusing on these strategies, you can increase your earning potential and achieve your financial goals.
Industry:
Data Science Managers working in industries such as technology, finance, healthcare, and e-commerce tend to earn higher salaries compared to those working in other industries.
Location:
Top companies and those located in major cities with a high cost of living often pay more for junior and senior Data Science Managers.
Education and experience:
Data Science Managers with advanced degrees and extensive field experience tend to earn higher salaries.
Technical skills and expertise:
Managers with specialized skills and knowledge in areas such as machine learning, AI, and big data analytics tend to command higher salaries.
Performance and results:
Data science managers who have a proven track record of delivering significant business results and value through data-driven insights tend to earn higher salaries.
Demand and supply:
The demand for Data Science Managers can have an impact on salaries because high demand can automatically raise pay.
Methods for increasing the Data Science manager’s salary:
As a data science manager, there are several ways you can increase your salary:
Acquire new skills and certifications:
Consider obtaining certifications in data science, machine learning, and related areas.
Networking:
Attend industry events and make connections with others in your field of data science. These connections can lead to new job opportunities or salary negotiations.
Seek new opportunities:
As a data science manager, consider looking for a new job that offers a higher salary but make sure to negotiate your salary before accepting a job offer.
Ask for a performance-based raise:
As a data science manager, if you have achieved significant results for your organization, consider asking for a performance-based raise.
Consider taking on additional responsibilities:
If you have the skills and experience as a data science manager, consider taking on additional responsibilities within your organization. This can lead to a promotion and a salary increase.
Top-paying industries for data science managers:
- Computer and peripheral device manufacturing:
The annual salary of a data science manager in this field is $148,290 annually and $71.29 per hour.
- Electronic and other semiconductor component manufacturing:
The annual salary in this industry is $142,150 annually, $71.29 per hour.
- Other information services:
The annual salary of a data science manager in this industry is $139,600 annually, $67.12 per hour.
- Data processing, hosting, and related services:
The annual salary of a data science manager in this field is $126,160 annually, $60.65 per hour.
- Accounting, taxation, and other related services:
The annual mean salary of a data science manager in this field is $124,440 annually, $59.83 per hour.
- Computer systems and design-related services:
A data science manager in this field is $116,300 per year or $ 55.91 per hour.
- Scientific research and development services:
The annual salary of a data science manager in this field is $113,430 or $54.53 per hour.
- Software publishers:
A data science manager in this field can earn $110,070 annually, $52.92 per hour.
Salary of data science according to states:
- Washington:
The average median salary of data scientists in Washington is nearly $133,900.
- California:
The average median salary of data scientists in California is nearly $133,110.
- Delaware :
The average median salary of data scientists in Delaware is nearly $127,810.
- New York:
The average median salary of data scientists in New York can be nearly $122,540.
- New Jersey:
In New Jersey, the average median salary for a data scientist is nearly $120,240.
Conclusion:
Always remember that the salary of a data science manager can vary widely based on the factors mentioned above, and it’s essential to consider all factors when evaluating the salary. A commitment to four or more years of intense study at a recognized university is necessary to become a data scientist. Since it’s a difficult career, those who enter it with expertise receive more pay.
FAQ:
- Are data scientists employed by NASA?
Data scientists assist in making sense of the petabytes of data that NASA collects and keeps, whether it be related to changes in land use, air composition, or sea level.
- Which corporation employs data scientists the most?
One of the best-known corporations in the world for e-commerce, supply chain management, cloud computing, and AI and machine learning development is Amazon, together with its subsidiary cloud computing company AWS.
- Do statisticians make more money than physicians?
They do, a data scientist makes more money than many other professions, such as doctors, based on future trends and the value placed on their work.
