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Many of us are concerned about the demand for data scientists from the use of platforms like ChatGPT. In recent years, companies have been laying off employees in the technology sector and the big question everyone is asking is whether ai is the reason behind this.
In today's article, we will talk specifically about data science and while there are challenges, those with data science skills have more promising career longevity.
a study of tech-layoffs/” target=”_blank” rel=”noopener”>365data science shows that data scientists accounted for 3% of those laid off by major technology companies. Other technology professionals, such as software engineers, were more affected, around 22%.
This statistic alone introduces us to the crucial role data scientists play in advancing the tech industry.
What is the role of a data scientist?
The job role of a data scientist focuses on statistics, machine learning, and artificial intelligence. His business goal is to be able to use different data strategies and convert raw data into business insights that can be used in the decision-making process.
This can range from simple data analysis to creating machine learning models.
A data scientist has skills in mathematics, statistics, and computer science with experience in a programming language such as Python or R.
How to become a data scientist?
As stated above, to become a data scientist, you will need to have a good basic understanding of mathematics and statistics along with a programming language.
What about computing? Don't I need a title for this?
In some cases yes, depending on where in the world you are. For example, in the UK many companies want a university degree. However, as demand for data scientists continues to grow, organizations understand the short supply and are more than happy to hire people with the right certifications and skills.
So what type of certifications are these?
Data Scientist Salary
So what is the money like?
According Glass doorupdated April 12, 2024: The average salary for a data scientist in the US is $157,000, ranging from $132,000 to $190,000.
Note that in this figure, only 37.8% of job offers announced their salary. Working in the tech industry, I have encountered American data scientists with a salary between $160,000 and $200,000 per year.
However, salary largely depends on a number of factors:
Factors Affecting Data Scientist Salary
- Geographic Location: Regions that tend to have a higher cost of living, such as London or New York, will generally have a higher salary. However, that being said, the increase in remote workers has allowed data scientists around the world to earn a better salary.
- Experience: Naturally, the more experience you have, the more money you will make. Gaining the right experience and skills as a data scientist will help you increase your salary as you become more competitive in a market that is already in high demand.
- Industry: The industry you work for also reflects your salary. Industries like technology, finance, and healthcare are making greater use of their data every day and require data scientists to make sense of it.
Wrapping it up
The demand for data scientists will continue to grow, and if you are someone looking to transition into the tech industry with a career that has greater chances of job security, data science is for you.
Don't worry about not having the right university qualifications, you can gain the same experience, skills and land a job with the certifications mentioned above!
nisha arya is a data scientist, freelance technical writer, and KDnuggets editor and community manager. She is particularly interested in providing professional data science advice or tutorials and theory-based insights into data science. Nisha covers a wide range of topics and wants to explore the different ways in which artificial intelligence can benefit the longevity of human life. Nisha, a great student, seeks to expand her technological knowledge and her writing skills, while she helps mentor others.
