The Current Outlook for Data Science Occupations

September 12, 2023

Data is the future and it’s data science that’s going to get us there. Those who know how to get the most out of data hold the proverbial keys to the kingdom. One of the sure-fire ways to be the one holding those keys is pursuing your data science occupations online degree.

This is an exciting time for those who think about tomorrow just as much as they think about today. The world is in the midst of a technical revolution where the power of data is being unlocked in significant ways.

Since we’re on the topic of data science, let’s talk about what a data scientist is. These are the people that take data sets and through analysis find the insights hidden within. This is done by collecting, analyzing and visualizing big data. These findings then help key decision makers take risk-averse actions. Data science professionals are the conduit between observations and important business decisions.

This is achieved by using visualization tools to translate the insights into something digestible and actionable. Once all this is ready, the data scientist presents their findings to key stakeholders and makes their recommendations.

This process can be broken down into three main categories: mathematics, software and visualization.


Data science is driven by math. Knowing the right methods and approaches means the difference between success and misdirection. A foundational understanding of math is critical in understanding analysis.

The advances in programs have been astounding, but software is useless in the wrong hands. Being fluent in programming languages such as  Python, R and SQL opens doors and aids in the accuracy of the insights. 


Data visualization tools that are now available aid in turning insights into something actionable. Most people need guidance when interpreting insights. Presenting findings in a way that is understandable is just as important as the analysis itself.

As mentioned, many companies are seeing remarkable benefits when these three disciplines work in concert. This, in turn, has transformed data science jobs into in-demand careers. The numbers prove this to be true.

The median salary is currently $100,920 and the field is expected to grow 36% between now and 2031 (National Bureau of Labor Statistics, 2023). These indicators alone testify that the field is hot right now and all signs point to it only becoming more significant. If there was ever a time to pursue a master’s in data science, it would be now.

All the innovations that have improved the field, and the momentum they’re generating, have led to career opportunities blossoming across all sectors. Having access to performance-enhancing insights helps people who manufacture keychains all the way to individuals running for the highest office in this country. It cannot be understated how powerful this career has become—and that it’s applicable across all industries, regardless of output.

Startup culture has truly embraced this revolution, seeing how it can be the key factor in bringing their world-changing concepts to life. In addition to hedging risks, data scientists also examine the market to identify key areas in need of disruption. At the opposite end, government jobs and nonprofits are also taking note. When every dollar counts, data scientists can determine where aid is most needed and how it can be maximally impactful.

With all these applications for the field, there’s another positive result—demand. This helps keep salaries competitive. However, the popularity of data science means more people are also entering the field, making open positions as competitive as the salary. As time goes on it will be more and more critical to have key differentiators on your resume to pursue the best roles available.

One of the best ways to stand out is with a master’s in data science. Only 34% of people in the field have one, meaning those that do have an advantage. It’s also often required to advance into more high profile roles and pursue career goals. This achievement helps applicants get recognized and speaks to the skills they learned attending the program.

Data science degrees can be the difference between being a data analyst and a data scientist. Advanced degrees become an important tool when career growth is a priority. 

Stevens Institute of Technology has always been at the forefront of this field and understands the power of a master’s degree. Our program is designed to equip you with the tools and knowledge to take control of your professional trajectory. The key to that is our approach of combining a solid mathematical foundation with cutting-edge software and technology.

Our coursework dives deep into the mathematical principles that drive unlocking insights. We teach statistical methods and optimization to examine the process of procuring data and having the tools to complete complex analysis of it. A critical understanding of algebra is fostered to allow for flexibility in developing analytical processes and algorithms. Courses in calculus and probability provide a deeper understanding of the mathematics involved in analyzing data.

Once that foundation has been established, it allows students to engage in more challenging schools of thought. Stevens covers machine learning as it opens up a whole suite of tools that empower the process. We explore cognitive computing to allow students to unlock the power of artificial intelligence and machine learning in entirely new business applications. Natural language processing is also covered to further explore the connection between computers and how our brain works.

These two foci result in a holistic program that greatly benefits the students. It’s important to us that students graduate with the tools to use the most current and powerful software. At the same time, we provide the mathematical understanding behind the software so graduates can use the programs to their full potential.

We are also fortunate to know this approach works and leads to truly powerful results. Our alumni have landed jobs at companies like Amazon, Bank of America, New York University, Disney Streaming Services and many more.

The strength of the program has been recognized as well. Stevens was named one of the Top 20 U.S. Private Schools for Best Career Placement by The Princeton Review (2022). UniversityHQ recognized Stevens as the No. 10 Online Master’s in Data Science program in the country (2023). But perhaps the most significant fact is not an award, but simply that three months after graduation, 100% of MSDS graduates in the Class of 2021 accepted job offers (based on data from 50% of spring 2021 full-time program graduates).

This is all possible because of the way we’ve designed our program to support data science career success. Another benefit is being online allows for the work to be completed around your schedule. This flexibility means you can pursue your master’s while continuing to work.

We know the importance of continued income and don’t want people to have to make professional and financial sacrifices. The program is designed to be rigorous, but not at the expense of having balance in your life. And another benefit of the program being selective is that your classmates, professors and alumni become valuable additions to your network.

Data science is a field that is growing at a remarkable rate and the demand is only increasing. With the power of the insights that are being unlocked, the importance of data scientists is truly understood. For many companies, this is the path to the future. A good data scientist can be the difference between blazing new trails and being left behind by the competition.

As a forward-thinking institution, Stevens has always understood the transformative power of mathematics. We designed our master’s in data science program to set our graduates up for success. For those looking to take the big, bold next steps in their career, our program could be the perfect fit for you. Partnering with us means the academic decisions you make today, result in professional wins tomorrow.