Businesses are adopting data-driven decision-making now more than ever. They need skilled data scientists that can make sense of massive real-time data. Data scientists are expected to help solve issues that can vastly affect a company’s success trajectory.
This kind of expertise is one of the many reasons data scientists can find employment in different industries. But, what industry hires the most data scientists? This article will answer that question and describe what data science jobs you could apply for.
What Does a Data Scientist Do?
Data scientists are responsible for gathering and interpreting data to help organizations succeed. They ensure that the datasets they collect are reliable and are used to a company’s advantage in its business roadmaps and strategies.
Responsibilities of a Data Scientist
- Collect data from a wide range of sources like surveys, social media, and website cookies.
- Clean up collected data, categorize raw data, find inconsistencies or missing data to avoid analysis pitfalls.
- Analyze data, seek out patterns and trends, and present their findings to the business to recommend improvement areas and opportunities.
- Interpret data to develop ideas for resolving concerns or missed opportunities.
- Implement data modeling to arrange and simplify data processing.
How Much Can You Earn as a Data Scientist?
The median salary for a data science professional is $98,280, according to the US Bureau of Labor Statistics. The bottom 10 percent earn $52,950, while the top 10 percent earn $165,230. You can earn a larger annual salary as you gain higher levels of experience and enhance your data science skills.
Demand for Data Scientists in 2022
BLS reports that data scientist jobs are fast-growing, with a projected 31.4 percent growth between 2020 and 2030. Glassdoor also noted the data scientist profession as the second-best job in America in 2021.
Which Industries Use Data Science the Most?
The financial services, information technology, healthcare, retail, and media and entertainment industries presently hire most data scientists. This isn’t surprising, given the increased use of digital technology and the need for businesses in these industries to evolve and adapt to changing times.
Top Industries With Data Science Jobs
Financial Services
- In-demand jobs: Application support analyst, senior machine learning modeler, data scientist team lead, associate data scientist, data scientist/risk modeler
Data scientists in the financial industry are in high demand, particularly in banking and insurance companies. They find ways to detect fraud and risks, identify revenue opportunities, or get through a recession without any considerable financial damages.
Considering these demands for data scientists, a financial analyst job outlook is projected to grow by six percent. This is as fast as the national average for occupational growth. Candidates with business acumen in addition to strong analytical skills have a good chance at succeeding in this field.
Top Attractive Employers for Data Scientists in Financial Services
| Company | Global Headcount | Hiring In | Hiring For |
| CalPrivate Bank | 51 – 200 | Remote | Application Support Analyst |
| Cash App | 1,001 – 5,000 | San Francisco | Senior Machine Learning Modeler, Financial Crimes (Cash App) |
| JPMorgan Chase Bank, N.A. | 10,000+ | New York | Wealth Management, Data Intelligence Group (DIG), Data Scientist Team Lead (ED – New York OR London) |
| KPMG | 10,000+ | San Francisco | Associate, Data Scientist – Financial Services Statistical Modeling |
| Moody’s Analytics | 10,000+ | New York | Data Scientist/Risk Modeler |
Information Technology
- In-demand jobs: Junior data scientist apprentice, data scientist, data science analyst
Data scientists can be used in information technology for tech product and service development, software and hardware management, cyber security risk management, customer trend and pattern predictions, and to create actionable tech strategies. Ultimately, tech companies use data scientists to save on technology costs or increase revenues.
The computer and information research scientist job outlook is 22 percent. Furthermore, computer and information systems manager jobs have an outlook of 11 percent by 2030. These job growth rates indicate that opportunities for data scientists in information technology are going to be growing over the next 10 years.
Top Attractive Employers for Data Scientists in Information Technology
| Company | Global Headcount | Hiring In | Hiring For |
| 139,000+ | Mountain View, Sunnyvale, New York | Data Scientist, Engineering | |
| IBM | 10,000+ | San Jose | Junior Data Scientist Apprentice |
| Intel | 10,000+ | Hillsboro | Data Scientist |
| Microsoft | 10,000+ | Bellevue | Data Scientist |
| Oracle | 10,000+ | Denver, Remote | Data Scientist |
Healthcare
- In-demand jobs: Senior data scientist, data scientist, healthcare data scientist, healthcare statistician
Data science is used to find, analyze, and develop actionable insights from healthcare data. For instance, this field of work can help map the spread of viral infection, increase efficiencies in hospitals and healthcare facilities, improve diagnostic and treatment procedures, and more.
The BLS reports that healthcare dominates in the top 20 fastest-growing industries for employment opportunities, making it a great field to explore for data scientists. An experienced data scientist in the healthcare industry can help create ways to improve people’s lives.
Top Attractive Employers for Data Scientists in Healthcare
| Company | Global Headcount | Hiring In | Hiring For |
| Amino, Inc | 11 – 50 | San Francisco | Senior Data Scientist – Healthcare |
| Ascension | 10,000+ | Warren | Data Scientist – Healthcare |
| CVS Health | 10,000+ | New York | Data Scientist (Healthcare) |
| Landmark Health | 1,001 – 5,000 | California, Remote | Healthcare Data Scientist |
| TriHealth Inc. | 10,000+ | Montgomery | Healthcare statistician |
Retail
- In-demand jobs: Applied scientist, data scientist, head of machine learning, senior project data analyst
Data scientists are sought-after in the retail industry because of their expertise in processing and making sense of massive data sets collected from different types of consumers. They help retail companies better understand market trends and consumer behavior, needs, and desires. They draw insights from data to improve products, services, and revenues of a retail business.
According to the BLS, traditional retail jobs are not expected to grow much by 2030. However, ecommerce, a rising subset of the retail industry, is expected to create around 450,000 jobs by 2026. This makes retail still a viable industry to pursue for data scientists.
Top Attractive Employers for Data Scientists in Retail
| Company | Global Headcount | Hiring In | Hiring For |
| Amazon | 10,000+ | Seattle | Applied Scientist II, Retail Pricing Science |
| Apple | 10,000+ | Cupertino | Data Scientist, Natural Language Processing (NLP) – Apple Retail Online |
| Chewy | 10,000+ | Minneapolis | Head of Machine Learning – Retail Forecasting |
| Nordstrom | 10,000+ | Seattle | Data Scientist – Merchandising Analytics |
| Target | 10,000+ | Minneapolis | Sr Project/Data Analyst Food and Bev Supply Chain |
Media and Entertainment
- In-demand jobs: Forecasting analyst, business intelligence developer, people analytics partner, junior data scientist, content analyst
In this industry, data science is used to gain an understanding of the consumers’ likes and dislikes. Then, data scientists make calculated recommendations of pages, videos, or other media. Recommendations translate into valuable purchases, views, and clicks.
This data is also used to enhance brand awareness and product and services consumption. Media and entertainment companies need machine learning and artificial intelligence abilities and skills to achieve these goals.
The entertainment industry’s projected employment growth is 22 percent by 2030. This means that opportunities await data scientists seeking employment in this industry. Most entertainment companies are always eager to hire employees who can help them develop strategies to gain viewers’ attention.
Top Attractive Employers for Data Scientists in Media and Entertainment
| Company | Global Headcount | Hiring In | Hiring For |
| Disney Streaming | 1,001-5,000 | Seattle | Analyst, Forecasting |
| Creative Artists Agency (CAA) | 1,001 – 5,000 | Los Angeles | Business Intelligence Developer – Media & Entertainment |
| Netflix | 5,001-10,000 | Remote | People Analytics Partner |
| ViacomCBS | 10,000+ | New York | Jr. Data Scientist |
| WarnerMedia | 10,000+ | New York | Analyst, HBO Max Content Analysis |
What Education Do You Need to Be a Data Scientist?
Some employers will want you to have a bachelor’s or master’s degree in computer science or related fields. However, this isn’t the only way to gain the skills you need to become a data scientist. Many students attend bootcamps offering intensive fast-tracked programs. You may also self-study to become acquainted with the relevant functions, skills, and theories.
On top of having an education, you will want to develop technically advanced skills to find success in this field. You’ll need more than basic statistical abilities. You will want to practice skills in data visualization and learn data science coding languages like JavaScript, Python, and Scala.
Other skills that may be valuable are excellent communication at all levels, critical and creative thinking, and a business mindset. Starting off with an entry-level job or an apprenticeship is a great way to develop these skills while gaining essential real-world experience.
Can You Become a Data Science Professional with a Coding Bootcamp?
Yes, you most certainly can. Data science bootcamps can open doors for those who otherwise might not have access to jobs in the data science field. A degree in this field could take as long as three to five years. The best data science bootcamps take as little as a few months, depending on the flexibility of your schedule.
What Skills Do You Need to Be a Data Scientist?
Statistical Skills
Comprehension of statistics and statistical analysis is paramount to all data scientist roles. Understanding A/B statistical testing and probability analysis is a daily part of this role. You will need to be able to use data to create actionable plans to help businesses.
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Programming Languages
One of the key skills for data scientists is understanding and knowing how to use tech industry programming languages. These languages include JavaScript, Python, and others. Coding and programming are used to create algorithms that you will need for data collection and processing.
Data Visualization
Some companies prefer to see the data in the form of graphs as opposed to an entire dataset. Being able to convert the datasets into this form for communication purposes is a necessary technical skill. You will often use tools like D3.js or Tableau.
What’s the Best Industry for Me as a Data Scientist?
There are vast opportunities for data science roles across industries, and the best role for you depends on your individual goals and interests. You could work for tech companies, the education sector, or even in legal services.
The reality is that even the most advanced and intelligent machines still need to be governed and perfected by human hands. That’s where you, as a data scientist, can play a valuable role in almost any sector.
What Industries Hire the Most Data Scientists FAQ
Financial services, information technology, healthcare, retail, and media and entertainment are the industries hiring the most data scientists right now.
Data science combines programming, mathematics, and statistics to allow businesses to gain important insights. These experts help facilitate calculated business decisions that can enhance processes, products, and services.
Yes, you can attend a bootcamp or self-study to enter data science careers. However, having a degree means more senior roles will become available to you.
Every industry today uses data in one form or another. Data science can be found in almost every industry, fueling development and growth for the future of business.
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