How much can a job in data science pay you in SA?

Many industries in the world are turning to data to make informed business decisions, which has increased the demand for skilled data scientists.

Asif Hassam, chief technology officer at Zaio says the demand presents a unique opportunity for individuals to capitalise on their career path.

What is data science?

He explains data science as the field where professionals extract useful information from big and complicated data with the aim of helping businesses make decisions, predict the future and improve operations.

Those with the necessary skills to be in the field can fulfil roles such as data scientist, data analyst, and data engineer. The individuals will be tasked with data collection, management, analysis, interpretation, and reporting of data.

“One of the key reasons data sciences are so critical today is the sheer volume of data being generated constantly.”

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The rise of data science

He adds that they have noticed an increase in demand for data scientists in industries such as finance, banks and FinTech, as they use the professionals to detect fraud, evaluate credit risks, and offer personalised services.

“Retailers use consumer data to optimise inventory and refine marketing strategies, while agriculture benefits from precision farming techniques that boost crop yields and minimise waste.”

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How much data scientists get paid

Referencing a study by Payscale into how much data scientists get paid, he says an entry-level individual with less than a year’s experience can expect to earn an average of R364,803 per year (R30,400 per month).

While a mid-career professional with five to nine years of experience can earn up to R624,232 annually (R52,019 per month), and an experienced data scientists with 10-19 years of experience can earn salaries as high as R915,628 per year (R76,302 per month).

“These numbers illustrate why data science is one of the most lucrative fields in the tech space right now. Beyond competitive salaries, data science offers job security and vast opportunities for career advancement as companies continue to rely on data to remain competitive.”

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Skills required for data science

He says a combination of technical and soft skills is required for an individual to thrive in data science. “Core technical skills include proficiency in programming languages like Python, statistical analysis, machine learning, and data manipulation techniques.”

He outlines soft skills as critical thinking and communication as important because data scientists need to translate complex data into easily digestible insights that stakeholders can act upon.

“Thus, being able to present data-driven solutions clearly and concisely is a key attribute that distinguishes top performers in this field.”

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