What Do Data Scientists Earn? 2016 Data Science Salary Report
What is data science?
Data Science is the most coveted title in the field of Analytics. To be a Data Scientist is to adorn the most lucrative job role in the analytics industry. A data scientist can decipher the hidden information from a magnanimous amount of Raw Data.
Data scientist was termed as the "sexiest job of the 21st century" the Harvard Business Review.
Glassdoor labeled Data Scientist to be the "best job of the year" for the year 2016.
Several companies in India, are keen to hire the best data scientists, and this demand clubbed with an exquisite set of skills that are a vital requirement are sending salaries soaring.
How much do data scientists earn
Data scientist earn a whooping amount, reports support that this job role attracts one of the best pays in the market. Indeed.com states the average salary drawn by a Data Scientist nationwide in the united states is over USD117,000. Data scientists over 5 years of experience draw a lucrative amount and are in great demand.
What makes Data science so special?
The ability to extract and derive meaningful insights to help organizations make amends and regulate future production and in turn avoid wastage and have an idea of what aspect needs to be implemented in various sectors, gives data scientists the edge over the others.
Data Scientists have very refined skillsets that sets them apart, and are one of the most in demand professions across the world. To find out more about Data Scientists you can read about the course description and what the basic requirements are.
Big data engineers
A Big Data Engineer creates and efficiently manages a company’s Big Data infrastructure, possesses technical skills to derive at insights through vast amounts of data accurately.
The role of a Big Data Engineer is closely linked with the role of a Data Scientist. To make a stark distinction the role of a Big Data Engineer requires skills that are focused on engineering with no dependency on either statistics or machine learning.
Big data engineers nationwide in the United States earn an average salary of USD147,000, as per reports from indeed.com
Since the past decade the Big Data industry has grown significantly. This field is constantly evolving at a rapid pace and there are very niche requirements to decipher sensitive data.
Machine Learning Experts on high demand
The capacity of computers to draw patterns and learn without being explicitly programmed to perform the desired action is Machine Learning. Machine learning heavily relies on the way an algorithm is built, to learn from and emulate the action. By imbibing a pattern from sample inputs the machine learning algorithm predicts and performs tasks solely based on the learned pattern and not a predefined program instruction.
Machine Learning experts are in great demand as this niche and an evolving sector is the future of learning and development. As per indeed.com reports suggest that the average salary of Machine learning experts Nationwide in the United States is over $112,000.
Business Analyst analyzes an organization or a business domain, documents the company’s operation structure. The role demands the analysts to assess the business model or the involvement of the model with the technology.
The demand for business analysts is on the rise, and as per indeed.com the average salary drawn across the United States for business analysts is at USD89,000.
Information management is the acquisition of information from several sources, the process of dispersal of vital information, and the ability to decide whether the information has to be archived or deleted.
Across the United States the average salary drawn by a information manager is around UDS 97,000
Business Intelligence involves the deployment of various software applications and frameworks to analyze and decipher information from raw data files. Several related activities like data mining, analytical processing, querying and reporting integrated together to eventually churn out actionable insights is business intelligence.
The average salaries drawn by Business Intelligence Professionals nationwide in the United States is over USD102,000.
Having said that, experts from these various streams can opt for different job roles and eventually chose to be a Data Scientist.
Headhunters are on the hunt for the best Data Scientists
Leading manufacturers and retailers have long since relied on the expertise of data scientists to help them reach the root-cause that could save the company million in liability. Nipping the problem at the root will eliminate future occurrences and inspires for an enhanced design in methodology and operations to avoid a re-occurrence.
These eloquent skills call for a fine judgment, great decision skills and the ability to draw valuable insights. Data scientists are required to know about other aspects of functionalities and utilize diverse skillsets to finally imbibe it all together and churn out insights and recommendations.
Data scientists effectively use their data and analytical skillset to detect rich data sources, they efficiently manage large chunks of data, work around software, ensure consistency in datasets, handle technical glitches, present and communicate the insights and recommend solutions to implement in the process.
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