Explore The Hidden Data Science Career Opportunities in India | Learnbay
Will the data science career transition be a good decision in 2021 and 2022?
‘Data science has the highest number of job offering fields throughout the entire 2020. Even the pandemic situation, the massive layoffs, couldn’t reflux the demand of data scientists. Rather, the data science career transition has become the loudest buzz across the global job market. According to the Analytics Insight survey, by the end of 2021, about 3,037,809 new artificial intelligence and Machine learning job vacancies will be generated worldwide.
But what about the Indian job market?
Let’s dig out the scopes and job opportunities for data scientists in our own country.
What are the present scopes of data science in India?
Of course, being the most advanced technological field of the century, aspirants keep their eyes on the westerns 1st world countries for drawing insight about data scientist career opportunities. But, do you know, starting from the mid of 2020 until now (mid of 2021), India has been in the second position (after the US) to recruit data scientists across several industries.
Yes, around 50,000 new data science positions were filled by the end of January 2021, and around 97000 positions were still looking for suitable aspirants. In the meantime, by the first half of 2021, after huge layoffs, so many companies, mainly MNCs, have started recruiting again in various roles. Among these job roles, 45% belong to various subdomains of data science, and the percentage will increase by the mid of 2022.
Let’s have a look at the current data science job opportunities in India.
Current Job openings in data science and AI in India
As of the date 5th of May 2021, 15,546 Indian data science jobs are listed in the globally popular professional platform ‘LinkedIn.’ The number becomes 29972 in the case of India’s number 1 job listing site ‘Naukri.com.’ ‘Indeed’ has listed 23,309 data scientist vacancies across India, while Glassdoor number is 3320 for the same.
From the above data, you can now realize the extremeness of data science intelligence demand.
Now, let’s narrower our search measure. If we analyze the location-wise job opportunities for data science aspirants, then the result massively varies from non-data science job roles. While Mumbai, Bangalore, and Pune hold the top 3 positions regarding available data science job vacancies, other prime locations like Hyderabad, Gujrat, Pune, Chennai, Delhi NCR are not much behind in the race.
We can say, at present, approximately 50% of job vacancies in these locations belong to the data science domain only, while all other non-data science domains job vacancies hold the rest 50%. And as already mentioned, the percentage will experience a great surge for the upcoming 4 to 5 years.
What is the current data science salary trend in India?
We have explored the trend of data science job availability across the data science field of India enough. But what’s about the salary trend? Is it worthy enough to switch to a data science career from the salary aspect?
Yes, of course. Even in the current job market, data science offers the most lucrative salary packages. So not only the MNCs but also the startups are ready to invest around 5 to 6 LPA for their entry-level data scientist position.
As per Glassdoor salary trends, a data scientist in India owns the scopes of earning 400K INR to 2000K INR per year, depending on the experience level. However, with moderate working experience, the average yearly salary becomes 1000K INR per year (refer to Figure 1).
However, the trends vary from location to location (figure 1)
Location-wise Salary Trends For Data Science Jobs in India [May 2021 update]
According to figure 2, the Greater Delhi area has become the highest paying region for data science, followed by Hyderabad and Pune, respectively.
Mumbai and Bengaluru, the top two locations with maximum data science job opportunities, are paying a bit low compared to Delhi and Hyderabad. But for an entry-level position, Bengaluru can be a better choice due to the greater degree of the available opportunity.
Mumbai has always been renowned for admiring technologically innovative minds with greater pay. On the other side, in the silicon valley of India, Bengaluru is famous as an Indian startup hub. No exception for data science and AI. That’s why these two locations are associated with the highest number of job opportunities.
Once you step into a data scientist position, then the salary will be no bar, and you can relocate as per available career growth opportunities.
For freshers and highly eligible data science talents, Noida can be the best option to start at. Because here, the minimum salary limit is the highest (4 lakh per year) among the other six listed locations, while others offer an average of 3.2 lakh per year.
Company-wise Salary Trends for Data Scientist in India [May 2021 Update]
While it comes to MNC, Google has always been the highest-paid organization, and there is no exception for data science. But as well all know how tough it is to get recruited at Google so, for the first step of your data science career shift, you should concentrate on other MNCs like Wipro, Cognizant, Deloitte, etc. Figure 3 shows the top 10 highly paying MNCs, with a hiring surge in various data science and data analyst positions across India.
The MNCs, Fortune 500, conglomerate, Forbes global 200, public, and even several startup companies are also extending the base pay range for proficient data science talent. According to LinkedIn insight (Figure 4), by the end of April 2021, Microsoft was the top MNC that showed an outstanding hiring surge in the data science domain with an average base pay package of 16,30,000 INR per year.
As already mentioned, startups are also not much behind. According to Ambition box insight,
Oyo, Zomato, Ola, Rapido, QuickRide, No brokers, etc., are hiring data engineers and scientists with average salaries in the 6 to 13 lakhs/year range.
Other companies with beneficial opportunities for a data scientist- May 2021 update
The secret of the data science job market in India
80% of data science aspirants research about the scopes and jobs in data science in the wrong manner. Hence about 60% of data science job opportunities in India remain ignored or hidden.
The word ‘data science career’’ has become so popular that most of us ignore the in-depth analysis of this emerging domain. In actual data science is a huge domain with multiple subdomains. So, job roles, openings, and pay scales also vary accordingly. While Machine Learning Engineer, AI engineer, Data analyst, Deep learning engineers are the most discussed positions, there are other positions that hold high demand in 2021. Below are the list of those designations with average base pay inside the parentheses and the number of current job openings within square brackets.
- Quantitative Analyst (13,70,000INR/year) [1588]
- Marketing Data Scientist/ Analyst (8,50,000 INR/year) [12413]
- Database Administrator (7,16,000 INR/year) [11,717]
- Business Intelligence analyst (6,00,000 INR/year) [3368]
- Enterprise Architect (20,30,000 INR/year) [2228]
- Statistician (5,00,000 INR/year) [884]
- Data Engineer (7,54,000 INR/year) [19066]
- AI/Machine Learning Engineer (7,40,000 INR/ year) [15288]
- Deep learning engineer (7,16,000 INR/ year) [198]
(Source: LinkedIn job search and Glassdoor salary insight)
Why 2021 is the best time for your data science career switch in India?
Due to a pandemic situation since last year, companies have to opt for huge layoffs to balance organizational financial conditions. But as the situation is getting better, businesses now need more workforce to maintain productivity as per market needs.
But the situation has changed a lot now. During the initial phase of 2020, while India was sent to mandatory lockdown and so the WFH, a hybrid workforce has earned great importance.
Management of such a hybrid workforce to maintain the fluency needs lots of automation and artificial intelligence. Hence the demand for automation, ML, and AI engineers demands will be on a steep hike throughout 2021–22.
Another reason for such increasing demand for data scientists and engineers is that companies are becoming more biased toward AI-powered tools and applications that will lower the requirement of investing in manpower resources after layoffs.
Industries that are getting empowered with AI, ML, and deep learning
In a word, every domain is becoming dependent on data science, especially on AI and automation.
Following are the industries that own a huge number of job opportunities for AI and ML engineers.
- Healthcare
- Marketing and sales
- BFSI
- E-commerce
- Entertainment
- Recreation and Travel
- Business Intelligence
- IT industries.
Below is a salary insight for the top five industries and fields of studies that are experiencing rapid advancement through data science.
You can see many possibilities are available but do you know India is suffering from a data science skill shortage?
Lack of end-to-end guidance, ineffective project experience, improper learning program selection, teaching and learning capabilities associated with online classes, ignorance to upskilling make the Indian data science talent incompetent toward the available job opportunities.
So, if you improve your learning strategy and make yourself adequately competitive, then 2021 is the best year to graph the most lucrative data science job.
What lies in the future of the data science job market?
As everything is becoming automated, so will be the existing manual process associated with data science tasks.
Already data analysis processes are dependent on a range of AI-powered tools and applications, so the most promising future career lies in the field of Machine learning and deep learning. So, while planning for a career switch in 2021, it’s better to consider the aspects of deep learning, complex machine learning, automation, Natural language processing, etc.
Now, what should be the next step to grab the emerging data science career opportunities?
As already told, lack of guidance is the key culprit of data science career transition failure, so first, you need to choose the right course for you.
You can join Learnbay’s master programs on AI and ML. However, your experience level matters a lot, so Learnbay offers a customized learning strategy and modules for aspirants with different working experience levels.
Here you will be able to carry out industry-specific real-time projects that make you stand out from the crowd and grab the best opportunities available in the market.
To know more about courses, fees, registration process, visit www.learnbay.co.
Read the blog ‘Why should you join Learnbay to learn data science if you are a working professional?’
