Is Data Science a Dying Career? Data Science Job Market in 2023

The big question we're addressing today is: Is data science a dying career? In this video, I'll discuss the state of today's job market, analyze whether data scientists are facing different challenges than other tech workers, and offer my observations after working with hundreds of data science professionals over the years.
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Contents of this video:
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00:00 Introduction
00:46 What I Do
01:01 Two Different Views
02:29 Which Perspective is Correct?
04:30 Average Salary
04:55 Data Science Job Supply
06:05 Tech Layoffs
08:57 Personal Experience

[@emma_ding]

If you prefer to read rather than watch this video, check out the blog post I wrote on this, and other, topics here ➡ www.emmading.com/blog/is-data-science-dying

[@Lets_dec0de_]

If you could provide any means to learn from you personally on Zoom or teams please kindly respond. I would like to learn from u. I'm a data science learner too

[@jeffnogo]

As someone at a midsize company that is looking to expand their data team. The main change in the market isn't the number of roles, but the expectations for these roles. Your opportunities will be much more limited today if you just have skills in basic ML modeling and a few skills in DL. It's not that these aren't valuable anymore, it's just that the current data scientists can more than handle the continuing demand for these skills with most companies. Many are now only looking to hire people with generative AI experience who can support the current data team and expand their impact with these new tools. Is a lot of this based on hype? Of course, but with any tech job, if you're not able to show you have a decent ability to handle and understand the "hot new thing", you're going to struggle to find a job.

[@dataflex4440]

Thankyou for the insights

[@travelgujarati8159]

Just do not spread misinformation. It will cost someones career or life. Data science is emerging field. We can solve many problems with data. Data science is not only for tech industry. It uses in healthcare, travel and many more. Just mind your own business and spread positiveness.

[@MyPyBiTE]

Hi Emma you produce great content. I am a millennial doing the career switch. I think my domain knowledge and over all background is better geared to Data analyst. What attributes do you recommend for someone that still enjoys python and Mysql and aims to be proficient but is aware the major challenge for folks in this area is competition with Software engineers?

[@naasehbihari5651]

Hi ma'am good to see you again with a positive response about data science. Ma'am I am not from a good University is it true that those who come from top universities are good and top tech companies hired him/her

[@mohsenshahriari4581]

Great video Emma. Thank you. What's your opinion about the effect of ChatGPT code interpreter on the evolution of data science? I've seen many posts on Twitter telling that Data Science is dead due to ChatGPT. I personally don't believe this and see it as an evolution to the field.

[@AllieZhao]

Meta's layoff mainly because the Executive was too optimistic in their company and industry, and bad decisions, so they overhired in the past three years.

[@MyPyBiTE]

META also a year earlier outlined their share buy back plan. Which required extra cash flow. It was the right move to lay off to meet the stock appreciation goal they had already outlined and convenient to blame the macro environment.

[@r0cketRacoon]

so is it relevant to the arrrival of AI such as CHAT GPT?

[@haohuang8174]

Thanks for the excellent content, Emma. I'm curious about the potential impact of AI technology on the demand for data science roles in the future: a company might have required three data scientists to handle the job, but now, with the assistance of Chat GPT, they might only need one.

[@rashmikasaha2874]

I was wondering, are these numbers and statistics based on the US only or all over the world? I was wondering if this is valid for South Asia as well or just USA

[@baomiTV]

Well, if a data scientist wants to have job security, one should know DBA, data pipeline, data modeling and business analytics, etc.

[@MujahidKhan-or3un]

Beauty with brain ❣️

[@football-uj4yg]

the first question we should answer is what is data science ?

[@tai94bn]

If you want to apply for a job, you should have a story to guide the recruiter why they need you. No industry will die if you find something you can improve in their business

[@emma_ding]

This is a great point! You definitely want to focus on how you can add value throughout the interview process. Thanks for sharing your perspective!

[@melissawang6151]

Hi Emma, is there a company list that are hiring DS? I cannot find it in the description

[@emma_ding]

Thanks for asking, Melissa! Here you go! www.emmading.com/companies-hiring-data-scientists

[@jonathan6353]

I am currently a Data Scientist within Finance and Banking. Data Science is definitely still an in-Demand and growing field. My opinion, is that Data Science roles are just becoming more specialized. As opposed to just being a general Data Scientist Long story short, domain/industry knowledge for Data Scientist is more important now more than ever. Limit the amount of Industry hopping you do

[@litlikelika]

thank you! much needed as im currently in grad school for data, applying for internships, and starting to feel a bit hopeless. this advice was great(:

[@haticek]

KZbin laid off 25% of their DS in Switzerland so it's not really a low risk. Also your Google US numbers also wrong, it's higher when you include product analyst ladder.

[@emma_ding]

Thanks for your feedback, Hati! I apologize for not emphasizing that the job market I'm referring to is the US job market. Additionally, you can refer to this website, www.warntracker.com/blog/meta-ds-less-affected-than-other-roles, where it states that even if we consider the broader category of "data scientist" and include titles like "Analyst" or "Data" in the search, we only find 120 employees who were laid off. This number is significantly lower compared to the at least 1200 software engineers that Google laid off in Q1. I hope this clarification helps!

[@haticek]

@@emma_ding Hey Emma, thank you for the source! DS and SWE numbers are not the same in Google so by just comparing 120 and 1200 wouldn't be fair comparison. It would be better to compare the percentages but I don't exactly know the total numbers by ladder. Still I don't think DS percentage is lower than SWE.

[@ramoguru90]

Every now and then you see software or data engineers making these kind of negative claims but they have no clue about the importance of making sense of data nor they can do it, even at the most basic level. Also all kind of tech people were laid off lately, not only data scientists

[@emma_ding]

Good point, Ramo!

[@stealthragnarr2644]

I am going to do master's in data science and you just demotivated that it is dying career. That's why YT should not be believed because it recommends videos of same kind again and again.

[@tommys4809]

It's not dying at all. The skills you will learn in a good DS program will set you up to solve any problem applicable in every business. Learn the math get the degree.

[@hello-pd7tc]

16 out of 2000 ds were laid off from Meta? that's a lie tho. I know at least 20 people got laid off. Most of them are more talented than the non-laid ones

[@travelgujarati8159]

So what will they do with data?

[@vips078]

Auto ml and chatgpt 😊