Is a Data Science Degree Worth it?
In today’s world, data is everywhere, and the ability to analyze it to make informed decisions has become an essential skill. This is where data science comes in. Data science is a broad, dynamic field that encompasses computer science, data and statistical analysis, and emerging tools, such as machine learning, to extract insights and knowledge from data.
If you’re searching for a rewarding career that offers ample opportunities for growth and impact, data science may be the perfect field for you. But is a data science degree worth it? To answer that, we’ll need to address several other important questions, including: What advantages does a data science degree offer? What are data science jobs you can pursue? How much do data scientists get paid, and what can you do with a master’s in data science?
Read on to explore these questions and more.
What Are the Advantages of a Data Science Degree?
If you have a passion for working with data and want job flexibility and security, a data science degree could be worth pursuing. Data science is a rapidly expanding field with high demand and high earning potential, making it a promising career path.
Data science degrees are also extremely versatile, opening doors to professional growth and job opportunities across a wide range of industries. As a well-trained data scientist, you can build a fulfilling career helping businesses and organizations of all types and sizes make better decisions, optimize their operations, and develop innovative products and services.
Is Data Science a Sought-After Profession?
The ever-expanding landscape of big data and technology is constantly presenting fresh pathways for career movement in the data science field. In fact, with 36 percent projected growth by 2031, data science ranks as the sixth fastest-growing occupation, according to the United States Bureau of Labor Statistics (BLS).1
With the importance of data on the rise, skilled data scientists are in demand across all types of industry including finance, health care, technology, marketing, and more. A data science degree can equip you with the skills necessary to succeed in highly competitive careers such as data analyst, data engineer, machine learning engineer, data scientist, and other similar roles.
How Much Do Data Scientists Get Paid?
Data science is a lucrative career path with great earning potential. How much data scientists get paid can depend on several factors, such as level of education, years of experience, and area of expertise. According to BLS data, the median annual salary for data scientists—including business intelligence analysts and clinical data managers—is $100,910.2 Database administrators and architects, meanwhile, earn an annual average of $121,840.3 Additionally, a master’s degree in data science can enhance your knowledge and skills, preparing you for managerial positions that typically offer a higher salary.
What Data Science Jobs Can You Pursue With a Master’s?
As previously mentioned, a data science master’s is a flexible degree that provides opportunities for career growth and impact in a variety of industries. Whatever field you’re interested in—sports analytics, predictive risk, operations optimization, marketing, manufacturing, food production, transportation, health care, and so many others—there is a job for you as a data scientist.
As the capacity to collect and store data increases, so does the demand for skilled data scientists, analysts, engineers, and other highly skilled data professionals. The advanced training and knowledge that a master’s in data science provides gives you a competitive edge for all these roles.
Now let’s take a closer look at what you can do with a master’s in data science.
Preparing Future Data Scientists for Success
If you’re still wondering, “Is a data science degree worth it?” just ask Megha Lokanadham, a 2018 graduate of Illinois Institute of Technology’s M.A.S. in data science program.
“The reason I chose Illinois Tech over other schools was because of the flexibility of the program, the focus on taking both math and computer science courses, and the great research opportunities it had to offer to its students,” said Lokanadham, who currently serves as a senior scientist for IT engineering at Qualcomm.
“The program at Illinois Tech is so different from other programs because of its good blend of math and computer science courses, its research opportunities, and that each course focuses on imparting skill sets needed to be industry ready. Illinois Tech offered exactly what I was looking for in a graduate school experience.”
Lokanadham studied computer vision, natural language processing, machine learning, applied statistics, and math modeling—all essential and timely topics that prepared her for success in her career.
“The program covers every skill and technique you can possibly think of needing in order to work in the field of data science in the industry,” Lokanadham said.
What Can You Do With a Master’s in Data Science?
Now that we’ve answered, “How much do data scientists get paid?” and other important questions, let’s take a look at what you can do with a master’s in data science to further determine if a data science degree is worth it for you.
Every industry, nonprofit, startup, government agency, branch of the military, research laboratory, financial institution, and manufacturing facility uses data. As a result, there is a growing demand for professionals with advanced knowledge and skills in data science across various sectors. With a master’s degree in data science, you can position yourself as an attractive candidate for a multitude of career paths.
So what are data science jobs you can get with a master’s degree? Let’s explore some popular career opportunities and the skills required for each.
Business Intelligence Analysts
Business intelligence analysts use tools such as data visualization, predictive analytics, and machine learning to identify patterns and trends in data that can inform critical business decisions. These professionals require excellent analytical, problem-solving, and communication skills.
Database Administrator
Database administrators manage and maintain data systems to ensure data availability, integrity, and security. They optimize performance and ensure that data is organized efficiently. They require technical skills such as database design, SQL programming, and server administration, as well as strong critical thinking and communication skills.
Data Analysts
Using statistical and analytical techniques, data analysts transform raw data into valuable information necessary for making business decisions, detecting market trends, and optimizing organizational performance. As a data analyst, you’ll need strong analytical and communication skills to convey complex data to individuals who might lack technical expertise.
Data Engineers
Data engineers design, build, and maintain complex infrastructure to store, process, and manage large-scale data. They work closely with data scientists and analysts to ensure that data is readily available for analysis. These professionals must be well-versed in programming and database management.
Data Scientists
Data scientists design experiments, build models, and communicate findings. They use advanced analytical and statistical techniques to identify patterns and trends that inform business decisions. Data scientists must be skilled communicators who can explain technical concepts to nontechnical audiences. They require a broad range of skills, including programming, statistics, data visualization, and machine learning.
Information Security Analysts
Information security analysts protect computer systems and networks from cyber threats by implementing and maintaining security measures such as firewalls, encryption, and access controls. These professionals require a strong understanding of network and system security protocols, risk management, incident response, and security analysis.
Machine Learning Engineers
Machine learning engineers design and develop algorithms that enable computers to learn from data and improve their performance over time. They build and test models and algorithms to ensure they are optimized for accuracy and efficiency. These professionals require strong programming skills and expertise in machine learning algorithms, data structures, and statistics.
“Exposure to cutting-edge big data technologies”
What can you do with a master’s in data science? Just ask Ying Wu. As a senior data scientist for Sojern, Wu uses tools and technologies such as machine learning, statistics, and data visualization, all of which she studied in Illinois Tech’s data science master’s program. The 2017 graduate credits her experience at Illinois Tech as the foundation for landing her first job:
“The data science program provides students with in-depth computer science and mathematics training, as well as exposure to cutting-edge big data technologies, which helped me in getting my first job position as an Illinois Tech graduate,” Wu said.
For Wu, a data science degree was certainly worth it. She praised Illinois Tech’s supportive environment, which provides opportunities to network with students and professors. She said the program’s faculty members were more than instructors—they were mentors: “Professors really care about students’ success and provide great academic and professional support, such as forming a career plan.”
Wu added that the best features of the program were the array of courses offered and the opportunities to learn different programming languages and technologies.
“I learned the process of solving analytical problems in projects, which is very useful in my work environment,” Wu said.
Start Your Journey to Becoming a Skilled Data Professional With a Master’s Degree in Data Science From Illinois Tech
Is a data science degree worth it? At Illinois Institute of Technology, we certainly believe so. Whether in Chicago, with its diverse economy and thriving tech community, or around the world, our alumni are making waves in the data science profession. Our rigorous program combines high-level mathematics, statistics, and computer science and communication training to prepare you for success.
Through Illinois Tech’s data science master’s program, you’ll gain the necessary tools and experience to get your foot in the door to a new career or advance your current one. You’ll not only learn how to analyze data, but also how to simplify your findings to make a complicated and dynamic world more understandable for others.
Earn your data science master’s online in just two years through our flexible hybrid program, or in person on our high-tech Chicago campus. You can tailor your degree to your goals with a wide selection of hands-on courses—including emerging areas such as artificial intelligence, big data technologies, and machine learning—in addition to foundational courses in computer science, statistics, and data analysis.
What can you do with a master’s in data science? Find out today at Illinois Tech.
Gain Vital Experience Beyond the Classroom
At Illinois Tech, we recognize the importance of learning outside the classroom through experience and mentorship. That’s why our data science master’s program includes a six-credit-hour practicum in your plan of study, which complements your coursework in the data science curriculum.
To help you reach your full potential, we’ve cultivated valuable relationships with business, industry, and nonprofit partners in the Chicago area. Working in small teams with other students and mentored by faculty members, you’ll have the chance to work with these partners on real-world, data-driven projects. Experience firsthand what data science jobs are really like and what you can do with a master’s in data science as you hone your professional skills.
Read more about how Illinois Tech students are preparing for success and answering the question, “Is a data science degree worth it?” with real-world practicum training.
Sources
1. https://www.bls.gov/ooh/fastest-growing.htm
2. https://www.bls.gov/ooh/math/data-scientists.htm
3. https://www.bls.gov/ooh/computer-and-information-technology/database-administrators.htm