CNBC Special Report Calls Careers in Data Science “Next Big Thing”

More parents may find themselves encouraging their children to become data scientists in the same way they’ve long encouraged them to become doctors, lawyers or bankers, says a new article by CNBC.

Why? Because statisticians are in strong demand and their salaries are high. Here’s an excerpt from the report about earnings of statisticians:

According to Burtch Works’ 2014 study of salaries for data scientists – typically those with university degrees in a quantitative field of study that are comfortable with programming languages and statistical methods – the median salary for employees not working as part of a team was $80,000 for those with 0-3 years’ experience and $150,000 for those with 9 or more years’ experience.

At the managerial level the median salaries were higher, with those responsible for a team of 1-3 earning $140,000 and those responsible for a team of 10 or more earning $232,500.

By contrast, the mean average annual income for a lawyer in America was $131,990 in 2013, while doctors earned $183,940, according to data from the U.S. Bureau of Labor Statistics.

That’s pretty impressive. But it’s far from the only reason to pursue a career in statistics. There are three other big reasons—to make a difference, have fun, and satisfy curiosity.


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