Mar 12, 2017Mar 12, 2017
Data Scientists or any scientist for that matter has this stigma of being a back-office/lab employee who does not see the light of day. This is true for the most part but now Data Scientists are taking home a pretty paycheck in the realm of seven figures.
Understandably not all firms can commit to such a high fee, but the other six figured salaries listed in this article is quite enticing.
Can anyone validate these numbers or is Bloomberg playing catch up to Business Insider on click baits again?
Reference:
Data Scientists Making Millions Vie With Fund Managers Over Pay
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Comments (20)
I really agree to your point.
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- wannabeconsultant999
- AM
- Rank: Gorilla
- 652
6y
wannabeconsultant999, what's your opinion? Comment below:
I never met a data scientist that made more than 200k unless they had the title "Chief Data Scientist". Also, most data scientists breaking 6 figures have PhDs.
Don't have to be a nerd to be a data scientist.The fact that you mentioned triple digit entry level salaries makes me think that Data Analyst is a broad term for a selection of jobs. Your AVERAGE jr/entry data analyst position depending on the company and your skills can run from 60-90k first year.
**How is my grammar? Drop me a note with any errors you see!**
- 1
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- Pescepescetarian
- RS
- Rank: Almost Human
- 7,683
3y
Pescepescetarian, what's your opinion? Comment below:
Data Scientist ≠ Data Analyst.Most of us data scientists would actually be offended
- 1
Roommate is a data scientist at a large tech company. He makes 200k+, and I know several others compensated pretty similarly. All have just UG degrees.
I studied data science/applied stat among other things. I never use it specifically but the influence it has had on me is invaluable. I'm a much better analyst because of it even if I never crack out the R.
Overwhelming grasp of the obvious.
It seems most people want R, but once I asked an MP from PwC if I should do SQL or R, he said SQL.I have touched both R and SQL, so I know they both serve very different purposes.
Why have you never had the need to "crack out the R?"
**How is my grammar? Drop me a note with any errors you see!**
PwC probably would need SQL for accounting software purposes but wtf do they know about finance..
Because I work at an l/s fund so there is no need to do complex statistical analysis. Obviously would be a different story if I worked at a quant shop.
What I didn't learn in UG was how to write macros in excel... Wow that would have been damn useful
Overwhelming grasp of the obvious.
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A) You pretty much need a Ph.D. You can get junior data engineering jobs with a Masters, but most people that are serious about the topic will go for a Ph.DB) Data Science is not for everyone.
The end results of applied data science is cool, but the theory is pretty boring stuff to work on. If you enjoy statistics, numerical analysis, etc. you'll probably have no problem grasping the topics.
Data Science has been the cool kid in tech the past 10 years, but it's def. one of those fields where you need very much technological knowledge. It's absolutely not to be confused with the general bootcamp mentality you see in programming.
And just like tech in general, the topics are moving on constantly, with new discoveries being done every week. So be prepared to read scientific / academic papers.
- 1
How much does the CIA pay?
**How is my grammar? Drop me a note with any errors you see!**
- 1
It's a GS job so you can find the pay tables online.
Once was trying to get with this girl who was a data scientist.
She had a MS. Worked from Home for a hospital and was an independent contractor for another. She said she made like 150k and only left her house like 2 days a week. other than that she was analyzing data sets at home
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- BatemanBatemanBateman
- AM
- Rank: Neanderthal
- 3,218
6y
BatemanBatemanBateman, what's your opinion? Comment below:
You could pay me in solid gold bars but that still sounds awful
Best Response
If you take the right classes and get the right internship experience, you can get fantastic data science/quant jobs with just an undergrad degree. A lot of people in my applied math program took the easiest electives in the major in order to maximize their GPA. All those people who went straight into the work force have boring data analyst jobs where they make 60-70k in the back office. I chose to take machine learning, stochastic processes, graph theory, numerical analysis, advanced algorithms, etc. and it massively paid off. I work along side several PhDs doing very similar work to them.
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- Pescepescetarian
- RS
- Rank: Almost Human
- 7,683
3y
Pescepescetarian, what's your opinion? Comment below:
I also have a similar experience. Glad to hear I'm not the only one.
Although I'm planning on going backt to school to get a PhD
For any job there is both positive and negative sides of which one must analyse whether the positive is dominating between the two. Only then the job is said to be satisfactory and worth to work.
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- Pescepescetarian
- RS
- Rank: Almost Human
- 7,683
3y
Pescepescetarian, what's your opinion? Comment below:
I'm a data scientist at financial services. Here's what I know.
Pay really depends on the field you're in. On high earning fields like financial services and money management, data scientist can earn a lot. I mean at most places they are called quant researchers. At places like DE Shaw or Citadel, you can start making 400K/year fresh out of undergrad. But this very rare.
Even outside the fields, expect 100-300K TC depending on experience, company, and title. This is the average range really.
7 figures is reachable for those with 5+ years of experience I believe. People do this in 3 ways.1) work in a highly profitable field with lots of bonuses. Buy side quanta again.2) have your own practice. If you have the right clients, then it's possible.3) Be a high up in a major tech company. Well realistically how many people get to do this...
Whatever happens, you have to pretty damn good at your job
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- iridescent007
- IB
- Mentor
- Rank: Almost Human
- 7,402
3y
iridescent007, what's your opinion? Comment below:
Buyside quant positions, within my knowledge, are pretty tough. Top MFE or Math PhDs, AFAIK
Persistency is Key
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- Pescepescetarian
- RS
- Rank: Almost Human
- 7,683
3y
Pescepescetarian, what's your opinion? Comment below:
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