Median salary: $115K (Data Scientist) vs $88K (Financial Analyst). Salary ranges overlap between 75K–180K and 55K–140K. The take-home difference depends on state taxes, cost of living, and where in the salary range you fall.
At the national median, Data Scientists earn $115K and Financial Analysts earn $88K. After federal taxes and FICA (calculated without state tax to isolate the salary effect), Data Scientists take home $89,678 vs $70,683 for Financial Analysts.
The $27K salary advantage for Data Scientists doesn’t translate dollar-for-dollar to take-home. Because of progressive federal tax brackets, the Data Scientist’s higher salary is taxed at a higher marginal rate. Of the $27K gross difference, only $18,995 reaches the Data Scientist’s pocket — the rest goes to taxes.
Data Scientists face an effective tax rate of 22.0% at median, while Financial Analysts pay 19.7%. The higher rate for Data Scientists reflects more income being pushed into higher federal brackets.
The best states differ for each profession because salary adjustments vary by state cost index and interact differently with tax brackets. A state that’s great for a $115K earner may not be optimal for a $88K earner.
All 50 states showing estimated salary and take-home for both professions. Sorted by which states give Data Scientists the largest take-home advantage over Financial Analysts.
| State | Data Scientist Salary | Data Scientist Take-Home | Financial Analyst Salary | Financial Analyst Take-Home | Difference | Higher |
|---|---|---|---|---|---|---|
| Hawaii | $221K | $148,424 | $169K | $114,654 | +$33,770 | Data Scientist |
| Alaska | $146K | $111,017 | $112K | $87,567 | +$23,450 | Data Scientist |
| California | $163K | $108,545 | $125K | $85,857 | +$22,688 | Data Scientist |
| Washington | $127K | $98,031 | $97K | $77,015 | +$21,016 | Data Scientist |
| Massachusetts | $136K | $97,382 | $104K | $76,739 | +$20,643 | Data Scientist |
| New York | $144K | $97,288 | $110K | $76,717 | +$20,571 | Data Scientist |
| New Hampshire | $124K | $95,980 | $95K | $75,608 | +$20,373 | Data Scientist |
| Connecticut | $128K | $92,898 | $98K | $73,265 | +$19,633 | Data Scientist |
| New Jersey | $132K | $92,225 | $101K | $72,771 | +$19,453 | Data Scientist |
| Maryland | $129K | $92,641 | $99K | $73,236 | +$19,405 | Data Scientist |
| Rhode Island | $121K | $89,187 | $92K | $69,915 | +$19,272 | Data Scientist |
| Colorado | $121K | $88,575 | $92K | $69,449 | +$19,126 | Data Scientist |
| Florida | $115K | $89,678 | $88K | $70,683 | +$18,995 | Data Scientist |
| Nevada | $116K | $90,381 | $89K | $71,387 | +$18,995 | Data Scientist |
| Vermont | $121K | $87,017 | $92K | $68,265 | +$18,752 | Data Scientist |
| Oregon | $127K | $87,953 | $97K | $69,318 | +$18,636 | Data Scientist |
| Arizona | $112K | $84,767 | $85K | $66,448 | +$18,320 | Data Scientist |
| Montana | $112K | $83,454 | $85K | $65,451 | +$18,003 | Data Scientist |
| Virginia | $118K | $87,378 | $91K | $69,392 | +$17,985 | Data Scientist |
| Pennsylvania | $113K | $83,106 | $86K | $65,346 | +$17,761 | Data Scientist |
| Maine | $113K | $83,019 | $86K | $65,279 | +$17,740 | Data Scientist |
| Utah | $114K | $83,673 | $87K | $65,934 | +$17,739 | Data Scientist |
| South Dakota | $106K | $83,346 | $81K | $65,759 | +$17,588 | Data Scientist |
| Tennessee | $104K | $81,939 | $79K | $64,352 | +$17,588 | Data Scientist |
| Texas | $107K | $84,050 | $82K | $66,462 | +$17,588 | Data Scientist |
| Wyoming | $108K | $84,753 | $83K | $67,166 | +$17,588 | Data Scientist |
| Delaware | $117K | $84,310 | $90K | $66,879 | +$17,431 | Data Scientist |
| North Dakota | $106K | $82,002 | $81K | $64,732 | +$17,271 | Data Scientist |
| Minnesota | $114K | $81,675 | $87K | $64,409 | +$17,266 | Data Scientist |
| Louisiana | $105K | $79,742 | $80K | $62,845 | +$16,897 | Data Scientist |
| Nebraska | $105K | $79,537 | $80K | $62,689 | +$16,848 | Data Scientist |
| Kansas | $104K | $78,086 | $79K | $61,425 | +$16,661 | Data Scientist |
| New Mexico | $105K | $78,616 | $80K | $61,987 | +$16,629 | Data Scientist |
| North Carolina | $109K | $81,107 | $84K | $64,517 | +$16,590 | Data Scientist |
| South Carolina | $106K | $78,936 | $81K | $62,389 | +$16,547 | Data Scientist |
| Ohio | $104K | $77,519 | $79K | $60,994 | +$16,525 | Data Scientist |
| Indiana | $104K | $77,311 | $79K | $60,836 | +$16,475 | Data Scientist |
| Illinois | $107K | $78,753 | $82K | $62,403 | +$16,350 | Data Scientist |
| Wisconsin | $107K | $78,729 | $82K | $62,385 | +$16,344 | Data Scientist |
| Kentucky | $104K | $76,739 | $79K | $60,402 | +$16,338 | Data Scientist |
| Georgia | $107K | $78,496 | $82K | $62,206 | +$16,290 | Data Scientist |
| Idaho | $109K | $79,680 | $84K | $63,417 | +$16,263 | Data Scientist |
| Michigan | $105K | $76,605 | $80K | $60,455 | +$16,150 | Data Scientist |
| Iowa | $102K | $76,656 | $78K | $60,684 | +$15,972 | Data Scientist |
| Missouri | $102K | $75,820 | $78K | $60,044 | +$15,775 | Data Scientist |
| Alabama | $101K | $75,031 | $77K | $59,287 | +$15,744 | Data Scientist |
| Arkansas | $99K | $75,912 | $76K | $60,314 | +$15,597 | Data Scientist |
| Oklahoma | $100K | $76,038 | $77K | $60,567 | +$15,470 | Data Scientist |
| Mississippi | $95K | $72,520 | $73K | $57,758 | +$14,762 | Data Scientist |
| West Virginia | $95K | $72,446 | $73K | $57,701 | +$14,745 | Data Scientist |
Job Security & Demand: Tech roles tend to offer higher base salaries but with more volatility — layoffs can happen quickly even at profitable companies. Business roles provide more stability with slower but steadier career progression. Both Data Scientists and Financial Analysts are in consistent demand, but the nature of that demand differs: tech skills can become obsolete faster, while business fundamentals remain relevant longer.
Growth & Advancement: Earning potential in tech often exceeds business roles at the individual contributor level, with senior engineers and data scientists earning $200K–$400K+ at top companies. Business professionals typically need to move into management to reach similar compensation. However, business roles offer a broader path to executive leadership and the compensation that comes with it.
Work-Life Balance & Lifestyle: Remote work capability is a key differentiator for tax planning. Tech roles overwhelmingly support remote work, enabling you to live in a no-tax state while earning a coastal salary. Business roles increasingly offer hybrid arrangements but may require more in-office presence for relationship building and management responsibilities.