How Many Data Scientists Are Making $1 Million?

An illustration of a man standing on gold coins

Dice recently brought up the question: Are there data scientists that should be making $1 million?

In a recent article, they referenced a panel at the AI and Data Science and Trading Conference in New York. “The people who hire machine learning and AI-focused data scientists don’t agree. Million-dollar paydays are indeed attainable, they say. The only problem is that the vast majority of masters and PhD-level engineers who work at hedge funds and on investing teams tend not to have the required skillset.

However, compensation for those data scientists who develop the “holy grail” of technical skills, investment knowledge and the ability to communicate with stakeholders “has ballooned over $1 million” annually, Pook said. On the other side of the coin, those who just meet the table stakes of a technical skillset and a master’s degree are taking home pay packages one-fifth that size: usually between $150k-$200k, he added.”