Data science masters average salary

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Data science masters average salary

Investing time and money getting an advanced degree is not always the best option for aspiring data... [+] scientists. Photographer: SeongJoon Cho/Bloomberg Many college graduates are considering earning an advanced degree in analytics, at considerable expense. For most of them, that choice won¡¯t pay off. People write to me looking

for advice about getting into analytics careers. A lot of people. Nearly all of them are people I¡¯ve never met, who have read articles that I¡¯ve written, or my posts on Quora and other social media platforms. Many of them are considering new programs which offer degrees such as a Master of Science in Analytics or Master of Science in Data

Science. I do what I can to talk them out of it. It¡¯s not these programs don¡¯t provide good education. On the contrary, some of the best and most conscientious analytics professionals that I know lead or teach in them. And the leaders of some programs put tremendous effort into helping graduates get good jobs. But students must invest a

lot of time and money to participate, and in many cases, the returns are not going to be as great as they are expecting. Reason 1: You can enter the profession without getting an additional degree. Most real live people with data science job titles don¡¯t have these new degrees. Many have degrees in math, statistics or operations research.

Looking over the profiles of a few of my own contacts, I found data scientists with degrees in business, economics, social policy, political science, philosophy and many other fields. To get a data science job, you need a firm grasp of the skills required to help your employer solve business problems, and the ability to make a convincing

case for what you can do, but not any particular degree. Reason 2: You¡¯re not academically prepared. Interdisciplinary learning and diversity in the workplace are good things, but some of the stuff I see is ridiculous. Yesterday, somebody asked me if it would be hard to transition from a degree in art to an advanced degree program in

analytics. Yes, yes, it would be hard. If you¡¯ve had no training in statistics, or even college math, and no experience with databases or programming, you should take some of those classes and see how it goes before considering a career in data science. Reason 3: The job won¡¯t pay as much as you¡¯re expecting. A big attraction for people

wanting to get into data science is the pay. I get it. A lot of stories are circulating about astronomic salaries. One recruiting firm survey also found some data scientists earning base salaries of more than $200,000. Who wouldn¡¯t be interested in that? Let me counter with some other sources. In a search of jobs and recruiting site Glassdoor,

I found salary reports of many data scientists. A few were as high as $140,000 or more, but none reported the mammoth packages I¡¯d heard stories about. The national average was about $113,000 and in my home of Chicago, only $80,000. Another compensation-focused source, Payscale, suggests an even less lackluster picture,

putting the median data scientist salary at about $93,000. These are still good salaries, more than most Americans earn. But the people who go for Masters degrees, in any field, are better off than most. Consider the loss of income and the costs of obtaining an additional degree before deciding whether it is worthwhile to you. And if better

pay is a motivator for you, explore your options for getting into a job that pays well for the education and experience that you already have. Reason 4: You¡¯re using school to avoid looking for a job now. Here¡¯s one that comes up a lot. A capable person with a worthwhile profession and a good education is between jobs, or in a job that¡¯s

going nowhere, but doesn¡¯t want to deal with a job search. So, the person rationalizes an (unneeded) return to the university to get another degree. If what you really need is a job, or a better job, face that fact and get down to your job search. I¡¯m a believer in education, formal and informal. If you¡¯re thinking of getting a degree, in data

science, analytics, or any other field, because you love it, and you have the time and money to spare, that¡¯s terrific. But if your interest in analytics is driven by the desire for a job that offers better rewards that what you¡¯re getting now, look for alternative paths to make that career move. Degrees in the same industry as Master of Science

(MS), Business Data Analysis, ranked by salary?Master of Engineering (MEng / ME), Business Data AnalysisAvg. Salary: $78,471Master of Business Administration (MBA), Business AnalysisAvg. Salary: $78,719Master of Information Science (MIS), Organizational LeadershipAvg. Salary: $78,500Master of Fine Arts (MFA), Project

ManagementAvg. Salary: $78,500Executive Masters of Business Administration (Exec MBA), Concrete Industry ManagementAvg. Salary: $78,500Certificate (Cert), Enterprise Resource Planning (ERP)Avg. Salary: $78,500Bachelor of Science (BS / BSc), Accounting & EconomicsAvg. Salary: $78,500Bachelor of Professional Studies

(BPS), Hotel & Restaurant ManagementAvg. Salary: $78,500Bachelor of Science, Electrical Engineering (BSEE), AccountingAvg. Salary: $78,500Bachelor of Science (BS / BSc), LogisticsAvg. Salary: $78,543Bachelor of Science (BS / BSc), Business OperationsAvg. Salary: $78,483Bachelor of Individualized Studies (BIS), MarketingAvg.

Salary: $78,611Bachelor of Business (BB), Human Resources DevelopmentAvg. Salary: $78,611Master of Professional Accountancy (MPA), Accounting & TaxationAvg. Salary: $78,614Master's Degree (non-MBA), Leadership DevelopmentAvg. Salary: $78,625Bachelor of Arts (BA), Organizational DevelopmentAvg. Salary:

$78,648Bachelor of Arts and Science (BASc), Industrial & Labor RelationsAvg. Salary: $78,663Master of Engineering (MEng / ME), Logistics & Supply Chain ManagementAvg. Salary: $78,682Master of Business Administration (MBA), Management & LeadershipAvg. Salary: $78,704Bachelor of Liberal Arts (BLA), AccountingAvg. Salary:

$78,567?Male65.6%Female34%Rated 4 out of 5Based on 368 responsesPay ranges for people with a Master of Science (MS), Business Data Analysis degree by employer.This data is based on 1,172 survey responses. Data scientists are part of a new type of analytical data professional who have technical computer science and data

skills to solve challenging business problems. These workers are part mathematician, part trend-spotter, and part computer scientist. They are able straddle the IT and business worlds effectively, so they are wanted for many positions and are well compensated. (). Many data scientists started their careers in statistics or data

analysis. But as big data grew and evolved, these roles evolved into more of a data scientist occupation. Data is not just an afterthought for the IT department to handle. It is vital information that needs careful analysis so that business-critical decisions can be made. Common duties for data scientists include: Collecting large quantities of

random information and transforming it into usable data to make business decisions. Solve complex business problems with data-driven techniques. Work with many programming languages to manipulate and interpret data, such as R, Python and SAS. Have an excellent understanding of statistical tests and distributions. Stay current with

analytical techniques including machine learning, text analytics and deep learning. Seeking order and patterns in large datasets, as well as looking for trends that can help a company save or make money. Data Scientist Salary Outlook If you want to become a data scientist, you will probably need a bachelor¡¯s and/or masters in data

science, computer science or a related field. These are tough majors, so you will want to review the salary potential of data scientists before you make such an important educational decision. SEE ALSO: Best Ranked Online Master¡¯s in Business Analytics Degrees Below is detailed salary information. Bureau of Labor Statistics The

Bureau of Labor Statistics does not provide specific salary data for data scientists. But the related profession of computer and information research scientists has an annual median wage of $118,370, with a range between $69,230 and $183,200. (). Median wages are highest in this field in the following industries: Software

publishers: $140,200 Research and development in physical, engineering, and life sciences: $128,500 Computer systems design and related services: $124,200 Federal government: $109,800 Colleges, universities, and professional schools: $82,600 reports the average salary for data scientists is $95,998,

with a range between $65,000 and $134,000. The website also reports the following company salaries: () Booz, Allen, Hamilton: $80,000 Microsoft: $122,000 Amazon: $118,000 Facebook: $121,000 IBM: $98,000 Ford: $93,000 Apple: $126,000 Google: $138,000 The following skills are important for data scientists and the

pay offered for them is high: Machine learning: $99,100 Python: $97,600 Data analysis: $91,800 R: $89,m500 Statistical analysis: $95,600 Pay for data scientists also will vary based on experience: Zero to one year of experience: $85,600 One to four years of experience: $94,000 Five to nine years of experience: $107,200 Ten to 19

years of experience: $120,00400 More than 20 years of experience: $134,100 Pay by the city will vary as well for data scientists above or below the average wage of $95,998: San Francisco: +26% Seattle: +12% Boston: +5% New York City: +4% Los Angeles: +2% Washington DC: -7% Chicago: -9%

reports the average national salary for data scientists is $118,042, with a range between $35,500 and $178,500. Most data scientist salaries currently range between $92,000 and $137,500. () This website states the national average salary for data scientists is $120,495, with a range between $88,000 and

$163,000. () University of Wisconsin The University of Wisconsin¡¯s Data Science Department reports the average data scientist¡¯s salary is $113,400. The site says the major factor driving high data science salaries is that companies are realizing the great power of big data and want to use it to drive critical business

decisions. As the supply of data scientists has not yet caught up with the supply, starting salaries for these positions can range from $50,000 to $95,000. (Wisconsin.edu). This source also states that work experience will dictate in part how much you earn as a data scientist: Entry-level data scientist: Median starting salaries have been

reported as high as $95,000. Mid-level data scientist salary: Median salary for someone with several years of experience is $128,700. Experienced data scientist salary: Median salary for the most experienced is $165,000. Also, one¡¯s job title in the field influences your salary. According to , these job titles have the following

salary ranges: Data scientist: $85,000-$170,000 Data analyst: $50,000-$110,000 Data analytics manager: $90,000-$140,000 Big data engineer: $70,000 to $115,000 Further, the industries with the highest median salaries for data scientists are in cloud services; hosting, and CDN; search and social networking; and banking and finance.

Data Scientist Job Outlook Employment for computer and information research scientists will grow by 16% from 2018 to 2028, which is much faster than the average for other occupations. The research and development of data scientists and computer and information research scientists are what transforms ideas into technology that

leads to industries. As the demand for better technology grows, there will be more demand for good data and computer scientists. Strong growth in the collection of data by companies will cause a greater need for data-mining services, and computer scientists will be required to devise algorithms that help companies use massive amounts

of data. With this important information, businesses will have a better grasp of their customers. Also, a greater need for robust cybersecurity should bring new data scientist and computer scientist jobs to prevent cyberattacks that put personal and proprietary information at risk. (). Data Scientist Salary by State StateHourly

WageAnnual Salary New York - Data Scientist Salary$62.51$130,011 Massachusetts - Data Scientist Salary$61.99$128,949 New Hampshire - Data Scientist Salary$60.84$126,540 Maryland - Data Scientist Salary$57.76$120,143 Hawaii - Data Scientist Salary$57.13$118,824 Alaska - Data Scientist Salary$57.12$118,811 Nevada Data Scientist Salary$57.12$118,811 Montana - Data Scientist Salary$57.12$118,811 North Dakota - Data Scientist Salary$57.12$118,811 Wyoming - Data Scientist Salary$57.12$118,811 Idaho - Data Scientist Salary$57.12$118,811 Vermont - Data Scientist Salary$57.03$118,615 Nebraska - Data Scientist Salary$56.95$118,459

Connecticut - Data Scientist Salary$56.88$118,310 Washington - Data Scientist Salary$56.79$118,133 Rhode Island - Data Scientist Salary$56.22$116,946 California - Data Scientist Salary$56.16$116,819 Virginia - Data Scientist Salary$55.89$116,245 New Jersey - Data Scientist Salary$54.75$113,881 Arizona - Data Scientist

Salary$54.48$113,322 West Virginia - Data Scientist Salary$54.38$113,102 Colorado - Data Scientist Salary$54.24$112,824 Pennsylvania - Data Scientist Salary$54.06$112,435 South Dakota - Data Scientist Salary$53.98$112,281 Minnesota - Data Scientist Salary$53.97$112,256 South Carolina - Data Scientist Salary$53.88$112,075

Oregon - Data Scientist Salary$53.84$111,977 Tennessee - Data Scientist Salary$53.78$111,865 Delaware - Data Scientist Salary$53.64$111,567 Utah - Data Scientist Salary$53.48$111,247 Kentucky - Data Scientist Salary$53.40$111,062 Kansas - Data Scientist Salary$53.16$110,579 Ohio - Data Scientist Salary$53.07$110,384

Indiana - Data Scientist Salary$52.81$109,837 Oklahoma - Data Scientist Salary$52.68$109,568 Wisconsin - Data Scientist Salary$52.48$109,168 Iowa - Data Scientist Salary$52.41$109,019 Louisiana - Data Scientist Salary$52.24$108,652 Maine - Data Scientist Salary$51.99$108,148 Texas - Data Scientist Salary$51.46$107,044

Alabama - Data Scientist Salary$51.06$106,209 Georgia - Data Scientist Salary$51.06$106,197 Arkansas - Data Scientist Salary$51.02$106,120 New Mexico - Data Scientist Salary$50.59$105,234 Mississippi - Data Scientist Salary$50.32$104,660 Michigan - Data Scientist Salary$50.11$104,229 Illinois - Data Scientist

Salary$49.99$103,984 Missouri - Data Scientist Salary$49.01$101,944 Florida - Data Scientist Salary$48.07$99,982 North Carolina - Data Scientist Salary$43.76$91,023 Source: , January 2020. Summary Data scientists are highly sought after in all industries to help companies make use of massive quantities of data, so

they can make better business decisions, from which products and services to market, where, at which price, and much more. Professionals with a strong background in computer science, statistics, and/or data should be able to have a long, profitable career as a data scientist with a starting salary of $70,000 per year or more.

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