6 High-Paying Data Science Jobs

For some time now, companies have been collecting data on a large scale and analyzing it in a targeted manner to gain competitive advantages. However, many do not know how much work and jobs are needed to build and maintain such an infrastructure. That is why there is currently a big shortage of skilled workforce in the Data Science sector.

What skills do you need for Data Science Jobs?

The Data Science Jobs we will present throughout the article all have a common skill set that future applicants should bring to the table. These include:

Analytical Skills

Analytical knowledge is among the most important skills in the Big Data area. In order to be able to understand complex relationships, basic knowledge of mathematics and Data Science techniques is indispensable. One must understand which analytical tools may be used under which conditions and how to interpret them.

Data Visualization Skills

Any good analysis will be useless if you don’t manage to communicate the results as simply and understandably as possible to an audience that may be unfamiliar with the subject. This is most easily done by using nice visualizations.

Programming Skills

An advantageous add-on for most employees with Data Science Jobs is basic programming skills in languages such as Python, C, or Java. In this field, one should have sufficient experience working with basic algorithms, data structures, and object-oriented programming. In addition, it is an advantage to be able to program quantitative and statistical analyses.

Problem Solving Skills

Working with Big Data poses problems, especially when working with unstructured data such as social media posts or images. In many cases, creativity and problem-solving skills are needed to find the best solution for the specific use case.

Das Bild zeigt eine Gruppe von Personen, teilweise auch mit Laptops, die gemeinsam Datenauswertungen im Bereich Big Data betrachten. — Big Data Applications | Source: Author

Structured Query Language

Despite the use of unstructured data and databases that are not based on the relational data model, the Structured Query Language (SQL) is still a cornerstone for querying data. Additionally, NoSQL approaches, such as Hadoop, still use SQL modules with which to query the data from the database.

Data Mining Knowledge

A key skill for aspiring Data Science Jobs is the use of data mining tools and algorithms.

The continued rise of Big Data applications is also leading to increasing demand for personnel who can handle such volumes of data. According to the 2018 LinkedIn Workforce Report, the U.S. alone has a shortage of more than 150,000 workers with data science skills.

Which industries use Data Science Jobs?

Data science is a rapidly growing field that has applications across a wide range of industries. Some of the industries that heavily rely on data science include:

Finance: In the finance industry, data science is used to analyze market trends, build predictive models, and manage risk. Banks and investment firms use data science to make decisions about which investments to make and when to make them.
Healthcare: In the healthcare industry, data science is used to analyze patient data and improve patient outcomes. Data scientists in healthcare may work on developing predictive models for disease diagnosis and treatment, as well as on designing clinical trials and analyzing healthcare costs.
E-commerce: In the e-commerce industry, data science is used to analyze customer behavior and make recommendations for products and services. E-commerce companies use data science to personalize the shopping experience for customers and optimize pricing and inventory.
Marketing: In the marketing industry, data science jobs are used to analyze customer data and develop targeted marketing campaigns. Data scientists in marketing may work on developing predictive models for customer behavior, analyzing the effectiveness of marketing campaigns, and optimizing marketing spend.
Manufacturing: In the manufacturing industry, data science is used to optimize production processes and reduce costs. Data scientists in manufacturing may work on developing predictive models for equipment failure, analyzing supply chain data, and improving quality control.
Transportation: In the transportation industry, data science is used to optimize logistics and improve safety. Data scientists in transportation may work on developing predictive models for traffic congestion, analyzing driver behavior, and optimizing fuel consumption.
Energy: In the energy industry, data science jobs are used to optimize production and reduce costs. Data scientists in energy may work on developing predictive models for equipment failure, analyzing weather patterns, and optimizing energy consumption.

Overall, data science has applications in a wide range of industries and is becoming increasingly important as companies seek to leverage the power of data to make better decisions and improve their bottom line.

What are the most prominent Data Science Jobs?

1. Data Analyst

The Data Analyst works in the field of Data Science jobs mainly in market research, in the marketing department, or in other departments of a company that analyze data.

Tasks: Data analysts collect data from internal and external sources, sometimes even by conducting or commissioning surveys. The main task is then to prepare the results in such a way that they can be understood by a wide audience.

Mining data from internal and external sources
Preparing reports for all levels of management
Highlighting the important information that could be valuable for further investigation

Qualifications: Data analysts should have solid skills and knowledge in database languages, Business Intelligence tools, and spreadsheet tools. Further knowledge in programming languages and Machine Learning are a plus.

Database Languages like SQL
Spreadsheet tools like Microsoft Excel or Google Sheets
Data visualization tools like Power BI or Tableau

Potential Salary: $70,000 (Source: Glassdoor)

2. Data Scientist

The Data Science job of “Data Scientist” goes beyond pure analysis and seeks to establish the statistical and operational relationships that result from the data.

Tasks: Data Scientists collect data from various sources to solve business-related problems using statistical algorithms.

Collecting data from various sources and transforming it into one common format
Enabling and supporting data-driven decisions
Visualizing the results to make them understandable for a non-tech audience
Researching trends and structures in data that can provide insight into relationships

Qualifications: Data Scientists have solid knowledge in mathematics, computer science, and detecting trends and patterns.

Machine Learning / Deep Learning
Data Visualization
Pattern Recognition
Data Preparation
Upcoming: Text Analytics

Potential Salary: $117,000 (Source: Glassdoor)

3. Data Architect

In data science jobs, the data architect ensures that there is a uniform architecture in the company according to which data is collected, stored, and analyzed.

Tasks: Data Architects sets the guidelines on how data is collected, stored, and accessed in an organization.

Organizing data migration from various sources into one data warehouse or data lake
Designing and realizing database solutions
Preparing data architecture reports for upper management
Ensuring the functionality of data architecture solutions with regular tests

Qualifications: Data Architects need to have basic technical knowledge and advanced project management skills.

Business Understanding
Project Management Skills
Legal Knowledge, i.e. data protection laws
Advanced knowledge of database solutions

Potential Salary: $119,000 (Source: Glassdoor)

4. Database Manager

In Data Science jobs, the Database Manager is responsible for setting up the databases used and keeping them functional.

Tasks: Database Managers make sure all database solutions run smoothly and are up-to-date.

Keeping up with current developments, e.g. new software installation
Protecting databases and their data from hackers
Preparing for system downtimes, such as power outage
Configuring hardware, e.g. to increase the storage capacity

Qualifications: Database Managers should be able to take over responsibility and be experienced with several different database solutions.

Leadership Skills
Strategic Planning
Solid Knowledge of Database Solutions
Creative and Analytical Thinking

Potential Salary: $75,000 (Source: Glassdoor)

5. Security Engineer

In Data Science jobs, the Security Engineer ensures that the tools used are safe for employees to use and that there are no hazards.

Tasks: Security Engineers are expected to secure an organization’s network from potential security threats.

Implementing new security solutions, e.g. firewalls
Identifying potential future threats and security risks
Finding security weaknesses and making them safe
Documenting security certification

Qualifications: Security Engineers have IT-related degrees and potentially a technical background. Some jobs may require certifications in this field.

Knowledge of various security-related fields
Business Thinking to provide cost-effective solutions
Time-Management
Organizational Skills

Potential Salary: $111,000 (Source: Glassdoor)

6. Data Engineer

In Data Science jobs, the Data Engineer is concerned with ensuring that the data is cleaned and stored in the databases.

Tasks: Data Engineers are responsible for the data transport from various sources into one common database model. This involves the so-called ETL process (Extract, Transform, Load).

Creating and Monitoring Data Pipelines
Preparing Data for Data Analysts and Data Scientists
Building the infrastructure to implement ETL processes
Optimizing the data delivery process

Qualifications: Data Engineers need knowledge of various programming languages which are used for data warehousing solutions and data preparation.

Programming languages like Python or Java
Database Query Languages, like SQL
Understanding distributed systems
ETL tools

Potential Salary: $112,000 (Source: Glassdoor)

This is what you should take with you

These jobs are relatively similar in some respects and even overlap in their competencies or areas of responsibility.
Depending on the job, it may be that a data analyst, for example, also takes on the tasks of a database manager and vice versa. It depends on the specific company and how the position is interpreted.
Therefore, you should not be discouraged by this list if you do not meet all of the requirements for a position.
Since these Data Science Jobs are currently in high demand, there may also be companies that are willing to introduce new employees to these positions first.