A Ph.D. in Data Science enables a promising student to develop their knowledge, mastery, and expertise to a higher level. The work environment for Ph.Ds. can be quite different. Ph.D. graduates are typically more free to work on what interests them and topics they are passionate about. There is some potential financial freedom as well. According to the Bureau of Labor statistics, Ph.D. graduates are likely to make $1,000,000 to $2,000,000 more during their lifetime than graduates with a Bachelor’s degree in the same field.
Career paths and options for Data Science Ph.Ds.
Ph.D. graduates typically pursue one of two career paths, sometimes moving between both:
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Ph.D. Jobs in Academia: Ph.D. graduates may work as teaching professors, research professors, post-docs, or other roles with the world’s 40,000 universities and institutions of research and higher learning. This path can provide Ph.D. graduates with a great deal of freedom, creative outlet, job satisfaction, and job security.
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Ph.D. Jobs in Industry: Recently, more Ph.D. graduates are employed by technology and other corporations conducting applied research, developing and testing new digital products, or leading new companies. Ph.D.s in these settings may rise through the ranks to lead parts of the organization in R&D management or other roles.
- Ph.D. Jobs in Government: The importance of Data Science has not been lost on the many levels and branches of the government. To effectively administer a county, state or major metropolitan area, data is an essential source. This has been reflected by increased Data Science hiring and development in many government offices. As former New York City Mayor Michael Bloomberg said, "In God we trust. Everyone else bring data."