As the tech hiring spree continues, there is increasing interest in data science as a career and how much a data scientist could potentially earn. That comes as no surprise as COVID-19 has accelerated digital transformation and transformed the future of work. The demand for data science skills have skyrocketed and many are considering it as their next profession.
Data scientists have a wide range of responsibilities, including:
- Understanding the business problem that they are trying to solve
- Gaining access to the dataset
- Processing and exploring the data
- Identifying patterns in the dataset
- Analyzing the results
- Presenting their findings to stakeholders
Data science can give businesses a better understanding of their customers so companies provide better products and services to improve their profits.
What do data scientists do?
Companies rely on data scientists to make better business decisions. Data scientists are skillful in analysing large sets of data using the latest analytical methods, machine-learning algorithms and other tools to extract meaningful insights.
A typical day for a data scientist involves looking at data and formulating insights that will help businesses take the right actions. They can help business leaders make better decisions by using their expertise in math, statistics, and computer science to find answers to their most pressing business questions.
Demand for data scientist
Data scientists in Singapore are in high demand and it is easy to see why. A report by LinkedIn titled 2020 Emerging Jobs Singapore showed that data scientist roles are among the top 5 emerging jobs, having seen tremendous growth over the past 5 years.
Their roles in data mining, machine learning, predictive analytics, artificial intelligence (AI), and deep learning are key to the success of many businesses as they allow companies to make better decisions based on their data.
Serving as a technological hub for many start-ups and tech giants in the region, Singapore’s demand for professional data scientists will only continue to grow as it becomes more data-driven.
Salary of a Data Scientist
On Glassdoor, it was found that the average salary for a Data Scientist is $6,000 per month in Singapore. Salaries estimates are based on 449 salaries submitted anonymously to Glassdoor by Data Scientist employees in Singapore.
According to Talent.com, the average data scientist salary in Singapore is $83,200 per year. The median based on 280 salaries is $6,933 per month.
A data scientist’s salary can vary depending on the company they work for, the industry they are in, and their level of experience. Entry-level positions start at $63,300 per year, while most experienced workers earn up to $105,780 per year.
Explore A Career In Data Science
A highly sought-after skill in data scientists is Python programming. With Vertical Institute’s Data Science Course, you will discover the foundations of machine learning and artificial intelligence when you learn Python programming.
If you are looking for a successful career in tech, our online course in data science can steer you in that direction.
About Vertical Institute
Vertical Institute prepares individuals for the jobs of tomorrow. We specialise in teaching in-demand skills, building the next generation of changemakers and inventors through our world-class tech courses and certifications.
Singaporeans and PRs can receive up to 90% IBF Funding off their course fees with Vertical Institute. The remaining fees can be claimable with NTUC UTAP Funding or SkillsFuture Credits.