As the coronavirus pandemic hit in the year 2020, the data captured back then and captured over the years has shown a drastic differential. Over the next few years till 2025, global data creation is projected to grow to over 180 Zettabytes (as per Statista). Today, the world is abuzz with the latest technological infusions with the best Artificial Intelligence and data science at play.
What is Data Science?
Data Science, as the name suggests, is an incredible artful skill of deducing meaningful business insights from the vast amounts of data thus gathered. It involves multi-faceted inclusion of mathematics, statistics, linear regressions, and much more in order to lead to better business decisions for greater growth prospects.
Who is a Data Scientist?
Data Scientists are skilled professionals trained at managing such a humungous amount of business data and are passionate about offering business decisions by treating big data and numbers. They utilize technology to glean insights from large amounts of data thus collected.
What makes Data Scientists popular in demand?
The very role of a specialized data science professional is aimed at targeting big businesses with insightful data insights for the greater good of the business. Data Scientist jobs are going to surge by 36% by 2031 (as per the US Bureau of Labor Statistics). Another reality that hits is the shortage of available data scientists which is as evident as any other supply chain hustle.
Data scientist is one of the hottest job titles globally and demands the highest data scientist average salary as well, thus the skills required remain high-end. This is what makes the talent gap grow bigger as the skills could not match the level of expertise of the data specialists.
A massive dearth of qualified data scientists, incredible skillsets on offer, and highly complex work profiles make this industry a worthy career decision with the demand for specialized data science professionals.
How much does a Data Scientist make?
Data Scientists are ranked among the top 3 most sought-after professions worldwide. This makes the remuneration for this skilled workforce rise at an astounding rate. Believing US News and World Report, data scientists are among the best-paid 25 percentile job roles with the highest salary sitting at USD 130,770 annually.
Highest Paying Jobs in Data Science:
About 49% of the job ads on LinkedIn are in the tech and IT industry. Some of the highest-paying data scientist salaries and jobs are listed below:
JOB ROLE | RESPONSIBILITIES | HIGHEST SALARY PER ANNUM |
Data Architect | Assessing data sources for designing a business’s data management framework in a centralized format plan | USD 211,000 |
Data Scientist | Identifying data sources, preprocessing data, building predictive models, and analyzing data systems for optimization | USD 200,000 |
Data Modeler | Translating and validating data models, evaluating existing systems, ensuring data consistency, and optimizing metadata. | USD 160,000 |
Big data Engineer | Building Data pipelines, designing and managing data infrastructure, handling data storage, and working on the ETL process | USD 154,000 |
Enterprise Architect, business intelligence analyst, database manager, NLP engineer, machine learning engineer, and many others are great opportunity roles to earn the highest possible senior data scientist salaries around the world.
Top Companies Hiring Data Scientists Worldwide:
TECH GIANTS | JOB ROLES | HIGHEST ANNUAL SALARIES |
Amazon | Data scientist | USD 350,000 pa |
Intel | Big Data Engineer | USD 220,000 pa |
IBM | Data scientist | USD 230,000 pa |
Uber | Data scientist | USD 250,000 pa |
Apple | Data scientist | USD 260,000 pa |
Tesla | Machine Learning Engineer | USD 190,000 pa |
Microsoft | Data scientist | USD 325,000 pa |
Machine Learning Engineer | USD 285,000 pa |
Source: Knowledgehut.com
Top Skills that can get you hired as a Data Scientist:
- Data Extraction
- Data Mining
- Preprocessing structured and unstructured data
- Data presentation
- Data analysis
- Pattern identification
- Data collaboration with business and IT teams
- Developing prediction systems and machine learning algorithms
Industrial Demand for Skilled Data Scientists:
- Banking, Financial Services, and Insurance
- Media and Entertainment
- Technology
- E-commerce and Retail
- Telecommunication
- Education
- Energy and utilities
- Healthcare
- Government and Defence
- Digital Marketing
- Automotive
- Professional services
- Telecommunications
Ways to Boost Your Senior Data Scientist Salary
Getting your foot in the door of your dream data science career can be a challenge. The expert advice to delve deeper into the industry requisite standards and align your skillsets to match this highly rewarding career. Look into the following data scientist salary booster notes to kick off to a great start:
- Demonstrate high-expert skillsets
- Complete projects efficiently
- Be of value to the business
- Get involved in Professional Development opportunities
- Collaborate with expert industry professionals
Conclusion:
Hit the rod when the iron is hot! This is the right claim when it targets a data science career. Offer the best possible skill to your future employer while earning the world-renowned data science certifications to back up your worth. Begin earning the highest data scientist salary today!
