Data Scientist Salary Ranges in the United Kingdom (and London) in 2024
The role of a Data Scientist has become increasingly vital across various industries, and understanding the salary range for this profession in the United Kingdom can help aspiring data scientists and employers alike. Here's an in-depth look at the salary spectrum and the day-to-day responsibilities of a Data Scientist in the UK and in London.
Salary for a Data Scientist in the UK and in London
The salary range for Data Scientists in the United Kingdom varies significantly based on factors such as experience, location, and industry. Below are the key figures according to Atlas’ Global Salary Calculator.
Lowest Rate (GBP): £28,000 / year
Median Rate (GBP): £41,330 / year
Highest Rate (GBP): £62,000 / year
The salary range of Data Scientist in London can be calculated using a cost of living index to obtain an approximate value. London is around 40% more expensive than the rest of the UK (rent included), so the Data Scientist Salary would be:
Lowest Rate (GBP): £39,200 / year
Median Rate (GBP): £57,900 / year
Highest Rate (GBP): £86,800 / year
These figures highlight the earning potential in this rapidly growing field.
What are the Day-to-Day Tasks of a Data Scientist
Data Scientists are tasked with a variety of responsibilities that revolve around gathering, analysing, and utilizing data to drive business decisions. Typical daily tasks include:
Data Collection: Gathering data from diverse sources to create models and test hypotheses.
Data Analysis: Analysing data patterns to derive insights and make policy recommendations.
System Automation: Setting up automated data systems to enhance business processes.
Security and Quality: Ensuring that information management adheres to data security and quality standards.
Data Scientists need to develop solutions that are tailored to meet the unique needs of their organisation. Their role extends across various applications such as predictive analytics, machine learning, data visualisation, recommendation systems, fraud detection, sentiment analysis, and decision-making in industries like healthcare, finance, marketing, and technology.
Most Common Industry Applications
Banks: Data Scientists in the banking sector utilise predictive models built on historical data to assess creditworthiness, detect unusual transactions, and identify potential risks. This proactive approach helps banks minimise losses and improve their decision-making processes.
Consumer products: In retail industry, data analytics is used to study consumer behaviour, boost operational efficiency, and optimise supply chains. It provides essential insights into competitive analysis and market trends.
The role of a Data Scientist in the UK as well as in London is crucial in driving business innovation and efficiency. With a broad salary range and a variety of applications across different sectors, data science offers a promising career path for those with the right mix of skills and expertise. Understanding the salary dynamics and the diverse responsibilities of a Data Scientist can help professionals and businesses alike navigate this field. Use our Atlas Salary Calculator to gain key valuable insights across different fields and sectors.
Disclaimer: Presented gross salary ranges (before taxes and deductions) reflect all employment types and do not include bonuses, benefits or commissions. Salary estimates on our site are for general guidance only and may not reflect current market conditions. Actual salaries can vary based on location, role requirements, and market trends. Use these figures as rough estimates and consult additional resources for precise salary information. Your use of this tool and any reliance made on the information is at your own risk.