Average salary masters data science

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Average salary masters data science

The average data scientist salary is $100,560, according to the U.S. Bureau of Labor Statistics. The driving factor behind high data science salaries is that organizations are realizing the power of big data and want to use it to drive smart business decisions. And because the supply of data professionals hasn't yet caught up with demand, starting salaries for these positions remain high, especially for those who have an advanced degree in data science or a related field. How Much Can You Make as a Data Scientist? It's no secret that data scientists can bring an immense amount of value to the table. Yet finding one person who can do all the tasks required of a data scientist is challenging, and competition over hiring these professionals is fierce. As a result, employers are willing to pay talented data scientists top salaries. A data scientist's salary depends on several factors: Experience Job title Industry Company size Region Education Data Scientist Salary by Experience According to O'Reilly's 2016 Data Science Salary Survey, experience is one of the most important factors in a data scientist's salary. For every year of experience, data science professionals make an average of $2,000 to $2,500 more. A 2020 Burtch-Works study of data science salaries reported the latest salary trends based on experience: Entry-level data scientist salary. Despite a recent influx of early-career professionals, the median starting salary for a data scientist remains high at $95,000. Mid-level data scientist salary. The median salary for a mid-level data scientist is $130,000. If this data scientist is also in a managerial role, the median salary rises to $195,000. Experienced data scientist salary. The median salary for experienced data science professionals is $165,000--while the median salary for experienced manager-level professionals is considerably higher at $250,000. Data Scientist Salary by Job Title In O'Reilly's data science salary report, 45 percent of those surveyed said they hold the title of "data scientist." Another 31 percent said they are upper management; an engineer, developer, or programmer; or other. In general, the more a data science professional engages in managerial tasks--such as leading team projects, identifying business problems to be solved with analytics, or communicating with external parties--the higher the salary. Source: O'Reilly Salary Data Science Salary Report, 2016 Data scientist Those with the job title of "data scientist" are generally experienced, expert-level professionals in data-driven organizations, according to . Salary range: $85,000-$170,000 Data analyst Data analysts work hands-on with data and tend to be at a point in their careers when they are focused on building up data science tools and skill sets. Entry-level salary: $50,000-$75,000 Experienced salary: $65,000-$110,000 Data science/analytics manager These professionals have one to three direct reports, sharp technical and quantitative skills, and strong leadership and business aptitude. Salary range: $90,000-$140,000 Big data engineer Engineers can solve problems and drive business value by building the platforms and applications that data scientists use to perform data analytics. Junior/generalist salary: $70,000-$115,000 Domain expert salary: $100,000-$165,000 Data Scientist Salary by Industry and Company Size The industries with the highest median data science salaries are: Cloud services, hosting, and CDN Search and social networking Banking and finance It's important to note that only 12 percent of data scientists surveyed by O'Reilly in 2016 worked in these three industries. Nearly 30 percent worked in either consulting or software (SAAS, web, and mobile). Source: O'Reilly Salary Data Science Salary Report, 2016 Perhaps not surprisingly, some of the highest paid data scientists work at leading tech companies. Here are average salaries at several high-profile organizations: Google: $152,856 Apple: $145,974 Twitter: $135,360 Facebook: $134,715 PayPal: $132,909 Airbnb: $127,852 Microsoft: $123,328 As far as company size, the larger the organization, the larger the salary. For example, in a company with at least 10,000 employees, a data scientist would likely earn a higher income than the same role at a company with less than 1,000 employees. Source: O'Reilly Salary Data Science Salary Report, 2016 Data Scientist Salary by Region Data scientists' salaries depend greatly on the region in which they live. The highest salaries are in California, which is also where the majority of data scientists surveyed by O'Reilly work. The Pacific Northwest has fewer data scientists than most regions of the country, but it boasts the second highest salaries. Source: O'Reilly Salary Data Science Salary Report, 2016 Data Scientist Salary by Education Data scientists are rare, especially when it comes to having the right combination of education and skills. At the most basic level, data scientists must know how to write code. In fact, the highest data scientist salaries belong to those who code four to eight hours per week; the lowest salaries belong to those who don't code at all. Source: Payscale Data scientists also need to wield the technologies that tame big data--and be able to learn the new and emerging ones--as well as open-source tools, cloud computing, and data visualization. It's not enough to simply know how to use these tools, however; it's crucial that data scientists know how to use them to derive actionable insights that will improve their organization. Additionally, data science positions require sharp business acumen, scientific curiosity, and strong leadership and communication skills. Having them will greatly affect salary. Data scientists tend to have advanced degrees in quantitative disciplines such as data science, applied mathematics, statistics, computer science, engineering, economics, or operations research. But only a data science master's degree will give you the precise education you need to be ready for a career in data science. __ What's Next? Discover University of Wisconsin offers an online Master of Science in Data Science. Start your journey. Explore Curious about what you'd learn in UW Data Science courses? See the curriculum. Ask Have questions about University of Wisconsin Data Science? Contact an adviser at 1-877-895-3276 or learn@uwex.edu. M.S. in Data AnalyticsAnalytics ProgramsMaster's DegreeCareersBig Data has changed the way companies do business. The sheer volume of data available--about customers, competitors, product demand, and so much more--has the power to help companies make better day-to-day choices and more strategic long-term business decisions. But the data itself is only as useful as how organizations interpret and analyze it. That's where data analytics professionals come in. These positions are crucial for turning massive amounts of data into actionable business intelligence. But how do you get ahead in this evolving career?The Real Value of a Master's Degree in Data AnalyticsGetting your master's in data analytics gives you the hard skills to collect, manipulate and analyze data and turn it into models that can be used to solve business challenges. Here's why getting your master's degree is crucial in this field:Master's degrees are the new norm. It's becoming an essential requirement for advancement, with 89% of employees in analytics positions with less than three years of experience possessed a graduate degree (Burtch Works)Master's degrees have a large impact on salary. According to a 2018 Burtch Works study of data analytic salaries, professionals with a master's degree earn a median base salary of $92,500.Want to know if this career might be right for you? Let's explore the types of individuals who excel in this career and the types of jobs they pursue. Thinking about applying for grad school? Get an inside look at how to create a winning admission essay with this free report. Signs A Data Analytics Master's Degree Might Be Right For YouNot everyone starts their career in data analytics. There are many professionals who transition into this career path. As long as you have good problem-solving skills, are passionate about using new tools and technology and curious about data, you can consider this program. While you do not need a specific undergraduate degree to pursue a master's in data analytics, two key aspects of this master's program are math and computer programming. As such, students with a background in STEM tend to be most prepared for the rigors of a master's degree in data analytics. Here are six signs you may enjoy this career:You enjoy math and statisticsYou like finding trends or patternsYou like computer programingYou like to support claims and opinions with proper dataYou like working in cross-functional teamsYou always want to learn new thingsIf your answers are predominantly "Yes," a master's in data analytics might be right for you.6 Top Paying Jobs For Candidates With a Master's in Data Analytics DegreeMany professionals are intrigued by the high earning potential of a career in data analytics. While salary should never be your sole motivator for pursuing a career, it's a top consideration for many professionals.We've compiled a list of six of the top paying jobs a master's in data analytics would prepare you for. See if one of these career paths is something you're passionate about.Data ScientistData scientists collect information from a variety of sources, consolidate it and analyze it to better understand how a business performs. Then, they build AI tools to automate certain processes so others can easily access and manipulate the data to make business decisions. Job Responsibilities:Mining data using cutting-edge methodsProcessing, cleansing and verifying data integrity for accurate analysesUsing machine learning techniques to build and optimize data modelsAverage Salary: $95,948 (Payscale)Senior Database Administrator (DBA)A senior DBA acts as a leader within computer engineering teams to develop database architecture that accomplishes the goals of specialized computer programs. Job Responsibilities:Design, plan and build databases that satisfy business requirementsWrite and troubleshoot complex database proceduresDevelop strategies and processes to spur innovationAverage Salary: $105,178 (Payscale)Director of AnalyticsDirectors of analytics dedicate significant time and effort to performing statistical analysis based on market data and research. They identify trends based on accumulated data to find risks or opportunities for their company and make performance recommendations to help accomplish business goals. Job Responsibilities:Manage a team of analysts and their project workloadWork with company leadership to identify and fulfill information needsAnalyze and validate findings to create reports and presentations to share information across the organizationAverage Salary: $126,762 (Payscale)Business Intelligence ManagerBusiness intelligence managers provide data solutions related to accomplishing business goals in their organization. They are responsible for managing a group of analysts who use a variety of statistical methods to help increase profitability. Job Responsibilities:Extract data from across the organization to implement into strategic decision-making processesReport on analytics and their financial impact for a variety of data-driven projectsManage developers to meet the needs for end-user data, dashboards and toolsAverage Salary: $101,578 (Payscale)Information Security ManagerInformation security managers create strategies to increase network and internet security across organizations. They manage a team to make sure data can be easily accessed, while keeping it confidential and secure. Job Responsibilities:Develop and implement security policies and audit plans to understand security risks and business needsReview software updates to ensure data and infrastructure are protectedLead security testing, including forensic investigations and mitigation processesAverage Salary: $111,877 (Payscale)Data ArchitectData architects design, structure and maintain data, usually into a systematic database. They make sure data is accurate and accessible for other members of the organization or project team. Job Responsibilities:Create strategies and processes for each division of the enterprise data modelCollaborate with business leaders and IT partners to plan a holistic data strategyDevelop and maintain storage of all data architecture outputsAverage Salary: $114,648 (Payscale)Choosing the Right Master's in Data Analytics ProgramWhether you're currently in a data analytics role or looking to transition careers, getting your master's in data analytics is a great way to advance your career in this growing field. When choosing a master's program, make sure it aligns with your needs and career goals. If you're a working professional, choosing an applied, hands-on master's in data analytics program will give you real-world skills you can apply to your current job, while preparing you for advancement. Franklin University combines cutting-edge theories and best practices with technical knowledge and practical skills to help you excel in the data analytics profession. This program is designed specifically for the needs of working adults, with flexible, online coursework and the ability to complete your degree in as few as 19 months. Explore the Franklin M.S. in Data Analytics degree to discover if this program is the right fit for you.

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