What is senior data scientist salary? This question is usually asked by individuals who wish to take up career or jobs as senior data scientist. We are going to show you how much a senior data scientist make later on in this article, for now let’s look at what Data science entails, it’s career prospects etc.
What Is Data Science?
Data science is an interdisciplinary field which uses scientific methods, procedures, algorithms, and systems to extract knowledge and insights from structured, noisy and unstructured data, as well as to apply that knowledge and actionable insights to a wide range of application areas. Data mining, machine learning, and big data are all aspects of data science.
Data science is a “concept that unifies statistics, data analysis, informatics, and their related approaches” in order to use data to “understand and analyze actual occurrences.” In the context of mathematics, statistics, computer science, information science, and domain knowledge, it employs techniques and theories from a variety of domains. Data science, on the other hand, is not the same as computer or information science.
Data science, according to Turing Award recipient Jim Gray, is a “fourth paradigm” of science (empirical, theoretical, computational, and now data-driven), and “everything about research is changing because of the impact of information technology” and the data flood. A data scientist is a programmer who mixes computer code with statistical understanding to derive insights from data.
How Long Does It Take To Become a Data Scientist?
A data scientist can be trained in 3–4 years at a university. It could take an additional 1–2 years for the 75% who want to get a master’s degree in data science.
5–6 years can be added to the overall duration. While self-studying has the potential to be the quickest route, this is very dependent on the individual student. Those who are dedicated to their studies may complete them in months, whilst those who are easily sidetracked may extend their path indefinitely.
In just a few months, students can achieve their dream of becoming a data scientist with the help of data science bootcamps. Some six-month introduction bootcamps are available, although the majority run 12–15 weeks. For some, the bootcamp route to becoming a data scientist may be the quickest alternative.
What Is Senior Data Scientist Salary?
In the United States, the average income for a Senior Data Scientist is $143,054. Senior Data Scientists in the United States earn an average of $18,822 in additional cash compensation. In the United States, the average total remuneration for a Senior Data Scientist is $161,876. Senior Data Scientist salaries are based on anonymous answers from Senior Data Scientist employees in the United States gathered by Built In.
Data Science Career Outlook
Become a data scientist is a highly sought-after professional option, according to several sources. Glassdoor has listed data scientists as one of the top ten best careers in America for the past five years, based on median base salary, active job vacancies, and employee satisfaction rates. Data science has also been dubbed “the sexiest job of the twenty-first century” by Harvard Business Review, which claims that “high-ranking experts with the training and curiosity to make discoveries in the world of big data” are in high demand.
Organizations of all sizes, from startups to Fortune 500 companies to government agencies, are realizing the advantages of big data. Back in 2009, Google’s Chief Economist Hal Varian told McKinsey Quarterly that “the ability to take data—to be able to analyze it, to process it, to extract value from it, to display it, to communicate it—going that’s to be a massively significant skill in the future decades.”
This forecast turned out to be correct. Data science is one of the top developing careers in 2020, according to a LinkedIn research.
According to the US Bureau of Labor Statistics, employment of computer and information research scientists is anticipated to grow by 16 percent by 2028, outpacing that of many other occupations. Data scientists, on the other hand, are in short supply, so now is an excellent moment to upskill and enter the industry.
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Getting Started With a Career In Data Science
Data science experts with higher degrees, such as a Master of Science in Data Science, are preferred by most organizations. Candidates for data science positions typically have a background in computer science or mathematics and then pursue a master’s degree in data science, data analytics, or a similar discipline.
Professionals develop essential expertise in predictive analytics, statistical modeling, big data, data mining applications, enterprise analytics, data-driven decision making, data visualization, and data storytelling through these graduate-level programs.
For example, Northeastern University’s Master of Science in Data Science program is an interdisciplinary program that combines courses from the Khoury College of Computer Sciences and the College of Engineering to provide students with comprehensive frameworks for data processing, modeling, analyzing, and drawing conclusions. Additionally, Northeastern’s industry-affiliated instructors bring their real-world experience to the classroom, allowing students to learn about the most pressing issues in big data firsthand.
Some students, on the other hand, may discover that a degree in data analytics is more appropriate for their job ambitions. Students that study data analytics learn how to use statistics, analytics systems technology, and business information to accomplish certain objectives. Students learn how to develop a rational, data-driven way to solving a challenging problem using this core knowledge. They also learn how to cope with data challenges like dealing with ambiguous data sets and reconciling data from several sources.
Northeastern University’s Master of Professional Studies in Analytics program prepares students by allowing them to apply analytics principles, tools, and approaches to a project inside a sponsoring organization. Graduates will have a core set of analytical skills to build upon as they progress through the curriculum, allowing them to layer more sophisticated technical or industry-specific applications. The program includes a lot of hands-on learning. Students learn by developing portfolios of real-world projects, demonstrating expertise in essential technologies, visualization, and communication strategies, and the capacity to convert data into actionable recommendations.
Data Science Education Requirements
There are numerous routes to a job in data science, but it is practically impossible to do it without a college diploma. A bachelor’s degree is required of data scientists. However, keep in mind that 79 percent of industry experts have a graduate degree, and 38% have a PhD. You’ll need a master’s or doctorate degree if you want to develop in your career.
Data science degrees are available at a few schools, which is a natural choice. Data science degrees will teach you how to process and analyze large amounts of data and will include technical material such as statistics, computers, and data analysis methodologies, among other things. Most data science programs have a creative and analytical component that allows you to make decisions based on your findings.
Is data science a good career?
Expertise in data science is in high demand since it leads to observable and measurable commercial outcomes. “Companies in the top third of their industry in terms of data-driven decision making were, on average, 5% more productive and 6% more profitable than their competitors,” according to Harvard Business Review.
Is data science hard?
With the right direction, Data Science, like any other area, can be an easy one to learn about and establish a career in. However, because it is so large, it is easy for a beginner to become disoriented and lose sight, making learning difficult and frustrating.
Is data science s stressful job?
Data scientist is one of the top three jobs for work-life balance, according to Glassdoor, and it also has one of the highest job satisfaction ratings! As a result, we believe it’s safe to say that data science isn’t particularly stressful in general.
Is Data science really in demand?
Data Scientists are still in high demand, but supply is few. The United States Bureau of Labor Statistics forecasts that the number of jobs in the data science profession will expand by around 28% by 2026. To put that 28 percent into perspective, that translates to about 11.5 million new jobs in the industry.