News / Blog: #data-scientist

Salary check: This is what Data Scientists earn in 2023

In Germany, the average annual salary of a Data Scientist in 2023 is around 77,000 euros gross per year. However, this figure varies depending on experience, additional qualifications, and the size of the company. Some of the most experienced Data Scientists can earn an annual salary of up to 150,000 euros. In addition, Data Scientists who are involved in the development of products may receive an additional bonus or stock options.

How to become a Data Scientist?

To become a Data Scientist, you will need to acquire a range of skills and knowledge. This includes a deep understanding of the Python and R programming languages, an understanding of mathematical and statistical concepts and skills, and an understanding of databases, visualization, and machine learning. You will also need to have basic project management and client interaction skills.

What does a Data Scientist do?

A Data Scientist is an expert in analyzing large amounts of data. He or she can process data from different sources and turn it into valuable knowledge using algorithms and statistical methods. He or she presents data in a visual form in order to identify trends and correlations and gain valuable insights. Furthermore, a Data Scientist can also make predictions and recommendations based on the analysis of the collected data.

What does a data engineer do?

A Data Engineer is responsible for creating, managing, and optimizing databases and data storage systems. They write software that captures, processes, transforms, and stores data from various sources. They work closely with Data Scientists and other Data professionals to understand and manage data streams. You will also be able to create data visualizations to make the results descriptive.

Become a Data Scientist - Study Data Science or not?

Many students and high school graduates ask themselves what, in view of the future, would be a good and thus above all sustainable career choice.

If there is a fundamental interest and talent in the topics of IT, software, programming and statistics and mathematics, a number of possible courses of study could be listed.

Whoever finds the profession of a programmer or data engineer too one-sided should look into the job description of a data scientist.

In contrast to pure programmers, the profession of a Data Scientist combines planning, programming and statistical analysis and can therefore definitely be considered more diversified.

Currently, Data Scientists are highly demanded professionals in the labor market. However, whether labor demand in Data Science will continue to exceed supply remains to be seen.

Because in addition to the traditional route of studying, e.g., computer science or business information systems or bachelor's and master's degree programs directly in the field of Data Science, there are an increasing number of fast-track courses and private training programs designed to impart the skills in demand on the market in a compact or condensed format.

The increasing number of available Data Scientists, the further globalization and flexibilization and the increasing acceptance regarding the possible elimination of the need for a degree, could lower the salary level again, seen in the long term. At the same time, simpler tasks in the day-to-day work of a Data Scientist will be able to be partially or completely taken over by algorithms due to automation and advances in the field of artificial intelligence / AI.