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It’s no secret that the need for data experts is growing due to the exponential amount of data being generated every day. One of the best ways to gain the in-demand skills to be able to harness, analyze, and create value from data is pursuing a master’s degree. This ranking was last updated February 2024.
Data science is one of the fastest growing fields—job openings are expected to grow by 35% by 2023, according to the U.S. Bureau of Labor Statistics. And students graduating with a master’s in data science often land six figure salaries. The reason it’s a fast growing field, with high paying jobs, is because companies across all industries want data-savvy professionals in this era of digitization. Data provides companies and organizations with the resources they need to make better decisions—and in turn, they need professionals with data science skills who know how to understand and analyze data.
The GPA you’ll need to get accepted into a master’s program for data science varies by school. For all of the programs ranked by Fortune for 2024, the average undergraduate GPA for enrollees was 3.27. Students at Harvard and New York University had the highest GPA, with 3.87 and 3.75, respectively. Marquette University enrollees had the lowest reported GPA—at 3.01.
Master’s degree programs in data science can be offered in person, online or in a hybrid format—and that might be the difference in what the “best program” for you means. Fortune ranks the top five in-person programs for 2024 as: Harvard University, the University of North Texas, New York University, University of Michigan—Ann Arbor, and Carnegie Mellon University. Additionally, our ranking of the top five online programs in 2023 include: University of Southern California, UC—Berkeley, Bay Path University, New Jersey Institute of Technology, and Clemson University.
On average, it takes about one-and-a-half to two years to complete a master’s degree program in data science—with most programs requiring roughly anywhere from 25 to 60 credits to graduate. So it does depend on each individual program and whether you choose to be a full-time or part-time student. That said, thanks to a boost in salary and expanded career options, many students find it worthwhile to obtain a master’s degree in data science—and Gen Z considers the role of data scientist to be one of the most satisfying occupations.
A master’s degree in data science will teach you how to understand and analyze data. But because it’s a recently defined career path, how it’s applied can vary significantly. As Maurizio Porfiri, a New York University professor, told Fortune: “It’s a weird thing because it’s very vague. I discovered after a while that I had become a data scientist: people just started to refer to me as such.” But sometimes the first step to finding your place in the world of data science is picking a specialization—what type of problem you want to solve by using data. And a master’s degree can either help you find that specialization, or if you’ve already got the answer, will teach you the skills to pursue it.
Fortune compiled a list of seven universities that offer free online data science courses, which offers prospective students an opportunity to learn more about this field. Each university—Harvard University, the University of Michigan, UC Irvine, John Hopkins University, Columbia University, MIT, and Duke University—offers a different course, from linear regression to data science ethics to data science in real life. However, the common goal of these free courses is to give people an inside look into the field.
In 2022, data scientists earned median salaries of $103,500, according to the U.S. Bureau of Labor Statistics. But a degree from a top program might mean even more money; New York University’s (ranked third on Fortune’s best in-person data science programs) 2022-23 graduates with a master’s in data science earned an average salary of $143,000 four months after graduation, according to data provided by the university.