Is a Master’s Degree in Data Analytics Worth It?

Is it worth it to get a master’s degree in data analytics? If you’re considering going back to school to earn a Master of Science in Data Analytics, that’s a critical question to answer. The decision to pursue a master’s degree is significant, and return on investment is likely a major factor in your decision process.

Here are some reasons an advanced degree in data analytics may be right for you:

In-Demand Career

Although data analysis is a relatively new field, the demand for qualified data analysts is skyrocketing. According to LinkedIn’s Emerging Jobs Report, companies around the world are looking for qualified candidates to fill data analytics positions. Data analysis ranked in the top 25 list of skills companies most needed in 2019.

With so many companies looking for qualified data analytics professionals, having a master’s degree in data analytics from Walsh can help put your career on the fast track. Career opportunities span many industries as well, such as energy, healthcare, higher education, manufacturing, marketing, telecommunications, and more.

High Salary Potential

You may be wondering, “How much more can I make with a master’s in data analytics?” No discussion of the relative worth of a master’s degree is complete without a high-level view of potential salaries in the field. After all, it wouldn’t make sense to devote your time and hard-earned money towards a degree that offered low paying jobs once you graduate.

Fortunately, studies suggest that a career in data analytics can be highly lucrative. According to the 5th-annual Burtch Works Study: Salaries of Data Scientists, the median base salary for a data analyst ranges from $95,000 (for those with 0-3 years of experience) all the way up to $165,000 (for those with 9+ years of experience.) The salaries for data analysts don’t top out there. Professional data analysts with 10+ years of experience who also manage others make, on average, $250,000 per year.

When considering a degree in data analytics, it’s also important to compare data analyst’s potential salaries with those of other predictive analysis professionals. Studies indicate that data analytics professionals earn base salaries up to 36% higher than those of professionals in other sectors of predictive analysis.

While salary is only one piece of the puzzle to consider when deciding on a master’s program, it’s certainly got to be one of the most important.

Career Satisfaction

Having an in-demand degree with high salary potential understandably sways many potential students towards pursuing a career in data analytics. But earning a Master of Science in Data Analytics isn’t only about how much you’ll earn or how easily you’ll find a job: it’s also about the quality of life an advanced degree helps make possible. What’s the use of a degree if, once you earn it, you’re miserable?

The great news is data science isn’t just a high paying and in demand career: it’s also considered one of the best jobs in America. Data scientists report an overall job satisfaction rating of 4.4 out of 5 on job satisfaction and 4.8 out of 5 for an overall job score. When reporting such high job satisfaction numbers, data analysts often point to the nature of the work they do within their organizations. They’re in an excellent position to solve real world problems and make significant positive impacts on the organizations they work for. So, if you’re someone who enjoys making a difference and being a valued team member, pursing a Master of Science in Data Analytics could be an excellent fit.

Moving Forward With Walsh

The decision to pursue a Master of Science in Data Analytics may represent a major turning point for you. Here are some reasons to consider Walsh:

Will you commit your time, money, and energy towards pursuing a master’s degree to advance your career, or will you continue down your current path? We can help you answer those questions with confidence. Reach out to one of our academic advisors for more information on the Master of Science in Data Analytics, and let’s get your career moving in the right direction for you.

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