Online Master of Science in Data Science

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Data Scientist Jobs for Master’s Graduates

The future is bright for those who pursue an advanced degree in data science due to the rapidly growing nature of the field. Businesses and organizations from a variety of fields look to data scientists to interpret information and make recommendations.

Female data scientist analyzing a computer screen with data visualizations.

This means your career options stand to be plentiful if you earn your online master’s degree in data science. These opportunities include management analyst, data analyst, data engineer, financial analyst manager, and more. Each of these jobs offers lucrative opportunities, with the U.S. Bureau of Labor Statistics (BLS) anticipating faster-than average-growth across the board.

What industries are hiring data scientists?

Because data is ubiquitous, almost every industry has a need for those who can interpret it and make data-informed recommendations on investments, decisions, pricing, and more. Specific industries where data science is particularly relevant include:

  • Healthcare
  • Government
  • Gaming
  • Entertainment
  • Manufacturing
  • Insurance

What advanced careers in data science are available?

Companies across a range of industries rely on data scientists to understand and analyze data for their success. Data scientist jobs and related careers can be found within all sectors of the workforce, including nonprofits, corporations, and government organizations.

When you earn your advanced degree in data science, you can equip yourself with the necessary skills to pursue a wide array of job options, including the following:

Senior Data Analyst

A senior data analyst serves as top-level support staff and acts as a liaison with other departments and team members. The job requires an ability to communicate effectively among multiple departments, manage a team, and analyze data.

As a senior data analyst, you may be asked to make data-driven decisions that impact your whole organization. A thorough understanding of data analysis — and how to effectively share findings with lay audiences — is critical, making this as much of a leadership role as a technical one.

Growth and Salary

According to data compiled by PayScale.com, these positions average an annual salary of $78,000, with higher compensation possible commensurate with experience. Those new to a senior data analyst role can expect a salary of around $57,000, while top-notch candidates may command an entry-level salary of $125,000. According to Investopedia, more experienced analysts may earn double or more than their entry-level counterparts.

Skills recommended to succeed include:

  • Communication and leadership
  • Ingenuity
  • Computers and technical knowledge
  • Mathematics and statistics
  • Decision-making

Financial Analyst Manager

Want to leverage data to drive important decisions? You’ll find no area better than finance to make a data-based impact on your organization.

Financial analyst managers gather and interpret information regarding revenue, profits, and investments. This is a leadership role that requires the ability to communicate clearly and provide direction to team members, executives, and other stakeholders. Financial analyst managers assist companies in making sound investment decisions, maintaining realistic budgets, and maximizing profits.

Growth and Salary

Financial analyst roles are expected to grow faster than average, at a rate of 11% between 2016 and 2026, according to the BLS. An advanced degree such as a master’s makes attaining a management position more likely, allowing graduates to earn an average of $92,600 per year, as indicated by data compiled by PayScale.com. This makes a financial analyst manager position a lucrative option for those in search of data scientist jobs.

Skills recommended to succeed in this role include:

  • Time management
  • Communication and leadership
  • Mathematics and statistics
  • Financial and investment knowledge
  • Leadership

Data Scientist

Data scientists manage various levels of software creation, data delivery, and computing to help their organization meet its goals. The tech-news digital magazine CIO.com lists the chief responsibility of data scientists as data analysis. However, these professionals are often responsible for additional duties like data mining, system improvement, and cybersecurity.

Data scientists are employed across a spectrum of industries, with some of the most common including science, healthcare, finance, and government.

Growth and Salary

Glassdoor lists data scientist jobs as the among the best in America, considering salary, job satisfaction, and number of positions available. It also has found that data scientists may anticipate a median base salary of $108,000, and InformationWeek reports a variety of emerging jobs, including work with artificial intelligence and machine learning.

Skills recommended to succeed include:

  • Programming
  • Communication
  • Ingenuity
  • Being detail-oriented
  • Computer skills

Management Analyst

The more efficient an organization, the more effective and profitable it is liable to become. As a management analyst (sometimes referred to as a management consultant), you can use data to make financially sound recommendations.

The BLS indicates that many of the data-based recommendations that management analysts make involve reducing costs and increasing revenue, as well as improving upon existing systems and staffing choices.

Growth and Salary

The BLS expects the need for management analysts to increase at a faster than average rate from 2016 through 2026, with a total growth of 14% and a median salary of $82,450. Management analysts may find work in a variety of sectors, including technical, enterprise, financial, and government.

Skills recommended to succeed include:

  • Being detail-oriented
  • Communication
  • Mathematics and statistics skills
  • Operational efficiency knowledge
  • Financial acumen

Data Engineer

Raw data can be overwhelming. Data engineers use their skills in interpreting and finding trends in data to make it easier to access and understand.

According to CIO.com, data engineers may develop dashboards, communicate trends, or compile data into easy-to-interpret reports. With the need for an in-depth technical understanding of how to use databases, including the ability to interpret various languages of code, this position is well-suited for those with an advanced degree in data science.

Growth and Salary

Data compiled by PayScale.com indicates a salary ranging from $63,000 to $131,000, with an upward trend based on experience level. The BLS expects the field of data science as a whole to experience faster-than-average growth through 2026, thereby creating a positive job outlook for data engineers.

Skills recommended to succeed include:

  • Programming
  • Communication
  • Detail-oriented performance
  • Mathematics and statistics
  • Data analysis

Learn more about the path to data science jobs.

As data collection and analysis become essential functions across industries, employers increasingly seek candidates with advanced degrees in data science.

Maryville’s online master’s degree programs can help you develop the skills to take the next step in your career and succeed in a variety of innovative positions in this exciting, fast-growing field.

To learn more about how you could become more competitive in the market for data scientist jobs, learn more about our online M.S. in Data Science.

Sources:

CIO.com, “What is a data engineer? An analytics role in high demand”

Glassdoor, 50 Best Jobs in America

InformationWeek, “6 Top Emerging Technology Jobs for 2019

PayScale, Average Financial Analysis Manager Salary

PayScale, Average Senior Data Analyst Salary

U.S. Bureau of Labor Statistics, Computer and Information Research Scientists

U.S. Bureau of Labor Statistics, Database Administrators

U.S. Bureau of Labor Statistics, Management Analysts