When we think of picking a career, either for ourselves or our children we want it to be not just in demand, but also lucrative. With so many fields to choose from, the decision can be really confusing, to say the least.?
Recently, Data Science as a field has been gaining a lot of popularity with respect to job availability and recent research has revealed that India is expected to see 1.5 lakh new jobs in the field of Data Science this year.
The research was conducted by Great Learning -- an EdTech start-up that helps working professionals and students in upskilling with industry-grade programmes of not just Data Science, but also AI, Machine Learning, Cloud Computing etc.?
The research was conducted in the form of a survey amongst working professionals in the field of Data Science across various kinds of industries.?
As per the survey, 70 percent job postings in this domain are currently for Data Scientists who have less than five years of work experience. Data science positions are also offering the most amount of money -- from 0 to 2 years of experience getting up to 7 lakhs per annum, and with 15+ years of experience expected to get upward of 50 lakhs per year.
When you take a look at fields demanding such jobs, BFSI (Banking Financial Services Insurance) tops the list at 38 percent, followed by Energy maxing at 13 percent. Next is Healthcare and Pharma, coming at 12 percent. Jobs with e-commerce in this field is around 11 percent. Media is on 7 percent and Retail at 6 percent. The last category was Others at 13 percent.
The sector has been affected by a striking shortage of skilled talent in India. Another study conducted by Great Learning revealed around 97,000 jobs were lying vacant because no one skilled enough existed to take them.?
Now you might be wondering how much are they really offering for people in the field of Data Science with the aforementioned experience, the survey has those numbers for us too. As per the survey, BFSI is offering 13.56 lakhs per anum on average.?
Coming second on the list is Manufacturing as well as Healthcare, both offering an average of 11.8 lakhs per anum. IT comes third at 10.06 lakhs per anum with e-commerce coming fourth at 10 lakhs per anum.?