Australian data scientists have long been known for their talent for finding innovative solutions to data-driven problems.
But, in an industry where job security is increasingly important, it’s becoming increasingly difficult for new graduates to find good, secure jobs in Australia.
A new study from the McKinsey Global Institute, for example, finds that data scientists are facing an unprecedented number of job-seekers who do not have strong enough data literacy skills to get a job.
But they’re also having a tough time finding jobs that suit their abilities.
“The problem is, it is increasingly difficult to get into data science positions that will be in demand for the long term,” said Daniel Sperling, a co-author of the report.
“It is not uncommon for a new data scientist to have to work for a year or two in a data warehouse, before finding an appropriate position.”
And, as this article in The Australian has highlighted, even if they do find an ideal position, they may struggle to keep it.
According to the report, data scientists often struggle to maintain their positions even after graduating.
They may be looking for a permanent job, and often face a shortage of qualified data scientists.
That’s partly because the skills required to work in the data science field have been changing over the past decade.
Data science is now becoming increasingly more about machine learning and big data, said Sperting, who noted that there is a “great deal of excitement about these technologies.”
But that excitement is also driving job insecurity in the field.
According a McKinsey study, only a third of the top 20 jobs in data science in Australia are now filled by data scientists who have achieved the level of data literacy needed to work at a data center.
The McKinsey report also found that the rate of data science graduates being promoted to data science roles has increased in recent years, and that this is partly because employers are more willing to pay data scientists a premium.
“Data science is becoming increasingly a very important career,” said S, adding that, “There are many data science job vacancies, and it is a big market.”
The report says there are currently 2.3 million job vacancies in data analytics, with the median salary for data scientists in Australia currently $52,000, and the median pay for data analysts is $76,000.
In 2016, a new study found that nearly half of Australian universities were unable to recruit qualified data science students, with only 21 percent of universities able to find enough qualified applicants to fill a job vacancy.
“With the growth in the cost of data processing, it seems increasingly difficult,” said the report’s co-authors, James Ritchie, from McKinsey, and James Pinder, from the University of Western Sydney.
“In the meantime, graduates of data analytics are still being discouraged from entering the field and remain in the pipeline, especially if they are applying in a field that is already under-represented,” said Pinder.
“This is an issue that we are continuing to highlight in our research, and we have also begun to track job vacancies for data science jobs.”
The McKinys report also noted that a significant proportion of new data science graduate applicants have not even attempted to apply to a job in the sector.
And they’re not alone.
According the report that surveyed Australian universities, nearly half the respondents did not know that data science is a valuable skill for those looking to work as data analysts, with many saying they had “no idea” what they were looking for.
And the problem is compounded by the fact that the industry is increasingly becoming more competitive, as companies seek to compete on price, quality and innovation.
“For companies that need to hire more data scientists, the skills that we see are in need of an overhaul,” said Ritchie.
“So it’s a problem, and one that is continuing to get worse.
There are no quick fixes.
But this is something we are going to be looking at in the coming years.”
Data scientists are becoming more skilled in the face of data security concerns The McKinays report highlights a number of trends in the recruitment of data scientists that may be changing the landscape of the data scientist workforce.
According in part to McKinsey’s research, “The demand for data analytics and data science professionals has risen rapidly, with growth in employment across industries including health, healthcare, finance and information technology.”
And according to McKinseys research, the number of data scientist jobs in the UK and Australia has increased by 2.6 percent each year since 2013.
But the McKinseys report notes that while the demand for information technology jobs in both the UK as a whole and Australia is growing, the demand of data analyst jobs in these two countries is growing at a slower pace.
According McKinsey researchers, the growth of the number and diversity of data analysts in these industries is driven by the need to retain and train these highly skilled workers, and to “enhance the skills