Is data science really is a rising career in 2020? And if it is – why and for how long? The answer to the first question is simple: yes, data science is without a doubt a rising career, even in 2020.
The reason is simple: data science operates under the same supply and demand economic principles as the rest of the business world. To learn more about how that secures the data scientist career and high salary ($100,000+) in 2020, watch this video!
According to Glassdoor, 2016 was the first year in which “data scientist” was the ‘Best job’ on the market. And after that? Well, it was in the lead in 2017, 2018, and 2019 as well! With a mean base salary of more than $100,000, being a data scientist seems like the dream job of this century. But why is that?
Of course, like any other business-related phenomenon, it follows the basic laws of economics – supply and demand. The demand for data science professionals is very high, while the supply is too low.
Think about computer science years ago. The internet was becoming a “thing” and people were making serious cash off it. Everybody wanted to become a programmer, a web-designer or anything, really, that would allow them to be in the computer science industry. Salaries were terrific and it was exceptional to be there. As time passed by, the salaries plateaued as the supply of CS guys and girls started to catch up with the demand. That said, the industry is still above average in terms of pay.
The same thing is happening to the data science industry right now. Demand is really high, while supply is still low. And, as stated in an extensive joint research performed by IBM, Burning Glass Technologies, and Business-Higher Education Forum, this tendency will continue to be strong for the years to come.
This, by itself, determines that salaries will be outstanding. Consequently, people are very much willing to get into data science…