Many students are interested in gaining a Data science master's degree. But is it worth it?

In the forthcoming years, demand for data analysts, data scientists, and data engineers will increase. That is why many students are interested in pursuing their career in data science by gaining a master's degree in data science. Now, there is one set of people who want to pursue higher education degrees due to their passion and interest. For these people, it makes sense to get enrolled in the relevant university courses and pursue their passion. On the other hand, there is another set of people, who want to obtain these degrees only to get a specific job title, a specific job role, or a position that gets them more money. For this set, university degrees are not the only option, many alternatives can also result in the same outcomes.

The most obvious example is in the field of Data Science and Analytics. In recent years, university degrees such as "Masters in Data Science" or "Masters in Analytics" are sought as one of the must-haves to enter this field. It is not astonishing that Data Scientist is one of the fastest-growing job titles across the globe and the demand for skilled data scientists is increasing. This has given the universities an option to attract students and make immense money. Several universities have started dedicated degree courses specialized in data science and analytics. Those who want to become a data scientist or to switch from another profession to a data science profession are now strongly considering these university degrees as the only pathway.

But these university courses are not easy to get in and affordable for everyone. These degrees don't come for free, tuition fees can be exorbitant and can range anything from US$30,000 to US$100,000. And that doesn't include the actual cost of living. Many consider applying for student loans but they add a huge lump sum to the existing mountain of debts. A common myth is that the earning potential for those with postgraduate qualifications is higher but of course, there is no guarantee that one will get a stable job at the end of it. Additionally, pursuing a university's higher degree takes anything from one to three years, depending on different factors. This can seem like a long time, especially when fellow peers are getting started on their careers, while one is still studying.

It's not that these programs don't provide good education. On the contrary, some of the best and most conscientious analytics professionals lead or teach in them. And the leaders of some programs put tremendous effort into helping graduates get good jobs. But students must invest a lot of time and money to participate, and in many cases, the returns are not going to be as great as they are expecting.

With the internet available, someone doesn't need a data science master's degree. The best part about the internet is that almost everything is available online. You can build a portfolio of the same quality if you have the motivation and discipline to study and finish meaningful projects on your own. You'll save a lot of money too. Additionally, if you're already working, then returning to school isn't easy. Going from financial stability to having no income can be a difficult transition. If you already work in a data-oriented role with a senior position, the experience alone is likely more valuable. You can do projects outside of work to make up for the technical skills that you think you're lacking.

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