Jobs Postings and careers advice for younger Trads.
May 11, 2016 6:05:11 GMT -5
Voxxkowalski and Clotilde like this
Post by Greg on May 11, 2016 6:05:11 GMT -5
If you are 18-23 and want to get into an industry with at least 10-20 years of well paid future then consider data science, as it is applied to business. I've attended several conferences around the world and there's a lot of new investor money and growth and new sales being made weekly. The big banks and insurance companies are beginning to get their first successful projects and spending more on new ideas.
I study a lot of trends and this one smells of big money for a long time, more than anything else I have worked on since 1992. Nearly every business in the world, every government department and even every NFP org can find someway to apply this DS tech. With all that money sloshing around, salaries and consulting fees go up. If you're going to be a leech, then find a fat host with plenty of blood to feast on.
Its not even particularly complex compared to say actuarial work or derivatives trading. If you have good high school grades in maths, statistics or physics you can easily understand it.
Data science is otherwise known as "big data" and essentially involves collecting large amounts of structured and unstructured data and having computers analyse it to find patterns and correlations which have explicit or implied meaning. It can show a business what changes to make to improve profitability and it is an "arms race" type of technology. It can for example optimise pricing of tickets for an airline, or staffing numbers for an event or many, many other similar things which organisations need to run.
In my estimation this sector is going to be one of the better paid for the next decade and there will be a disproportionate number of consulting gigs, since the human experience of how to apply and understand the data and train the algorithms will be extremely difficult to package and commoditise. As you get "experience" your value and your pay will rise.
I study a lot of trends and this one smells of big money for a long time, more than anything else I have worked on since 1992. Nearly every business in the world, every government department and even every NFP org can find someway to apply this DS tech. With all that money sloshing around, salaries and consulting fees go up. If you're going to be a leech, then find a fat host with plenty of blood to feast on.
Its not even particularly complex compared to say actuarial work or derivatives trading. If you have good high school grades in maths, statistics or physics you can easily understand it.
Data science is otherwise known as "big data" and essentially involves collecting large amounts of structured and unstructured data and having computers analyse it to find patterns and correlations which have explicit or implied meaning. It can show a business what changes to make to improve profitability and it is an "arms race" type of technology. It can for example optimise pricing of tickets for an airline, or staffing numbers for an event or many, many other similar things which organisations need to run.
In my estimation this sector is going to be one of the better paid for the next decade and there will be a disproportionate number of consulting gigs, since the human experience of how to apply and understand the data and train the algorithms will be extremely difficult to package and commoditise. As you get "experience" your value and your pay will rise.