Home Uncategorized Do I Need a Degree to Become a Data Scientist: All you Need to Know

Do I Need a Degree to Become a Data Scientist: All you Need to Know

by theskfeed

In this new era of digitalization, many are shifting from the traditional sphere of jobs. The job scenario is going through a major change. Technology has brought multiple other opportunities that we could never think of before one or two decades. Among all of the opportunities, the job of a data scientist is a lucrative one. The responsibilities of the data scientist and the data scientist salary both are interesting. However, it is considered to be one of the highest-paying jobs. So, let’s first know what data science is.
Data Science is an area of study which includes major and minor statistics that are implemented through programming. It is gradually becoming a promising career path for talented and skilled individuals. The Data science life cycle incorporates the steps called capture, process, communicate and maintain. From data acquisition, data entry, data mining, predictive analysis to data reporting, data warehousing- everything is covered under this cycle. The job role of a data scientist has mostly come into use since 2008. At that time, there was an uprising need for data professionals specializing in organizing and analyzing huge amounts of data. So, the recruitment for data scientists started in this way.
Nowadays, as we discussed, it has become one of the highest-paying jobs for the people who love to take on challenges. You may have a question in mind that how much salary actually the data scientists do earn? We will discuss it here. But, before proceeding with that, we must look at the job responsibilities of the data scientists.
Data Scientist Salary: The Job Responsibilities
The salary is lucrative. But, to achieve that, a data scientist has to fulfill certain responsibilities. Here we have mentioned them.
Accumulating a vast amount of data, both structured and unstructured
Converting the data into actionable insights
Finding out the suitable data analytics solution to bring in the growth of the organizations
Having a grip on various analytical techniques, e.g., text analytics, machine learning, and deep learning
Using an innovative data-driven approach to solve business problems
Optimizing data accuracy and its efficiency through cleansing and validating the data
Using data visualization process to encourage more growth for the organizations
Data Scientist Salary: Eligibility
Often people ask, “Do I need a degree to become a data scientist?” Well, there is still no regular course to become a data scientist. So, no specific degree is required. Only a bachelor’s or master’s degree in mathematics or statistics or business studies or finance or economics, or computer science is enough. However, nowadays, some special institutes provide data scientist courses. You may opt for that too.
What is the salary of the Data Scientists?
As the data scientist job is one of the highest paying jobs in recent days; you will get a handsome amount of salary out of it. But, the amount varies as per the skills of an individual and the company’s annual turnover. So, the more you polish your skill, the higher the chances are to get a good amount of salary. The topmost companies in the world nowadays are hiring data scientists with high salary amounts. In India, as well, there are interesting opportunities for data scientist jobs. So, let’s first have a look at the different data scientist salaries in different companies across the world. Then, we will discuss data scientist salaries in India.
As per the recent survey on different review websites, the average data scientist salary in IBM is nearly $1, 33,841/year. And the Google data scientist salary is $ 1,48,560/ year. Microsoft data scientist salary is $ 1,34,273/year, whereas Wayfair offers nearly $ 1,10,016/year. So, the average salary for the job is $ 1628,000 in the US. However, it is an unofficial statement. The amount may vary depending on multiple factors. There are other websites paying such a huge amount of salary for the job. The skilled people are now more inclined towards these new-age career paths than any other regular streams.
Data Scientist Salary: The Scenario in India
In India, the average data scientist salary is nearly ₹698,412/year in India. A fresher in this job can earn up to ₹5000000 per year. With less than one year of experience, they can earn this much amount only because of their efficient skills. So, here skills are of great importance over experience or any other factors. Early-level data scientists usually have 1-4 years of experience. They can expect an amount of ₹610,811 per year. Professionals with nearly 5 to 9 years of experience can earn ₹1,004,082 per annum easily. A senior data scientist is offered 1,700,000 per year.
Bottom the Line
So, now you know how much a data scientist can earn. So, if you are skilled enough, explore the field. Be a data scientist, learn and earn!

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