Austin is one of the fastest-growing tech hubs in the U.S. That’s due in part to tech giants like Oracle, Google and Tesla, relocating or opening offices here. Plus, plenty of established tech companies like Dell and IBM, as well as numerous start-ups and SME tech businesses, have long had a presence in Texas's capital city.  

That means data scientists in Austin are welcomed by plenty of job opportunities. And with companies like Tesla, venture capital firm 8VC, and Apple opening a new North Austin campus, the demand for skilled data scientists will continue to grow.

In Austin, data science salaries are competitive. In fact, according to Hired’s 2020 State of Salaries, it’s one of the highest-paying cities in the U.S. for tech jobs, behind only the Bay Area and New York. Plus, an added benefit: Austin’s relatively low cost of living, makes those already-high salaries go even further.

Here’s a look at the data science market in Austin, average salaries for data scientists, as well as Austin’s cost of living.

How Much Do Data Scientists Make in Austin, TX?

In Austin, data scientists salaries rival many other tech hubs, like New York and the San Francisco Bay Area.  On average, base salaries for data scientists in Austin are roughly $114,500, with additional average cash compensation of $8,500 per year.

  • Average base salary: $114,500
  • Average total compensation: $123,000

Cost of Living in Austin

Source: https://www.numbeo.com/cost-of-living/

One reason many consider relocating to Austin: The relative low cost of living. Average rent in Austin is $1,539, median home prices of $600,000 and consumer prices with rent included for Austin are 43% lower than San Francisco.

In other words, you could maintain the same standard of living in Austin at roughly $4850 that you could expect in San Francisco at $8,500.  Therefore, tech worker’s salaries go much further.

Adjusted salaries for Austin increase to $224,000, compared to the San Francisco Bay Area.

How Do Data Science Salaries Compare by Seniority?

Source: https://www.builtinaustin.com/salaries/data-analytics/data-scientist/austin

For tech workers at various stages of their careers, Austin out-performs the national average. A junior data scientist in Austin, for example, earns $93,000 per year, with additional cash compensation of $2,220. Total compensation is $95,220 per year.

Similarly, a senior data scientist earns a base salary of $128,000 with additional cash compensation of $7,500. Total compensation is roughly $135,500 per year.

Austin Tech Salaries on the Rise

Over the last five years, tech salaries have risen significantly in Austin. In 2020, salaries for tech positions in Austin grew by 10% year-over-year, according to survey data from Hired.

In addition, average tech salaries in Austin grew from $108,000 in 2015 to $137,000 in 2019 – a 26% increase.

The Data Science Market in Austin

Thanks to its fast-growing tech sector, Austin has earned every bit of its nickname “Silicon Hills.” Here, you’ll find several FAANG offices, including Facebook, Apple and Google, as well as long-established tech giants like IBM, Dell and Cisco. Top tech companies in Austin include:

  • Facebook – Since arriving in Austin in 2010, with just seven employees, Facebook has rapidly grown its presence in the capital city. As of 2021, Facebook has 2,000 employees in Austin across 100 teams.
  • Apple – Apple has operated in Austin for more than 25 years. In 2019, the company broke ground on a $1 billion campus – set to open soon – with space for 5,000 employees.
  • Oracle – Since opening its campus of the future in Austin, Oracle has rapidly scaled hiring, with plans for up to 10,000 employees.
  • Dell – Based in the Austin suburb of Round Rock, Dell is one of the largest employers in the Austin metro. Currently 13,000 employees work out of its headquarters.
  • Tesla – Tesla has rapidly scaled hiring in the Austin Metro, with some 10,000 jobs needing to be filled through 2022.
  • Google – Google has plans to expand its Austin presence. Currently, the company has about 800 employees in the area, with plans for $50 million in investments in office space.
  • Cisco – Cisco’s Austin office employees 800.
  • Silicon Labs – The chip and software company Silicon Labs is headquartered in Austin.
  • IBM – IBM has been in Austin since the 1960s, and is one of the largest tech employees in the metro. Currently, there are about 6,000 employees on the IBM Austin campus.