Data Science Skills To Boost Your Salary - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Data Management // Big Data Analytics
News
11/17/2015
07:06 AM
Jessica Davis
Jessica Davis
Slideshows
Connect Directly
Twitter
RSS
E-Mail
50%
50%

Data Science Skills To Boost Your Salary

Are you a data scientist wondering how your compensation stacks up to your peers? Or are you considering a career shift to data science? Here's a look at how much you can expect to earn.
Previous
1 of 12
Next

(Image: penguiiin/iStockphoto)

(Image: penguiiin/iStockphoto)

Data scientist may be the hottest job title in the IT and overall technology space right now. The number of data scientists has doubled in the last four years, according to a recent study of LinkedIn profiles performed by cloud analytics firm RJMetrics. Career site Glassdoor recently ranked data scientist as No. 1 on a list of top jobs that offer the best work-life balance. (You can see the rest of the list here.)  

On Oct. 20, Glassdoor reported that it had 1,315 listings for data scientist job openings. According to Glassdoor, data scientists can expect a salary of about $115,000.

[Looking for more on skills to boost your career? Read 10 Skills CIOs Need to Survive, Thrive in 2016.]

So, if you are considering adding data science or analytics skills to your resume, you may find your value in the IT jobs market increase. If you are thinking about making a full career switch, you will be joining a small but fast-growing profession.

O'Reilly, which runs the Strata+Hadoop events, recently provided some additional data points for those considering a career in data science. The company published its third annual Data Science Salary Survey. The report covers compensation and also looks at trends in tools and job tasks for those in the data science field.

To compile the O'Reilly report, the authors used an online survey to collect information from more than 600 respondents who ran the gamut of job titles. Only about one-quarter of the participants had a job title that explicitly identified them as data scientists.

Others went by titles that included analyst, engineer, developer, architect, business intelligence professional, and statistician. Executives and management were also represented in the survey. Other participants were students, consultants, and professors. About two-thirds of those who participated are based in the US.

O'Reilly's authors ran several different models, as data scientists do, to look at the results in different ways. What follows are the results from a few different models, but we mostly used the results from the final model. This model excludes those who self-identified as upper management from some of the analysis, and also controlled for other factors. We recommend reading the full version of the report for more information.

O'Reilly notes that understanding salary is tricky:

Statistics from an anonymous online survey based on a self-selected sample doesn't exactly put the "science" into "data science," but such research can still be valuable -- and let's face it, much of the other information that might inform one's understanding of industry trends is in the same assumption-violating category.

Want to make this survey better? O'Reilly encourages data scientists to take the current survey. You can find it here.

But before you do that, take a look at the compensation, tools, and trends for data scientists in 2015. Once you've reviewed these findings, tell us what you think in the comments section below.

Are you currently working in a data science role? Does your compensation stack up? If you're not currently working in a data science-related position, is it something you're considering adding to your skill set in the year ahead?

**New deadline of Dec. 18, 2015** Be a part of the prestigious InformationWeek Elite 100! Time is running out to submit your company's application by Dec. 18, 2015. Go to our 2016 registration page: InformationWeek's Elite 100 list for 2016.

Jessica Davis has spent a career covering the intersection of business and technology at titles including IDG's Infoworld, Ziff Davis Enterprise's eWeek and Channel Insider, and Penton Technology's MSPmentor. She's passionate about the practical use of business intelligence, ... View Full Bio

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Previous
1 of 12
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Page 1 / 3   >   >>
shamika
50%
50%
shamika,
User Rank: Ninja
11/28/2015 | 8:59:22 PM
Re: More Meetings = More Money
However I have also seen failures even when the higher management conducts meetings. I think the success depends on your personality and soft skills too. What do you say?
shamika
50%
50%
shamika,
User Rank: Ninja
11/28/2015 | 8:57:07 PM
Re: More Meetings = More Money
@nomii true. With the experience you will know how to handle a meeting in an effective way. The success of the meeting always depends on what you talk and how you convince them towards your product/service. 
jries921
50%
50%
jries921,
User Rank: Ninja
11/27/2015 | 12:38:51 PM
Re: More Meetings = More Money
Such would be the nature of the free market (which is not entirely free, but...).  Loyalty and stability are good things, but as Chesty Puller said long ago, loyalty up never exceeds loyalty down; and the latter appears to be seen as not in keeping with the currently fashionable investor-centric business model,.
nomii
50%
50%
nomii,
User Rank: Ninja
11/26/2015 | 2:52:00 AM
Re: More Meetings = More Money

@Jries very true. But the hunger of making more money never ends in an individual. We have witnessed many individuals switch their jobs to earm more money. And many firms try to get a good supervisor out of other firms by offering him good package then what he was already earning. I think in one sense its good for individual but what about company and its loyality. What is your opinion?

jries921
50%
50%
jries921,
User Rank: Ninja
11/24/2015 | 10:31:46 PM
Re: More Meetings = More Money
I think that was my point.  Senior professionals, especially those with supervisory responsibilities (not all senior analysts have them), tend to both make more money and spend more time in meetings.  But attending meetings does not cause data scientists or most other professionals to earn more money.
jries921
50%
50%
jries921,
User Rank: Ninja
11/24/2015 | 10:26:51 PM
Re: More Meetings = More Money
We're talking about data analysts and statisticians (now fashionably grouped together as data scientists) here, not salespeople.  Admittedly, every self-employed person is also a salesman and the boss is always salesman in chief, but I was under the impression that the article was discussing meetings with managers and colleagues (the usual sort that employers insist on to make sure that the work stays coordinated).  Meetings with customers are in a different category and most analysts (other than independent consultants) don't make sales calls.
nomii
50%
50%
nomii,
User Rank: Ninja
11/24/2015 | 10:00:22 PM
Re: More Meetings = More Money
@Jries "I doubt that participation in meetings per se increases one's earning capacity".

I agree that in my opinion these kind of meetings have anything to do with increase in your financial status. Its a job years and your experience that will get it high. With seniority responsibility increases and you are paid according to your seniority or service structure. Initially in job you are an operator/ worker and later supervisor and than manager and hierchy goes up. With the seniority your pay also goes with it. What is your opinion. I hope I have got your point right?

shamika
50%
50%
shamika,
User Rank: Ninja
11/24/2015 | 9:48:28 PM
Re: More Meetings = More Money
Valid point. However don't you think more meetings will lead towards more money? Having more meetings will enable you to sell or market your product/service better. What is your idea?
shamika
50%
50%
shamika,
User Rank: Ninja
11/24/2015 | 9:45:02 PM
Re: Negotiation Skills
@nomii. I agree with you. It is always important to get the basic concept right. Having the basic knowledge will definitely help in improving and increasing the efficiency.
jagibbons
50%
50%
jagibbons,
User Rank: Ninja
11/23/2015 | 7:15:09 PM
Re: More Meetings = More Money
I agree that it isn't causal. But I'm not sure the supervisory issue exists in the specific case of a data scientist. In general, a supervisor is going to make more. In a highly specialized field, not necessarily so.
Page 1 / 3   >   >>
Slideshows
Reflections on Tech in 2019
James M. Connolly, Editorial Director, InformationWeek and Network Computing,  12/9/2019
Slideshows
What Digital Transformation Is (And Isn't)
Cynthia Harvey, Freelance Journalist, InformationWeek,  12/4/2019
Commentary
Watch Out for New Barriers to Faster Software Development
Lisa Morgan, Freelance Writer,  12/3/2019
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
The Cloud Gets Ready for the 20's
This IT Trend Report explores how cloud computing is being shaped for the next phase in its maturation. It will help enterprise IT decision makers and business leaders understand some of the key trends reflected emerging cloud concepts and technologies, and in enterprise cloud usage patterns. Get it today!
Slideshows
Flash Poll