Five Most Lucrative Data Science Jobs
- Chief Data Officer
- Data Scientist
- Data Engineer
- Data Architect
- Data Analyst
Data Hub compares data science to a large tree from which all data-related things branch out – from voluminous Big Data to simple old data analysis and management. As more data is created on a daily basis, the world is in need of professionals to analyze them and provide valuable business insights that can lead to profitability. Here are the five most rewarding data science jobs.
1. Chief Data Officer
This is among the most lucrative and rewarding job in data science career field, if not the most. Chief data officers (CDOs) are senior executives responsible for managing and implementing an organization’s data. They also govern the collected information and assist with data-driven business decisions and strategies, in an advisory capacity. Their job description revolves around ensuring that their organization benefits from the available data.
It is a high-profile, C-suite position with a median annual salary of about $192,812. There are not so many vacancies out there because the role emerged recently although market indications show that it is on a rise. Prerequisites include knowledge of various Big Data tools, an extensive managerial experience, a strong understanding of all the relevant concepts, and good communication skills.
2. Data Scientist
Data scientists employ their knowledge and skills in programming and statistics to provide actionable insights from raw data. They identify the right dataset, clean out the analysis, and extract insights from the said analysis. Then they communicate a simplified version of their results to the decision makers. They also advise the executives by explaining the effects of the findings (data) on a particular process or product and the expected consequences of certain actions.
Most employers require a bachelor’s or master’s degree in statistics or mathematics. Five or more years experience is an added advantage. On top of a host of perks and benefits, Data Scientists earn between $106,529 to $137,037. That means that the average data scientist earns about $122,258 per year.
3. Data Engineer
Data engineers are an essential part of any organization. They see to it that the Data scientists and Data architects employ the appropriate management systems and manipulate the right kind of data. Their work involves enabling their colleagues by sorting out messy, unstructured Big Data and providing a usable end-product for analysis.
They work in close tandem with Data architects but tend to have a more in-depth understanding of the various data languages and tools. An entry-level data engineer makes an average of $90,083 per year while a senior data engineer earns up to a whopping $123,749 annually.
4. Data Architect
In most companies’ structures, Data architects slot slightly below data and earn a tad less. Data architects are responsible for designing a workable data management blueprint. They design the stages of a data infrastructure project by defining the storage, consumption, and management of the said data.
One needs a bachelor’s degree in mathematics, statistics, computer science, or a related field, and tons of technical skills to qualify. The average salary for an entry-level data architect is $74,809 per year, while a senior-level data architect earns a median annual salary of $136,856.
5. Data Analyst
Data analysts crunch and analyze large amounts of data to reach appropriate logical conclusions. They simplify large amounts of data, whether research-sourced or domain-specific, to provide useful insights that ease the decision makers’ jobs. Their role differs from that of data scientists because while data scientists provide predictive mathematics-based analytics, they (data architects) provide analysis based on the components of data architecture.
The profile requires a low starting point compared to the rest. It is a good place to start if for those who want to advance to careers in more lucrative fields such as data science and data engineering. The mean annual salary is $55,804 for startups and rises up to a mean of $88,532 with more experience.
The demand for data science professionals is set to grow exponentially. According to an article published in Forbes Magazine, IBM predicts that the demand for data science pros will rise by about 28 percent by 2020. As such, it a field worth considering for anyone who is weighing his/her career option.