Is a Degree in Data Science Worth It in 2022?
Maybe yes. Maybe no.
A data science degree can open the door to a better salary and advanced career opportunities, but is it worth your time and money?
The answer varies from case to case. As someone who’s learned data science through online courses, I have to admit that the temptation to pursue a data science degree is always there. Naturally, there are some things that a degree can give you that online courses can’t.
That said, to determine whether a degree is worth it for you we have to analyze your professional, educational goals and resources.
In this article, we’ll see some scenarios where a data science degree might be a worthwhile investment in your future and also see alternatives that might fit better to certain situations.
Why are you pursuing a data science degree?
Identifying your goals is key to knowing whether a degree is worth it for you.
Here are some common reasons to pursue a data science degree:
- Start a new career/Switch careers: You want to start a new career in data science.
- Get a (better) job: You’re already a data scientist (or followed a similar path) and consider that a degree can help you get a (better) job/salary.
- To expand your knowledge/specialize: You want to work on projects that require expertise in a specific field of study.
- To acquire skills in new technologies that have developed in data science.
- To gain recognition and credibility.
Did you find yourself in any of the previous points listed? If so, let’s analyze whether any of those reasons are enough to pursue a master’s/bachelor’s degree.
Is a Data Science Master’s Degree Worth it?
Let’s see which scenarios can help you make the most of a master’s degree.
You want to switch to data science
In the past years, many enthusiasts have switched to data science to get better salaries and jobs.
You probably heard that data scientists are in high demand or read that data scientist is the sexiest job of the 21st century.
Don’t believe all the hype. There‘s some truth in those statements, but data science isn’t for everyone.
Why am I telling you this? Because all this hype might lead you to make a bad decision, and only after finishing a mather’s degree program, you’d realize the time and money wasted.
It’s OK — everyone makes mistakes. But a $100,000 mistake is way worse than a $100 mistake, right? This is why, if you’re new to data science, it’s a great idea to take first an inexpensive online course rather than enrolling into a master’s degree program right away.
You want to get a better job/salary
If you already work in any data-related field and want to have a better job/salary, probably a master’s degree would be worth it.
If you’re looking for advanced data science roles, you will need either many years of experience as a data scientist or a master’s degree (most of the time both).
While an advanced degree may not be essential to get hired for an entry-level data scientist role, it is likely to become more important as you look to advance in your data science career
Also, If you want to get a better salary, you have to analyze your return on investment (ROI).
A quick Google search will show you that graduates with a master’s degree experience less unemployment than those with a bachelor’s degree. That said, it’s much better to examine some senior-level positions in sites like Glassdoor to get a more accurate ROI.
You want to expand your knowledge/acquire new skills
If your goal is mainly to expand your knowledge or acquire skills in new technologies that have developed in data science, you could find cheaper options than masters’ degrees out there.
A master’s degree isn’t bad, but it might not be worth the money if you only want knowledge. Also, the industry develops fast, so new technologies you learn in a master’s program might get outdated faster than you think.
A good alternative here is Coursera. Coursera works with universities and colleges, so you’ll get some of the pros of a master’s program such as a well-structured curriculum and highly specialized professors at a better price.
Is a Data Science Bachelor’s Degree Worth it?
A bachelor’s degree is a great option for every aspiring data scientist. However, not many universities offer a specialized data science degree.
You can choose a degree in fields related to data science though. Math and computer science are good options, but, above all, make sure your program is focused on programming, statistics, and math.
Here are some of the classes that should be included in the curriculum.
- Statistical Computing
- Data Structures and Programming
- Programming and Problem Solving
- Algorithm Design and Analysis
- Machine Learning
Also, make sure the program you choose can help you get an internship, so you get real-world data science experience as soon as possible.
6 Things to Consider When Choosing a Degree
Finally, these are some things that the data science program you follow must have (regardless of your goals):
- Networking Opportunities
- Internships
- University Reputation
- Specialization
- Comprehensive Curriculum
- Capstone Projects
If possible, check what past graduates have gone on to do. That will give you a good idea of the potential of the program you wish to join.
Conclusion
Enrolling in a master’s/bachelor’s degree program is an important decision. To find whether this is worth your time and money, list your goals, check the pros and cons of a degree in the situations mentioned before and keep in mind the 6 things a program at least should have before joining one.
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