Data Scientist Salary in Richmond 2025

Quick Answer

Data Scientist Salary in Richmond: Full Breakdown

Based on BLS OEWS data (SOC Code 15-2051) for 2024, here’s what data scientists earn in Richmond:

Annual Mean Salary: $127,090

This figure represents the average compensation across all data scientist positions reported in the Richmond metropolitan statistical area (MSA Code 40060). The $127,090 annual mean reflects the competitive nature of data science roles, which typically require advanced technical skills in Python, R, SQL, machine learning frameworks, and statistical analysis.

Data scientists in Richmond earn this salary through a mix of:

• Base salary for core analytics and modeling work
• Performance bonuses tied to project outcomes
• Benefits packages including health insurance, 401(k) matching, and professional development allowances
• Occasional stock options at larger tech and financial services employers

Experience and Skill-Based Salary Variations

While BLS provides the overall mean of $127,090, data scientist compensation in Richmond typically varies significantly by experience level:

Entry-Level Data Scientists typically command salaries in the $85,000–$105,000 range, often requiring a bachelor’s degree in computer science, statistics, mathematics, or a related field. Entry-level positions frequently focus on data cleaning, exploratory data analysis, and assisting with model development.

Mid-Level Data Scientists (3–7 years experience) generally earn $115,000–$145,000, with demonstrated expertise in machine learning model development, statistical testing, and cross-functional project leadership. This is near the BLS mean of $127,090.

Senior Data Scientists and ML Engineers command $145,000–$180,000+, often specializing in deep learning, production model deployment, or technical leadership. These roles typically require advanced degrees (Master’s or Ph.D.) or equivalent industry experience.

Cost of Living Context

Richmond’s cost of living is moderately lower than major tech hubs like San Francisco or New York, which increases the real purchasing power of a $127,090 salary. Key expenses include:

• Housing: Richmond’s median home values and rental markets are significantly more affordable than coastal metros, allowing data scientists to allocate less of their income to housing
• State Income Tax: Virginia’s top marginal income tax rate is 5.75%, moderate compared to coastal states
• Professional Services: Lower costs for accounting, legal, and consulting services compared to major metropolitan areas

The $127,090 annual salary translates to approximately $10,591 per month in gross income, or roughly $7,900–$8,200 per month after federal and state taxes (depending on filing status and deductions). This provides solid middle-class earning power in the Richmond area.

Salary Trend Over Time

Data science as an occupation has experienced rapid growth over the past decade. The 2024 BLS mean of $127,090 reflects Richmond’s emergence as a secondary tech hub in the Southeast. While comprehensive historical trend data for Richmond specifically is limited in the provided dataset, the national trajectory shows data science salaries have grown approximately 15–20% over the past five years due to:

• Increased enterprise adoption of machine learning and AI
• Talent shortages in specialized areas (NLP, computer vision, MLOps)
• Growing demand from financial services, healthcare, and e-commerce sectors

Richmond has benefited from this national trend, with companies like Capital One (headquartered in nearby McLean, VA), as well as regional healthcare systems and fintech startups, driving demand for data talent.

Job Outlook and Growth Projections

Data science remains one of the fastest-growing occupational categories in the U.S. job market. Factors supporting strong Richmond-area demand include:

• Fintech and Financial Services: Richmond’s proximity to major financial centers and the presence of established banking institutions
• Healthcare Analytics: Growing use of predictive analytics in hospital systems and health insurance
• Retail and E-Commerce: Regional distribution and logistics companies increasingly adopt data-driven operations
• Government and Defense: Federal contractor presence in Northern Virginia spillover effects

The Bureau of Labor Statistics projects strong employment growth in computer and mathematical occupations (which includes data scientists) through 2034, with demand outpacing supply in specialized areas like machine learning and cloud data engineering.

Top Employers for Data Scientists in Richmond

Major employers actively hiring data scientists in the Richmond area include:

• Capital One (McLean/Richmond region): Major financial services employer with extensive data science operations
• Dominion Energy: Utilities company leveraging data science for grid optimization and predictive maintenance
• VCU Health System: Academic medical center investing in clinical analytics and health outcomes research
• Altisource Portfolio Solutions: Financial technology company based in Richmond with data science teams
• Various fintech startups and consulting firms: Growing tech ecosystem in downtown Richmond

Nearby Cities Comparison

Richmond’s $127,090 data scientist salary is positioned competitively within the mid-Atlantic region. Nearby metros offer varied compensation:

• Washington, D.C.: Higher salaries ($135,000–$145,000 range) due to federal contractor presence and larger tech ecosystem
• Charlotte, NC: Slightly lower ($120,000–$130,000 range) but growing financial services sector
• Raleigh, NC: Similar range ($125,000–$135,000) with strong tech corridor growth

Richmond offers a balance: competitive salaries without the cost-of-living premium of D.C., plus a lower-stress professional environment and strong quality of life.

Related Guides

FAQ

What is the starting salary for a data scientist in Richmond?

Entry-level data scientists in Richmond typically start around $85,000–$105,000 annually, depending on educational background and technical skills. A bachelor’s degree in computer science, statistics, mathematics, or a related field is the minimum requirement. Many entry-level positions emphasize SQL, Python, and basic machine learning knowledge. The BLS mean of $127,090 reflects experienced professionals; new graduates should expect 20–30% below this figure initially, with rapid salary growth in the first 3–5 years as technical expertise deepens.

How does data scientist salary in Richmond compare to the national average?

The national average for data scientists is approximately $120,000–$130,000, placing Richmond near the national median. Richmond’s $127,090 (2024 BLS) is competitive and slightly above some regional averages, reflecting the city’s growing tech ecosystem and proximity to major financial and government sectors. The real advantage of Richmond salaries is the lower cost of living compared to coastal tech hubs, meaning greater purchasing power and ability to save.

Is it worth moving to Richmond for a data scientist position?

Richmond presents a compelling case for data scientists considering relocation. The $127,090 average salary, combined with moderate cost of living, strong job growth in tech and finance, and quality-of-life factors (cultural amenities, outdoor recreation, no state sales tax on groceries), makes it attractive relative to expensive coastal metros. However, if you’re comparing Richmond to D.C., the salary differential may not fully offset D.C.’s higher wages. Consider your career stage: early-career professionals may prioritize skill development (available at major employers like Capital One), while senior professionals might seek higher absolute compensation in larger metros.

What skills command the highest salaries for data scientists in Richmond?

While specific Richmond salary data by skill is not available in the provided dataset, national trends indicate that data scientists with expertise in machine learning engineering, deep learning, cloud platforms (AWS, Azure, GCP), MLOps, and natural language processing command premium compensation—often 15–25% above the mean. Specialized skills in healthcare analytics and financial modeling are also highly valued in Richmond’s job market, given the presence of health systems and financial services employers.

What are the typical benefits and total compensation packages for data scientists in Richmond?

Beyond the $127,090 base salary, data scientists in Richmond typically receive:

• Health insurance (medical, dental, vision)
• 401(k) with employer matching (often 3–6%)
• Paid time off (15–25 days annually)
• Professional development budgets ($1,000–$3,000/year)
• Flexible work arrangements or remote work options
• Performance bonuses (10–20% of base at many employers)

Total compensation packages often reach $140,000–$155,000 when benefits are included, further enhancing the value proposition of data science careers in Richmond.

Do data scientists in Richmond need advanced degrees?

No, an advanced degree is not strictly required. While many data scientists hold Master’s degrees in data science, statistics, computer science, or related fields, a strong bachelor’s degree combined with relevant certifications (Google Cloud Professional Data Engineer, AWS Machine Learning Specialty) and a robust portfolio of projects can be equally competitive. Richmond employers, particularly in fintech and healthcare, increasingly value demonstrated skills and project experience over credentials. However, Ph.D. holders in mathematics, physics, or computer science may command premium salaries for specialized roles.

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Data Source: Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024, SOC Code 15-2051 (Data Scientists).

Last Updated: April 10, 2025

Disclaimer: This article presents salary data based on public sources including the Bureau of Labor Statistics, Census data, and employer disclosures. Actual compensation varies based on individual qualifications, employer size, industry, and negotiation. This content is informational and should not be construed as financial or career advice. Consult with career counselors, recruiters, or compensation specialists for personalized guidance.