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Data Scientist Salary in Singapore: 2024 Market Overview
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24th Apr, 2024
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Are you good at analyzing data and making assumptions from it? Well, if the reply to the above question is affirmative, then you must consider Data science as one of your career choices. Moreover, as the market evolves globally, the requirement for data scientists is increasing significantly. When a company shifts its mode of operation, there are a lot of factors that they need to consider. Data scientists play a significant part in this because they explore and analyze the data, identify the patterns, and ultimately present their final observations to the stakeholders. So, the need for data scientists is rising in all the world's major countries. Singapore being a tech hub, offers lots of jobs to data scientists. Read this article to know about the data scientist salary in Singapore. You can boost your salary as a data scientist by improving your skills while taking Data Science courses. Let us explore more -
Who is a Data Scientist?
Before we jump straight into the salary and career aspects, let us first give you a brief introduction to who is a data scientist. We all know about analytical data experts who have been a valuable part of companies for ages. A data scientist is a newer and more advanced form of an analytical data expert. They specialize in mathematics and computer science, which gives them special skills to solve complex technical problems quickly.
Data scientists are responsible for many tasks. They are expected to:
- Understand the problem the company is trying to fix
- Getting their hands on the data set
- Processing the data and exploring for more information
- Identifying the various patterns in the data set by comparing it with previous case studies or similar references
- Analyzing the results thoroughly depending on the dataset
- Presenting the final results.
Being a data scientist is not an easy task, and thus, they are pretty well paid. However, the salary of a US-based data scientist would be different from a Singapore-based data scientist's salary due to various factors, which we will discuss in the following sections.
How Much Does a Data Scientist Make in Singapore?
The salary of a data scientist is not fixed throughout Singapore, and we can observe variations. But when speaking in general, we can categorize the PayScale into three categories:
- Average Annual Salary: According to various renowned websites, the average salary of a data scientist in Singapore is SGD 110,880.
- Lowest Annual Salary: As per reports, the lowest salary of a data scientist in Singapore is approximately SGD 77,400.
- Highest Annual Salary: The statistics shared by various websites show that the highest data scientist salary in Singapore can be around SGD 254,700 annually.
Data Scientist Salary Based on Years of Experience
There is a reason why a senior data scientist's salary in Singapore is more than a junior data scientist's salary in Singapore. As you garner years of experience, the salary also increases accordingly. So, let's take a sneak peek into how the salary varies based on years of experience.
- 0-2 years of experience: If you just completed your bachelor's and are looking for a fresh graduate data scientist salary in Singapore, you can expect to earn around SGD 88,240 annually.
- 2-5 years of experience: Once you garner the essential experience in the field, you can expect the salary to increase to about SGD 119,700.
- 5-10 years of experience: The average starting salary for a data scientist with 5-10 years of experience is SGD 172,200.
- 10-15 years of experience: Once you have more than 15 years of experience in this field, the salary increases significantly. For example, an average data scientist salary in Singapore with this experience is around SGD 208,600.
- 15-20 years of experience: If you are someone with more than 15 years of expertise in the field, then the average data scientist salary in Singapore is somewhere around SGD 221,500.
- 20+ years of experience: Once you have more than two decades of experience, you are a master of this field and lead teams. The lead data scientist's salary in Singapore is approximately SGD 239,000.
| Experience | Salary (Annually) (Source: PayScale) |
|---|---|
0-2 years | SGD 88,240 |
2-5 years | SGD 119,700 |
5-10 years | SGD 172,200 |
10-15 years | SGD 208,600 |
15-20 years | SGD 221,500 |
20+ years | SGD 239,000 |
Data Scientist Salary by Education Level in Singapore
Many job profiles in the industry might not require deep knowledge of the subject, but data science is not one of them. It is a highly specialized field where you analyze the data and predict probable outcomes based on your findings. It is vital to have some decent knowledge of statistics before making a move in the field of data science. This is why the salary increases with the increase in your level of education.
The data below show how the industry pays for someone with a bachelor's degree or master's degree or even a Ph.D. So, before you aspire to become a data scientist, ensure you have all the knowledge that determines the data scientist pay Singapore.
- Bachelor's Degree: In Singapore, if you want to join as a data scientist after completing your bachelor's, then you can expect the average salary for a data scientist in Singapore to be around SGD 109,340.
- Master's Degree: Once you get a Master's degree in a relevant field, you can expect the data science salary in Singapore to increase on an average to SGD 172,200.
- PhD: A person with a Ph.D. in this field is often looked up to. Therefore, you can expect the salary data scientist Singapore of a Ph.D. holder to be approximately SGD 228,000.
Top Paying Cities for Data Scientists in Singapore
The cities in Singapore that pay the highest salary to data scientists are:
| City Name | Average Base Pay per month |
|---|---|
Raffles | SGD 10,712 |
Marina Bay | SGD 9187 |
Bedok | SGD 7717 |
Yishun | SGD 7541 |
Singapore | SGD 7397 |
Clementi | SGD 6777 |
Outram | SGD 6340 |
Geylang | SGD 6126 |
Queenstown | SGD 5986 |
Top Paying Industries for Data scientist in Singapore
According to the data received from the Bureau of Labor Statistics, the industries that offer the highest salary for data scientists in Singapore are:
1. Aerospace data scientist
This is one of the highest-paying data scientist jobs, not just in Singapore but globally. So, if you have your graduation in aero science or a relevant field, then this is an excellent option for you. You can expect a great data science salary in Singapore as well.
2. Finance
The world revolved around managing finances. Whether you join a Fintech or any other company, the need for a financial data scientist is non-perishable.
3. Computer Systems Design
The world runs on computers in the 21st century. So, if you have a depth in computer science and are looking for job opportunities, do think about the data scientist profile. For example, in Singapore, data scientist salaries are high.
4. Technological Consulting
Any person belonging to the tech field can be eligible for a data scientist role in technological consulting. However, if you don't have enough skills, check out Data Science Online Courses to become an expert.
5. Scientific Research
A data scientist is expected to have an in-depth knowledge of mathematics and technology, so he is pretty well paid in the scientific research industry as well. You can also develop your technical skills by enrolling in the Data Science with Python course.
Government vs Private Sector Salaries in Singapore
It is often a common question among the masses whether government employees earn more than those working in the Private sector. As per the latest reports, the people working in the government sector in Singapore earn at least 5% more than those working in the private sector.
However, some top companies pay their data scientists pretty handsomely. They are:
| Company Name | Average Salary Per month |
|---|---|
Grab | SGD 7500 |
Lynx Analytics | SGD 6117 |
Tookitaki | SGD 12,257 |
OCBC Bank | SGD 7480 |
DBS Bank | SGD 8713 |
Data Scientist Average Pay Rise in Singapore
How much pay rise you will receive depends on the industry you are working for. Most of the leading industries that need to implement the data for their day-to-day business have a higher pay rise for Data Scientists in Singapore. We can categorize the industries are follows:
- The travel industry offers the highest annual pay rise of 8%
- Banking offers a 7% annual pay rise.
- The construction industry offers an annual pay rise of 6%
- The energy sector offers a 5% annual rise.
- The education sector rewards an annual 4% rise.
- Information technology offers approximately a 3% rise.
- Healthcare offers a 1% rise annually.
Final Thoughts
After reading here and learning all about the data scientist in Singapore salary, we are sure you have already made up your mind about your career choice. But it is not just the Singapore data scientist salary that makes the job attractive. It is a profile where you are constantly intellectually challenged, but you must analyze it to find a proper solution.
A data scientist is an excellent decision-maker and is always on the lookout for accepting challenges. However, if you believe you do not have the necessary skills needed to become a data scientist, enroll in the course called Data Science with Python in Singapore to learn them.
Since data scientist uses various parameters from the dataset provided by the companies, they can better predict the pattern and hence the outcome of a particular action. In this way, a data scientist helps reduce the risks by implementing data-driven methodologies in business.
Frequently Asked Questions (FAQs)
1. Is a data scientist internship a good way to get a job in Singapore?
If you can do an internship in the field of your choice in the data scientist profile, you are more likely to get hired.
2. What is considered to be a good Data Scientist salary in Singapore?
The data scientist average salary in Singapore ranges from approximately SGD 77,400 for a junior analyst to SGD 254,700 for any Singapore senior data scientist salary. Any value within this range is considered to be a good pay scale.
3. Who gets paid more, Data Scientist or Data Analyst in Singapore?
Due to the requirement of some specialized technical skills for a data analyst, he gets paid more than a data scientist.
4. Do Data Scientists make more than engineers in Singapore?
In some cases, people from an engineering background become data scientists. So, in that case, the Singapore salary data scientist is more than that of an engineer.
5. What month do Data Scientists get appraisals in Singapore?
Like every other part of the world, most of the appraisals in Singapore happen at the beginning of the new financial year, which is April.
6. Is Data Scientist a high-paying job in Singapore?
A data scientist is a very high-paying job in Singapore, and you can easily understand that by the various reports talking about the principal data scientist salary in Singapore.
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