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Six Non-Monetary Perks Of Being A Data Scientist

Six Non-Monetary Perks Of Being A Data Scientist

Angshuman Banerjee
non monetary benefits of being data scientist

With companies creating tremendous amounts of data every day, it is no surprise that data science has become one of the leading career choices. In India, the popularity of data science careers has been growing exponentially thanks to the (sometimes extremely) lucrative packages offered by companies. 

According to several reports, the average base pay for a Data Scientist in India (as of October 2019) is approximately ₹10,19,000. If this isn’t enough for you, simply add the allowances and perquisites to this figure, and you are perhaps looking at packages upwards of ₹13,00,000 – ₹20,00,000 per annum.

Undoubtedly, a career in data science is one of the most financially sound decisions you can make. But aside from the monetary perks, what are the other benefits of being employed in this sector? Let’s find out.


  • Respect in social circles


As a Data Scientist, you are likely to command respect in your social circles. Data Scientists can directly influence business decision making across both managerial and strategic levels in organizations. Data Scientists are respected among Indian social circles for their intelligence and passion for their field. So, as a Data Scientist, you get to be the Sheldon Cooper of your group. Big Bang Theory, anyone?


  • Improved analytical skills


When it comes to skills and knowledge, psychology says, “use it or lose it.” When you take up an intellectually demanding job, you are forced to learn new skills and gain the requisite knowledge to handle it. However, if your occupation is relatively mechanical, your higher-level skills (to analyze, interpret, and evaluate) go unused, and you may soon struggle with them. Data Science as a career requires you to read, study, research, analyze, and interpret information regularly. An unintended benefit of this is that you will be always on your toes and hence will keep building your skills and knowledge.


  • Impactful responsibilities


One of the common complaints of a lot of Indian youngsters is that they do not find any meaning in their jobs. While this is a disappointing statement, it is a fact, nonetheless. A lot of jobs in the Indian economy are simply cog-in-the-wheel types that do not challenge the individual in any meaningful manner whatsoever. Commute to office, work to meet daily targets, leave for home. Repeat ad infinitum. As a Data Scientist, however, your decisions and work will help the company make the most crucial decisions about their business. This gives you a real sense of responsibility as you have the chance to make real impacts that touch not just organizations, but the lives of its employees, too.


  • Numerous transition opportunities


Data Science is one of those few careers that offer exceptional flexibility for middle-stage to late-stage transitions. After working as a Data Scientist for, say, 5-7 years, you can always jump ship to take up a managerial level opportunity in nearly any sector. Regardless of the company you are applying to, there is a good chance that your skills will be relevant to them. All companies produce data, so an individual who can make the most out of this collected information may undoubtedly be of value to them. However, if you enjoy Data Science, you can continue working in the field while switching every 1-2 years to higher-paid jobs. 

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  • Code your own applications


You cannot be a good Data Scientist unless you have sound knowledge of coding. However, this also means that when you can code and think like a programmer, you may create your own applications as well. For the entrepreneurial types among you who have always dreamt of founding their own startups, this could be an excellent way to proceed in that direction. You can combine your prior knowledge of Data Science and your coding proficiency to create an application that solves real-world problems. In fact, your startup could be the next big thing in the Indian economy, who knows? 


  • Smart camaraderie


Finally, humans are social animals. We prefer to surround ourselves with like-minded individuals with whom we can relate on at least a few grounds. As a Data Scientist, you are likely to meet amazing people who are as driven and passionate about their work as you are. Data Science, as a career, demands serious dedication. Therefore, you are much likely to work with smart and competitive individuals who can help you push your limits further and have a great time while you are at it.

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