5 Top-Earning Data-Driven Career Opportunities in 2020

Data has revolutionised the way organisations conduct business strategy. Over the past two decades it has been well documented that adopting a data-driven approach is the key to greater revenue and success.

Companies are eager to acquire professionals with industry experience to utilise their data in the most effective ways possible. This has created an abundance of lucrative data-driven career opportunities. In this article, we will discover the 5 top-earning data-driven career opportunities in 2020.

1. Senior Data Scientist

Current salary – The current average salary of a Senior Data Scientist in Australia is AU$143,981

Salary projection – Data scientists earn base salaries of up to 36% higher than other predictive analytics professionals with this figure expected to remain steady. 5 billion consumers interact with data on a daily basis with the number projected to rise to 6 billion by 2025. That represents a staggering three-quarters of the world’s population. Data isn’t going anywhere and the demand for data scientists will continue to rise as companies seek professionals who can effectively use their data.

Brief job description – Data scientists’ primary objective is to solve business problems using data-based insights. They work to implement process optimisations through testing models or algorithms and use machine learning and artificial intelligence.

Some required skills include programming know-how (JavaScript, C++, R, Python, SQL). Experience using web services such as Spark, Hadoop, DigitalOcean, and a desire to learn and master new technologies and techniques.

2. Data Architect

Current salary – The current average salary of a Data Architect in Australia is AU$131,043

Salary projection – Businesses have recognised an increase in importance to store and organise data hence the future salary expectations are promising. One big data professional from IBM admits that “more data actually doesn’t make us smarter if we don’t have the ability to consume it”. This Highlights the necessity of data architects in the data chain.

Brief job description – Data architects work closely with data engineers to design databases for companies, allowing for the collection and analysis of big data. They are also responsible for updating and improving their current database.

Some of the essential skills are programming fluency (Python, Java, C, C++), proficiency with database management system software such as SQL Server, Hadoop or Spark, Data mining and modelling tools and machine learning.

3. IT Security Specialist

 Current salary – The current average salary of an IT Security Specialist in Australia is AU$111,160

Salary projection – Cyber security is another growth industry that is experiencing a skills shortage with great opportunity to earn a big salary. Alec Ross, former advisor to the US secretary of State and author of ‘The Industries of the Future’ considers cyber security as one of the most secure career options. He states that if he had to choose an industry that “would most assure 50 years of steady, well-paying employment”, that industry would be cyber security.

Brief job description – IT security specialists or cyber security professionals are required to identify and safeguard computer vulnerabilities to cyber threats posed by hackers, malware and viruses.  A major role that IT security specialists conduct is penetration testing to analyse the effectiveness of their current cyber security system.

Some key skills include proficiency with programming languages (JavaScript, C, C++, Python), a refined attention to detail, excellent communication skills, ability to adapt to rapid changes and a passionate understanding of cloud computing.

4. Data Engineer

Current salary – The current average salary of a Data Engineer in Australia is AU$110,289

Salary projection –  IBM researchers have projected a steady increase in job demand for data engineers with an increase of 28% in 2020. Their research also found that demand for data engineers has surpassed that of data scientists in recent years as companies realise the importance of maintaining their cloud infrastructure. This is good news for the future salary expectations for data engineers.

Brief job description – Similarly to data architects, data engineers must be able to understand the intricacies of the data infrastructure and cloud computing of the organisation. One of their major roles is creating data pipelines, big data platforms and data integrations in databases. Some additional key skills include programming know-how, SQL server competency, Hadoop-based analytics, tools and components of data infrastructure and machine learning.

5. Digital Marketing Manager

Current salary – The current average salary of a Digital Marketing Manager in Australia is AU$99,040

Salary projection – Companies are now seeking digital marketing managers with a data science mindset to drive marketing campaigns and enhance success with generous remuneration. This appears to be the future of digital marketing. Marketing Hiring Trends believe the current demand for digital marketing professionals outstrips supply with 44% of companies seeking to hire more marketers.

Brief job description – A modern-age successful digital marketing manager will have a sound knowledge of data analysis and how to effectively use big data. They will be in charge of planning and managing marketing campaigns to promote their companies’ brand and products. Key responsibilities include analysing metrics and identifying trends.

It’s no secret that data-driven career opportunities are the way of the future and provide considerable opportunity to earn big money. As the number of industries that adopt data science into their business operations increases so does the demand for professionals to upskill and become equipped with the necessary data science and data analysis skills.

If you’re ready to increase your value to your current organisation or pursue new opportunities in a growing sector, then don’t wait any longer. Take the leap and become trained with the Institute of Data’s full time and part time industry focused data science, AI and cyber security programs. Schedule a call today to find out more.