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Tuesday, October 26, 2021

Is A Masters In Data Science Worth It?

Data science has recently become one of the most popular choices among graduate students. The employment increase of computer and research scientists, including data scientists, was 15 percent from 2019 to 2029. The primary reason why thousands of graduates who studied overseas have high beginning salaries in the 6-figure range (>$100,000) after completing a Master’s degree from a prestigious university is the scarcity of data scientists.

There are numerous ways to get data science skills. While universities offer degrees in data science, education firms also provide immersive courses in the same fields that take considerably less time. Getting into the best Data Science course in Chennai can give every student a new edge, and each student will find their dream career very beneficial.

Who is a Data Scientist?

Data scientists are big data experts who collect and analyze enormous volumes of both structured and unstructured data. Computer science, statistics, and mathematics are all included in a data scientist’s role. They evaluate, process, and model information and then interpret the results to develop action plans for businesses and other organizations.

What Is The Significance Of Data Science?

Data Science, which isn’t rocket science, is a composite of statistics and computer science that enables learners to make sound and informed decisions in the long term using problem-solving skills. You need to master and know how to use computing gracing with interpersonal abilities. All of this you can learn through a comprehensive full-time program with a Master’s degree in Data Science and be a successful data scientist.

About Data Science Master’s Degree

Some students decide to expand their education and get a deeper understanding of the fundamentals of data science. It depends really on your needs. If you want to specialize in a particular area, a master’s degree can be helpful. 

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Are Your Educational Backgrounds Helpful In The Field Of Data Science?

It is undoubtedly worth pursuing a master’s degree program in data science. Mastering this field is one of the best ways to progress professionally to live in this technology-oriented world. The most important thing, however, is having relevant skills in this area.

The level of education is based on skills in data science (advanced degrees are linked to higher skills) and solely for specific types of data scientists.

To land as a data scientist, you should at least need a bachelor’s degree in data science or computer-related field, while most jobs in data science need a master’s degree.

Facts

  • Data professionals categorized themselves as business executives or creative people who have a master’s degree (58 percent hold this degree). Compared to your colleagues who have a 4-year degree, a Master’s degree puts you apart regarding your business skills.
  • Most data professionals who classified themselves as developers hold a four-year degree (43%) and a Master’s degree (52%). A Masters Degree does not necessarily provide an edge for the data scientists who are a developer over other developers with a 4-year degree.

Therefore those with Masters in Data Science are more likely to be chosen than people with a degree in Statistics or computer science.

A Robust ROI Case For Studying A Degree In Data Science

A degree in data science will help students to remain competitive and distinguish themselves from the crowd. The average cost of a two-year data science program is between $50,000 and $60,000. That makes the ROI quite attractive given the high average starting salaries of six figures. A Master’s degree in data science from an excellent international university can assist students in grabbing the various changes in this field even after the post-pandemic.

Know The Reasons To Earn A Master’s Degree In Data Science

Academic qualifications may be more significant than you think. Is a master’s degree required for most jobs in data science? It’s dependent on the job, and some data scientists have a Bachelor’s or graduated from Bootcamp. 

It is an excellent field to work in because of its vast potential as data is called “the oil of the digital economy”. Due to the constraints of any hardware component, the focus has shifted for a considerable amount of time from hardware to software, with data becoming crucial. It has led to the increased popularity of data science.

  • Many career opportunities

In more than just big IT firms, data expertise is required in banking, automobile, energy, health, transport, retail, and nearly any other industry. As data drives decision-making at all levels – from regional offices to boardrooms – graduates who hold Data Science degrees have direct contact with the strategic decision-making process.

  • Incredible job aspects 

There is high demand for data scientists, and companies do not find enough students to fill the opportunities. The number of Master’s degrees in data engineering and analytics within universities has increased to meet the growing demands. University graduates now have a secure position and may demand high salaries with their potential employers battling them. Your chances are significantly better with a postgraduate degree.

Factors To Consider Before Pursuing A Master’s Degree Data Science Program

Two factors need to be considered while pursuing a master’s degree program in data science:

  • Cost

The Data Science master’s program is expensive. Despite this being a lucrative field, and though one might earn a lot more than they spent on the course, it should be worthwhile; otherwise, the money spent would have no meaning.

  • Time-consuming

A master’s degree typically takes around two years, and it would be impossible to work alongside this course in most circumstances. Hence, you may miss earning opportunities or experience trouble in following this course.

Final Verdict

Not surprisingly, Data Scientist is one of the fastest-growing job titles globally, and there is tremendous demand for qualified data scientists. Regardless of the dispute, one point is clear that universities worldwide gain significantly from this growing interest in higher education degrees. The universities were, therefore, able to attract students and earn sufficient money. Many universities have begun specialized Master’s degree courses in data science and analytics. Those who desire to be a data scientist or switch from another profession to a data science profession strongly consider these university degrees the only pathway.

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Kiara Dutta
Kiara Dutta comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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