Does Demand for Data Scientists Align With Salary Ranges?

Understanding the Salary Ranges and Opportunities

Salary.com says the average salary range for a Data Science (DS) and Data Analytics (DA) Engineer in the United States is between $138,151 and $169,121—several factors, such as certifications, additional skills, and years of experience, affect this range.

Even in entry-level positions, higher salaries for Data Scientists (DS) and Data Analysts (DA) generally presume previous work experience within Software Engineering or other IT-related jobs. Those skills are essential for all candidates considering moving into this incredible and fascinating field.

Prospective students wanting to break into the Data Science and Analytics fields should review the degree and certificate programs offered at schools like CIAT. Edu. This San Diego-based education institution offers several programs to assist students with the knowledge to pursue a career in big data, including:

• Applied for Bachelor’s Degree in Software Development–Data Analytics Concentration

• Associate of Applied Science in Business Data Analytics

• Tableau Desktop

• Power BI Certification

This article discusses the various pay scales, education requirements, expertise, and job titles in the Data Science and Analytics industry.

The Experience Factor in DS and DA

The amount of experience a DS and DA have helps determine their salary. Experience with various skill sets can help a candidate land higher entry-level and advanced salaries. These skills include:

• Analytical Skills

• Technical Skills

• Artificial Intelligence Skills

• Machine Learning Skills

• Statistical Analysis Skills

These skills also have a correlation to career progression within this field. The role of a DS and DA will continue to change to meet the demands of monetizing, securing, and optimizing big data. Obtaining additional skills and experiences can help with future advancement in this field.

Entry-Level Data Science Salary

Entry-level professionals seeking a role in DS and DA will get paid well. According to Payscale, the average annual salary for Data Scientists is between $70,000 and $137,000. Many employers will create custom job descriptions to align their base salary ranges with the cost of living in their respective areas.

However, a lack of practical experience may result in a lower wage. 

Common DS and DA Roles and Their Salaries

Earning opportunities for experienced DS and DA professionals reflect the hard work associated with these roles. In DS and DA, there are several common roles that drive daily business decisions. 

Various industries offer DA and DA candidates career opportunities, including Healthcare, Fintech, Federal Government, Ecommerce, Cloud Data, and Machine Learning Technology. 

Below are the base salaries and job titles for some of the most common DS and DA roles:

• Business Analyst: $98,000 – $148,000

• Database Administrator: $97,000

• Business Data Analyst: $86,000

• Statistician: $82,000

• Senior Data Scientist: $141,000

• Data Scientists: $122,000

• Data Architects: $154,000

• Analytics Manager: $296,000

Job Outlook Beyond 2023

A qualified data analyst is crucial as data continues to expand. The U.S. Bureau of Labor Statistics predicts a 25% increase in Data Analyst jobs from 2020 to 2030. Over 80% of companies using big data will turn to the job market to evolve their workforces. 

Advanced Career Paths in DS and DA

Data Scientists are in demand due to their valuable contributions to companies. However, finding an individual with all the necessary skills can take time, and there is significant competition in the hiring process. Employers often offer high salaries to attract talented data scientists.

Mid-level roles may demand advanced knowledge of computer vision, algorithms, and Cybersecurity, as well as sophisticated problem-solving skills. Advanced roles, such as DS and DA managerial roles, may demand business acumen, scientific curiosity, leadership skills, and communication skills. 

Candidates for more senior roles in DS and DA often hold advanced degrees in Mathematics, Statistics, Computer Science, Engineering, or Economics. Pursuing a master’s degree in Data Science and Data Analytics can offer exceptional growth opportunities.

Knowledge for Today and in the Future

The employment outlook for Data Scientists appears favorable, with a projected growth of 36% from 2021 to 2031, exceeding the average for all occupations.

The salaries for DS and DA careers are rising with the demand for skilled professionals. Focusing on education and certifications can help professionals develop these critical skills and expand their career opportunities in the Data Science and Data Analytics fields.