5 Outstanding Reasons to Earn a Master’s Degree in Data Science:
- Gain Proficiency in Data Management Technologies
- Become More Readily Employable
- Become Indispensable
- Earn a More Impressive Salary
- Gain Credibility
Anyone considering the possibility of launching a new career in data science or transitioning into the field from a different specialization is likely to be wondering whether it’s worthwhile to obtain a Master’s degree in data science. What would a person gain from spending several years and thousands of dollars on additional schooling in this field? Let’s explore 5 of the main advantages of earning a Master’s degree in data science:
Related resource: 15 Most Affordable Master’s in Data Science Online
Gain Proficiency in Data Management Technologies
One obvious advantage of earning an advanced degree in data science: The Master’s degree candidate will have the opportunity to become proficient in the data management technologies that are important for data professionals to know. These technologies can be challenging to learn outside of regular work hours if the student’s current job doesn’t already require use of them. Having an experienced instructor teach these technologies is one of the easiest and most straightforward ways to gain proficiency in them.
Become More Readily Employable
Data science is relevant to virtually all industries that matter right now; so proficient and knowledgeable data science Master’s degree graduates will be assets to employers in any industries they want to work in. Talented data scientists are needed in finance, healthcare, tech, and every other industry.
There are thousands of unfilled data science jobs available for people who can demonstrate they have the skills and credentials to fill them. Many of these are coveted, high-paying jobs with top Fortune 500 companies.
Experts at IBM are forecasting a shortage of 61,799 data science professionals by the year 2020. They have also revealed that 39 percent of all data scientist jobs and advanced analyst jobs require an advanced degree — either a Master’s degree or a PhD.
For employees who desire a career change, a Master’s degree in data science could be the ticket to fast-tracking a career in a new industry. For employees who are stalled in their careers, a degree in data science can help them move up the ladder in the field where they already have significant relevant work experience.
Global concern is growing that robots and automation will be likely to render large numbers of previously stable, reliable jobs obsolete. According to an Oxford University study, nearly half of the jobs in America are at risk of elimination.
Meanwhile, there is a massive shortage of qualified data science professionals. People whose careers are at risk of being automated out of existence can remain employable by training to gain skills that will make them indispensable to their employers in the future. Data science skills can help with this goal.
Earn a More Impressive Salary
Education is one highly relevant factor in determining what a data scientist’s salary will be. An advanced degree translates to higher earnings in many industries, according to the Bureau of Labor Statistics. Historical employment data shows that any candidate who plans to pursue a data science career in the tech, healthcare, education or business sectors will typically earn a significantly higher salary as a Master’s degree graduate.
A Master’s degree, particularly one that requires completion and defense of a capstone data science project, will confer credibility on the student who successfully graduates from the program. Successful completion of such a project can demonstrate to potential employers that the graduate is capable of using data to solve meaningful and relevant problems.
There are numerous reasons to want to launch a career in data science. It’s a fascinating career with countless lucrative and prestigious opportunities to pursue. Considering the skills shortage in this field and the high earning potential, it’s definitely worth giving some thought to the benefits of obtaining your Master’s in data science.