India Is In Demand For 1.5 Lakh Jobs In Data Science With Up To Rs 7 Lakh Salary

Dhir Acharya - Jan 30, 2020

Recent research shows that the huge demand for jobs in Data Science is because India currently doesn't have people that are skilled enough for the jobs.

Everybody wants a good job, a job that’s in high demand and well paid. However, it can be very difficult to choose such a career considering there are too many fields out there. But if you or your kids have developed an interest in computers, jobs in Data Science is a great option right now. According to recent research, this field, which is an increasingly popular field, is expected to create 1.5 lakh new jobs in 2020.

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The findings were from Great Learning, a startup helping students and professionals upskill with industry-grade programs of Data Science, AI, Cloud Computing, Machine Learning, and more. Great Learning carried out the research through a survey among working professionals in Data Science across many industries.

The survey found that 70% of job postings in this field are now for Data Scientists with a work experience of under five years. Besides, data science positions are paid the highest; those who have 0 to 2 years of work experience can get up to Rs 7 lakh per year while those with 15 or more years of work experience can get as much as Rs 50 lakh each year.

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Regarding demands for positions in Data Science, Banking Financial Services Insurance (BFSI) has the highest demand with 38%, the second-highest belongs to Energy with 13%. Healthcare and Pharma has the third-highest demand with 12%. The demand for Data Science jobs in e-commerce makes up 11%, while media at 7% and Retail is at 6%.

Due to a huge lack of skilled workers, the demand for positions in this field has increased in India. In another study, Great Learning found that there were about 97,000 job vacancies since no one was skilled enough to do the jobs.

The study also revealed the actual salary of jobs in Data Science. For example, FBSI is now offering an annual salary of Rs 13.56 lakh on average. Meanwhile, Healthcare and Manufacturing are offering Rs 11.8 lakh on average. IT is offering Rs 10.06 lakh per year while e-commerce offers Rs 10 lakh.