Harvard Business Review termed data scientists the hottest job of the 21st century. HBR made this statement in 2012, so are you wondering if it still holds true? Let’s dig up some data to prove it.
It’s raining opportunities in data science!
NASSCOM had predicted over 5,00,000 projected openings for data scientists in 2018 alone. And there’s more! The Hindu reported a drought of 2,00,000 data scientists in Indian analytics firms in the time to come.All in all, the weather is perfect and it’s raining jobs in data science!
But are professionals seizing the opportunities being presented to them?
Well, let’s just say that the talent has always been there. They just need to be shown the right direction. That being said, top tech firms are investing big in re-skilling programs for their employees. Infosys and Wipro conduct mass re-skilling programs for their employees in trending technologies like big data analytics, design thinking and mobile app development. But can this solve the talent shortfall in the tech and analytics industry?
Trying times for IT
The tech companies are showing a common trend. Many companies have slowed down hiring fresh recruits due to the high cost of training and a considerably longer deployment time. As a result, companies like Infosys, Wipro, and TCS have reported lower Operating Profit and lower revenue per employee.
When we put things in perspective, how does the picture look for an engineering graduate or a tech professional in the coming time? What is a suitable strategy to get a job in a company of your choice?
Where are the best jobs?
Analytics companies in India have grown at a staggering rate in the past four years. The Indian Analytics Market is majorly driven by BPO/KPO service providers taking up to 80 percent of the market share. Industries like banking and financial services top the list of companies that are hiring data scientists. Data analytics is creating job opportunities in virtually every sector including e-commerce, media and healthcare.
Data analyst, big data engineers or DV developers etc. are talent profiles that data companies are aggressively looking to recruit.
Focus right – All eyes on data science
Of course, you need to have the passion to make sense of data to prosper in this field. You need to fall in love with numbers to make it your dream career. And this love for numbers pays off in the salary figures too. If a data scientist plays all his/her cards right, he/she can double his salary in a span of two to three years.
Upskill to upscale
In the present scenario, employees might even have to bear a pay cut for job retention. If the company has to outsource the job due to lack of internal skills, it will reflection the employee’s paycheck. Lack of skills in new technologies can cause a relative salary loss of 25% or more.
Upskilling with data science is a well-calculated move taken by students and tech professionals who are passionate about the subject and want to begin their career in this field. Competencies like data analytics and Hadoopturn you into a more valuable asset for the company along with better incentives and growth options compared to those who don’t have these emerging skills.
As per Analytics India Salary Study 2017, professionals with big data Hadoop training recorded a lucrative salary increment of over 20% in a year.
Invest in yourself today!
There are many ways you can jump into the fast-moving data bandwagon, and make a great career for yourself. Taking up a data science certification program is one of the best ways to kick-start your journey in this field. Remember, if you invest in yourself, the world will too!