Are Data Scientists Happy? Data Scientist Career Satisfaction and Salaries (2024)

If you become a data scientist, you will have one of the highest-paying tech jobs in the world. This is one of the leading reasons professionals seek to upskill their data careers. LinkedIn states that data science has had nearly a 46 percent increase in hiring since 2019. Companies have realized the importance of making data-driven decisions based on facts and statistics.

Because of the high employability rate, you should consider becoming a data scientist. This guide provides you with information regarding the data scientist job satisfaction rate. We also give more details about the data scientist job stress level and rewards that come with this career. You’ll learn about the most popular data science careers and salary ranges as well.

What Is a Data Scientist?

A data scientist is a professional who leverages their knowledge in mathematics and science to establish trends within data. These experts carefully collect and analyze big data. Companies rely on data scientists to present credible results that assist in decision-making.

Often, data scientists find patterns in data sets using algorithms they create. They also rely on machine learning techniques to increase the quality of data. Data scientists work collaboratively with stakeholders and other department members to ensure uniformity. They relay complex information to the companies they are working for whenever the need arises.

These professionals have experience in programming languages such as Python, R, SQL, and SAS. They also learn about data visualization tools, such as Tableau, Excel, and Power BI. Their knowledge in machine learning contributes greatly to data quality and, consequently, predictions. To handle big data, these professionals rely on Hadoop and Apache Spark.

Is Data Science a Good Career?

Yes, data science is a good career. Data science has extensive opportunities for advancement. If you are looking for a career path that will still be relevant for decades to come, you should consider becoming a data scientist.

According to Glassdoor, a data scientist ranks number two in the list of the 50 best jobs in America in 2021. This career path features over 10,103 job openings on the platform and has high positive reviews of 4.2 out of five stars. Businesses are leveraging the Internet of Things, cyber security, and big data to remain competitive.

In addition, data science is a promising career because it can lead to other job opportunities. You do not have to be a data scientist for your entire life. By acquiring professional certifications or additional educational training, you can choose to start another career path. Often data scientists work toward becoming big data engineers, data center managers, or cloud engineers.

Data Scientist Satisfaction Rates

According to PayScale, data scientists’ average job satisfaction ranks four out of five stars. This statistic is based on 1,183 responses. The feedback is from 70 percent male data scientists and 29 percent female data scientists. Indeed.com indicates that data scientists have 68 percent salary satisfaction when compared to their living expenses.

Most respondents said they were happy with their medical care, 90 percent to be exact, with 79 percent saying they were happy with their dental care too. Out of these respondents, 73 percent claimed they were pleased with their vision care.

What Makes Data Science Jobs Satisfying?

There are a few factors that make data science jobs satisfying. We have curated a list of the top five reasons data scientists find their jobs satisfying.

Promising Career Trajectory

If you are looking for a career with stable job growth, you should consider becoming a data scientist. Reliable sources indicate that data science is an important part of a companies’ most well-paid and valuable aspects. The value of data will ensure the job demand for professionals in the field never dies down.

Potential Career Options

Another factor is the potential data science careers you can pursue. You are not stuck in one career path your entire life. You can easily choose to become a machine learning engineer, data analyst, business intelligence consultant, or data science manager.

Increased Salary Potential

Companies often ensure data scientists are well compensated, given these professionals’ value to businesses. Data scientists are among the highest-paid professionals in tech and beyond. You can expect an annual base salary of $103,930.

Less Competitive

Data science skills are highly sought-after among business owners. There are few data scientists in the field. Therefore, you will enjoy limitless job opportunities with very little competition.

Business Solutions

Data scientists’ primary job responsibilities dictate finding business solutions for companies. These professionals work tirelessly and siphon large data sets to provide more compact results to contribute to decision making. Being able to impact businesses positively is quite satisfying in this line of work.

Data Scientist Stress and Rewards

As much as data scientists seem to have the upper hand in the industry, you should be wary of the potential drawbacks. We curated a list of advantages and disadvantages of becoming a data scientist. Find out more below.

Data Scientist Stress

• Privacy risks. Data scientists work with private information. This can lead to stress because privacy leaks can lead to lawsuits.
• Use of tools. There are always tons of new tools and programs to learn. It can be difficult to keep your training current while still trying to handle your other job duties.
• Lack of specialization. While data science is a broad field and can give you experience in many different types of work, it can also mean that you don’t get to specialize in anything. You might not get the chance to become a master in any one field.

Data Scientist Rewards

• High demand. Data scientists cannot complain of a shortage of job opportunities. It’s among the top industries hiring multiple professionals to carry out the required job duties.
• High-paying career. Data science careers feature excellent compensation. As a data scientist, you can easily earn more than $100,000 each year.
• Versatility. Data science is a versatile industry. Professionals can work in the automotive, healthcare, banking, or IT industries. You will also find data scientists working for the government.

Life as a Data Scientist

Before committing to a lifelong journey of becoming a successful data scientist, you need to have clear expectations of the field. Here, we will give you a detailed review of a data scientist’s work environment, benefits, career growth, and salary. These are vital factors to consider before launching any career.

Data Scientist Work Environment

Data scientists’ work environment varies from one industry to the next. However, most data scientists work on a full-time basis. You will also find some professionals working extra hours to complete their projects.

If you choose to become a data scientist, you should expect to spend many hours analyzing data since this job heavily relies on computers. You will also present your results to stakeholders and executives. You will find data scientists working for the government, research facilities, colleges, and technology companies.

Data Scientist Benefits

Data scientists have numerous benefits stemming from their job position. These professionals often receive 401(k) plans, vision and health insurance, stock options, referral programs, or even gym memberships. Some companies also offer tuition reimbursem*nts, food, and commute assistance. However, these benefits are not standard for all companies.

Data Scientist Career Growth

According to the US Bureau of Labor Statistics, the job outlook of data scientists will grow by 22 percent between 2020 and 2030. This means the industry will experience a surge of jobs during this decade. Data science is a high-growth industry, and its expansion is large considering its role in business and other industries.

Data Scientist Job Outlook, Salaries, and Career Growth

Find out how much data scientists earn and whether they are in demand below. You can rely on this information to carry out a cost-benefit analysis of this career path.

Is Data Science in Demand?

Yes, data science is in demand. As we stated earlier, it has an expected job growth of 22 percent in the coming years. Data science plays a crucial role for businesses in decision-making. Through data science, professionals can find valuable data that can inform stakeholders on the most profitable decisions for the company.

In addition to making business decisions, data science also contributes to businesses staying afloat. Most companies today are data-oriented. This creates stiff competition among data scientists and organizations alike. Therefore, it is vital to employ efficient data science techniques and processes to gain a competitive edge.

Data science also plays a crucial role in healthcare, travel, banking, and education. Through it, professionals can identify problems and address them appropriately.

Data Scientist Salaries

According to PayScale, data scientists earn an average of $97,001 each year. These professionals’ wages depend on their skill level, education, experience, location, and employer.

An entry-level data scientist with less than one year of experience earns about $85,242 each year. This rate is inclusive of bonus and overtime pay. Professionals with more than one year of experience earn around $95,779 each year. Mid-level data science professionals earn around $110,261 annually. Experienced data scientists earn about $134,324 as their annual salary.

High-Paying Data Science Jobs

Data Architect

• Data Architect Average Salary: $132,617

Professionals who become data architects design and build the data management framework of a company. It is their responsibility to define data flows, reference architecture, and follow business requirements. Companies rely on data architects to build and maintain databases. Often data architects work in conjunction with database administrators.

To land a job as a data architect, you will need a four-year degree in data science, computer science, computer engineering, or equivalent. You can also opt for alternative education pathways such as bootcamps, vocational training, or community colleges.

Applications Architect

• Applications Architect Average Salary: $129,000

One of the top-paying data science careers is an applications architect. According to the US Bureau of Labor Statistics, computer and information research scientists’ job growth is expected to be 22 percent between 2020 to 2030. This high demand for professionals with skills in creating applications yields high rewards.

The highest-paid applications architects work in California, Texas, Washington, New York, and Virginia. These states pay average annual wages of $137,620, $109,570, $138,400, $122,300, and $116,850, respectively. It is important to note that the salary depends on your skills, education level, location, and company.

Data Engineer

• Data Engineer Average Salary: $121,938

Companies rely on data engineers to design and build reliable data ecosystems. These professionals build data pipelines that facilitate data transfer between sources and warehouses. Often, data engineers work collaboratively with data scientists.

Data engineers can quickly develop algorithms to study trends in datasets. To carry out these responsibilities, data engineers require experience in SQL and different programming languages. It is also important for them to have extensive communication skills to help them interact with business leaders and other department members.

Database Administrator

• Database Administrator Average Salary: $86,833

Database administrators are in charge of designing, writing, and maintaining computer databases for private and public companies. The role dictates that you protect data from breaches or corruption. You should also make sure data is easily accessible to the users.

The extent of job responsibilities of database administrators varies from company to company. However, database administrators are generally responsible for software installation, data extraction, data handling, troubleshooting, and database backup.

Business Analysts

• Business Analysts Average Salary: $84,323

The primary responsibility of business analysts is to carry out market research to help businesses realize their profitability. These professionals work with business leaders and clients to improve business processes and systems. They conduct reviews, perform analyses, and evaluate relevant documentation.

On average, business analysts have a degree in data science, business administration, or any other relevant degree. Business analysts can develop their skills in data science bootcamps, vocational training, or community colleges. Professionals with data science certifications tend to have access to more job opportunities and higher salaries.

Should I Become a Data Scientist?

Yes, you should become a data scientist. Data scientists receive high rewards due to their responsibilities. Companies rely on data scientists to gather intelligence for informing their business decisions. This means these professionals are in high demand and are well compensated for their skills and knowledge.

Data scientists also have the foundational knowledge to have different careers. With a solid understanding of data science, you will find several job opportunities. You can choose to become an applications architect, business analyst, data analyst, or data architect.

Data Science Career Change FAQ