What are the salaries of data scientists in the UK?
Big data is expanding rapidly. Businesses and organisations have access to an increasing amount of data, with analysts predicting that by 2025, the globe would be producing 463 exabytes of data per day. This implies that the already saturated and complex data landscape will grow even more so. Because of this, there is a huge demand for knowledgeable data scientists who can assist businesses in processing and gaining value from complex, unstructured data.
However, the significance of data science has long been understood. Nearly ten years ago, Thomas H. Davenport and DJ Patil promoted this interdisciplinary subject as “The Sexiest Job of the 21st Century,” and no, they weren’t lying. Over the past ten years, the quantity of data science job listings has skyrocketed. The average number of data scientists hired in one organisation increased from 28 to 50 between 2020 and 2021, a 78.6% increase, according to a Statista survey of 400 businesses globally.
Data scientists make approximately GBP 47,000 annually.
Most of the time, salaries are neither transparent nor openly addressed, and the public has few trustworthy resources at their disposal. Glassdoor provides self-reported compensation data by area, which offers some insights into the pay scale of the British data science employment market.
British data analysts typically earn roughly £30,000 annually. According to figures from Glassdoor from April 2022, data scientists in the UK make an average salary of about GBP 47,000 per year. Senior positions include senior data scientists and lead data scientists reporting annual wages beyond GBP 64,000, although these positions frequently call for years of data science experience as well as good management abilities.
The stated income in data science is noticeably greater than the median yearly pay of university graduates in the UK: The average British graduate makes about GBP 29,000 per year, according to Glassdoor.
US data scientists typically earn significantly more money.
According to the US Bureau of Labor Statistics, American data scientists can expect to earn between USD 59,430 (approximately GBP 47,900) and USD 167,040 (approximately GBP 134,500) per year. It’s critical to note that some seasoned data scientists at major US IT organisations may significantly outperform this range.
As you can see, the median salary for data scientists in the US is considerably greater than that in the UK. The average American data scientist makes approximately 72.98% more than their average British counterpart. Although the cost of living in the UK is often cheaper than in the US, this does not make up for the significant wage gap.
The United Kingdom is lagging behind other European countries.
The UK is behind Germany, Norway, and Switzerland in terms of the demand for data scientists in Europe. The UK pays its data scientists more than their counterparts in France and Ireland, which is a bonus. The UK now ranks in the middle of the list of Europe’s greatest nations for data scientists.
