Earlier this month I took a look at what kind of salary increases quantitative workers could expect at different points in their
careers. While this is helpful information for seasoned workers and certainly
interesting for entry-level candidates to keep in mind as they look at the market
value of careers in Big Data, I wanted to take a closer look at salary and
bonuses specifically for analytic professionals coming out of school.
Based on a sample of almost one hundred recent graduates, I
found that the average base salary for entry-level candidates was $63k. Candidates
with PhDs saw higher salaries averaging around $73k, and the average for those
with a Bachelor’s degree was $52k. Most of our respondents held a Master’s
degree and these candidates were making around $63k in their roles with no
prior work experience.
Most of the candidates in this sample (61%) were also
eligible for an annual performance bonus, however those entering the work force
right out of their Bachelor’s program should
not necessarily expect one, as less than a quarter of these candidates
were bonus eligible. These bonuses also varied
quite a bit from 3-20%.
It is interesting to note that most entry-level candidates
do not receive a sign-on bonus. This is sometimes common with more senior level
workers, but as I expected, only 17% of all the candidates reported receiving a
sign-on. For those who did receive one, the average was almost $5,000.
An education with a quantitative focus continues to give
students strong job prospects as Big Data careers promise to stay in-demand.
The level of degree attained is something to keep in mind for entry-level
candidates who are unsure of what salary to expect in their first position.
While further in one’s career experience may eventually trump educational
background, having a solid foundation and at least a Master’s degree sets you
on a path to success.
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