Table of Contents Hide
- Things That Put Impact On Data Scientists Earning
- Data Scientist Jobs
- Data Science Needed In A Covid-19 World
- Entry Level Data Scientist
- Senior Data Scientist Salary – Senior Positions Mean More Responsibilities
When you start to do research on how much do data scientists make, you will see that figures range from roughly $80 to $210 and much depends on the location you are in, your skills, and what line of data scientist you are in such as being a data engineer, a statistician, software programming analyst or something else.
If you are in the company of people who are talking about data preparation, data visualization, and pattern recognition, you may be in the presence of a data scientist. A data scientist is an analytical expert who uses their technology skills to manage data.
Many businesses have to hire the services of a data scientist when they deal with large amounts of data and everything seems to be in a mess. Organizations today spend a lot of time trying to make sense of different kinds of data. Thankfully there are data scientists who have the skills and ability to transform this messy data into something that makes sense.
Things That Put Impact On Data Scientists Earning
Cities And Skills Impact The Salary
So how much do data scientists make if they are so valuable to organizations? Data scientists help organizations to solve all kinds of problems and ultimately to make sound decisions for the future.
Recruiters say that companies are offering anything between $10 000 a month and $15,000 a month. You will find that city and state definitely influence how much do data scientists make each month and year. Certain jobs under the data scientist umbrella also see higher earnings.
What Does A Data Scientist Do And How Much Do Data Scientists Make?
With so much knowledge to have at your fingertips, you might well ask how much do data scientists make? It will pay to do research because there is a significant difference between what a junior data scientist earns and what a senior data scientist’s salary will be.
In a business, if nobody can give answers on facts and statistics, they will want the services of a capable data scientist. So what does a data scientist do? The role of a data scientist will include storing huge amounts of data and to also examine data sets so as to identify patterns.
How much do data scientists make is quite a bit because one of the most important roles of a data scientist involves developing statistical models for data analysis. Such skills require vast education. The data scientist has to understand the needs of their customers and come up with solutions.
Data Scientist Skills
When you ask the question of how much do data scientists make, you can work out for yourself that for a salary close to $140 000 a year, you will require some important data scientist skills.
How much do data scientists make is not something that you need to worry about if you only intend to have a high school diploma. Getting a high school diploma is not going to be enough. That is the very minimal requirement you need.
How much do data scientists make should be a question and answer that guides you. You are going to require a host of technical skills and a solid foundation in maths. If maths was not a good subject of yours in school, then this career may not work for you. Data scientist skills are always going to require you knowing maths. Other skills you will need will be –
- R programming
- Hadoop platform
- Python programming
- SOL databases
- Machine learning and Artificial Intelligence
- Data visualization
- Software engineering
- Maths and statistics
Of course, there are many other data scientist skills to know, but you will need these skills to give you the confidence you need. So when you ask what does data scientist do, they are definitely someone who knows how to interpret data.
Data is not clean and software engineering skills will be necessary to understand biases in data to get it into shape. What does a data scientist do to accomplish all this? They will absolutely need to have a degree in mathematics and computer science.
When you consider that data is like another language, then the data scientist will have to be able to communicate well and get the information over to others simply.
Data is what makes a business function. Businesses revolve around data. That data has to be processed and powerful devices assist with this. The machines are automated to process data. To build these amazing machines, professionals such as Machine learning engineers and data scientists are needed.
Even today, there is confusion between data scientists and machine learning engineers, and yet there are major differences. They both require being highly educated. In fact, how much do data scientists make will be determined by the education they have. A master’s degree or a Ph.D. in data science is going to be required to qualify for a data scientist.
Data scientists are not slouches, and when you do research, you discover that they have a mix of degrees in logistics, mathematics, computer science, engineering, statistics, information technology, and other similar subjects.
How much do data scientists make will also depend on what skills out of all these mentioned they have. Actually, you can safely say that a data scientist cannot really get away without a Master’s or Ph.D. in computer science, statistics, engineering, and mathematics for applying for data scientist jobs.
In fact, for such a complex job, there are many other things that the data scientist would study. Programming languages are also in demand and can open data scientist job doors for you.
The importance of data analysis can’t be understated and it is why some businesses hire a data scientist so that they know what is going on. Being a data scientist is not going to get you a label of being in a sexy job, however, when you ask the question how much do data scientists make, people start to take notice.
Certainly with covid 19 having put many people out of a job, in 2021, the data science job market is not showing any signs of slowing down.
Despite a slowdown in the job market last year, if you want a lucrative career, and you are interested in the information technology industry, then you may want to look at becoming a data scientist.
Data Scientist Jobs
A machine learning scientist or engineer is one of the jobs you can choose and which falls under the data scientist umbrella. These scientists research, design, and build artificial intelligence systems. They create AI algorithms. They are in constant communication with the likes of data analysts and data architects as well as with IT- and software development specialists.
The machine learning engineer also has to analyze and organize large amounts of data, with their most important goal being to create a machine learning model. Some of their responsibilities will be among others, selecting appropriate data sets, designing ML systems, researching, and also ML algorithms. Performing statistical analysis will be something else they should know.
Of course, there are certain skills and qualifications required to become a machine learning engineer, and like the data scientist, it will require software engineering skills, advanced maths and statistics skills, a degree in computer science, coding, and programming languages, and a master’s degree in machine learning. In 2021 such a specialist will be looking at a salary in the region of $150 000 per year.
Data Science Needed In A Covid-19 World
Even with Covid-19, data science is still a lucrative career for anyone with skills in this area. True, breaking into data science is not easy as it was a decade ago. You could get away with some Python skills, data visualization, and machine learning techniques. That was enough to get you hired as an entry-level data scientist.
Because it is such an in-demand job, now that everything has been forced to move online, competition between data scientists is increasing. So where once it was easy to get into the data science job market, now it is not. There has been an increase in junior-level data scientists who are entering the job market with a whole lot of skills.
For any job these days, when you send your CV in, you have to know the stark realities. That is that your CV will be among 300, 400, or 500 other CVs.
Entry Level Data Scientist
Before you start applying for entry level data scientist jobs, you do need some skills. Fortunately, there are many places where you can even find free online courses on things such as statistics, computer science, and data science.
Once you have that basic knowledge, a good idea is to consider an internship. An internship can so easily turn into a full-time job. Having the right data scientist skills is necessary, but skills would not be enough until you make your skills known.
You Must Have A Website
You do this through a website where you can showcase your skills and proficiency in data science. Having a good online presence will help you with applying for entry level data scientist jobs. So how much do data scientists make when they start at the bottom of the rung? The national average salary for an entry level data scientist job will be in the region of $90 000 a year.
If you want to become a data scientist and perhaps go on to hold a top senior data science position, start off by establishing a solid data science foundation. How much do data scientists make when it is a senior position? The national senior data scientist salary is a cool $140 000 a year. So that is definitely something to work towards if the idea appeals to you.
You want to make sure that you have all the data science skills that people who are hiring are looking for. As already suggested, you need to be familiar with the concepts of statistics, maths, SOL, or Python and have some knowledge of visualization tools.
Once you have a grip of these essential data science skills, some on-job learning from an internship can stand you in good stead. Once you have acquired all the skills you need to build a good data science portfolio, it is time to start applying for data science jobs.
Senior Data Scientist Salary – Senior Positions Mean More Responsibilities
When you ask how much do data scientists make, and you see what a senior position like senior data scientist salary gets you, you can imagine that much will be required from the senior data scientist to earn such a salary. Some of their tasks will be to oversee the activities of entry level data scientists.
They will have to be constantly enhancing the business’ capabilities and help the business to continue its culture of being a data-driven business. In terms of analytics, the senior data scientist will have an important analytical role to play in designing and deploying scalable data analytics and machine learning solutions.
The senior data scientist will therefore have to have experience working with machine learning libraries such as OpenCV, xgboost, and others.
When you are a data scientist with a host of complicated skills at your disposal, you want to know how much do data scientists make? They earn well, but to increase your salary as a data scientist further, there are a few things you can do.
One is to simply change to an industry that is more competitive in 2021 and in a covid-19 world. Financial organizations are in demand as everyone tries to grapple with their finances so you can expect more premium salaries in this industry.
Also, those data scientists that get a doctoral degree can have more confidence when they apply for data scientist jobs with better positions.