The Must-Have Skills You Need to Become a Data Scientist - Burtch Works
The Burtch Works Study - Data Science & Analytics ... · The Burtch Works Study Salaries of Data...
Transcript of The Burtch Works Study - Data Science & Analytics ... · The Burtch Works Study Salaries of Data...
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The Burtch Works StudySalaries of Data ScientistsMay 2018
@BurtchWorks #BWstudy
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Use of data science
continues to spread
to new areas
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Despite influx of professionals into
data science, more experienced
talent continues to be scarce
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Traditional analytics
and data science
continue to blend
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5th Annual Study
Compensation & demographic data
399 data scientists
Base salaries & bonuses
Job category
Industry & region
Residency status
Education & gender
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TodayDefining & identifying data scientists
Demographic profile
Salary changes & trends
Other noteworthy findings
Predictions for data science’s future
Live Q&A
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Defining & Identifying Data Scientists
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Data Science vs. Predictive Analytics
Predictive Analytics Professionals
Analyze data to glean insights
and prescribe action
Quantitative skills
Structured data
Data Scientists
Analyze data to glean insights
and prescribe action
Quantitative skills
Unstructured, streaming data
Computer science/coding
© 2018 Burtch Works LLC
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Most Data Scientists have advanced degreesMaster’s or Ph.D. in
Mathematics or Statistics
Computer Science
Engineering
Operations Research
Economics
Data Science
May have experience in non-traditional programs
Bootcamps
MOOCs
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Data Scientists use a variety of tools
Python
Scala
Hive
Pig
Hadoop
Spark
TensorFlow
AWS
D3.js
R
SQL
Java
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Data Scientists don’t includeSoftware Developers
Predictive Modelers
Data Engineers
Traditional MBA’s
Business Intelligence
Information Technology
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Profiles matched to job categories
Individual Contributors
Level 1: 1-3 years of experience
early career professional
Level 2: 4-8 years
hands on, more advanced
Level 3: 9+ years
analytics subject matter expert
Managers
Level 1: 1-3 direct reports
tactical manager
Level 2: 4-9 direct reports
leads a function
Level 3: 10+ direct reports
executive leader, sets strategy
© 2018 Burtch Works LLC
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Demographic Profile
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The data science field is young
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0-5 6-10 11-15 16-20 21-25 26+
Years of Experience
Data © 2018 Burtch Works LLC
Median: 6.0 years
Mean: 7.8 years
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Data Scientists are highly educated
Ph.D.
48%
Bachelor's
9%
Master's
43%
Data © 2018 Burtch Works LLC
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0%
10%
20%
30%
40%
50%
60%
70%
Bachelor's Master's Ph.D.
Da
ta S
cie
ntist
s
Pre
dic
tiv
e A
na
lytic
s P
ros
Among Data Scientists, a higher prevalence of PhD’s
Data © 2018 Burtch Works LLC
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0% 5% 10% 15% 20% 25% 30%
Economics
Social Science
Business
Engineering
Natural Science
Computer Science
Math/Statistics
Most study Math/Statistics, Computer Science, Natural Science
Data © 2018 Burtch Works LLC
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Many Data Scientists are foreign born
U.S. Citizen
62%
Other
1%
F-1/OPT
5%
H-1B
13%
Perm.
Resident
19%
Data © 2018 Burtch Works LLC
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Nearly half of early-career Data Scientists foreign born
0% 20% 40% 60% 80% 100%
IC-1
IC-2
IC-3
U.S. Citizen H-1B F-1/OPT
Perm. Res. Other
Data © 2018 Burtch Works LLC
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40%
10%
16%
8%
26%
West
Coast
Mountain
MidwestNortheast
Southeast
Most Data Scientists are on the coasts
Data © 2018 Burtch Works LLC
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Tech still employs the largest number of Data Scientists
0% 10% 20% 30% 40% 50%
Gaming
Government
Academia
Retail & CPG
Healthcare/Pharma
Consulting
Marketing Services
Corporate-Other
Financial Services
Technology
Data © 2018 Burtch Works LLC
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15% of Data Scientists
are women
Data © 2018 Burtch Works LLC
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10% of DS executive
leaders are women
22% of early-career DS
are women
Data © 2018 Burtch Works LLC
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Compensation of Data Scientists
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Data Scientist salaries are leveling off
Individual Contributors
$0 $50,000 $100,000 $150,000 $200,000 $250,000
IC-1
IC-2
IC-32018
2017
+5%
+2%
+0%
$165k
$129k
$95k
Data © 2018 Burtch Works LLC
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Data Scientist salaries are leveling off
Managers
$0 $50,000 $100,000 $150,000 $200,000 $250,000
MG-1
MG-2
MG-32018
2017
+0%
-3%
-3%
$185k
$145k
$250k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Individual Contributors
Level 2014 2015 2016 2017 2018
IC-1 $80k $91k $97k $95k $95k
IC-2 $120k $125k $125k $126k $129k
IC-3 $150k $150k $152k $157k $165k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Individual Contributors
Level 2014 2015 2016 2017 2018
IC-1 $80k $91k $97k $95k $95k
IC-2 $120k $125k $125k $126k $129k
IC-3 $150k $150k $152k $157k $165k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Individual Contributors
Level 2014 2015 2016 2017 2018
IC-1 $80k $91k $97k $95k $95k
IC-2 $120k $125k $125k $126k $129k
IC-3 $150k $150k $152k $157k $165k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Individual Contributors
Level 2014 2015 2016 2017 2018
IC-1 $80k $91k $97k $95k $95k
IC-2 $120k $125k $125k $126k $129k
IC-3 $150k $150k $152k $157k $165k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Managers
Level 2014 2015 2016 2017 2018
MG-1 $140k $141k $140k $149k $145k
MG-2 $183k $185k $190k $190k $185k
MG-3 $233k $250k $240k $250k $250k
Data © 2018 Burtch Works LLC
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5-Year Salary Trend: Managers
Level 2014 2015 2016 2017 2018
MG-1 $140k +0% +0% +6% -3%
MG-2 $183k +1% +3% +0% -3%
MG-3 $233k +7% -4% +4% +0%
Data © 2018 Burtch Works LLC
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Data Scientist salaries continue to exceed others in analytics
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
IC-1 IC-2 IC-3
Da
ta S
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nc
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Pre
dic
tiv
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lytic
s
+22%
+36%
+27%
Data © 2018 Burtch Works LLC
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Additional Findings
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$137K
West
Coast
Middle U.S.
Northeast
Coastal salary disparity beginning to close
Level 2 Individual Contributors
$120K
$133K
Data © 2018 Burtch Works LLC
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Salary disparity between
tech & other industries decreasing
Level 2 Individual ContributorData © 2018 Burtch Works LLC
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
2017 2018
Oth
er
Ind
ust
rie
s
Tec
h
+11% +4%
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$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
IC-3 MG-1 MG-2
Data © 2018 Burtch Works LLC
Management not required for high salaries
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Data scientists with PhDs outearn Master’s
Master’s, 64%
Master’s, 59%
Master’s, 48%
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
IC-1 IC-2 IC-3
Ma
ste
r’s
Ph
D
+10%
+8%
+10%
Data © 2018 Burtch Works LLC
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85.8% of quantitative teams planning
to hire in Q1/Q2 2018
Data science & analytics hiring intentions continue to be strong in 2018
Data © 2018 Burtch Works LLC
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77.0% of quantitative teams
expanding in Q1/Q2 2018
Data science & analytics hiring intentions continue to be strong in 2018
Data © 2018 Burtch Works LLC
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Recap/Demographicsof Data Scientists
48% hold PhD’s, 43% hold a Master’s
66% work/live on West Coast & Northeast
44% employed by tech companies
38% permanent resident or on a visa
15% female
72% have 10 or less years’ experience
Data © 2018 Burtch Works LLC
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Recap/Compensationof Data Scientists
Base salaries shifted only by single digit %
Data scientists outearn others in analytics
Highest salaries paid on the coasts
Tech data scientists earn more
PhD’s earn higher salaries
Data © 2018 Burtch Works LLC
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Additional data is available in
our full report
burtchworks.com/study
35+ pagesDemographics
Compensation
Year-Over-Year Trends
Qualitative Insights
Quartiles/Means
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Predictions
for the Future
of Data Science
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The Push for ROI Will Hound Both Legacy Firms & Startups
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Specialists Will Become the Norm, Not “Unicorns”
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The Hands-On Component Will Be Essential to Leadership
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Expect more changes as data science
continues to evolve and grow!
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Contingency &
Retained Services
Entry Data Science up to
Chief Data Scientist
Hiring Data Scientists?
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Download the full report:
www.burtchworks.com/study
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Visit burtchworks.com/blog for more insights:
• How SAS, R, or Python preferences vary in the
quantitative community
• How many data science & analytics teams are hiring
• Long-term career growth advice
• Developing trends in the data science space