- Data scientist
- AI Engineer
- Applications Architect
- Business Intelligence (BI) Developer
- Big Data Engineer
If you rely on your job to be able to provide for everything that’s important in your life, then it would stand to reason that you would do anything possible to stay committed to your job. You would want to continue to hone your skills to help you climb the success ladder.
That said, there is also a saying that if you follow your passion and work towards it every day then you don’t have to work a single day. Business stalwarts like Elon Musk, Andy NG, or Cristiano Ronaldo have one thing in common- they followed their passion for success.
There is a lot of money in the world and technology has brought us new ways to find, earn, invest and spend them. And data science is one of these ways. Data science or statistics can get you some really high-paying jobs if you are right at it.
If you are looking to start a data science career, here’s a list of the five highest-paid jobs in Data Science.
For four years in a row, a data scientist has been nominated as the number one job in the United States of America. It’s obvious because of the numerous benefits and business values that a Data Scientist brings to an organisation.
The US Bureau of Labor Statistics has reported that the demand for Data Science skills will soar by 27.9% in the next five years. The irony is that demand is rising by leaps and bounds, but supply is nowhere near the market.
Daniel Gutierrez, Managing Editor of inside BIGDATA, summarises that the scarcity of Data Scientists leads to new challenges. If you work with data, enjoy solving math problems, and are curious about the unknowns based on stats, then an advanced professional course in Data Science is the right fit for you.
Data scientists are knowledgeable in several areas, including mathematics or statistics, programming languages like Python, R and Matlab, data manipulation, analytics, and visualisation tools such as Tableau and D3.js.
The new slogan of companies these days is, “Not interested in Schemata, just hand us some data.”
Data Science Specialists are required in practically every work area, and not just in innovation.
The five top tech organisations such as Google, Amazon, Apple, Microsoft, and Facebook are on the lookout for skilled Data Scientists to fill their vacancies.
The dominance of data science can be seen in a number of ways. Data Science is a broad field spanning multiple areas. Data scientists might work on mathematics or statistics, programming languages like Python, R and Matlab, data manipulation, analytics, and visualisation tools such as Tableau and D3.js.
Analyst reporting to a Vice President of the CIO of a company makes an average salary of $116,050 per year. The additional income comes from bonuses and commissions, which can add up to 27% on basic annual salary.
- AI Engineer-
AI is going to transform the world entirely by 2050. It will be an integral part of every industry. Who knows, maybe even in your household. Many technology companies are investing their time and money to leverage AI for maximum benefit. Even a Chatbot is covered with the lense of Artificial Intelligence.
This might be an obvious point, but still worth mentioning- you need to know programming languages like Python, R and Matlab. The best part is that companies are moving towards more of a data scientist who can program and analyse huge datasets rather than someone who just knows how to use tools like R or Python.AI engineers will continue to be in high demand and should see a decent salary as well, with an average of $123,000 per year for the top 10% earners.(source)
When discussing AI jobs, a study by Indeed found that salaries and responsibilities vary greatly depending on the kind of work being done. With the most recent update to AI Salary Reports, we did a deep dive into the artificial intelligence job salaries in India.
Entry-level Artificial Intelligence salary varies widely in India, but AI Engineers can earn an annual salary of around Rs. 6 lakhs (~ $100k) while those with more experience can expect to command annual salaries exceeding 50 lakhs (~$120k).
The national average salary of AI engineers in India is ₹8,40,107 per annum.(source)
- Applications Architect-
To become an Application Architect, you need to have the right combination of skills and experience. The role requires a high level of knowledge in both business and technology, as well as having a strong background in Application Development. You need to have a Bachelor’s degree in CS, IT, or another field that is relatable.
The role of an application architect is to track the conduct of applications like spreadsheets and word processing programs used inside a business. Application modellers are specialised in building different parts of an application, such as the user interface or the backend architecture.
The national average salary for an Applications Architect in India is ₹18,25,081 per annum.(source)
Business Intelligence (BI) Developer-
BI engineers and developers are needed to create business intelligence software that will help in addressing a certain problem. BI engineers must also make sure that this software enables analysts and decision-makers to get accurate data for informed decisions.
BI technology is instrumental for businesses that need the ability to analyse data. This role involves creating plans and methodologies to help business clients find the data they need to make better decisions. High-end and tech-savvy, they use BI tools or create custom BI applications to help make their frameworks more understandable.
The average salary of a BI Developer in India is ₹5,52,196 per annum.(source)
- Big Data Engineer-
Big Data has become a crucial part of data analysis in professional fields, as evident with the increase in salaries for those who work to process and analyse data accordingly. Business intelligence engineers are accountable for preparing enormous data arrangements and have knowledge of Hadoop-based advances like MapReduce, Hive, MongoDB, or Cassandra.
Big Data Engineers likewise have a deep understanding of information warehousing and NoSQL passages. Giant data engineers have a wide understanding of Java, as well as experience with other programming languages like Python, SQL, and Scala.Glassdoor statistics indicate the average salary for a data engineer in the United States is $181,773. According to Indeed, the average salary for a Big Data Engineer is $94,944 to $126,138.(source)
Data science specialists are needed to code for complex information systems and manage huge amounts of data. Data science includes the utilisation of statistics, hypothesis testing, knowledge representation, and machine learning to develop computational procedures that improve business efficiency. Businesses need people who can translate data into actionable decisions by compiling it in a meaningful way.
Data science specialists are needed in every industry, including healthcare, technology, manufacturing, and business. Job opportunities in the field of Data science are on the rise because companies need people who understand the value of data and how to use it effectively to transform their businesses.