JOB OPPORTUNITIES & CAREER PATHWAY IN DATA SCIENCE
If you are thinking of becoming a data scientist, the outlook is rosy. Glassdoor ranks data scientist as the best job in the US in 2019, earning a median salary of $108,000. It is one of the hottest careers at the moment and the demand for data scientists is set to increase. With an exponential increase in data comes a greater demand for data scientists. It is estimated that the entire digital universe will reach a mind-boggling 44 zettabytes by 2020. To put 44 zettabytes into perspective, it means there will be 40 times more bytes in cyberspace than there are stars in the observable universe.
Data Scientist – The sexiest job of the 21st century. With the surge in data and its correlated fields, the job of a Data Scientist has become the most sought after job. Many IT professionals and academicians who have worked in quantitative fields want to become data scientists. The demand for data scientists is only increasing and will continue to increase in the future. There will be a sharp increase in demand for data scientists by 2020. According to IBM, an increment by 364,000 to 2,720,000 openings will be generated in the year 2020. This demand will only grow further to an astonishing 700,000 openings. The requirement for the number of data scientists is growing at an exponential rate. This is resulted by the emergence of newer job roles and industries. This is supplemented by the increase in data and its various types. The number of roles and data scientists will only increase in the future. Some of the positions in data science such as data engineer, data science manager & big data architect. Moreover, the financial and insurance industries are becoming major players for recruiting data scientist. As more and more institutes are growing to train data scientists, it is expected that data literacy will become abundant in the world. Data Science is predicted to grow over the next decade. It is a staggering fact that over 90% of the data in the world was generated in just 2 years. It is unimaginable to realize the amount of data that will be generated in the next decade. The demand for data scientists will rise by 28% by 2020 alone. More and more industries are becoming data hungry and they need data to hold specialized data scientists who can craft products for the customers. About 11.5 Million jobs will be created by 2026 according to U.S.
Bureau of Labor Statistics. There will be a concise definition that will be imparted to data science that will enable the data scientists to handle corresponding operations. Deeper career paths will be developed in data science. Furthermore, a cleaner set of rules and regulations will differentiate pure data scientists from others. There will also be a diversification of roles in data science over the next decade. Currently data science is an uncharted territory that is often misrepresented by various industries. The job role of a data scientist, therefore, suffers from this lack of representation. This is because currently both SQL operators and Data Scientists come under the same general definition of data science. This problem will fade away as industries will create job roles that are specified only to the specific data roles. Since the field of data science in itself is young, data scientists do not hold years of experience behind them, as compared to other IT related field. In the next decade, data scientists will see a much greater distinction between Senior Data Scientists and other positions. As a result, there will be a much more defined hierarchy of data scientists.