Information is the currency of modern businesses. To create this currency, businesses rely on data analysts to collect, store, and analyze this information in a meaningful way to improve business models and revenues.
In layperson’s terms, data analysts use mathematical and analytical methods to transform incomprehensible data into profitable business decisions. These professionals gather essential information, then interpret and present the data in the form of charts or reports. Data analysts may also choose to put their survey data in online databases. Furthermore, data analysts are crucial for turning massive amounts of data into actionable business intelligence.
Thus, it’s no surprise that a Master of Science (MS) in Data Analytics is one of the most popular graduate degrees due to its high return on investment, job satisfaction rate, and salary potential.
Today, we’ll cover why you might consider earning your Master’s in Data Analytics. Plus, the projected income and salary you can expect through a bevy of interesting career options after graduation.
Why Should I Consider an MS in Data Analytics?
A Master’s degree in Data Analytics improves your skill set, broadens career options, and typically translates to a substantial pay raise.
In fact, data analytics professionals with a master’s degree earn an average of $15,000 more per year than those with only a bachelor’s degree. And for those with job titles such as data architect, data engineer, director of analytics, or data science, the earnings can go even higher.
According to PayScale, the average data analyst salary is $60,000, while the average salary for a senior analyst—a management professional leading a team of employees—is $80,000.
Though other factors can affect salary—years of experience, chosen industry, and geography—earning a Master’s in Data Analytics sets you on a successful path toward improving both salary and career prospects.
What Jobs Can I Obtain with an MS in Data Analytics?
The Bureau of Labor Statistics (BLS) reports that demand for data analysts and data administrators will rise by 9% by 2028, faster than the average growth rate. This swell is driven by higher data demands and needs for companies in all areas of the economy.
Some of the top-paying jobs with a Master’s in Data Analytics include:
- Senior Database Administrator (DBA) – A senior DBA acts as a leader within computer engineering teams to develop database architecture that accomplishes the goals of a specialized computer program. Average salary: $105,178
- Senior Director of Analytics – Directors of analytics dedicate significant time and effort to performing statistical analysis based on market data and research. Average salary: $126,762
- Business Intelligence Manager – Business intelligence managers provide data solutions related to accomplishing business goals in their organizations. Average salary: $101,578
- Information Security Manager – Information security managers create strategies to increase network and internet security across organizations. Average salary: $111,877
- Data Architect – Data architects design, structure, and maintain data while ensuring the data is accurate and accessible to other members of the organization. Average salary: $114,648
Other high-paying jobs for Master’s in Data Analytics are:
- Analytics Manager
- Senior Data Analyst
- Business Intelligence System Administrator
- Dashboard Developer
- Financial Analyst
- Healthcare Analyst
- Report Developer
- Product Manager
- Project Leader
- Risk Analyst
- Solutions Architect
What is the Expected Salary for a Data Analytics Master’s Graduate?
The BLS reports that the median salary for database administrators in 2018 was $90,000, with the top 10% with Master’s in Data Analytics degrees earning more than $138,000.
The top earners by industry were:
- Insurance carriers: $96,400
- Computer systems design: $95,900
- Data processing, hosting, and related services: $95,500
- Management of companies and enterprises: $94,900
- Educational services: $74,700
Completing a Master’s in Data Analytics is a proven way to advance your career in this increasingly popular field. However, you shouldn’t necessarily choose the first master’s program you find. Do your research to ensure the program you choose aligns with your needs and career goals.
The STEM-designated Master’s in Data Analytics and the 100% online Analytics MS degree at the University of Bridgeport both prepare graduates to help businesses make stronger data-driven business decisions.
Our program is designed by industry-expert faculty who are leaders in their chosen fields. They hold terminal degrees and bring unparalleled levels of real-world experience to the classroom. By imparting best practices and time-tested business acumen to every lecture, our faculty equips students to master the methods and practical skills this demanding field requires.
Both the Master’s in Data Analytics degree and the online Analytics MS degree require a mere 30-credit courses—the online analytics MS degree can be completed in as soon as one year.
Applications for 2023 are now open and financial aid is available. There is no better time to submit your application to the University of Bridgeport. Set yourself up for a successful career with high salary potential by earning a master’s in data analytics. Apply today!