According to Indiana University’s School of Informatics and Computing, data science is a swiftly expanding, high-paying field. An increasing number of employment opportunities and high-end salaries are becoming available to skilled data scientists amid the national shortage of acutely analytic professionals needed to interpret and model big data.
- Syracuse University - M.S. in Applied Data Science: GRE Waivers available
- SMU - Master of Science in Data Science - Bachelor's Degree Required.
- UC Berkeley - Master of Information and Data Science Online - Bachelor's Degree Required.
- Syracuse University - Master of Information Management Online
- Maryville University - Master of Science in Business Data Analytics
- Villanova Business - Master's in Analytics and Study Data Mining, Predictive Analytics Online
In 2014, the United States Department of Labor reported that occupations in the field of data science in Indiana, namely computer and information research scientists, were among the state’s top 50 highest paying.
- The Southern Indiana nonmetropolitan area held the second highest employment level of data scientists in operations research of all other nonmetropolitan areas in the country. At that time, there were 130 operations research data scientists working here.
- The South Bend-Mishawaka, IN-MI district was among the top ten highest paying metropolitan areas for financial data scientists in the country. Data scientists in finance practicing here achieved an average annual salary of $103,440.
Starting Salary Ranges for Data Scientist in Indiana’s Major Cities
In 2015, the Indiana Economic Development Corporation (IEDC) forged incentive agreements with seventeen different software, agriculture, construction, media, IT, and pharmaceutical companies throughout the state. The IEDC established these investment-based incentive deals in hopes of generating another 650 new jobs within the abovementioned industries by 2025. If successful, these new jobs will pay an average annual salary of $82,900. While this endeavor will certainly create more IT jobs, data scientists are already offered starting salaries within the range of $74,000-$106,000.
In that same year, the Indianapolis Star reported that Indiana was ranked #4 in the United States for it concentration of tech-related jobs. These jobs employed roughly 344,000 workers or 11.4% of the state’s employment pool.
Most data scientists in Indiana find themselves looking for jobs in the state’s primary tech hub, the Indianapolis metro area. According to TechPoint, an Indiana-based nonprofit organization devoted to fast-tracking the state’s tech community, Indianapolis continually receives national rankings as a tech powerhouse. Not only are Fortune 500 companies like Eli Lilly and Company, Anthem Inc., and Simon Property Group located here, but the city has also been called:
- The #2 City Secretly Great for tech Grads
- The #5 Best City for Women in Tech
- The #7 Next Top Cities for Tech Jobs
- The #8 Best City to Start a New Career
- The #9 City Creating the Most Technology Jobs
In 2016, Robert Half Technology released salary calculations indicating that data scientists entering the workforce in the Indianapolis metro area were awarded higher starting salaries than any other major metro region in the state. Robert Half Technology is a popular IT staffing agency that uses its job placement capabilities to ascertain starting salary data for data scientists. The following salary sets are not adjusted to include bonus or other incentives.
- Indianapolis: $105,000-$148,000
- Anderson: $74,000-$105,000
- Columbus: $104,000-$147,000
- Middletown: $106,000-$150,000
- Bloomington: $81,000-$115,000
Fort Wayne Region
- Fort Wayne: $89,000-$126,000
- Goshen: $87,000-$123,000
- Muncie: $80,000-$112,000
- Elkhart: $87,000-$123,000
South Bend Region
- South Bend: $86,000-$121,000
- Mishawaka: $86,000-$121,000
- Evansville: $88,000-$123,000
- Terre Haute: $80,000-$112,000
- Gary: $80,000-$113,000
- Michigan City: $80,000-$113,000
- La Porte: $80,000-$113,000
Salary Synopsis for Data Scientists in Indiana
In 2014, the United States Department of Labor found that data science professionals in Indiana earned an average annual salary of anywhere between $100,000 and $150,000 depending upon their job title and industry:
Computer and Information Research Scientists
- Mean: $100,370
- Median: $96,600
- 75th Percentile: $117,500
- 90th Percentile: $152,600
- Mean: $71,950
- Median: $70,700
- 75th Percentile: $89,800
- 90th Percentile: $106,600
- Mean: $75,720
- Median: $63,900
- 75th Percentile: $86,000
- 90th Percentile: $114,000
Healthcare and Public Health
- Mean: $71,400
- Median: $68,300
- 75th Percentile: $77,100
- 90th Percentile: $101,000
Data Scientists in Operations Research in Indiana’s Major Regions
According to salary data published by the US Bureau of Labor Statistics in 2014, the Gary metropolitan area was the top paying location for data scientists in operations research statewide:
- Bloomington – $88,160
- Elkhart-Goshen – $101,600
- Evansville – $99,640
- Fort Wayne – 104,600
- Gary IN Metropolitan Division – $144,400
- Indianapolis-Carmel – $108,040
- Southern Indiana nonmetropolitan area – $110,840
Salaries for Statistical Modeling Professionals in Indiana
Indianapolis is home to fast-paced data modeling companies like Perceivant, which uses big data to help local universities, businesses, government entities, and healthcare providers develop more efficient and more cost-effective practices. In addition, this major city also employs roughly 65% of data scientists in statistical modeling in the state. According to the United States Department of Labor, statistical modeling specialists working in the Indianapolis-Carmel area earned the following in 2014:
- Indianapolis-Carmel – $84,720
The US Department of Labor, Bureau of Labor Statistics information shown here reflects salary data for broad occupational classifications that include data scientists. These estimates are expressed as 90th percentile averages to reflect the fact that data scientists are recognized as the top earners within each classification.