May 03, 2017 09:02 AM EDT
There's a big amount of data being captured, stored, and analyzed which requires a lot of people who can generate insights and make accurate predictions. This makes data science one of the hottest career choices of the moment. More so, a master's degree in data science yields a good ROI.
According to PayScale, the median salary of a data scientist is $91,000 per year while the median rate per hour is $38.35. The maximum salary cap is $142,361 per annum.
PayScale also included the companies that hire the most data scientists. Here are the top 6 employers for data scientists and how much they pay their data scientists.
Microsoft - $92K - $182K
American Express - $115 - $125K
IBM - $90 - $130K
Booz, Allen, and Hamilton - $65 - $85K
Amazon - $62 - $84K
Explorys - $61 - $81K
For those who are wondering what master's program in data science is the best, here are some from the top universities across the nation.
Master of Business Analytics - MIT
MIT Sloan offers a master's degree program in Business Analytics where students will be taught how to utilize Big Data tools and methodologies. It also introduces students to the R statistical programming language.
Master of Information and Data Science - UC Berkeley
This program is a combination of both online and offline coursework but students are only limited to three days which is some sort of an on-campus immersion process for students. Students of this program will learn how to use Python programming as well as data visualization and applied machine learning.
Master of Computational Data Science - UMC
Carnegie Mellon's Master of Computational Data offers students an opportunity to learn technology driven tools in statistics and data science, such as data mining and machine learning. It is one of the most sought after programs in data science and as expected, the acceptance rate is also low compared to other programs.
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