What Careers Can You Expect in Data Science?
The typical entry-level position for an information technology specialist pays about $40,000-$50,000 per year.1 But for data scientists, the pay rate at entry level can be as much as double that, between $90,000 and $100,000. In fact, in some markets, the average data scientist starting salary is $110,000.2
A Path With Many Branches
But what exactly does a data scientist do? What job titles should an aspiring data scientist look for when job hunting?
It's important to be aware that the field of data science is still new, and there is little uniformity in job titles from company to company. As a new data science professional, the positions you might seek could have titles such as: data analyst, data scientist, technology analyst, analytics consultant, solutions analyst, business analyst, or analyst. And while you can certainly benefit from this exponential growth in the field of business analytics, the variety in job titles could make your job search more challenging. When searching for your next role, consider positions with a wide range of titles, and focus more on the details of the job posting than on the job title itself.
Skills That Apply Across Industries
In 2015, 17 percent of companies surveyed across industries indicated that they were investing in some manner of data analytics project. By 2017, that number had increased to 53 percent. From reporting to data warehousing to dashboard creation, companies large and small are seeking professionals to help them get their data in order and learn how to use data effectively. Telecommunications firms lead the way in pursuing data scientists, followed closely by firms in the financial services field. After that, healthcare, technology and education companies are all making significant investments in data science talent.3
The best reason to pursue data science right now? Demand is still outpacing supply. Many organizations have recognized the need for data initiatives, but with less than five percent of today's college students completing data science and analytics courses, there is still a shortage of trained data scientists to meet current needs.4 The career outlook for data scientists is strong—prepare yourself for success in the field with a Master of Science in Business Analytics from William & Mary.
1. Retrieved on April 3, 2018, from payscale.com/research/US/Job=Information_Technology_Specialist/Salary/f3e71eac/Entry-Level
2. Retrieved on April 3, 2018, from entrepreneur.com/article/304325
3. Retrieved on April 3, 2018, from forbes.com/sites/louiscolumbus/2017/12/24/53-of-companies-are-adopting-big-data-analytics/#4f6b456739a1
4. Retrieved on April 3, 2018, from bhef.com/sites/default/files/bhef_2017_investing_in_dsa.pdf