Data Scientist Salary in Australia in 2024: Scope, Prospects & Top Employers

Are you a Data Scientist by profession? Do you aspire to be the next DJ Patil? Have you ever wondered the tranformation data science has been creating around the globe?

Well, we are sure that you have joined us on an amazing ride to delve into the data scientist salary in Australia, it’s prospects, scope, earning potential, top employers, etc. Get ready for a highly enlightening journey!

Why Become Data Scientists in Australia?

The scope of data scientists in Australia in 2024 is quite promising, reflecting the growing importance of data-driven decision-making across various industries. Here are some key points highlighting the scope and benefits of being a data scientist in Australia.

• High Demand: There is a significant demand for data scientists in Australia at 36% of the total employment rate, driven by the need for organizations to leverage data for insights, innovation, and competitive advantage. Many sectors, including finance, healthcare, e-commerce, and government, are actively hiring data scientists.
• Government Initiatives: The Australian government has recognized the importance of data science and analytics in driving economic growth and innovation. Initiatives (open data initiative, australia data strategy, etc) and investments in data-related projects have further boosted the demand for data scientists.
• Diverse Industries: Data scientists are not limited to a specific industry in Australia rather can explore opportunities in a wide range of sectors, like banking and finance for risk analysis, healthcare for patient care optimization, retail for market analysis, and agriculture for precision farming, among others.

• Salary Estimation: According to a survey conducted by the Institute of Analytics Professionals of Australia (IAPA), individuals who are new to the field of data science can potentially earn up to A$30,000 annually.

In-Demand Skills Required for a Data Scientist in Australia

As the demand for data science employment in Australia grows, businesses are searching for applicants with diverse abilities who can keep up with the rapidly changing profession. Here are in-demand skills for landing a top-tier data science job in Australia:

How to Become a Data Scientist in Australia?

To gain eligibility to become a Data Scientist in Australia would typically require you to have both formal education and practical experience within the industry. So here is a suggested path:

Step 1: Obtain a bachelor's degree in a related field, such as computer science, IT, mathematics, or statistics, which typically entails three years of full-time study.

Step 2: Enhance your expertise by pursuing a postgraduate degree in data science, like a Graduate Diploma of Data Science or a Master of Data Science. Alternatively, consider enrolling in a bootcamp or immersive program tailored to data science.

Step 3: Seek out internship opportunities while studying to cultivate both technical and soft skills, establish a portfolio, and expand your professional connections.

Step 4: Begin your career in an entry-level position centered on data, such as a Data Analyst or Business Analyst role.

Average Salary Of Data Scientist in Australia

In Australia, the role of a Data Scientist offers a diverse range of career opportunities. You can explore various sought-after positions within this field, each with its unique set of challenges and responsibilities.

Data Scientists jobs in Australia salary not just offers a fulfilling career but also the financial rewards that reflect the high demand for their expertise in leveraging data for valuable insights and decision-making across industries. Here is an average salary of Data Scientist in Australia roles (as per job roles).

• Entry-Level Data Scientist Salary in Australia

In Australia, entry-level data scientists, commonly referred to as "freshers," can expect to begin their careers with an average Australia Data Scientist salary in entry level is approximately $74,000 - $113,674.

As a fresher in this role, individuals can anticipate the opportunity to gain valuable experience and contribute to data-driven initiatives while enjoying a relatively attractive income to start their professional journey in data science.

• Salary in Australia for an Experienced Data Scientist

For experienced data scientists in various industries and sectors, the salary can substantially increase to reach as high as $95,000 - $151,078 per year in Australia. This higher salary range reflects the recognition and demand for seasoned professionals who have honed their data analysis and machine learning skills over the years.

Experienced data scientists are often responsible for tackling complex data challenges, driving innovation, and providing valuable insights that impact strategic decision-making within their organizations. Their significant earning potential is a testament to their expertise and the crucial role they play in leveraging data for business success and innovation.

• Hourly wages for Data Scientists (per hour) in Australia

The data scientist salary in Australia per hour wage begins at a rate of $58.33 - $61.31 per hour. This hourly wage reflects the competitive compensation offered to professionals in this field, and it highlights the demand for data science expertise across various industries in the country.

Data scientists play a pivotal role in extracting valuable insights from data, which can inform strategic decisions and drive innovation within organizations.

Also Read: “All You Need To Know About Job Sponsor Visa Australia”

Top 5 Cities for Highest Data Science Salaries in Australia

Now let us explore what is the expected data science jobs in Australia salary in the top 5 destinations for data science professionals in Australia.

Also Read: Top 10 Colleges for Master of Data Science in Australia

Data Scientist Salary Melbourne

The average salary for a Data Scientist in Melbourne, Australia, typically varies based on factors such as experience, education, industry, and company size.

• Data Scientist: AUD 112,564 - AUD 122,500
• Senior Data Scientist: AUD 150,142 - AUD 155,750
• Lead Data Scientist: AUD 172,446 - AUD 177,000

Data Scientist Salary Sydney

The average Data Scientist Sydney salary in Australia, typically varies based on factors such as experience, education, industry, and company size.

• Data Scientist: AUD 117,408 - AUD 130,000
• Senior Data Scientist: AUD 146,085 - AUD 160,000
• Lead Data Scientist: AUD 159,417 - AUD 260,000

Data Scientist Salary Adelaide

The average salary for a Data Scientist in Adelaide, Australia, typically vary based on factors such as experience, education, industry, and company size.

• Data Scientist: AUD 83,000 - AUD 120,000
• Senior Data Scientist: AUD 116,000 - AUD 130,659
• Lead Data Scientist: AUD 151,000 - AUD 160,000

Data Scientist Salary Brisbane

The average salary for a Data Scientist in Adelaide, Australia, typically vary based on factors such as experience, education, industry, and company size.

• Data Scientist: AUD 113,000 - AUD 117,661
• Senior Data Scientist: AUD 122,982 - AUD 139,000
• Lead Data Scientist: AUD 132,942 - AUD 141,200

Data Scientist Salary Perth

The average salary for a Data Scientist in Adelaide, Australia, typically vary based on factors such as experience, education, industry, and company size.

• Data Scientist: AUD 115,127 - AUD 118,380
• Senior Data Scientist: AUD 119,001 - AUD 151,000
• Lead Data Scientist: AUD 153,901 - AUD 175,000

Top 10 Companies that Hire Data Scientists in Australia

In the pursuit of providing exceptional career opportunities for data scientists, numerous renowned companies extend enticing job prospects accompanied by competitive compensation packages.

The top 10 companies hiring Data Scientists in Australia are:

1. Microsoft
2. Amazon
3. EY
4. Google (Alphabet)
5. VMware
6. Walmart
7. JP Morgan Chase & CO
8. PwC
9. Splunk
10. Numerator

Cost of Living in Australia

For data scientists immigrating to Australia, the cost of accommodation and living expenses may appear significantly higher compared to their home country, such as India.

To provide a clearer understanding, below is a breakdown of the average cost of living for data scientist in Australia.

The average cost of living for data scientists in Australia starts from AUD 37,520 per year. This information helps prospective immigrants plan their finances and make informed decisions regarding their relocation to Australia, where the cost of living is relatively higher than in some other countries.

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Useful Links: For Further Reads

• Which Country is Best For MS in Data Science
• Australia PR Age Limit.
• Data Analyst Salary in Australia: Scope, Skills, Requirements, and More
• How to Draft an Exceptional Data Science SOP? (Includes Samples for Guidance)