Nowadays every company is looking for skilled professionals to solve their problems related to data. Therefore data science job opportunities are growing day by day in the job market of data science. Data science has better scope in the future because of that itself the demand for skilled data scientists is very high.
This graph shows the number of job openings for data scientists. It clearly shows that the data scientist’s job opportunities are increasing from the year 2015 to 2022. It clearly tells data scientists’ jobs have a growing trend. According to the reports, this tread will be there in the coming years also.
Statistics say that almost 95% of data scientists’ jobs are full-time and 5% (approx) jobs are part-time. To get a data scientist job some skills are very essential. The most important skills needed for data scientists are python, SQL, R, Hadoop, Java, SAS, Spark, MATLAB, Hive, etc. it doesn’t mean that you have to master all these to get a data scientist job. just mastering three languages like python, SQL and R give a strong base for data scientist jobs.
A lot of trends are emerging all over the world. These emerging trends give a lot of scope for data science-related jobs in 2022 and the future. Now let us discuss the data science job trends which are becoming very popular in 2022 and the future.
As we all know data science and many other fields which are related to data science for example artificial intelligence are becoming very popular. These technologies are currently used by many big companies like Google, Apple, Netflix, Facebook, etc. It is sure that many more companies will adopt decision intelligence in the future.
Most companies have their own cloud. In order to obtain useful insights from data cloud storage is used by many companies. Sometimes the cost of data analytics is not affordable, especially for small companies, so the use of cloud services makes data science more democratic.
There are different types of data. Video, audio, image, texts, numbers, and feedback that is obtained from customers are different types of data. Analyzing these kinds of data is very difficult. But for a company, all type of data is very important in order to get maximum profit. The branching will be done by the data analytics which will branch textual data to all other forms of data. In order to analyze the sentiment of data, sentiment analysis is used which is also a branch of artificial intelligence. From this, it is very well understood that the scope of data science is increasing.
In order to analyze data and to draw useful insights from the data more skilled data scientists are recruited by the financial and insurance industries. It helps the company to reduce the loss and increase the profit.
Technology is improving day by day and the use age of social media by people is also increasing. Data is precious and it should be managed properly to get better profit hence the demand for data scientists will also increase. So most companies need skilled data scientists in the coming years and the scope for data science will be very high.
The only reason behind this is a high amount of data is produced in each second. Companies realized the importance of data. So each company wants to utilize the data to improve their business. When we are looking into different reports it says that the demand for data scientists are increasing in various sectors like health care, telecommunication, banking, financial, and insurance sectors to manage the unimaginable data. Hence the demand for data scientists is high. Since the demand is high the salary package for data scientists is beyond one’s expectation.
The annual salary of a data scientist is Rs 708,012. Which is high compared to web developers, software engineers, and machine learning engineers.
In India as well as in other countries, there is a correlation between the salary provided for data scientists based on their degrees. When the degree is high then the salary is also high. Especially the Ph.D. holders have the highest salary in each and every country. To get a high salary all should go beyond the master's which is required to be a data scientist and along with that, they should have great knowledge in many languages such as PHP, Node.js, R, and Python. It is said that 10.7lakhs are provided for a data scientist if he is an expert in the language python along with his master's or Ph.D.
More experience in the relevant field will provide more salary for a data scientist. Suppose a data scientist's job experience in their respective field is less than 1 year then his salary is around Rs500,000 (approx) per annum. If they got 1 to 5 years' experience then the salary will be around RS 710,811(approx) per annum. More than 10 years of experience will provide Rs 2,008,052 for a data scientist.
Salaries will be very high in big cities both in India as well as in other countries. The salary provided for data scientist in India will be less compared to other countries such as Germany, Italy, the USA, the UK etc.. When we are comparing the salary of a data scientist within India itself, it may vary. For example, very high cities like Bangalore, Chennai, Mumbai, Pune, etc of India provides more salary for a data scientist.
Different companies provide different salary packages. So many companies are looking for skilled data scientists. Among them, some companies provide high salaries for data scientists. In India the company named Oracle provides the highest salary (Rs 21,26,957 approx) , the company JP Morgan provides 18,90,000 approx, Intel provides Rs 18,50,000, Amazon with rs 15,00,000, IBM with rs 12,00,000 and Accenture with rs 11,10,000. In India, the company named Oracle provides the highest salary and the company named Accenture provides the least salary compared to other countries. Studies say that outside the country India also the company Oracle provides the highest salary.