Data Analyst Degree Salary

Organizations in every industry rely more than ever on data to make vital business decisions: new markets to enter, which products to develop, new investments to make, and new customers to attract. Companies also use data to pinpoint inefficiencies and other business issues that need to be solved. (Northeastern.edu)

The job of a data analyst is to assign numerical values to these vital business functions, so there can be a performance assessment and a comparison made over time. But the analyst needs to do more than just review numbers. The data analyst also must understand how to use data to allow the company to make better decisions.

Some of the key responsibilities of a data analyst include:

  • Design and maintain data systems and databases, which may include fixing coding problems and other related system issues.
  • Mine data from various sources, and then reorganizing the data into a format that can be read by software or humans.
  • Utilize statistical tools to interpret sets of data, while paying close attention to patterns and trends that could be essential for predictive analytics efforts.
  • Prepare reports for top leadership that communicate trends, patterns, and predictions using the most relevant data.
  • Work with programmers, engineers, and company leaders to pinpoint chances to process improvements and opportunities to make needed system modifications.
  • Write documentation that allows managers to understand the data analysis process.

If you enjoy data and statistical analysis, this could be the job for you. Keep reading to learn more.

Data Analyst Salary Outlook

Below you will find detailed salary information for the data analyst occupation from several official sources. Most data professionals who earn the highest salary need to earn a master’s degree in data science, data analysis or a related field.

Bureau of Labor Statistics (BLS)

The Bureau of Labor Statistics reports that the median annual salary for an operations research analyst (related to a data analyst) is $83,390. The lowest 10% of data analysts made less than $46,800, and the top 10% earned at least $136,250. (BLS.gov). The top-paying industries in this field for 2018 were:

  • Federal government: $113,920
  • Manufacturing: $92,170
  • Professional, scientific, and technical services: $86,720
  • Management of companies and enterprises: $85,200
  • Finance and insurance: $82,300

The related occupation of financial analysts had a median salary of $85,600 in 2018, with the top 10% earning at least $167,000 per year. Top fields were: (BLS.gov)

  • Securities, commodity contracts, and other financial investments: $101,400
  • Professional, scientific and technical services: $84,500
  • Management of companies and enterprises: $83,600
  • Credit intermediation: $81,400
  • Insurance carriers: $78,800

Payscale.com

Payscale.com reports the average salary for data analysts is $60,100 with a range between $43,000 and $84,000. (Payscale.com). Some of the reported salaries for data analysts are:

  • Centene Corp: $63,000
  • Kaiser Permanente: $68,000
  • Booz, Allen, and Hamilton: $71,000
  • Amazon: $77,000
  • JP Morgan and Chase: $70,000
  • UnitedHealth Group: $67,000
  • Humana: $51,000
  • EY: $64,000

Desired skills for data analysts and salaries are:

  • Data analysis: $60,200
  • Microsoft Excel: $56,700
  • SQL: $63,400
  • Database management and reporting: $59,400
  • Statistical analysis: $61,400

Job experience also is a factor in pay for data analysts:

  • Less than one year: $54,400
  • One to four years: $59,400
  • Five to nine years: $67,200
  • 10 to 19 years: $69,600
  • 20 years or more: $71,700

Pay by location also can vary considerably for data analysts:

  • San Francisco: +31%
  • New York: +9%
  • Seattle: +8%
  • Washington DC: +8%
  • Boston: +6%
  • Atlanta: +1%
  • Chicago: 0%

Linkedin.com

This website reports the median salary for data analysts is $60,300 with a range between $38,900 and $90,000. (Linkedin.com). The salaries are based on 8,849 data analysts who submitted their salary information to the Linkedin.

Also, 27% of respondents stated they receive an annual bonus averaging $4,000 with a range between $1,000 and $10,000.

Data analyst salaries varied in the survey by company size:

  • 10,001+ employees: $65,000
  • 1,001-10,000 employees: $62,000
  • 201-1,000 employees: $60,000
  • 1-200 employees: $56,000

Top-paying industries for data analysts are:

  • Entertainment: $70,000
  • Hardware and networking: $69,000
  • Software and IT services: $65,000
  • Finance: $64,000
  • Corporate services: $62,000

Glassdoor.com

Glassdoor.com reports an average salary of $62,453 with a range between $43,000 and $95,000. (Glassdoor.com)

Job Outlook for Data Analysts

The demand for data analysts is strong. IBM estimates there will be 2.7 million jobs available for data analysts and related professions by 2020, an increase of approximately 2.5 million since just 2017.  Approximately 40% of the jobs in data analytics require at least a master’s degree. The company also says demand for data analysts and scientists will have risen 28% by 2020. (Forbes.com)

The IBM survey also found that 60% of data analyst and data science jobs are in finance and insurance, professional services, and information technology. Data analysts with skills in MapReduce, Apache Pig, machine learning, Apache Hive, and Apache Hadoop are in high demand.

Further, BLS data shows that the field will see strong growth, as well. Operations research analysts will experience 26% job growth by 2028 – much faster than average.

SEE ALSO: Data Analyst Degree Options

Technology is advancing quickly and organizations want more cost savings and efficiency. Data analysts and related professionals who can make sense of all the data streaming in will be needed. Also, greater job demand is occurring specifically in the analytics field (BLS.gov).

Additionally, major advances in technology make it possible for corporations to collect large volumes of data that can be analyzed to make better decisions for the organization.

Also, analytical software is being improved, which is making research and data analysis more affordable than ever before. More companies will hire data analysts to assist them in transforming data into actionable information.

Summary

Job demand for data analysts and related occupations is soaring. Professionals with a bachelor’s or master’s degree in a technical field can anticipate salaries starting in the $60s and topping out in the $130,000 range with enough education and experience. If you have interests in data, statistics, and technology, becoming a data analyst might be an ideal fit for you.

Analytics Manager Degree Salary

An analytics manager uses advanced analytical and mathematical methods to assist organizations in solving problems and making better business decisions. Some of the duties of analytic managers include: (BLS.gov)

  • Pinpoint and solve problems in business, logistics, healthcare, and other industries.
  • Collect and organize business data and information from computer databases, sales histories, and feedback from customers.
  • Collect input from employees involved in all areas of a business problem or from people who are subject matter experts so they can solve the problem.
  • Analyze information to determine what is relevant to the business problem and what analytical methods can be used to study the issue.
  • Utilize statistical analysis, predictive modeling, simulations, and other methods to analyze business information and devise practical solutions to modern business problems.
  • Advise stakeholders, such as managers and executives, on the effects of taking various courses of action to address a business problem.

Analytics managers help companies to determine the best ways to allocate resources, devise production schedules, manage the company supply chain, establish prices, and more.

These professionals must first be able to identify and understand the business problem or the processes that need improvement. Analytics managers usually collect large amounts of data from company databases for analysis. They also collect data from the field and may talk to managers or clients that are involved in the business process being improved.

Analytics managers use advanced computer software, including statistical packages and databases, to analyze and solve business and supply chain problems. Statistical software is used to simulate current or future events and determine the best course of action.

If you have an analytical mind and enjoy data and statistics, you may want to obtain a degree in data analytics or data science. Below is valuable information about the salary potential for analytics managers from several official sources.

Analytics Manager Salary Outlook

If you want to become an analytics manager, obtaining a degree in business, finance or even a master’s in business or data analytics degree or a related discipline is generally required.

SEE ALSO: Best Online Master’s in Business Analytics Degree Rankings

Bureau of Labor Statistics (BLS)

The Bureau of Labor Statistics reports that the median annual salary for an operations research analyst (related to analytics manager) is $83,390. The lowest 10% earned less than $46,800 and the top 10% earned more than $136,250. (BLS.gov). Top industries in this field in 2018 for salary were:

  • Federal government: $113,920
  • Manufacturing: $92,170
  • Professional, scientific, and technical services: $86,720
  • Management of companies and enterprises: $85,200
  • Finance and insurance: $82,300

Payscale.com

Payscale.com reports the average analytics manager salary is $94,707 with a range between $67,000 and $126,000. (Payscale.com). These companies reported the following salaries for analytics managers:

  • JP Morgan and Chase: $109,000
  • Accenture: $117,000
  • Avalara: $100,000
  • Synchrony Financial: $82,000
  • Expedia: $110,000

Popular skills for analytics managers and salaries are:

  • Data analysis: $93,700
  • SQL: $98,300
  • Business intelligence: $97,888
  • Microsoft Excel: $86,585
  • Business analysis: $94,600

Pay for analytics managers varies by experience, according to Payscale.com:

  • Less than one year of experience: $72,900
  • One to four years of experience: $85,500
  • Five to nine years of experience: $98,100
  • Ten to 19 years of experience: $106,300
  • More than 20 years of experience: $116,300

Your salary also can change based on your geographic location in the US:

  • San Francisco: +27%
  • Seattle: +10%
  • Dallas: +6%
  • Atlanta: -1%
  • New York City: -2%
  • Chicago: -2%
  • Philidelphia: -4%

Linkedin.com

Linkedin.com reports the average base salary for analytics managers is $108,000 with a range between $75,000 and $150,000. This information is based on 2,260 salaries that were reported by Linkedin members who are analytics managers.

Also, 61% of respondents said they receive an average annual bonus of $12,000 per year with a range between $5,000 and $27,000.

Approximately 5% of respondents received a signing bonus averaging $10,000 with a range between $5000 and $30,000. Eight percent received an average of $5,000 per year in stock options with a range between $1000 and $25,000. (Linkedin.com)

Salaries vary by company size, too:

  • 10,000+ employees: $115,000
  • 1,000-10,000 employees: $105,000
  • 201-1,000 employees: $100,000
  • 1-200 employees: $93,000

Indeed.com

This source states the average US salary for an analytics manager is $115,349. (Indeed.com). Some salaries reported from companies for analytics managers include:

  • Genentech: $144,900
  • Frontier Communications: $146,300
  • Capital One: $138,900
  • PwC: $137,600
  • Accenture: $134,200
  • PMG: $140,800
  • Deloitte: $116,400
  • Dice FM: $120,800

Salary.com

Salary.com reports the average analytics manager salary in the United States is $122,000 with a range between $95,400 and $150,400. (Salary.com)

Job Outlook for Analytics Managers

Employment in this field will rise by 26% by 2028. This is much faster than average compared to other occupations. Technology is advancing fast and companies want cost savings and efficiency, so demand for analytics managers will grow. Also, higher demand is occurring specifically in the analytics field in many industries to improve decisionmaking and business planning. (BLS.gov)

Advances in technology are making it possible for companies to gather large amounts of data that can be used for analysis. Also, improvements in analytical software are making operations research more affordable and applicable to more business areas. More organizations are expected to hire analytics managers to help them to transform data into important information that managers can use to make better decisions for the company.

Analytics managers manage and analyze the collected data to enhance business operations, supply chains, marketing, and pricing. Analytics manager demand is expected to be acute in the healthcare field and US military.

Opportunities are best for professionals with a master’s or Ph.D. in data analytics, data science, operations research, orf management science.

Average Analytics Manager Salary by State

StateHourly WageAnnual Salary
New York - Analytics Manager$57.41$119,406
Massachusetts - Analytics Manager$56.99$118,546
New Hampshire - Analytics Manager$55.61$115,670
Maryland - Analytics Manager$52.90$110,029
Hawaii - Analytics Manager$52.65$109,511
Connecticut - Analytics Manager$52.50$109,194
Alaska - Analytics Manager$52.49$109,188
Montana - Analytics Manager$52.49$109,188
North Dakota - Analytics Manager$52.49$109,188
Wyoming - Analytics Manager$52.49$109,188
Nevada - Analytics Manager$52.49$109,188
Idaho - Analytics Manager$52.49$109,188
Vermont - Analytics Manager$52.35$108,897
Nebraska - Analytics Manager$52.25$108,685
Washington - Analytics Manager$52.22$108,622
Rhode Island - Analytics Manager$51.68$107,502
California - Analytics Manager$51.65$107,440
Virginia - Analytics Manager$51.40$106,908
Arizona - Analytics Manager$50.85$105,766
New Jersey - Analytics Manager$50.52$105,088
Colorado - Analytics Manager$49.86$103,702
West Virginia - Analytics Manager$49.83$103,642
Minnesota - Analytics Manager$49.63$103,238
Pennsylvania - Analytics Manager$49.63$103,231
South Dakota - Analytics Manager$49.61$103,193
South Carolina - Analytics Manager$49.54$103,041
Tennessee - Analytics Manager$49.35$102,641
Delaware - Analytics Manager$49.32$102,595
Oregon - Analytics Manager$49.28$102,498
Utah - Analytics Manager$48.93$101,781
Ohio - Analytics Manager$48.84$101,583
Kentucky - Analytics Manager$48.78$101,469
Indiana - Analytics Manager$48.50$100,890
Oklahoma - Analytics Manager$48.39$100,642
Louisiana - Analytics Manager$48.24$100,349
Wisconsin - Analytics Manager$48.16$100,175
Kansas - Analytics Manager$48.01$99,864
Maine - Analytics Manager$47.97$99,769
Iowa - Analytics Manager$47.86$99,542
Texas - Analytics Manager$47.06$97,877
Georgia - Analytics Manager$46.89$97,526
Arkansas - Analytics Manager$46.71$97,158
New Mexico - Analytics Manager$46.45$96,607
Alabama - Analytics Manager$46.10$95,888
Michigan - Analytics Manager$46.05$95,782
Illinois - Analytics Manager$45.90$95,480
Mississippi - Analytics Manager$45.39$94,402
Missouri - Analytics Manager$44.92$93,442
Florida - Analytics Manager$44.25$92,040
North Carolina - Analytics Manager$40.24$83,707

Source: Ziprecruiter.com, January 2020.

Summary

The job outlook for analytics managers and related professionals is outstanding. Because of the improvements in technology and companies swimming in data that they often do not know what to do with, the time is ripe for a professional with an analytics degree to snag one of these high-paying jobs. With a master’s degree, you can easily be earning $100,000 or more per year after three years of experience or sometimes less.

How to Become a Business Analyst

A business analyst also may be referred to as a management analyst or management consultant. Business analysts determine ways to enhance the efficiency of many types of organizations and businesses. They provide advice to senior managers to make a company more profitable by reducing costs and boosting profits.

Some of the tasks that a business analyst performs include: (Payscale.com):

  • Determine user needs from requests from users and devise strategies to meet those business needs.
  • Critically evaluate information from many sources and determine the quality of the final analysis.
  • Communicate complex business data in ways that managers and executives can understand.
  • Analyze financial and other data, such as revenue, expenditure, and employment reports to make business recommendations.
  • Interview personnel and perform onsite evaluations to determine the equipment, methods, and personnel needed. (gov)
  • Implement necessary business metrics to meet organization and customer needs.
  • Analyze and report on data to help managers make better business decisions.

Many business analysts work for one company, but others work for consulting companies and engage with many different companies over time. Some business analysts focus on a specific industry, such at healthcare or IT, while others specialize in a specific business department, such as human resources.

If you are interested in working as a business analyst, below is more information about this career.

What Is Business Analysis?

Business analysis is the process and practice of helping to make changes in an organization by defining needs and recommending business solutions that provide value to all stakeholders in the organization. (IIBA.org)

Business analysis is an agent of change in an organization. It is used to identify and articulate the need for different approaches in how companies work and to make that change. Business analysis identifies and defines solutions that increase the value that is delivered by a company to its customers and stakeholders.

The value of business analysis is in avoiding unnecessary costs, pinpointing new opportunities, understanding capabilities and modeling the company for the best chances to increase profits and reduce costs.

What Do Business Analysts Do?

From being excellent at communication to knowing how to analyze large datasets, business analysts need to wear a lot of hats. As a business analyst, you can expect to do many things, including (Villanovau.com)

  • Work with stakeholders to identify opportunities to improve business operations and processes.
  • Work with technical staff to design or modify business or IT systems.
  • Interact with stakeholders and subject matter experts to understand needs and problems.
  • Gather, document, and analyze business requirements and needs.
  • Document the function and technical designs of business systems.
  • Interact with developers and system architects to ensure business systems are properly implemented.
  • May help test business systems and create system documentation and manuals for users.

Where Do Business Analysts Work?

The Bureau of Labor Statistics states that management analysts and business analysts held 876,000 jobs in 2018. The largest employers  of these professionals were in these areas of the economy: (BLS.gov)

  • Professional, scientific, and technical services: 30%
  • Self-employed workers: 18%
  • Government: 16%
  • Finance and insurance: 11%
  • Management of companies and enterprises: 5%

Some of the best companies to work for as business analysts are: (Glassdoor.com)

  • P. Morgan
  • Deloitte
  • Accenture
  • Target
  • Capital One
  • UnitedHealth Group
  • Bank of America
  • Cisco Systems
  • McKinsey & Company
  • Citi
  • Boeing
  • IBM
  • Liberty Mutual Insurance
  • Wells Fargo
  • AIG
  • CGI

What Is the Job Outlook for Business Analysts?

BLS reports that business analysts and management analysts will enjoy 14% job growth by 2028, which is much faster than average. It is anticipated that the demand for business analysts will grow because companies need to increase their efficiency to stay ahead of the competition. (BLS.gov)

SEE ALSO: Salary Outlook for Master’s in Business Analytics

The need for business analysts should be especially strong in the healthcare field. Healthcare organizations are experiencing higher costs because the US population is aging, technology is getting more advanced, and medical procedures are more expensive. Business analysts also may be required to help people to navigate the health insurance regulatory environment.

It is believed that IT business analysts will be needed as organizations want to bring in consulting companies to help them with cybersecurity initiatives. BLS expects growth should be the highest in the smaller consulting companies that focus on specific business functions such as information technology or human resources.

Also, the International Institute of Business Analysis reports that business analysis career outlook is outstanding. It is expected that the number of job openings for business analysts will reach 2,720,000 in 2020, up from 364,000 four years ago. (IIBA.org)

One of the reasons the IIBA believes business analysts will be in high demand is their jobs cannot be automated; business analysis requires human thought and introspection. Also, 70% of companies have a digital transformation strategy or are planning one. These programs require business analysts to facilitate the digital transformation by devising and implementing information systems that execute the strategy.

Business analysts also are needed to bring organizational change by bringing in new business processes, enhancing efficiency and productivity of current business processes, and lowering operating costs of current business processes.

How Can You Become a Business Analyst?

Becoming a business analyst generally requires the minimum of a bachelor’s degree in computer science, accounting, business, IT, information systems, or management information systems. To get a higher-level position later in your career, it is recommended to earn your MBA in Business Data Analytics, Master of Science in Business Data Analytics, or Master of Science in Information Management.

SEE ALSO: Best Masters Degree’s Online for a Business Analyst

What Do Exams and Licensing Involve?

One of the most effective ways to enhance your job prospects as a business analyst is to obtain the Certified Business Analysis Professional (CBAP) designation offered by the International Institute of Business Analysis. This is the elite level of certification in the field, and it requires you to have plenty of hands-on experience and expert-level knowledge.

Earning CBAP designation provides you with more respect and credibility among your business peers. You also can make your CV stand out from others when you are looking for a higher-paying business analyst position. Top employers increasingly want to see CBAP certification when hiring or promoting these professionals. (Villanovau.com)

How to Become a Business Intelligence Analyst

Business intelligence analysts, a type of management analyst, study data, and systems at an organization and propose ways to make it more profitable and efficient. (BLS.gov). Business intelligence analysts provide advice to managers about how to make companies more profitable by increasing revenues and decreasing costs. Typical duties are:

  • Collect and organize information about the business problem that needs solving or the procedure that needs improving.
  • Interview company personnel and perform observations onsite to determine equipment, methods, and personnel that are required.
  • Collect and analyze financial and other data, such as expenditures, revenue, and employment reports.
  • Create solutions and alternative practices that lead to higher revenues and lower costs.
  • Make recommendations for new procedures, systems, and/or organizational changes.

Business intelligence analysts may work for the company they analyze or for a consulting company that works with many companies. Some in the field may specialize in certain areas, such as corporate restructuring or inventory management. Others specialize in an industry, such as IT or healthcare.

Interested in a career as a business intelligence analyst? Below is more information.

What is Business Intelligence?

Business intelligence involves technology, applications, and practices to collect, integrate, analyze, and present business information. The idea behind business intelligence is to help companies make better business decisions. Business intelligence systems are driven by data, and provide historical, current and predictive views of the company’s operations. (Olap.com)

The business intelligence analyst works on sales, production, financials and other sources of business data to enhance business performance and management. Business intelligence involves the following processes: (Tableau.com)

  • Data mining: The use of databases, statistics, and machine learning to find trends in large amounts of data.
  • Reporting: Sharing data analysis with managers so they can make conclusions and business decisions.
  • Performance metrics and benchmarking: This is the comparison of current performance data to previous data to monitor performance and goals.
  • Descriptive analytics: The use of preliminary data analysis to find out what occurred.
  • Querying: Asking questions that are data-specific,.
  • Statistical analysis: Taking results and looking further at the data with statistical tools.
  • Data visualization: Transforming data analysis into a visual representation, such as charts, graphs, etc.

What Do Business Intelligence Analysts Do?

A business intelligence analyst guides and enhances the way a company fosters collaboration between and inside departments. More of their duties are: (Payscale.com)

  • Offer application analysis and data modeling design to gather data for the centralized data warehouse.
  • Pull data from databases and data warehouses for business intelligence reports and to improve sharing between data systems.
  • Use query and reporting analysis tools.
  • Standardize the collection of data by coming up with methods for validation reports and database design.

Where Do Business Intelligence Analysts Work?

The Bureau of Labor Statistics states that management analysts and business intelligence analysts held 876,000 jobs in 2018. The biggest employers of these professionals were in these sectors: (BLS.gov)

  • Professional, scientific, and technical services: 30%
  • Self-employed workers: 18%
  • Government: 16%
  • Finance and insurance: 11%
  • Management of companies and enterprises: 5%

Some of the top employers for business intelligence analysts are: (Indeed.com)

  • Travelers
  • Google
  • Verizon
  • USAA
  • CSI Tech
  • EY
  • Boeing
  • NTT Data Services
  • Wayfair
  • Indeed
  • Prosperity Home Mortgage

What Is the Job Outlook for Business Intelligence Analysts?

The Bureau of Labor Statistics states that the related job of management analyst will experience 14% growth by 2028, which is much faster than average. Demand for business intelligence and management consulting services will grow quickly as organizations seek to boost efficiency and reduce costs in a more competitive global economy. (BLS.gov)

Demand for management and business intelligence analysts will be especially robust in the healthcare industry. This sector is seeing higher expenses because of an aging US population. Also, more management analysts could be needed to assist people in navigating the health insurance regulatory environment.

Information technology business intelligence analysts also will be needed as companies want to hire consulting companies to help them reach the best possible level of cybersecurity. Growth should be strongest in small consulting companies that specialize in business functions such as HR or IT. Government agencies also will look for these analysts to help them reduce spending and boost efficiency.

How Can You Become a Business Intelligence Analyst?

Business intelligence analysts need the proper combination of education, training and certifications for the best employment opportunities: (Indeed.com)

  • Education: You should have at least a bachelor’s degree in computer science, statistics, mathematics, or business administration. (See best Online Masters in Business Analytics Rankings). Many in the field opt to earn an MBA to increase their earning potential. Others get a master’s degree in computer science, IT, or cybersecurity.
  • Training: Most organizations want business intelligence analysts with experience in business or information technology. You may find the best way to get your foot in the door is through a business intelligence analyst internship while you are in college. But experience as a business or data analyst can be a good background to become a business intelligence analyst.
  • Certifications: The technical aspect of the job is the most vital part of working in this field. So having a certification in SQL, Oracle, or Python can be useful. Such certifications show you have advanced knowledge of programs and languages that are vital to success in the field.

What Do Exams and Licensing Involve?

If you want to get to the top of this growing field, CIO.com recommends the following certifications:

  • Certified Business Intelligence Professional (CBIP): For senior-level personnel in IT and technology fields with a focus on business analytics and data management. You need to have two years’ experience in CIS, data modeling, data planning, data definitions, ERP, application development and IT management.
  • Microsoft Certified Solutions Associate: BI Reporting: Shows expertise in data analysis with Power BI and Excel. It also shows skill in data visualization, data analysis, modeling, and dashboards.
  • QlikView Data Architect: Shows knowledge of the technical areas of QlikView app development, including data modeling, design, and scripting.
  • Tableau Desktop Certified Professional: Recommended for business intelligence analysts with experience in Tableau who want to show their advanced understanding of Tableau’s functionality and the application of visual best practices. You need to already hold the Tableau Desktop Qualified Associate certification.

How to Become a Data Scientist

Data scientists mine complex data and systems-related data for their companies. These scientists are responsible for designing new ways to incorporate large amounts of information with a focus on IT topics. Data scientists work with teams of related technical professionals to manage massive amounts of statistical data and create different models based on the organization.  (Payscale.com)

Data scientists also engage in the following: (BLS.gov)

  • Explore the fundamental issues in data and computing and devise models and theories to address those problems.
  • Assist scientists and engineers in solving complex data-driven computer problems.
  • Devise new ways to enhance data and search quality, as well as predictive capabilities.
  • Perform and interpret data studies and product experiments regarding new data sources.
  • Develop proof of concepts, algorithms, predictive models, and custom analysis.
  • Come up with new computing languages, tools, and methods to enhance how people work with computers and the data they contain.
  • Design new experiments to test the operation of new software and data systems

If you want to become a data scientist, below is more information about this rapidly growing field.

What Is Data Science?

Data science is used to make predictions and decisions that use predictive causal analytics, prescriptive analytics, and machine learning: (Edureka.co)

  • Predictive causal analytics: If a model is needed to predict the chances of an event in the future, this type of analytics is required. For example, if a company provides money on credit, how likely the customer will make credit payments in the future is important. Here the data scientist can construct a model that can do predictive analytics on the customer’s payment history to see if future payments will be timely.
  • Prescriptive analytics: If a model is needed that has the ability to take its decisions and to modify them with new, dynamic parameters, prescriptive analytics is required. A good example is a self-driving car. The data collected by cars can be used to train cars to drive better.
  • Machine learning: If there is transactional data held by a finance company and it needs to construct a model to determine future trends, machine learning algorithms written by data scientists are the best thing. The data scientist has data that it can use to train machines to perform certain tasks.

What Do Data Scientists Do?

In the last 10 years, data scientists have become essential in most companies and organizations. These highly educated professionals have the skills to build complicated quantitative algorithms to organize and synthesize large quantities of information that are used to answer questions and affect the strategy of their organization.

Data scientists examine the questions that need to be answered and where the data can be found. These technical workers have business skills and analytical skills. They also can mine, clean, and present data. Many companies use data scientists to source, manage, and analyze massive amounts of data. The results are then analyzed and synthesized and are given to executives and stakeholders in the organization. (Berkeley.edu)

Data scientists also work on data privacy rights to ensure clients are satisfied and the company avoids legal issues. Further, data scientists work in teams using such techniques as collaborative filtering, market basket analysis, and matrix factorization.

Where Do Data Scientists Work?

It is estimated that data scientists, a type of computer and information research scientist, held about 32,000 jobs in 2018, but this field is growing quickly. The largest employers of data scientists are: (BLS.gov)

  • Federal government: 28%
  • Computer systems design and related services: 20%
  • Research and development in engineering, physical, and life sciences: 16%
  • Colleges and universities: 8%
  • Software publishers

Below are some specific companies that are hiring data scientists today: (Glassdoor.com)

  • Accenture
  • Amazon
  • Apple
  • Facebook
  • Google
  • Intel
  • Microsoft
  • Twitter
  • Paypal

According to another source, these companies have hired high numbers of data scientists and related professionals recently: (Techrepublic.com)

  • IBM: 2,563 employees
  • Amazon: 1,846 employees
  • Microsoft: 1,800 employees
  • Facebook: 1,220 employees
  • Oracle: 1,210 employees
  • Google: 904 employees
  • Apple: 568 employees

What Is the Job Outlook for Data Scientists?

The Bureau of Labor Statistics reports that the employment of data scientists and related computer and information research scientists will grow by 16% by 2028, which is much faster than average. The rapid growth of data collection by many organizations will lead toa much greater need for data scientists that have data mining skills. Experts will be needed to devise new data algorithms that help companies to make informed conclusions from large amounts of data. With this information, organizations will have a better understanding of their customers. (BLS.gov)

Also, a growing concentration on cybersecurity will lead to new jobs for data scientists because data scientists are an integral part of learning new ways to fight cyberattacks.

How Can You Become a Data Scientist?

Most jobs for data scientists and related professions in computing and information research require a master’s in computer science, computer engineering, or a related field. (BLS.gov). Other sources say an advanced degree in physics, mathematics or even business can be an entryway into data science. (Towardsdatascience.com). It is necessary to have a good understanding of supervised and unsupervised machine learning techniques as well as an excellent grasp of statistics and the ability to evaluate modern statistical models.

Skills that are in demand for data scientists today include: (Payscale.com)

  • Data modeling
  • Big data analytics
  • Data mining
  • Python
  • SAS
  • Apache Spark
  • Machine learning
  • R
  • SQL
  • Statistical analysis

What The Experts Say

  • I started learning data science about 4 years ago.  I had no real programming background.  This is mostly geared towards people who are in the same position I was in. A lot of advice around learning data science starts with “first learn python”, or “first take a linear algebra course”.  This advice is fine, but if I followed it, I never would have learned any data science. –Vik Paruchuri, Founder, Dataquest
  • To become a data scientist, you need a solid background in mathematics (especially analysis, multivariate calculus, and linear algebra), statistics, and programming (python and R). Anyone wishing to get into the field of data science must start by acquiring a strong background in Python and R programming language. I have discussed a list of free online courses that can enable you learn the basics of data science using Python and R in this article: Data Science and Machine Learning for Beginners: DataCamp versus the Academic Approach –Benjamin Obi Tayo Ph.D., Physicist, Data Science Educator, Writer
  • I get requests to answer many variants of this question, so I’m going to put one general answer here, so I can point people to it. If you’re wondering whether you can be a data scientist, you can see what boxes you need to check to get there. There are two steps to being a data scientist. 1) You have to know how to do the things a data scientist is going to have to do on the job. 2) You have to be able to convince someone with the money to pay you that you have completed step 1. –Chris Luhrs, is a data scientist

What Do Exams and Licensing Involve?

Data scientist positions are some of the most in-demand in the country. Companies rely on their data and want to hire the best data professionals. If you want to stand out from other data scientists, you do not need a license, but data science certifications are critical.

Below are some of the most important certifications you can earn to increase your job prospects and earnings. (CIO.com)

  • Certified Analytics Professional (CAP): Vendor-neutral certification that helps you transform data into valuable insights and company actions.
  • Data Science Council of America Senior Data Scientist: Designed for professionals with at least five years of experience in analytics and research. You should understand databases, spreadsheets, statistical analytics, R, SAS, and quantitative methods.
  • Dell EMC Data Science Track: You will learn the foundational principles of data science and big data analytics. Also covered are natural language processing, advanced analytical techniques, Hadoop, Pig, Hive, and HBase.

Salary Outlook for Master’s in Business Analytics

With ever-increasing rates of data production and consumption, every organization has growing need to use information and large amounts of data to inform business decisions. Whether it’s considering what departments are most efficient to deciding whether prices are where they should be, analytics are a crucial part of modern business operations.

And since data isn’t going away anytime soon, for people who are considering earning advanced degrees in data science or related fields, getting a master’s degree in business analytics is an attractive option for many especially online masters in business analytics degrees.

There is a virtually limitless number of job titles in business analytics, including the obvious (business analytics manager) as well as roles within any number of departmental groups, including communications, marketing, operations, finance and more.

What do salaries for business analytics professionals look like, and how much growth can people with this degree expect over the next several years?

Business Analytics Education

While every program is a bit different, generally graduate-level degree programs in business analytics provide broad training in areas like statistics, statistical programming, predictive modeling, marketing, data mining and operations.

As with most educational programs, most students also will have a chance to customize their degree tracks by focusing on specialty areas, such as healthcare or international finance. Here’s a look at some typical course titles business analytics students are likely to encounter in master’s degree programs:

  • Data-Driven Decision Making
  • Operations Analytics
  • Data Mining in R
  • Decision Models
  • Data Visualization
  • Decision Under Risk
  • Revenue Management and Pricing
  • Data Privacy and Ethics
  • Artificial Intelligence
  • Managerial Judgment and Decision Making
  • Web Data Analytics
  • Business Analytics in Marketing, Finance and Operations
  • SQL Databases for Business Analytics
  • Communication for Management

Master’s in Business Analytics Salary

As we’ve mentioned business analytics is a broad tent, and there are dozens of job titles that fit within that. The good news, though, is that for most people with master’s degrees in business analytics, not only are job titles quite diverse, reflecting the broad adoption of the principles of business analytics, wages tend to be higher for those with advanced degrees.

In fact, according to the U.S. Bureau of Labor Statistics, the average person with a master’s degree makes about $10,000 more than their bachelor’s-degree-holding counterpart over the course of a year.

Let’s look at what various sources tell us about typical salaries for business analytics professionals.

BLS

The BLS does not distinguish business analyst or business analytics manager from other types of data-heavy occupations. However, one role, management analyst, comes quite close to what a typical business analyst graduate will cover in their master’s degree program. These professionals average a salary that’s well above the national median, and for those with a master’s degree, wages are likely to be even higher.

Median salary: $83,610

Indeed

Online job board Indeed listed nearly 2,500 job openings for management analysts at the end of February 2020, and the area with the highest concentration of jobs is Washington, D.C., and the surrounding suburban communities. Entry-level wages for management analysts start around $55,000 with salaries on the high end reaching $90,000 and higher.

Average salary: $70,000

Glassdoor

According to Glassdoor, a platform that aggregates salaries, job openings and company reviews, listed tens of thousands of management analyst jobs across the United States in late February 2020. Locations and industries were quite diverse, with jobs in sectors as diverse as healthcare and auto manufacturing.

Average salary: $101,000

Payscale

Payscale, a compensation information clearinghouse, indicates that entry-level management analyst jobs are about 20% less well-paying than average, while experienced and late-career individuals, including those who’ve earned a master’s degree, can expect to make about one-quarter more than the average.

Average salary: $66,155

Ziprecruiter

Staffing marketplace Ziprecruiter listed hundreds of management analyst jobs in late winter 2020, with most jobs being in either the nation’s capital or the West Coast. Even entry-level salaries were high, and the most lucrative jobs paid into the six figures.

Average salary: $85,000

Job Demand for Master’s in Business Analytics

The U.S. economy is expected to expand by about 5% in terms of the total number of jobs by 2028, but for management analysts, a growth rate nearly three times that high is projected. Among most business-related occupations, this is one of the most rapid projected rates of growth.

Management analyst job opening growth, 2016-26, highest and lowest

HighestLowest
Utah57.4%Alaska1.9%
Washington33.7%Maine4.8%
Colorado27.4%Rhode Island5.6%
Tennessee26.6%Maryland5.7%
Florida25.1%Mississippi8.0%
Nevada25.0%District of Columbia9.0%
Texas21.2%Hawaii9.3%
Arizona21.0%Kansas10.0%
Arkansas19.5%Vermont10.0%
North Carolina19.2%New Mexico10.7%

Every state is expected to see a positive rate of change in management analyst employment, though some growth rates are likely to be quite modest. Alaska, for instance, is expected to see management analyst occupation rise by only 1.9%, while several other states will see these jobs expand by more than 20%. Utah is expected to set the national pace with a growth rate of 57.4%.

Conclusion

Whatever their eventual job path, people who earn a master’s degree in business analytics will gain the type of education that will enable them to make informed, wise decisions relating to all manner of businesses and industries. We explored only one specific job title here, management analyst, but with rapid growth projected in all data-related occupations, the future looks to be very bright for highly trained business analytics professionals.

Additional Resources

Salary Outlook for Master’s in Business Intelligence

The modern business collects and generates enormous amounts of data about its sales, expenses, personnel, customers, competitors and more. Despite investments that many companies are making in their analytics capabilities, much of the data generated within firms goes unused, as much as 73% of all data, according to one Forrester study.

But for people who have advanced training in gathering, understanding and harnessing that data, a career in business intelligence can be a long and fruitful one. That’s why so many people, whether they have a background in business or one in statistics, are considering pursuing master’s degrees in business intelligence.

A combination of many challenging disciplines, business intelligence involves using technology and computing power to collect and analyze data in order to inform better decision-making within companies. Jobs are available for business intelligence experts in all sorts of organizations, even some that aren’t businesses at all but rather nonprofits, educational institutions and even government bodies.

Let’s learn more about salaries that are possible after completing a master’s degree in this field.

Business Intelligence Education

Every program is a bit different, and some students may prefer to pursue a specialized education that focuses on one or more areas of the broader economy, such as sports management, healthcare or finance. But generally, most business intelligence graduate programs will have a few broad course areas in common.

Here are some typical courses business intelligence students are likely to encounter:

  • Decisions Support Systems Modeling
  • Business Analytics for Business Intelligence
  • Process Simulation and Analysis
  • Predictive Analytics
  • Data Mining
  • Python Programming
  • R Statistical Programming
  • Business, Ethics and Society
  • Data Visual Analysis and Visualization
  • Strategic Marketing
  • Leadership and Organizational Behavior
  • Business Statistics
  • Communications and Content Strategies

Master’s in Business Intelligence Salary

To understand what salaries are possible with a master’s degree in business intelligence, we must first outline some of the most common applicable job titles. Of course, there’s business intelligence analyst, but others include business operations specialist, data analyst or even data scientist.

Some roles we trend toward the very technical, and students with a thorough education in programming and statistics will be better-suited for jobs like that, while learners whose degree programs were more steeped in management or communications will probably find other roles more satisfying.

Business intelligence analyst, business operations specialist

BLS

The most applicable job title listed by the U.S. Bureau of Labor Statistics, which is the federal government’s final word on occupational and salary statistics, is business operations specialist, which the agency distinguishes from jobs like financial analyst, budget analyst or operations research analyst. These jobs are largely available within private industry, higher education and the federal government, according to BLS data, and a typical master’s-educated wage should be near six figures, though the overall average is lower.

Average salary: $70,530

Indeed

In late February 2020, Indeed, one of the world’s leading job boards, listed nearly 800 open jobs for business intelligence analysts across the United States. While many were located in major cities like Seattle, Chicago and New York, postings were also listed in smaller cities like Cincinnati and Charlotte. Most jobs that listed salary figures were upwards of $70,000.

Average salary: $75,000

Glassdoor

Glassdoor, which aggregates salary figures, job postings and company reviews, indicated that thousands of business intelligence analyst jobs had been posted in the U.S. around February 2020, and they were available in every corner of the U.S.

Average salary: $93,000

Payscale

Compensation data warehouse Payscale indicates that late-career business intelligence analysts can expect to earn about 30% more than entry-level counterparts, and the site lists an average annual salary for the job below $70,000, but people with master’s degrees will usually command higher salaries.

Average salary: $67,921

Ziprecruiter

Employment and staffing marketplace Ziprecruiter listed thousands of openings for business intelligence analysts across the U.S., including in technology hubs like Seattle and Silicon Valley but also in heartland cities like Madison, Wisconsin. Among jobs where salaries were published, $80,000 set the low end of the range.

Average salary: $100,000

Job Demand for Master’s in Business Intelligence

Pretty much every computer- or data-related job is expected to see rapid growth over the next several years, and it’s no different for business operations specialists, a job the BLS expects will expand by 8.8% nationally, compared to just 5% for all occupations across the economy. This is on the lower end for similar jobs; statisticians, for instance, are expected to see a growth rate of 31% through 2028.

Still, many states will see very dramatic growth for business operations specialists through 2026.

Business operations specialist job opening growth, 2016-2026

HighestLowest
Utah24.4%Alaska
Nevada21.7%Maine2.0%
Arkansas19.2%Oklahoma3.5%
Florida19.1%South Dakota3.6%
Colorado19.0%Maryland4.0%
Washington17.2%Mississippi4.2%
Arizona16.9%West Virginia5.0%
Texas15.2%District of Columbia5.1%
Tennessee14.9%Alabama5.5%
North Carolina14.3%Hawaii5.8%

All but one state (Alaska) is expected to see business operations specialist jobs grow through 2026, with Utah at the high end with a 24.4% growth rate, and Maine the slowest positive growth rate, just 2%.

Conclusion

While some states certainly will be better for others when it comes to jobs for business intelligence analysts, these roles should become much more common over the next several years, and for people with graduate training in the tools and practices relevant to the field, salaries should continue scaling over the next several years.

Additional Resources

Salary Outlook for Master’s in Data Analytics

With the World Economic Forum trumpeting the job of data analyst as one of the most important and fastest-growing occupations in the world, it’s not hard to understand why so many people are interested in earning an advanced degree in the field of data analytics.

Regardless of the job title they pursue, whether that’s literally “data analyst” or something related like operations research analyst, data scientist or information systems manager, for the right person, earning a master’s degree in data analytics could be just the start of a long, bright (and lucrative) career path.

Let’s explore typical salaries, job growth projections and common coursework required to earn a master’s in data analytics and launch a long and fruitful career.

Data Analytics Education

Every program is different, and your mileage may vary, but generally a graduate program in data analytics is likely to have several foundational courses as well as some that will depend on the particular institution and any focus areas the learner wants to pursue. Here’s a look at what you can likely expect in a data analytics education:

  • Data Mining and Analytics
  • SQL for Data Analytics
  • Applied Statistics
  • Large-Scale Database and Warehouse
  • Data-Driven Decision Making
  • Analytics Programming in Python
  • Data Visualization
  • Regression Methods
  • Predictive Analytics
  • Enterprise Performance Management
  • Applied Machine Learning
  • Optimization Methods
  • Model Analysis
  • Forecasting and Time Series

Master’s in Data Analytics Salary

In general, people with advanced degrees can almost always expect to earn more than their less-educated counterparts. For example, the average person with a master’s degree earns about $1,400 per week, compared to a person with a bachelor’s degree, who earns just under $1,200 per week. Over the course of a full-time working year, that equates to more than $10,000 in income.

For individuals with a master’s in data analytics, that difference may be even more stark, given the high demand for very qualified people to fill data-heavy roles. Particularly for operations research analysts, who often must have a diverse skill set that applies to many different departments, the potential for high wages is great.

BLS

The federal government’s official home for data related to jobs and employment, the Bureau of Labor Statistics, does not list data analyst as a job separate from statistician, mathematician or other analyst roles, such as financial or budget analyst. However, the job of operations research analyst has a great deal of overlap with typical data analyst educational programs, and according to the BLS, those workers earn more than double what the average worker earns.

Median salary: $86,700

Indeed

Online job board indeed listed nearly 250 operations research analyst job openings in late February 2020, and the most common type of employer actively looking to hire included military agencies and government bodies.

Average salary: $85,200

Glassdoor

Compiled from just over 1,000 salary reports, Glassdoor’s salary range for operations research analyst runs from about $50,000 on the low end to a high of about $100,000, and those with graduate degrees are more likely to find openings on the higher end of the wage scale.

Average salary: $69,816

Payscale

Salary aggregator Payscale reports a range for operations research analysts of about $50,000 per year to nearly $120,000 for the highest-paid individuals with the job title, while those who specialize in a particular area may be able to write their own ticket if they find the ideal employer.

Average salary: $77,697

Ziprecruiter

Staffing and job search site Ziprecruiter listed thousands of operations research analyst jobs in February 2020, with openings across the country. Many jobs were centered around national security and military cities, such as San Antonio and the D.C. area.

Average salary: $97,500

Job Demand for Master’s in Data Analytics

All jobs related to data science are expected to expand over the next several years, and the growth rate for operations research analysts is more than five times higher than the projected expansion of all jobs across the entire economy (+26% vs. +5%).

Only one state (Alaska) is not expected to see statistically significant growth in these jobs, and only one other (Maryland) will see jobs grow by a single-digit rate. Of states where growth is projected, the average increase is about 31%.

Operations research analyst job opening growth, 2016-2026

HighestLowest
Utah60.3%Alaska
South Dakota50.0%Maryland5.8%
Nevada48.6%Vermont16.7%
Arizona47.1%Maine21.2%
Tennessee45.6%District of Columbia22.3%
Colorado42.5%Washington22.5%
Iowa39.7%Minnesota22.6%
North Dakota38.5%Idaho23.8%
South Carolina37.6%Hawaii24.2%
Louisiana37.0%Massachusetts24.3%

The four states with the highest growth rates are West of the Mississippi, and the South, Midwest and West all are represented among the top 10.

 Conclusion

Professionals with training in data analytics will be highly sought-after for jobs in every conceivable industry, with government, private industry, the military and many more all needing to employ people who can help them understand data and craft strategies for using all that information wisely.

While these jobs will range from entry-level to senior, people who can set themselves apart by earning a master’s degree in data analytics will have a major advantage in the workplace. The rigors of graduate education in the field helps signify a degree of seriousness and dedication that few other tools can show.

Additional Resources

Master’s in Data Science Degree Salary Outlook

Professionals with a high-level education in data science are among the most in-demand people across all sectors of the job market today, and this demand doesn’t seem to be cooling off anytime soon.

In fact, according to IBM, demand for data scientists will rise 28% through the end of this year, and these skilled individuals will be needed in all sectors of the economy, from finance to education and everything in between.

The increasing generation of massive sets of data means that those who can successfully harness data should have long and successful careers. Particularly for people with master’s degrees in data science, the outlook is very bright indeed.

What can these people expect to earn, and what does the job market hold for them?

Data Science Degree

At the master’s level, a data science program is likely to allow students to focus on one or more areas of interest for them, whether finance, healthcare, information systems, sports or more. This specialization should make the degree highly unique, though some coursework is likely to be common among many different data science master’s programs.

Here’s a look at some possible classes students could encounter in a master’s in data science program:

  • Python for Data Science
  • Mathematical Modeling
  • Big Data Analytics
  • Data Science and Statistical Learning With R
  • Principles of Big Data Processing
  • Deep Learning
  • Data Analytics at Scale
  • Machine Learning for Data Scientists
  • Social Media Analytics
  • Data Mining
  • Bioinformatics
  • Financial and Risk Analytics
  • Natural Language Processing
  • Knowledge Engineering
  • Decision Analytics
  • Computer Vision

Master’s in Data Science Degree Salary

A degree in data science is likely to have extremely broad applications across a range of job titles, industries and day-to-day tasks. For instance, some data scientists are called data analysts and they work within the business or finance departments of companies, helping track relevant company data. Others may become big data engineers, working hands-on to create, test and improve tools to harness massive sets of data.

For this reason, in our analysis of typical data science salaries, we’ve chosen a broad (and perhaps obvious) job title — data scientist. While this title is quite general, it also is among the most frequently sought in job boards and across the U.S. economy.

BLS

The U.S. Bureau of Labor Statistics, the federal government’s official source of employment and wage data does not yet distinguish data science jobs from computer and math jobs, though the job title of statistician is possibly the closest connection, particularly for those who have a master’s degree in data science. That’s because to earn that level of education in the field, one must complete a rigorous statistics education. According to the BLS, statisticians earn a median annual salary near six figures.

Average salary: $92,600

Indeed

Online job board Indeed listed more than 5,600 data scientist openings in early 2020 across the United States, and those with listed salary figures tend to be very well-paying, with about 20% offering wages that are upwards of $130,000. The average is a bit lower but still quite high.

Average salary: $110,000

Glassdoor

About 4,500 data scientist jobs were posted through Glassdoor in February 2020, and most offered salaries of at least $80,000, among those where salary data was included in the posting.

Average salary: $110,000

Payscale

According to Payscale, which aggregates salary and compensation data for thousands of jobs across the U.S. and the world, the average U.S. data scientist earns just shy of six figures, while higher levels of experience and education push wages much higher.

Average salary: $96,004

Ziprecruiter

Job placement and posting board Ziprecruiter reported more than 14,000 vacancies for data scientists in February 2020, and the site reported the average annual compensation for data scientists was in the six figures.

Average salary: $118,758

Job Demand for a Master’s Degree in Data Science

IBM’s prediction that jobs for data scientists will be high through this year seems to be on track with official federal government projections about demand for such professionals. In fact, statistician jobs are expected to continue growing, with 33.9% expansion projected through 2026, though the states have varying rates of expected growth.

Statistician job opening growth, 2016-26, highest and lowest

HighestLowest
Utah87.5%Alaska
Rhode Island66.7%Maryland2.6%
Nevada55.6%Arkansas24.0%
Florida52.3%Kansas25.0%
Arizona50.5%New Mexico25.0%
South Dakota50.0%Oklahoma25.0%
Kentucky44.4%Vermont25.0%
Virginia44.1%West Virginia25.0%
Colorado44.0%Alabama28.6%
Texas43.8%Montana28.6%

All but one state (Alaska) is expected to see demand rise for data scientists, and the vast majority should see job growth of at least 20%. Two states, Utah and Rhode Island, will see meteoric growth in demand for data scientists, with jobs expanding by 87.5% and 66.7%, respectively.

Conclusion

While most people who earn master’s degrees soon see their earnings potential surge (master’s degree-holders earn nearly 20% more than those with a bachelor’s alone), for people with the aptitude and interest in earning a master’s degree in data science, technological advancements and market conditions may help provide the perfect storm. This could mean now is the ideal time to earn a master’s degree in data science, considering high average salaries and huge job growth for years to come.

Additional Resources

Master’s Degree in Cybersecurity Salary Outlook

Across the broad range of cybersecurity-related jobs and fields, individuals who have earned master’s degrees are likely to be highly sought-after for well-paying, exciting jobs that allow them to use cutting-edge techniques in preventing cyber attacks.

For any business, nonprofit, educational organization, government agency or pretty much any other group, cybersecurity is among their most important considerations. It’s not hard to see why; the average cost of a single data breach is nearly $4 million, and thousands of cyber attacks and breaches are expected in 2020.

What can people with a master’s degree in cybersecurity expect to earn, and what is their career outlook over the next several years?

Cybersecurity Education

At the master’s level, education in cybersecurity is likely to be rigorous and highly challenging, but it’s through that challenging work that cybersecurity professionals can ensure they stand out from the crowd. With new techniques being launched seemingly by the day, cybersecurity professionals can’t afford to assume they know everything.

See Also Best Masters Degree’s for a Cyber Security Analyst

But what does cybersecurity education entail, particularly at the master’s level? Here’s a look at some sample courses a person is likely to pick from, depending on their school and educational track:

  • Cryptology
  • Information Security Policies and Strategies
  • Computer Organization
  • Mobile Applications and Services
  • Computer Systems Assurance
  • Security and Privacy in Informatics
  • Internet and Public Policy
  • Data Structures
  • Computer Forensics
  • Network Security
  • Authentication Technologies in Cybersecurity

For most professionals, a master’s degree is likely to represent the height of their academic journey, but for those who wish to contribute to academic research in the field of cybersecurity, a doctoral degree, such as a Ph.D., may be necessary.

Master’s in Cybersecurity Salary

Professionals who have earned master’s degrees in their field can expect to earn much higher typical wages than those with only a bachelor’s degree, associate degree or no college education. In fact, the typical master’s degree holder earns nearly 20% more than their bachelor’s-earning counterparts.

So what does that mean for people who have earned their master’s degree in cybersecurity or a related field? While that depends on the employer, industry and other factors, cybersecurity professionals with master’s degrees should have their pick of well-paying jobs, including one of the most common — cyber threat analyst.

Here’s a look at salary estimates from a variety of relevant sources for this particular job role:

CIA

Though jobs are generally available only in Washington, D.C., the Central Intelligence Agency is an ideal place to work as a cyber threat analyst, or in a similar role. Such analysts work within the agency to gather data and monitor threats against the U.S.

Average salary: $55,539-$97,094

BLS

Cyber threat analysts, or information security analysts, as the Bureau of Labor Statistics classifies them, earn a median salary near six figures in jobs that require them to plan, monitor and improve policies and procedures that protect an organization’s computer systems and networks.

Median salary: $98,350

Indeed

Cyber threat analyst jobs are available across the country, according to online job board Indeed, though a higher concentration of postings will generally be available in the Washington, D.C., area, as well as in other military or national security towns, such as Huntsville, Alabama, and San Antonio, Texas.

Average salary: $65,100-$80,000

Glassdoor

Jobs listed on Glassdoor for cyber threat analysts tend to be very high-paying, and they trend toward technology firms, insurance providers, consultancies and more, with postings listed all across the country.

Average salary: $102,000-$189,000

Payscale

Payscale lists cyber threat analysts as cyber security analysts, though the jobs are likely to be identical in most cases. That site projects the low end of the wage scale in the $51,000 range, but with a master’s degree in the field, salaries should be much higher.

Average salary: $75,746

Ziprecruiter

According to recruiting site Ziprecruiter, the average cyber threat analyst in the U.S. makes a six-figure annual income, and companies across the country are actively seeking to hire people of all experience levels.

Average salary: $115,100

Job Demand for Master’s in Cybersecurity

Cyber threat analysts, particularly those with specialized training in information security, should be in very high demand for the next several years. In fact, according to the BLS, cyber threat analyst jobs will expand by 32%, far higher than the increase for all occupations of about 5% projected through 2028.

These jobs are even expected to grow much faster than all computer occupations, which the BLS projects will grow at about a 12% rate. In every state, cyber threat analyst job openings are expected to expand, from a low of 7.7% growth in Maryland to a high of 50% in both Louisiana and Utah.

Information security analyst job opening growth, 2016-26, highest and lowest

HighestLowest
Louisiana50.0%Maryland7.7%
Utah50.0%Vermont12.5%
Washington43.1%Alaska16.7%
North Dakota42.9%Oklahoma18.3%
Missouri41.9%Mississippi20.0%
Virginia41.4%West Virginia20.8%
Nevada39.0%New Jersey21.3%
Florida38.3%Georgia22.6%
Nebraska38.2%Maine22.6%
Arizona37.8%South Carolina22.7%
Tennessee37.8%Hawaii23.8%

Conclusion

With high wages and growth rates that are among the highest in the country, cyber threat analyst jobs should continue to be some of the most appealing for people with advanced training in cybersecurity. For individuals who are considering graduate programs in cybersecurity, it’s not always necessary to be fully locked in on a possible career or ideal job, but with data as optimistic as this, cyber threat analyst should be a job on the list of anybody with a master’s in cybersecurity.

Additional Resources