On the off chance that you possess this agglomeration of skills, you might have what it takes to be a data scientist. Glassdoor reports that the average salary for a data scientist is $118,709 versus $64,537 for a programmer. The current school year won’t be over for another five months and 50% to 75% of its students already have firm job offers.
Glassdoor reports that the average salary for a data scientist is $118,709 versus $64,537 for a programmer. A McKinsey study predicts that by 2018, the U.S. could face a shortage of 140,000 to 190,000 “people with deep analytic skills” as well as 1.5 million “managers and analysts with the know-how to use the analysis of big data to make effective decisions.”
The field is so hot right now that Roy Lowrance, the managing director of New York University’s new Center for Data Science program says he thinks it has peaked. “It’s probably in a bubble,” he says. “Anything that gets hot like this can only cool off.” Still, NYU is looking to expand its data science program from 40 students to 60 over the next few years. The current school year won’t be over for another five months and 50% to 75% of its students already have firm job offers.
The hope is that such professional will unearth new information that will prompt new streams or revenue or let a company streamline its business. Pratt & Whitney, the aerospace manufacturer, now can predict with 97% accuracy when an aircraft engine will need to have maintenance, conceivably helping it run its operations much more efficiently, says Anjul Bhambhri, VP of Big Data at IBM.
Not everyone has to go through a college course to become a data scientist, though. A company called Metis, for instance, started offering a 12-week data science boot camp in September. The program, in New York, costs $14,000 and admission is highly competitive. Metis Cofounder Jason Moss says that about half the students come in with a Master’s or PhD.
If the idea of spending much of your day programming and analyzing dashboards for relevant information appeals to you, then you might have the makings of a computer scientist. If you’re merely motivated by the salaries, though, you may have a tougher time. Consider: People who fall into this line of work often spend their spare time writing programs and analyzing data just to amuse themselves. Read more…