Becoming a data scientist is an exciting choice. After all, it’s a relatively new career path that’s directly involved in artificial intelligence (AI), an ever-growing resource that is becoming an essential part of B2B and consumer-facing industries alike.
But what career paths do you have as a data scientist, and how much money can you make in each one?
Let’s take a look at some of the career paths that data scientists have in AI.
1. Data Analyst
The salary of a data analyst is around $70,000 annually.
Data analysts focus on collecting, cleaning, and analyzing the data that will be used in the development of AI platforms, so they do a lot of the groundwork that supports this innovative technology.
Statisticians make just over $86,000 per year.
These professionals develop algorithmic and statistical models that are then used to help AI platforms develop logic. This includes mathematical formulas that help with crucial AI processes like hypothesis testing.
3. Business Intelligence Developer
The average wage of a business intelligence (BI) developer is $94,000.
BI developers are essential in the development of AI tools and models. Simply put, these professionals create tools and platforms that support the complex processes required for AI platforms to function properly.
4. Data Modelling Professional
Data modelers break the $100,000 per year mark on average.
As the name suggests, data modeling experts create data structures and schemes that are essential for the functioning of AI applications.
5. Big Data Engineer
Big data engineers make approximately $125,000 annually.
Engineers who work with big data are responsible for managing the entire infrastructure and technologies that support processes involving large volumes of data that are necessary for AI applications to work properly.
6. Data Scientist
Data scientists who don’t branch out and choose to adhere to this specialty generate almost $125,000 per year.
These professionals play a similar role to analysts, but data scientists cover a broader scope during their research because they are involved in various steps of the model evaluation and validation processes.
7. Machine Learning Engineer
Machine learning (ML) engineers are the best-paid group in this list, averaging around $150,000 per year.
ML engineers develop and deploy AI and machine learning models. They train, fine-tune, and maintain these different models to ensure that they can fulfill their purposes effectively, so their support is essential to creating an AI platform.
What Factors Affect the Income of a Data Scientist?
Here are three major factors that influence your data scientist salary.
- Location: Your location will influence the average salary offers you receive. For instance, living in Austin, Texas is almost 39% more affordable than in New York City, so you can expect to earn more in the latter.
- Experience: Do you have hands-on experience as a data scientist? If yes, you may hold a slight advantage that may help you get better jobs and earn a bit more money.
- Skills and Education: The better your school and the more courses you take, the better it will be for both your resume and from a practical perspective.
How to Get the Best Data Scientist Jobs
The best data scientist jobs are often awarded to the most skilled professionals, but you also know how to put yourself in a position where you’re considered for the open position.
As such, you should consider both local opportunities in your country and region as well as jobs beyond these borders.
Some job postings may only be available to professionals in specific locations. However, you can always use a virtual private network or VPN that allows you to mask your location to perform research.
Consider getting a static IP with a VPN to perform research and access geo-restricted content, as this may increase your chances of finding a great opportunity.
To Wrap Up
Needless to say, as a data scientist, you have a lot of great career paths. We live in the golden era of modern technology, which also means that new and exciting opportunities are appearing across many fields and specialties.
Whether you want to be a data analyst, statistician, business intelligence developer, or a similar professional, your data scientist career is full of great opportunities.
Just make sure to acquire experience, put yourself in a good location, and develop great skills to help you stand out from the crowd.
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