(and their median salaries)
Are you thinking of a career change? A lot of folks looking for a new direction are finding success in a shift to data analytics. If you have an eye for detail and a drive to solve the problems facing today’s businesses, a master’s in Data Analytics is a direction to consider.
Modern technology now provides industries of all kinds with the ability to gather vast amounts of data. But data requires more than just flashy dashboards and reports. In order to make better, data-driven business decisions, employers require hybrid IT/business professionals to make the data meaningful. Let’s take a look at a few career options that would be open to someone who holds a master’s in Data Analytics.
1. Data Analyst
A data analyst is the perfect entry position for many new master’s graduates. And with a typical starting salary hovering around $50,000 it’ll be sure to pay the bills as well.
A typical day in this job will include:
- Data Collection. Collecting data from reliable, accurate and safe sources. You’ll then record this data and store it in existing databases.
- Data Cleaning. Not every piece of data collected is used in interpretation, analysis, or decision-making. An entry-level data analyst performs data cleaning through different tasks that make the data both usable and standardized.
- Making Reports. After conducting basic analyses, you’ll have to write reports about your findings, primarily using tools like Power Bi and MS Excel (both programs covered in most Data Analytics degree programs).
2. Chief Data Officer
After serving a few years as a data analyst, you may decide to move on to a chief data officer position. This job is for those with some time in the field, cutting their teeth at an entry-level job. Salaries can range from $135,000 to $1,000,000 with the median salary of $282,500.
A typical day in this position might include:
- Creating data management systems for secure and efficient data processing and collection
- Establishing an organizational culture that eases data sharing to make informed decisions
- Ensuring that information access is authorized
- Developing meaningful systems for data analysis
3. Data Scientist
A data scientist is another typical entry position for those beginning their work in data analytics, after earning a master’s degree. The average salary of this position is slightly higher, at $108,660 per year, according to the Bureau of Labor Statistics (BLS).
A typical day in this job will include:
- Creating frameworks for data analysis to happen
- Implementing statistical models and algorithms
- Running data testing and experiments
- Continually optimizing frameworks to better analyze the data
4. Logistics Analyst
With a master’s degree, you can also enter data analytics as a logistics analyst. The salary range for this entry-level position is between $44,000 and $83,000. The BLS reports a national average wage of $79,230 per year.
A typical day in this job will include:
- Using data to identify potential profit loss within the supply chain
- Leveraging data to develop cost-saving solutions
- Making production, distribution, and delivery of products more efficient
5. Big Data Architect
We all hear about “big data,” usually in a negative way. Becoming a big data architect can help you not only understand how big data works, but also be part of the solution to use data ethically and responsibly. The average salary of this position comes in at $119,249.
A typical day in this job might include:
- Designing structures an organization needs to effectively acquire, organize, analyze, manage, and utilize data
- Translating business objectives into a data management framework
- Defining how data will flow through the framework
- Working with other teams and engineers to develop the framework and implement it across the organization
6. Business Systems Analyst/Management Analyst
A mid-level position for Data Analytics degree holders, business system analysts and management analysts’ average salary can range between $93,000 and $100,000 annually, according to the Bureau of Labor Statistics.
A typical day in this job will include:
- Identifying ways to optimize systems, cut costs, and make IT more effective
- Researching new systems and tools to improve IT
- Assisting in rolling out new systems across departments
7. Machine Learning Engineer
The Machine Learning Engineer is a specialist role still in its infancy. While the job description may still be in flux, the average salary is high, coming in at $110,739. Typically this role will require a background in math, physics, or statistics as well as a specialized master’s degree or PhD.
A typical day in this job might include:
- Collaborating with the organization’s data science team to build programs and create algorithms
- Delivering data-driven products and services that enable machines to make decisions, take action, and enhance user experience
- Projects that are in need of Machine Learning Engineers include self-driving cars and personalized social media news feeds.
8. Chief Technology Officer
A newer C-suite role, the Chief Technology Officer usually pops up in corporate IT departments, consulting firms, or finance-related organizations. As an advanced career position, the average salary comes in at $159,149.
A typical day in this job will include:
- Employing expert-level knowledge of technological trends
- Conducting technological analysis while looking at ways in which you can ensure your organization stands out in an ever-increasing competitive marketplace
- Using leadership and organizational skills to build a team that considers which technologies are best to harness in order to ensure a positive user experience and ensure efficiency across all areas of the business.
9. Business/Analytics Translator
Last, but certainly not least, on our list is the Business/Analytics translator. A position that combines basic knowledge in both analytics and business, the average salary is $53,552.
A typical day in this job might include:
- Filling the gap between an organization’s business team and technology team
- Ensuring that focus stays on an organization’s values and objectives while communicating effectively with those on the data science team.
- Clearing up any confusion, miscommunication, or errors that arise between the technology and business teams in an organization
As you can see, there is an array of unique and rewarding careers in the field of data analytics. With a master’s degree in hand, you can enjoy career prospects where you can make a real impact in the future of businesses. Not to mention, the earning potential is high. No matter what you do with a master’s in Data Analytics, you are bound to reap the reward.
Learn more about the master’s in Data Analytics career outcomes here.
Are you interested in launching a career in Data Analytics, or advancing in your current position? The University of Bridgeport’s master’s degree in Data Analytics is helping to prepare the next generation of technical, conceptual, and critical data scientists.