Is a masters degree in data analytics worth it?
Written by: Amanda Phagan, Edited by: Joey Morris
Published: January 10, 2025
The Bureau of Labor Statistics (BLS) projects that data science jobs will grow 34% from 2024 to 2034 — much faster than the average for all occupations. New bachelor's degree graduates and career-changers alike can pursue a master's in data analytics if they want to secure a job in this growing field.
What will you learn in an online master's in data analytics?
If you've ever wondered how data influences consumer behavior, market trends, or business decisions, an online master's in data analytics might be right for you. Earning a master's in data analytics typically takes between 15 months for full-time students and 36 months for part-time students. During that time, you'll learn how to build data sets, analyze key findings, and create impactful reports.
Some programs offer specialized tracks in marketing, healthcare, or finance. Whether you pursue data analysis, business analytics, or marketing, you can graduate equipped with the valuable skills and technologies you need to make informed decisions in an increasingly data-driven world.
Benefits of a master's degree in data analytics
A master's degree in analytics can boost your professional development in several ways. By earning this degree, you can expect to:
- Hone specialized skills: Learn machine learning, data visualization, cloud computing, marketing strategy, statistical analysis, and more.
- Learn the tools of the trade: Familiarize yourself with key technologies like Tableau, AWS, and Snowflake. Learn coding languages like Python, SQL, and R.
- Enjoy higher pay: According to the BLS, data scientists earned an annual median salary of $112,590 ($63,090 higher than the national median salary) in 2024. The top 10% of data scientists earned more than $194,410.
- Discover more job opportunities: A master's in data analytics can lead to many careers, including in business administration, digital marketing, finance, and more.
How much does a master's degree in data analytics cost?
The total cost of a master's degree in data analytics depends on several factors, including your location, school, program, and financial aid eligibility. According to the National Center for Education Statistics, the median annual cost of tuition and fees for a master's degree in mathematics and statistics is $12,510. Some of the top online master's in data analytics programs cost between $24,000 and $52,275 per year, depending on factors like whether a student enrolls full or part time.
Before selecting a data analytics master's program, consider the overall cost, including expenses not covered by tuition (such as application fees, textbooks, and transportation), scholarship options, and credits associated with the program.
Are graduates of a master's degree program in data analytics in demand?
As more companies rely on digital-first methodologies globally, data plays a more critical role than ever before. The BLS projects about 23,400 new data scientist job openings yearly between 2024 and 2034, which is good news for data analytics degree-seekers.
Since nearly every industry relies on data, you can apply a master's degree in data analytics in many ways. Depending on your coursework and specialization, you may eventually find yourself compiling consumer reports, leading a data science team, advising on Wall Street, or showcasing the importance of data in the C-suite.
Is a master's degree in data analytics right for me?
If you are passionate about organizing and making sense of qualitative and quantitative data, earning a master's degree in data analytics could be a lucrative next step in your career. Most companies value the skills and technologies taught in data analytics programs — and reward graduates' time and effort accordingly.
However, advancing your education can be expensive, and prospective students might wonder if a master's in data analytics is worth the cost. A master's in data analytics is a significant investment, but earning this degree can lead to professional growth as the world becomes increasingly digital and data-centric.
Whether a data analytics program is right for you depends on your personal goals, values, and career aspirations. If you're looking for a career that's both profitable and relevant to many industries (or simply want to level up your data science skills), a master's in data analytics could be a wise choice.