A few years ago, in Singapore at least, there were a lot of ads that shared the amount Data Scientist earns, it definitely ranges on a VERY high side like USD$120K to USD140K. Yes, you saw that right! But before you start demanding a raise from your boss, especially if you are in Singapore, please note that that is the salary drawn in the United States, and the last I check they do have federal and state taxes that takes large chunks of it.
Being in the field long enough, money can be a motivator but never the best motivator. There is much frustration working as a data scientist. For instance, getting the data to the right quality and amount, communicating your insights to stakeholders, bugs in your programming, etc just to name A FEW.
The field is constantly being updated with its frontiers pushed further, both at the infrastructure and algorithms front, so data scientists need to dedicate time to learning as well.
If you are in this field for the money, you will not last long because the frustrations and the constant need to catch up will definitely trump the high salary you have gotten and you will be miserable.
However, if you are passionate about numbers and like to make an impact through data, together with the salary (still no promise but can be decent), this is the right job for you. All in all, passion is your best motivator, together with a decent salary. Do not join the field unless you are passionate about it. How do you know?
I hope to keep the newsletter open to as many as possible. :) If you have benefited much from my posts and will like to join my cause, consider making a “book" donation. Link at the bottom of the newsletter or here. :)
Want to join the industry? Start doing a project! Start downloading datasets and do a project on it. While doing the project(s), you also will get to know where your strengths and weaknesses are, where the gap in skills and knowledge are as well. More importantly, ask yourself if you enjoyed the process. If the answer is a resounding “YES”, welcome to the field! But remember, it is a journey, never an end. Have fun and enjoy it! Finished the previous project already? Let’s move to another! :)
All the best in your career, regardless of whether being in AI or not. :)
Any thoughts you’ll like to share? Put them in the comments below. :)
Recommended Content
How should you work on your CV/resume? <Post>
Why should you work on your own Data Science project? <Post>
From a book by "So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work You Love", Cal Newport mention against just chasing our passions and focusing on skills. I am weary of passion being an overly hyped word, and I usually prefer to focus on the idea of being curious :) Interesting article to spark more discussions on keeping people's motivation beyond financial gains !