The Impact of Experience and Education on Data Analytics Salaries
With the advent of the Internet and smartphone, data analytics is growing exponentially. The enormous amount of data being generated and the need for organizations to make informed decisions based on the insights extracted from these structured, unstructured, and semi-structured data has led to a high demand for professionals with skills in data analytics.
As technology advances and businesses collect more data, the demand for data analysts is expected to continue growing in the future. According to the US Bureau of Labour Statistics (BLS), the employment of data scientists will increase by 36% by 2031. The BLS report further indicates that operations research analyst jobs are expected to experience a 23% growth between 2021 and 2031.
Due to high demand and technical sets of skills, data science jobs are well-paying. As per the latest salary report by Glassdoor, the national average salary for a data scientist in Germany’s Berlin is EUR 65,000 per annum. Data scientists typically need a bachelor’s degree in data analytics or a related field to pursue a career in this domain. However, many potential employers consider applicants with a master’s in data analytics degree as they possess solid programming skills and relevant work experience.
How studying master’s in data analytics impacts experience and salary
Pursuing a master’s in data analytics is often seen as a more valuable investment than a bachelor’s degree for a variety of reasons, primarily compensation and experience.
A master’s in data analytics degree generally results in a higher salary compared to an undergraduate degree. This is because a master’s degree equips individuals with more advanced and specialised skills in data analysis, making them more attractive to potential employers. Furthermore, earning a master’s degree is often seen as evidence of dedication and commitment to the field, which can also positively impact salary expectations.
At the same time, studying for a master’s degree in data analytics provides students with a more profound and comprehensive education in data analytics, including exposure to various tools, techniques, and methodologies. This exposure can help individuals develop a more well-rounded and in-depth understanding of the field, making them more prepared to tackle complex data-related challenges.
That’s not all. Opting for a master’s degree course provides hands-on experience through projects and internships, allowing students to apply practical knowledge in real-world settings and build a work portfolio to showcase to potential employers. This practical experience can be invaluable when it comes to landing a job and advancing in the field.
Please remember that tech giants like Google, Microsoft, Meta, Amazon, Netflix, Deloitte, and Airbnb prefer applicants with a master’s degree for data scientist positions. So, taking up a master’s degree in data analytics is a better option over others for a promising future as it offers a more advanced education, higher salary potential, and opportunities for practical experience.
If you are seeking a master’s degree in data analytics, consider pursuing it in Berlin, as the capital is home to many renowned educational institutions that provide students with critical knowledge to work in data analytics. Apply now!