Data science is one of the most exciting and rapidly-developing industries these days. It offers a wide variety of career paths and some appealingly cushy salaries as well. On top of that, the demand for qualified, educated data scientists is only growing. Various estimates project that the need for industry talent numbers in the hundreds of thousands. While data science requires an analytical mind and a focused drive, the opportunities it affords are nearly endless. If you’re still undecided when it comes to your educational path, here are a few of the benefits to earning a data science degree.
Master’s candidates in data science hail from an incredibly varied number of backgrounds. Because data science is a fairly new academic offering, many institutions still haven’t developed undergraduate programs for the subject. That means graduate-level students come from programs such as computer science, natural science, mathematics, and engineering. Some students even have backgrounds in business and economics.
One of the biggest educational benefits of pursuing a data science degree is the vast amount of remote-learning programs available. Whether you’re interested in a career transition or are looking to translate your prior education into a specialized focus within the industry, an online degree program means you’re able to acquire your degree on your own time. Many of these offerings are self-paced, which means they’re ideal supplementary courses for current members of the workforce or for pursuing multiple degrees at once.
The need for top talent in the data science field is a bubble that isn’t bursting any time soon. Hiring managers are snatching up analysts at a rapid pace. The competition isn’t overly stiff either. Without supporting education in data science, it’s hard for other industry professionals to effectively transition into industry positions as they often lack the requisite qualifications to succeed.
The salaries don’t hurt either. Data scientists often see a base salary in the six-figure range. Data science managers often make the same amount as licensed medical professionals and doctors. As with most jobs, data science salaries are commensurate with experience, so the more time you spend in the industry, the larger the paycheck. That’s not even factoring in the average annual bonuses. Level one data science managers frequently receive bonuses eking past the $10,000 mark.
Quickly think to yourself about the how many companies leverage data and information for success. Technological advancements, storage capabilities, and computing power have all led to increases in the amount of data that is processed and interpreted each year. Commonly, if a business isn’t doing its utmost to obtain and interpret data to forecast trends, it isn’t going to last long.
Job opportunities in data science extend beyond IT roles and Silicon Valley corporations. From banking and finance to health care, retail, and beyond, almost every industry has a need for quality data scientists. Data engineers, scientists, and business intelligence specialists are all roles that are being created to fill the informational needs of modern businesses. Whether you’re crunching numbers to design a marketing campaign or helping inform decision-making in the boardroom, you’re an integral part of a company’s well-being.
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Data science is an unique specialty that’s likely to keep changing to fit business needs. If you have a knack for data analysis and can condense complex findings into actionable insights, it’s likely that a degree in data science would greatly improve your job prospects. Sound interesting? Find a degree program and get studying. The sooner you acquire a data science degree, the sooner you get out into the workforce.