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Data science is a field where advanced knowledge and additional skills training can yield positive returns. While earning a master鈥檚 degree in data science comes with certain costs鈥攊n terms of both tuition and time鈥攊t can be a worthwhile investment when you鈥檙e interested in furthering your abilities to work with and parse data.听

Explore the benefits and costs of earning your master鈥檚 degree in data science so you can determine whether it鈥檚 the best choice for you.听

Is doing a master's in data science worth it? Pivoting vs. advancing聽

Your goal of earning a master鈥檚 in data science can strongly indicate whether a graduate education is the best course of action. Think about what you hope to get from a master鈥檚 program: Are you aiming to change careers or advance in your current one?聽

When you鈥檙e interested in pivoting to a career in data science, earning a master鈥檚 can be useful. Many programs emphasize foundational knowledge, making it possible for students from many different backgrounds to learn about data science. However, some programs may have specific prerequisites you will need to fulfill first.听

On the other hand, if you鈥檝e been working in data science for some time and are now interested in advancing your career, it may be best to find a master鈥檚 program that offers an opportunity to concentrate on an area, such as machine learning or bioinformatics. In other words, you may get more out of a program that provides niched concentrations or specializations.

Learn more about whether a master鈥檚 degree is worth it for your needs.

Is doing a master's in data science worth it? 6 benefits to consider

Many benefits come with earning your master鈥檚 degree in data science. While the benefits you experience will be specific to your specialty and career interests, a few common benefits you might find include:

1. Advanced roles

Becoming a data scientist typically requires a bachelor鈥檚 degree. Still, given the demand for this work across sectors, you may find that earning your master鈥檚 degree qualifies you for advanced roles that require more in-depth knowledge.听

2. Higher salary

While earning a master鈥檚 degree, in general, has been shown to increase your earning power鈥攁 median of $244 more per week in the US compared to bachelor鈥檚 degree holders鈥攄ata science as a field tends to pay more []. That means earning a graduate degree may lead to higher salaries because you qualify for senior-level or managerial roles.听聽

What is the average master鈥檚 in data science salary?

A master鈥檚 in data science can help you land a role as a data scientist, which brings in an average salary of $130,372 in 2024, according to Glassdoor []. While this is just an estimate and your salary for a master's in data science will vary depending on your location, industry, and title, earning a master鈥檚 degree often sets you up for more senior positions with a higher earning potential.

3. In demand

The demand for data scientists is extremely high, according to the US Bureau of Labor Statistics. Data scientist openings are expected to grow 36 percent between 2023 and 2033 [].

In fact, on Indeed鈥檚 list of best jobs in 2023, which ranks occupations based on flexibility, median base salary, and job satisfaction, data engineers rank second and machine learning engineers rank eighth, while software developers take up two more of the top ten spots [].

4. Resume credential聽

A graduate degree can be a strong way to stand out as a job candidate. Fifty-one percent of data scientists hold a bachelor鈥檚 degree, while 34 percent hold a master鈥檚, according to Zippia []. Not only does a master鈥檚 degree add a notable credential to your resume, but it also shows the time you鈥檝e committed to furthering your knowledge.听

5. Specialized knowledge

Master鈥檚 degree programs tend to be more rigorous and focused than bachelor鈥檚 degree programs. Whereas bachelor鈥檚 degrees take between four and five years, with half of your coursework dedicated to gaining a general knowledge of many subjects, a master鈥檚 degree takes two years and concentrates exclusively on your area. What鈥檚 more, you may have the opportunity to specialize in an aspect of data science, such as bioinformatics or big data.

6. Network聽

Enrolling in a master鈥檚 degree program can also be a great way to expand your network through the peers you meet and the faculty you work with.听

Master鈥檚 degree in data science costs

The average total cost of a master鈥檚 degree is $62,820, according to the Education Data Initiative, though degrees can range anywhere from $44,640 and $71,140 [].

It takes around two years to earn a master鈥檚 degree when you鈥檙e able to attend full-time, though several online master鈥檚 degrees in data science are optimized to take less time (around one year) when you鈥檙e able to commit a certain amount of hours per week on your studies.听

What can you do with a master鈥檚 in data science?聽

With your master鈥檚 degree in data science, you can explore many data science jobs or continue your educational pursuits by applying for a PhD in data science. Take a closer look at each option.听

Master鈥檚 in data science jobs

While a master鈥檚 in data science won鈥檛 automatically land you a role, it does provide baseline credentials for a number of exciting careers. The roles below illustrate some of the jobs you can pursue once you鈥檝e earned your master鈥檚 degree in data science. Learn more about the kinds of salaries you may qualify for once you earn your master鈥檚 degree in data science:

• Senior data scientist: Working as a data scientist typically requires a bachelor鈥檚 degree, but you may qualify for more senior-level roles with a master鈥檚. Data scientists typically design algorithms to collect and interpret data.听

• Data engineer: A data engineer designs and builds systems to handle a lot of data so that data scientists and data analysts can work with it.听

• Data architect: A data architect drafts frameworks businesses can use to handle data, often with the goal of making sure it meets any compliance requirements.听

• Machine learning engineer: Machine learning engineers often sit on data science teams. They design, build, and maintain machine learning algorithms and systems.听

• Statistician: Statisticians can work for public or private organizations and often look for trends in data by collecting and interpreting it.听

• SQL developer: This role sits in between software development and database engineering. SQL developers often work to create or maintain SQL-specific databases.听

PhD in data science

A PhD in data science is a terminal degree鈥攐r the highest academic degree you can earn in a field. Many data science professionals go on to earn their PhD to pursue cutting-edge research or teach at the university level. These degrees tend to take around five years to complete, though it can be longer depending on your area of research.听

Best master鈥檚 in data science alternate education pathways聽

Whether you鈥檙e interested in beginning or advancing your career in data science, you may find that completing projects, taking individual courses, and other self-guided learning can help you achieve your goals.听

• Certificates: Earn a Professional Ccertificate in data science or an area of data science to strengthen your skill set. Certificates typically take one year or less to earn, focusing on practical knowledge and skills development.听

• Courses: You can take massive open online courses (MOOCs), many for free, to acquire or improve your knowledge in data science.听

• Projects: Find projects to build your skill in a particular area and demonstrate your knowledge. You can find ideas on YouTube or enroll in a Guided Project on 糖心vlog官网观看.

• Books: Read books on the area of data science you鈥檙e interested in learning. Not sure where to start? We鈥檝e compiled lists of books on data analysis and books on machine learning to help point you in the right direction.听

Explore online degree programs in data science on 糖心vlog官网观看聽

Earning a master鈥檚 degree in data science can help you build valuable professional skills that open several exciting career and educational opportunities. To earn a degree online, at your own pace, consider master鈥檚 degree programs from highly-ranked universities on 糖心vlog官网观看. Explore the University of Michigan鈥檚 Master of Applied Data Science, University of Colorado Boulder鈥檚 Master of Data Science, Illinois鈥� Master of Computer Science in Data Science, or the聽 Master of Data Science from Illinois Tech. You can often enroll in a course before applying for the full program.听

You can also check out Professional Certificates on 糖心vlog官网观看, such as IBM鈥檚 Data Science Professional Certificate.