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Why your kids will want to be datascientistsJohn Phillips | J_Phillips_IVTuesday 3 Jun 2014 | 705 PM ET

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In the days of yore parents pushed their children to pursue noble lucrativeprofessions ndash doctor lawyer banker ndash but as times change they may soonencourage another career path data scientist

Big data is being billed as the next big thing ndash the key to gaining acompetitive advantage and increasing profitability for companies both bigand small The increasing importance of data analysis in decision makinghas boosted demand for employees with analytical skill sets popularizingcareer paths that lead to big data jobs

As the demand for employees with quantitative and analytical skillsincreases youre seeing more quants (data professionals) being placed inkey decisionshymaking roles said Linda Burtch founder and managingdirector of Burtch Works a USshybased executive recruitment agency forquantitative business professionals

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Theyre being hired to drive the core profitability of the business she toldCNBC

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Show me the money

It comes as no surprise then that big data pays well

According to Burtch Works 2014 study of salaries for data scientists shytypically those with university degrees in a quantitative field of study that arecomfortable with programming languages and statistical methods shy themedian salary for employees not working as part of a team was $80000 forthose with 0shy3 years experience and $150000 for those with 9 or moreyears experience

Read More rsaquo Forget big brother shy big sisters arrived

At the managerial level the median salaries were higher with thoseresponsible for a team of 1shy3 earning $140000 and those responsible for ateam of 10 or more earning $232500

By contrast the mean average annual income for a lawyer in America was$131990 in 2013 while doctors earned $183940 according to data fromthe US Bureau of Labor Statistics

A job seekers market

Employees with big data skillsets are in demand In a 2011 report McKinseyGlobal Institute estimated that by 2018 there will be 4 million big data relatedpositions in the US that require quantitative and analytical skills Howeverthere will be a potential shortfall of 15 million datashysavvy managers andanalysts to fill these positions it said

Linda Burtch also noted a shortfall in supply The most common complaintamong our clients is that there arent enough candidates

Read More rsaquo Big data the cloud they all mean bigger IT budgets

According to a Burtch Works flash survey conducted in the first quarter of2013 89 percent of respondents said they were contacted via LinkedIn atleast once a month with new job opportunities Twentyshyfive percent said theywere contacted weekly

Got what it takes

Typically data scientist roles are more advanced than other big data rolesand thus require more experience more advanced degrees and a computingbackground

According to the Burtch Works study 46 percent of data scientists havePhDs while 42 percent hold Masters degrees By area of studymathematicsstatistics computer science and engineering make up the topthree positions accounting for 32 19 and 16 percent respectively

However dont be fooled it takes more than just an advanced degree to landa highshypaying role

In addition to analytical skills companies focus on candidates that have astrong sense of curiosity business acumen and good communication skillsBurtch said

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10202014 Why your kids will want to be data scientists

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Read More rsaquo Why analyzing Big Data can be bad for business

Time to hit the books

So youre ready for a career change and want to be a data scientist Whilestudying to become a data scientist is no walk in the park finding a place todo so is becoming easier

More universities are offering analyticsshyfocused programs Some MBAprograms for instance offer analyticsshyrelated concentrations Burtch said

The University of Iowa for instance began offering a big data focusedundergraduate major called Business Analytics and Information Systems in2013

The program developed as a result of both the anticipated demand such asthat reflected in the 2011 McKinsey report on big data as well as ourconversations with local and national employers said Gautam Pantassociate professors of management sciences at the University of IowasTippie College of Business

Read More rsaquo What is big data

The program has been well received so far The enrollments have increasedby a factor of 60shy70 percent since we announced the business analytics trackin our major last year We have about 170 students in our Business Analyticsand Information Systems (BAIS) major at this time and we expect thatnumber to continue to rise for the next few years he said

University programs related to business analytics and business intelligencehave continued to increase At many schools these are offered as graduateand professional programs he added

John PhillipsDigital Editor

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39 Comments CNBC Login1

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BrendaWilesani bull 4 months ago

my buddys halfshysister makes $69 hour on the internet She has been laid off for six months but last month her payment was$17735just working on the internet for a few hours check my source Fiscalpos‐tCOM

1

bull Reply bull

Vacuum Density 10^113 joules bull 5 months ago

From reading the book Flash Boys I think it is evident that it is moreimportant to learn how to program like Russian mathematics andcomputer specialists

bull Reply bull

BooHootiehoo bull 5 months ago

Well if your kid is Chinese American kids are math morons

6

bull Reply bull

mediamen bull 5 months ago

For historians Most famous example of data mining Walmarts How tosell more beer Put it next to the diapers (Real example)

4

bull Reply bull

historyspeaks10 bull 5 months ago

not having kids is hereditary if your parents didnt have kids chances areyou wont either

i never had kids i loved my black labs just like my kids tho RIP Beth andKatie

bull Reply bull

aamericannovice bull 5 months agogt historyspeaks10

If your parents didnt have kids then you must have been cloned

5

david russell bull 5 months agogt aamericannovice

Favorite

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How RighteousnessKilled the WorldEconomy(The New York Times)

Prediction The Fed WillRaise Interest RatesSooner Than EveryoneThought(The Financialist)

Why shortshyterm thinkingis bad for business(The Huffington Post)

10202014 Why your kids will want to be data scientists

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bull Reply bull

david russell bull 5 months agogt aamericannovice

Creative answer I merely thought he was joking

bull Reply bull

aamericannovice bull 5 months ago

gt david russell

Poor thing with no kids Start saving for a earlystay at the nursing home with no kids to care foryou All the money you thought you were saving bynot having kids will go to pay for the $20000 amonth care home

1

bull Reply bull

david russell bull 5 months ago

gt aamericannovice

Im puzzled Are you being hostile to me If sowhy Have I said something to offend you

bull Reply bull

aamericannovice bull 5 months ago

gt david russell

Where have you been Every week CNBCpublishes an article about elder care costs

bull Reply bull

david russell bull 5 months ago

gt aamericannovice

This is of no help First of all I still dont get thehostility Second of all I have a child Third of all Ihave means to take care of myself

bull Reply bull

aamericannovice bull 5 months ago

gt david russell

Then consider yourself blessed Other readershere could benefit from this message

bull Reply bull

david russell bull 5 months ago

gt aamericannovice

I do consider myself blessed Best to you as well

bull Reply bull

aamericannovice bull 5 months ago

gt david russell

Still frightening that most of America is not savingfor retirement

bull Reply bull

david russell bull 5 months ago

gt aamericannovice

With 100 tax on savings interest (0 interestrates) its no surprise

bull Reply bull

Guest bull 5 months ago

Very hot area SAP Neilsen IBM and other companies are snapping upgraduates in Business Analytics and universities around the country aretrying to find qualified instructors in the area

4

THE_MICK bull 5 months ago

The article thinks kids are going to want to be data scientists where 46percent of data scientists have PhDs while 42 percent hold Masters

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10202014 Why your kids will want to be data scientists

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bull Reply bull

percent of data scientists have PhDs while 42 percent hold Masters degrees By area of study mathematicsstatistics computer scienceand engineering make up the top three positions accounting for 32 19 and 16 percent respectively

Considering the vast majority of kids who graduate from high schooldont have the math skills to enter those fields and the vast majority whodo have the skills dont want to work so hard Most of those who get intograduate school in science math engineering etc are NOT from richfamilies they are middle class kids getting by with teachingassistantships scholarships etc shy like I did in chemistry shy who see astable aboveshyaverageshyincome future if they work their butts off in college

2

bull Reply bull

mediamen bull 5 months ago

Dont kids It is boring Only go into this field if you can explain e=mc2

1

bull Reply bull

WILLIAMRAMSEY bull 5 months agogt mediamen

Just as the Lefties would like to keep you kids Ignorant andunable to think for yourselvesjust keep watching the boob tubeand let hollywood and the media tell you what to think

3

bull Reply bull

GTOWN bull 5 months agogt WILLIAMRAMSEY

The Red States are at the top of the list among the mostuneducated Your point

bull Reply bull

WILLIAMRAMSEY bull 4 months agogt GTOWN

Since you are obviously exceptionally obtuse andlikely brainwashed yourself by mainstream mediaand hollywoodI understand the red states are inthe south and their educational institutions are notup to elitist northerners expectations

And what the hell is your pt with red states Dothey control media outlets and Hollywood yescnn is in the southlove lefties wearing theiremotions on their sleeves

bull Reply bull

GTOWN bull 4 months agogt WILLIAMRAMSEY

Stick to the issue FAUX NEWS 47er Redstates=uneducated states= republican states =welfare states

bull Reply bull

WILLIAMRAMSEY bull 4 months agogt GTOWN

lolwhat a leftythrowing out cute rebuttals andattempting to belittle the intelligence of anyone thatdisagrees with himred states welfare stateshuhand I couldnt go anywhere with that withblue ehgeezzz your emotions obviously cloudany critical thinkingblame your parents takeyour ritilin and catch your bus in the morningforest

GTOWN bull 4 months agogt WILLIAMRAMSEY

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10202014 Why your kids will want to be data scientists

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bull Reply bull

Your writing style is definitely that of a FAUXNEWS 47er Thanks for providing a goodexample The FACTS I provided really struck anerve with you Let me know when you can givean INTELLIGENT answer on why the red statesare the most uneducated and receive the mostGUVMENT assistance despite the fact that theGOP supposedly has all the answers I wont holdmy breath

bull Reply bull

WILLIAMRAMSEY bull 4 months agogt GTOWN

loldo you wipe your drool your shouldersbefore you head out of the house

bull Reply bull

GTOWN bull 4 months agogt WILLIAMRAMSEY

Learn to answer questions with an intelligentresponse

bull Reply bull

GTOWN bull 4 months agogt WILLIAMRAMSEY

Do you ever THINK while watching FAUX NEWS

bull Reply bull

WILLIAMRAMSEY bull 4 months ago

see more

gt GTOWN

You must have some sort of schizophrenia withfox newsand why would you assume iwatchthe bigger problem here i believe is yourcomplete mental health and how your obsessionwith a tv station and reasonable people on theinternet simply confound you and you cannotcope It is obvious you have some sort of mentalcondition With your replies you paint a picture offox news keeping you up at night rocking backand forth huddled over a keyboard and throwingfeces at the monitorNow this is just how i seeyour responses

Ill admit I must be a little nuts to keep respondingto you however this does end here While it wasgreat arguing with a monkey and throwing chitaround it wears thin I honestly hope your newobama coverage takes care of you and your

bull Reply bull

mediamen bull 5 months agogt WILLIAMRAMSEY

I could also say Just like the Right wingers want you tobe stupid So they will be richer and richer (like the 1now) Not sure what politics has to do with this Ok hotfield now Strange that nobody talks about the dire future we are inSlowly going to big brother watching you shy tracking whenwe sleep with whom we sleep what we eat drink think

1

WILLIAMRAMSEY bull 4 months ago

gt mediamen

yes big brother only gets bigger with bigger

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10202014 Why your kids will want to be data scientists

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AROUND THE WEB

bull Reply bull

yes big brother only gets bigger with biggergovernment right and with whom championssuch a cause

bull Reply bull

Richmond2Wins bull 5 months ago

Please do not get in it kids It is very BORING

2

bull Reply bull

aamericannovice bull 5 months ago

After the recruits from India come to America This job will only have topay half the rate listed here

1

bull Reply bull

Hawkman bull 5 months ago

Kids Who can afford those

3

bull Reply bull

itellu3times bull 5 months ago

Very timely I was just spending the day trying to figure out wtf this datascience thang is all about

bull Reply bull

aamericannovice bull 5 months agogt itellu3times

Keeping track of the nations debt clock

1

bull Reply bull

TrbLMkr bull 5 months ago

Yeah you can tell by all the activity on this article how popular it will bewith the kiddies If they werent motivated into hard math and science byopportunity to make laser weapons or interstellar engines theopportunity to develop predictive models of walmart shoppers isnt goingto get them into it This will be about as popular as actuarial science Nooffense to my actuarial friends

8

bull Reply bull

gagz bull 5 months agogt TrbLMkr

straight up

bull Reply bull

Vincent Granville bull 5 months ago

Check out the Data Science Research Center created onwwwdatasciencecentralcom to identify new trends in data science andbig data analysis

2

bull Reply bull

David Frasier bull 5 months ago

In addition to the BAIS undergraduate degree the departmentschool islaunching a graduate certificate in analytics this fall at our Cedar Rapidssite and we anticipate adding a masters of science degree as of fall2015 Stay tuned

1

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