The world is experiencing a data explosion like none that has ever come before. With every passing day, we’re creating more data than we ever did, more data than we really know what to do with.
Check this out for size. According to Forbes, in the past two years alone, we have generated more data than was ever in existence in the whole of human history.
Every second, there are 40,000 search queries on Google. Tally that up for a year and you have more than $1.2 trillion searches annually! And every one of those searches yields up data that gets snared, catalogued and flipped unto the rapidly rising piles of dusty data lying around.
Every minute, 300 new hours of video gets uploaded onto YouTube. On Facebook alone, people share more than 100 terabytes of data every single day. Lost amongst that sea of data, users send 31 million messages and view 2.7 million videos every minute.
There’s no easy way to break this to you. We’re drowning in a sea of data that we don’t really know how we’re supposed to use. 99.5% of that data collected never gets analysed or used.
Who can do anything even remotely useful with all that data? You guessed that right: data scientists. And you wondered what all the brouhaha was about data science jobs in Lithuania.
The truth is, even if they only gave us an opportunity to finally do something useful with all the data we’ve been creating, data scientists would be worth their weight in gold.
But with the almost ridiculous level of insight they can afford us with that data, you can just begin to understand why there’s such a ruckus about these professionals.
There’s plenty to be excited about with data science jobs in Lithuania. Drawing from our employment app MeetFrank, we’ll share all the juicy stats and data we have on the market for these jobs in the first half of 2019.
Data science jobs in Lithuania: An overview
Data science is expected to change the world as we know it. Even the most conservative estimates believe that it will bring about a fundamental difference in how humans do things going forward.
But it is not expected to do this alone. The vast majority of what data science can do, mowing through impressive data sets and wringing valuable insights free, is only possible through AI. And that’s where most of the global attention is.
From all reports, including the “Artificial Intelligence is the Future of Growth” report by Accenture, AI will help boost productivity, double economic annual growth rates and increase country-wide effectiveness.
According to a simulation done by McKinsey & Co., this AI-powered advantage will deliver a combined value north of $13 trillion by 2030 alone. An international buffet of such epic proportions that every country and region is scrambling to be in position for their share.
In the banking industry, data science and AI will deliver an annual 18% increase in revenue. In retail, popular names such as Starbucks and Amazon have radically improved their earning capacity through the introduction of data-fuelled AI.
Even corporate entities are striving to be in position, on the back of reports that companies able to harness the power of data-fuelled AI can increase their operating margins by a whopping 60%.
In 2019, following the lead of its peers, Lithuania also published its Artificial Intelligence Strategy. The aim of the strategy? “To modernize and expand the current AI ecosystem in Lithuania and ensure that the nation is ready for a future with AI”.
In other words, if you had designs on data science jobs in Lithuania, that’s basically the equivalent of a lifetime job offer.
Who are employers looking to hire?
The current trend of offers for data science jobs in Lithuania have been in favour of mid-level data science professionals. They were the most in-demand candidates over the first half of 2019.
Offers for senior and junior talent were quite some way back in second, while the least offers were made to entry talent.
The data seems to indicate either that the market currently prioritises experience or that there have been fewer entry level candidates on the market. The second possibility might provide the better explanation since data scientists are in very high demand, whether experienced or not.
Several companies have been actively hiring for data science jobs in Lithuania. Amongst the most active, we curated the top five, which include Intrum Global Business Services, Filippo Loreti, Convious, Cognizant Technology Solutions Lithuania and Protingieji kurmiai UAB.
Top 5 in-demand skills for data science jobs in Lithuania
One of the most important reasons why there is such a plenitude of demand over supply of data science talent is the sheer difficulty of acquiring the necessary skills. There are only a few people who have the required skill set to become complete data science professionals.
And even for those who have the necessary skills, finding their pick of jobs can still be as difficult, since many roles rely on a large amount of domain knowledge. For instance, you cannot really be expected to pick out interesting data about heart health if you have no idea about the significance of the different arteries and what they do.
While this challenge is more pronounced in some industries over others, it can often be a pain. Regardless, there are certain skills that employers generally require for data science jobs in Lithuania.
First of the top five is competence in the SQL database, required in 12% of job offers during the first half of 2019. Data Engineering and Data Analysis were second and third, with 11% and 10 of all offers respectively.
Analytics and Python made up the rest of the top five, as they were only required in 9% and 7% of offers respectively.
To seize the earning opportunity provided by data science jobs and truly earn high, candidates must be uniquely skilled. MeetFrank data indicates that to earn more than €2,500 a month, talent must be competent in Systems Administration, Systems Operations and SQL.
How much can you look to earn?
Average minimum salaries for data science jobs in Lithuania were €1,475 over the first half of 2019. The average of maximum salaries was much higher, at €2,887. The highest salary during the period was €4,940.
Entry level candidates started their earning journey with an average salary of €1,733 per month. Juniors earned a bit more, taking home €1,891 a month while mid-level data science professionals earned €2,349.
Seniors pocketed €2,662 a month and lead professionals earned an average of €2,778 every month.
The highest monthly average, €3,700, was recorded in January while the lowest average was €1,350, recorded in March.
To really make sense of data science jobs in Lithuania, you need to look closer at the market. On MeetFrank, you can find all the insights you need to figure out what companies will be interested in hiring you and what terms they can offer. Download the app for Apple or Android today to get started.
Recruiters can also use MeetFrank to find the perfect candidates that tick all the right boxes. Schedule a demo call with us to see how MeetFrank can save your business time and money.