Data Science Bubble is about to Burst...

Came across this article. Please share if someone has access https://the-ken.com/story/data-scientist-is-dead-long-live-data-science-how-indias-largest-analytics-companies-are-coping-with-genai/

People in tech are in over their heads. There’s been an unsustainable inflation in salaries and somehow 20 somethings have actually started believing their skills are worth what they’re making I speak to so many engineers who just with two years of experience are making 30-40 LPA packages. They actually believe they are better than people in say banking who make the same salary after 15 years of grinding it out. It’s all supply-demand. Supply will soon catch up to the demand. Salary normalization will happen. Your salaries may not grow for years if you don’t personally grow as well in skill set and become more valuable overall. At the least, don’t have an attitude about how much you make. Stay humble. Enjoy the good times while they are still here

Just curious about what others think here. From someone I met yesterday, they concluded that it might not be dying but it has gotten extremely competitive at entry levels. It might be dying for the extreme noobs probably because these noobs can find better jobs (money/effort) in Product Management or Founder's Office yada yada. Personally, it’s highly competitive now. I mean it was always easy to get in with a masters degree. Now it is hard to get in even with a PhD. True, people get hired without masters degrees but only a small fraction of them are doing really great work. Your skills to progress matter more than a piece of paper here. But Is data science still worth it in 2024?

Talking to my nephew nowadays seems like the AI bug has gotten to him. Even going back during the early parts of my own career and even undergrad, ML and stats was still a fledgling field. Most of the smart folks went into SDE roles at top tech. I still remember that even back then, hiring for roles like these were extremely theoretical. You would test even experienced candidates with undergrad topics which was slightly outdated tbh because most of the functions were abstracted away and it is obvious that you would not remember the matrix approach to finding weights for a simple linear regression model. Has this changed now? Because I don't think interviews like that actually evaluate the accumulated wisdom that experienced professionals bring to the table. I mean it is generally a waste of time for anyone to brush up manual derivations or remember SQL niche intricacies. Usually it is better to test for the 80% knowledge that is actually useful on a day to day basis. I mean if the main things that companies test in experienced candidates is something that can be rote-memorized from a book then they are not testing the right things no? What do you all think? Just wondering about this for some time now especially considering the hype around AI?

One of my friend got laid off and he started searching for all kinds of job. Even in such a rescission drowned market jobs for software developers is not less. But on contrast the data engineering market is just doomed and every 10 Dev job there is 1 data job. Thoughts ?????

AMA. How does a day to day pan out for a data scientist, Who is data science not really for, Does FOMO really affect my career in DS

What will be the future of a data engineer after these much recession/layoffs or arrival of AI

Currently in my 7th semester of engineering ( information technology). I'm really interested in starting a career in data science and could use some advice.I have a basic understanding of Python and pandas, some machine learning concepts, and we've covered basic SQL in our academic syllabus. I wanted to ask for guidance on how to begin my journey in data science. What's the scope of this field? Is it future-proof and not easily replaceable by other technologies?We don't have on-campus placements for data science roles, so I'm taking a risk by pursuing off-campus opportunities. What should my roadmap look like to land a fresher job with a package of 12 LPA or more? Are there specific resources like courses, books, or websites you would recommend to build my skills?