How Lucrative is a Career in Data Science?

As the use of technology is growing its impact all over the world, the industries are evaluating ways to become more tech-savvy and dynamic to celebrate the modern trends and understand more about the science behind different data systems. 

In the present world, the field of data sciences and management is getting more popularity among professionals and businesses. Since businesses need to understand the driving forces behind the success of their products and services in the market, they tend to compete with other businesses by applying modern data technologies and data systems to analyze different situations and come up with measurable solutions.

For job seekers and data professionals, the field of data science is quite attractive and lucrative in terms of scope and money. Several companies, including financial sectors, software houses, and banks, require data scientists to assist them with different data systems and to grow their businesses.

Therefore, the demand for data scientists is rapidly increasing, while data science is becoming an essential part that can enable businesses to function even better and allow employees to work faster in a dynamic environment.

For this purpose, we have come up with a blog to educate you more about the field of data science and its value as a career. You’ll be amazed to see how lucrative it is, once you get your hands-on different data systems and concepts for successful career growth.

Let’s learn more about Data Science.

If you're a beginner who is willing to pursue his career in this specific industry, then you have to be on your toes all the time and learn more about the data analytics so you can become a professional in this field.

Skills and Knowledge

To become a data scientist or an analyst, you’ll need to earn a relevant bachelor’s degree and achieve the best data science certification you can get so you can gather all the skills and knowledge you need to gain more understanding about this specific field.

The most demanded skills apart from statistics in Data Sciences are as follows,

1. Programming Skills in Python, Java, or C++

2.  Basic Algebra, Math, and Calculus

3. More programming languages like JavaScript, R, Ruby, PHP, Perl, and C

4. Decision Making

5. Data Visualization

6. Data Analytics

7. Data Evaluation and Modeling

8. SQL

9. Machine learning /AI development frameworks

10. Communication

Training and Certification Programs

There are several data institutes and online platforms that offer the best data science and data analytics certification and training programs to help beginners gain knowledge about how to perform data analysis and data mining and how to apply different data concepts while incorporating it with machine learning. To become more proficient in this field, it’s essential to gain a certification and take part in data training programs for smooth career growth.

Importance of Data Science

Data science is everywhere. It’s spreading its roots everywhere in the business industry, where it’s essential to measure and analyze data and align different data structures. It’s more relevant in the transportation, finance, health care, and e-commerce industry where they need measurable results to understand business processes and evaluate their growth in the market.

Career Opportunities

The field of data sciences has an immense scope and future possibilities. Therefore, it’s essential to acquire the right skills and knowledge to become an expert in a specific data role and ace your career field accordingly.

The most popular jobs in the field of data science are as follows,

1. Data Scientist

2. Data Architect

3. Data Engineer

4. Data Analyst

 

Job Outlook

The field of data science is improving and is the only field that offers everything in a package. For professionals, this field can earn them job security, an excellent salary, new opportunities, and incentives worth for a lifetime.

According to Indeed, the health care and e-commerce sectors are one of the best sectors to work for as data teams because they offer excellent benefits and more opportunities to data professionals.

Further, the average yearly income of a professional in Data science is more than $130k approx., while the lowest is $45k approx. and the highest is $300k approx. More salary details are mentioned below,

Data Engineer: According to Glassdoor, the average annual salary is $137,776

Data Architect: According to Glassdoor, the average annual salary is $123,680

Data Scientist: According to Glassdoor, the average annual salary is $117,345

Data Analyst: According to Glassdoor, the average annual salary is $67.377

What benefits does a career in Data Science offers?

If you’re also a job seeker or a beginner learning about this field, you need to know that it offers a lot of opportunities and benefits for a great career.

See below,

1. Big Opportunities

You can expect multiple job opportunities as it’s the most demanding field these days. Since machine learning and data technology is stealing the attention of every employer, it’s estimated that it will be the fastest-growing job by 2026, according to LinkedIn.

2. Well-paid

It’s a well-paid job and offers several lucrative options to data scientists and data professionals. Even an entry-level data analyst can earn more than most of the top job positions.

3. Vast Field

Data Science is a vast and versatile field. You can expect multiple opportunities and growth in large data sectors. However, you need to have the right skill set to land an excellent job in a specific sector.

4. Efficient Data Processing

With Data Sciences, you can learn more about data systems and analyze data for companies so they can improve their different processes. It will enhance your overall skills and provide you with an opportunity to work in a dynamic environment.

5. Value and Recognition

Adding data science certifications and experience on your resume increases your worth and value as a professional in the industry. It won’t take long until you are called as an expert in your desired data science field. You’ll even get the recognition you want against your job role in a company.

Conclusion

Overall, data science is a lucrative career. By 2026, it will become more powerful and will create more job opportunities for individuals seeking career growth in specific data science fields. Therefore, if you’re planning to go for it, then now is the time to really go for it.

 

About The Author
Associate Instructor

Owais Rashidi

Owais is an associate instructor at QuickStart having prior experience of doing projects in .Net, SQL Server, SSIS, Data warehousing and Business Intelligence. He has done Bs in Enterprise Resource Planning (ERP) which is a unique blend of both Software Engineering and Business Administration. And is also configuration and implementation of SAP core modules.