5 Jobs a Master’s in Data Analytics Can Unlock

• A master's in data analytics provides credentials leading to high-level positions.
• These positions include chief data officer, econometrician, and senior business analyst.
• Another positive for a master's in data analytics is the return on investment.
• One survey reported data analysts earned between $109,900-$166,800 in 2023.

Maybe your heart is set on spending your entire career working in data analytics. But suppose you're thinking about getting a master's in data analytics. Wouldn't it be nice knowing it can lead to other jobs outside of data analytics, just in case?

A master's in analytics can provide transferable skills for different data-related jobs. These jobs often need core skills taught in master's in data analytics programs. These skills include statistical analysis, data visualization, and data-driven decision making.

In some cases, a master's in data analytics can provide the credentials you'd need for senior and executive-level roles. It can also provide a bargaining chip for graduates with fewer years of work experience. For example, some roles may require a bachelor's in data analytics (or a related degree) and six years of experience or a master's with four years of experience.

Read on for a list of five examples of jobs a master's in data analytics can unlock.

1. Chief Data Officer

A chief data officer (CDO) oversees a company's strategic approach to data. They take the lead in various data-related functions: data quality, governance, and analytics. Chief data officers are crucial for turning data into business value and often work at the C-suite level.

The need for chief data officers has been growing. A NewVantage Partners survey found that the number of firms with chief data officers or analytics officers rose from 12% to 74% between 2012-2022. Companies usually seek highly motivated candidates with extensive leadership experience, sometimes seven or more years.

Average Base Salary: $168,653

2. Cryptographic Vulnerability Analyst

Cryptography has existed for years. In the digital world, it's the process of hiding or coding information to protect secure information. A cryptographic vulnerability analyst looks for weaknesses or problems in codes that protect information from third parties. Bank cards, computer passwords, and e-commerce use cryptography to protect sensitive information.

Degrees in computer science or cybersecurity are the most relevant to the field. But cryptography and data analysis have several crossover skills. Decoding encrypted data relies on an understanding of data structures. Programming languages (i.e., Java, Python, C++, etc.) and advanced mathematics (i.e., linear algebra, algorithms) are also important.

Median Annual Wage: $112,110

3. Statistical Reporting Analyst

A statistical reporting analyst assists businesses in making decisions by collecting, analyzing, and presenting data. They collect data from surveys, studies, and other sources and use statistical and data analysis software to identify patterns. They also generate reports and visualizations to help explain their findings.

Statisticians are among the fastest-growing jobs in the country. The BLS predicts that mathematicians and statisticians will see a 30% increase in job opportunities from 2022-2032.

Median Annual Wage: $98,920

4. Econometrician

Econometrics use economic data to study and make predictions about economic theories. For example, they may use statistical techniques and mathematical models to analyze historical data on unemployment rates and economic growth.

You can apply core skills from a master's in data analytics to econometrics, including statistical analysis, mathematical modeling, and data interpretation. The BLS projects jobs for economists, including econometricians, to grow by 6% from 2022-2032, faster than the average for all other jobs.

Median Annual Wage: $113,940

5. Senior Business Analyst

Data analysts and business analysts are closely related. For example, they often work together on data-focused projects. A master's in data analytics provides many transferable skills to business analysis, while also providing additional education employers look for in more senior roles.

A master's degree in data analytics provides strong analytical, problem-solving, and critical thinking skills. These skills are extremely valuable for business analysts. Other transferable skills include working with and extracting insights from data and making data-driven recommendations based on the results.

Median Annual Wage: $95,290

Frequently Asked Questions About a Master's in Data Analytics

Is a Master's in Data Analytics Worth It?

Investing in a master's in data analytics can be worth it for a few reasons. Because it's a graduate-level degree, it can provide the qualifications you need to reach senior and executive-level roles. These positions often come with significantly higher earning potential.

In 2023, data analysts from over 155 companies earned an average base salary of between $109,900-$166,800, according to a Burtch Works survey. Work experience and advanced degrees can contribute to earning higher salaries on the scale.

A master's in data analytics is also versatile. In addition to the careers previously mentioned, graduates can pursue careers as a big data engineer, marketing analyst, quantitative analyst, and more.

How Much Does a Master's in Data Analytics Cost?

The National Center for Education Statistics (NCES) does not have specific costs of a master's of data analytics. But data is available for fields related to data analytics. The average tuition costs for related master's degrees are:

• Business, management, and marketing: $16,120
• Computer and information sciences: $16,750
• Mathematics and statistics: $19,649

How Long Does It Take to Complete a Master's in Data Analytics?

Most master's in data analytics programs take 2-3 years to complete. Some programs may have a faster timeline. For example, Binghamton University's master of science in data analytics program takes about 10 months to complete. Others, such as Franklin University's 19-month graduate data analytics program, may take longer.