Share with your friends










Submit

Analytics Magazine

News & Notes: Salary survey, O.R. degree, CAP updates

Salary survey: predictive analytics professionals

Gender pay gap among predictive analytics professionals is next to nil. Photo Courtesy of 123rf.com | zozoen

Gender pay gap among predictive analytics professionals is next to nil. Photo Courtesy of 123rf.com | zozoen

The gender pay gap among predictive analytics professionals is practically nonexistent, and the percentage of U.S. citizens in the profession at the junior level is increasing while the percentage of foreign-born professionals at the same level is decreasing as more U.S. students are entering the market. Those are two of the more notable trends in a new Burtch Works salary survey of predictive analytics professionals (PAPs).

According to the 2016 survey data, women earn the same or slightly higher base salaries than men in two of the six job categories studied, and receive 95+ percent of their male counterparts’ salaries over all six categories.

The study gathered compensation and demographic data from 1,216 PAPs representing more than 650 companies nationwide. For the purpose of the study, a PAP was defined as those who can “apply sophisticated quantitative skills to data describing transactions, interactions or other behaviors of people to derive insights and prescribe actions. PAPs are distinguished from business intelligence professionals or financial analysts by the enormous quantity of data with which they work, well beyond what can be managed in Excel. However, this definition also encompasses data scientists, who are excluded from this study because of their distinguishing ability to work with unstructured data, resulting in different compensation.”

PAPs’ median base salaries range from $75,000 for Level 1 individual contributors to $225,000 for Level 3 managers. Nearly three-quarters of all PAPs are eligible for bonus pay, which can substantially increase their income. Education, experience, skill set, industry and region all impact compensation. For example, at almost all job levels, PAPs employed on the West Coast and in the Northeast earn the highest salaries.

Founded by Linda Burtch, Burtch Works Executive Recruiting is a leading resource for highly qualified analytic and marketing research talent in the United States.

To download a free copy of the complete Burtch Works Study, “Salaries of Predictive Analytics Professionals,” click here.

Forbes survey: master’s degree in O.R. pays off

Individuals with a master’s degree in operations research rank third highest in terms of mid-career salaries, according to a recent survey by Forbes. The findings, part of Forbes’ 2016-2017 College Salary Report, combed data for nearly 200 graduate-level degrees and ranked them according to the mid-career salaries of full-time U.S. employees who hold specific degrees.

Individuals with a master’s degree in operations research rank third highest in terms of mid-career salaries, according to Forbes. Photo Courtesy of 123rf.com | dotshock

Individuals with a master’s degree in operations research rank third highest in terms of mid-career salaries, according to Forbes. Photo Courtesy of 123rf.com | dotshock

Mid-career operations researchers with master’s degrees average $129,000 in annual salary, according to the survey, just below those with master’s degrees in nurse anesthesia ($156,000) and computer science and engineering ($134,000) and just ahead of those with master’s degrees in electrical and electronics engineering and taxation. MBAs were omitted from the survey.

As expected, those with master’s degrees in STEM disciplines dominated the top of the list, with chemical engineering, biomedical engineering, industrial engineering and applied mathematics all finishing in the top 10 with mid-career wages between $115,000 and $121,000.

For more information, click here.

‘Guide to the Analytics Body of Knowledge’

The INFORMS “Guide to the Analytics Body of Knowledge” (ABOK) is nearing a first draft. Along with a study guide for those seeking Certified Analytics Professional (CAP®) status, ABOK can also be used by instructors to help with curriculum development, by HR managers to determine what the employees need to know, by regulators to understand the state of analytics practice, by employers to provide a career path for employees and by newcomers to analytics to understand more about the field.

A proposed table of contents includes chapters on “Introduction to Analytics,” “Getting Started with Analytics,” “The Analytics Team,” “The Data,” “Solution Methodology,” “Model Building” and “Deployment and Lifecycle Management.”

ABOK Committee Chair Terry Harrison (Penn State University) and Editor in Chief James Cochran (University of Alabama) will lead a session on ABOK on Nov. 15 in Nashville as part of the 2016 INFORMS Annual Meeting. Conference attendees are invited to join the ABOK discussion session.

Williams to lead 2017 Analytics Certification Board

Jim Williams 2015 President INFORMS

Jim Williams

Jim Williams, CAP, of FICO (photo) and Aaron Burciaga, CAP, of Accenture Analytics, have been elected chair and vice chair, respectively, of the 2017 Analytics Certification Board (ACB). The ACB, whose members are elected by INFORMS and CAP® designees, meets on a quarterly basis to provide oversight and guidance to the Certified Analytics Professional (CAP) and the Associate Certified Analytics Professional (aCAP) programs.

Randy Bartlett, CAP, Blue Sigma Analytics; Russell Barton, CAP, Penn State University; Tom Davenport, Babson College; Bill Franks, Teradata; Jeanne Harris, Columbia University of New York; Stefan Karisch, Boeing; Lisa Kart, CAP, Gartner; Jack Levis, UPS; Polly Mitchell-Guthrie, SAS; Jonathan Owen, CAP, GM; Michael Rappa, NCSU/Institute for Advanced Analytics; Greta Roberts, Talent Analytics; Nick Wzientek, CAP, Vistar; and Melissa Moore, INFORMS executive director, complete the board.

Karisch (2017 president of the Analytics Society) and Barton (2017 INFORMS VP for Sections and Societies) will serve as ex-officio members.

For information, click here.

Related Posts

  • 79
    Eric Siegel, founder of Predictive Analytics World (PAW, a series of conferences held throughout the year in major U.S. and European cites) and the author of the new book, “Predictive Analytics: The Power to Predict who will Click, Buy, Lie or Die,” is without question a key player in the…
    Tags: analytics, predictive, data
  • 74
    The CUNY School of Professional Studies is offering a new online master of science degree in data analytics. The program prepares its graduates for high-demand and fast-growing careers as data analysts, data specialists, business intelligence analysts, information analysts and data engineers in such fields as business, operations, marketing, social media,…
    Tags: data, analytics
  • 68
    Benjamin Franklin offered this sage advice in the 18th century, but he left one key question unanswered: How? How do you successfully drive a business? More specifically, how do you develop the business strategy drivers that incite a business to grow and thrive? The 21st-century solution has proven to be…
    Tags: data, analytics
  • 67
    July/August 2018 Why optimization models fail AI: Path to an intelligent enterprise How to truly listen to customers Close the deal: marketing & targeting Bridging the data science gap The amazing analytics journey 2018 Forecasting Software Survey May/June 2018 The direction of smart automation Turbocharging AI and ML projects Real-time…
    Tags: analytics, data
  • 64
    Most business leaders today believe in the value of using data and analytics (D&A) throughout their organizations, but say they lack confidence in their ability to measure the effectiveness and impact of D&A, and mistrust the analytics used to help drive decision-making, according to a new survey from KPMG International.
    Tags: analytics, data, survey


Headlines

Former INFORMS President Cook named to U.S. Census committee

Tom Cook, a former president of INFORMS, a founding partner of Decision Analytics International and a member of the National Academy of Engineering, was recently named one of five new members of the U.S. Census Bureau’s Census Scientific Advisory Committee (CSAC). The committee meets twice a year to address policy, research and technical issues relating to a full range of Census Bureau programs and activities, including census tests, policies and operations. The CSAC will meet for its fall 2018 meeting at Census Bureau headquarters in Suitland, Md., Sept. 13-14. Read more →

Gartner identifies six barriers to becoming a digital business

As organizations continue to embrace digital transformation, they are finding that digital business is not as simple as buying the latest technology – it requires significant changes to culture and systems. A recent Gartner, Inc. survey found that only a small number of organizations have been able to successfully scale their digital initiatives beyond the experimentation and piloting stages. “The reality is that digital business demands different skills, working practices, organizational models and even cultures,” says Marcus Blosch, research vice president at Gartner. Read more →

Innovation and speculation drive stock market bubble activity

A group of data scientists conducted an in-depth analysis of major innovations and stock market bubbles from 1825 through 2000 and came away with novel takeaways of their own as they found some very distinctive patterns in the occurrence of bubbles over 175 years. The study authors detected bubbles in approximately 73 percent of the innovations they studied, revealing the close relationship between innovation and stock market bubbles. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

INFORMS Annual Meeting
Nov. 4-7, 2018, Phoenix

Winter Simulation Conference
Dec. 9-12, 2018, Gothenburg, Sweden

OTHER EVENTS

Applied AI & Machine Learning | Comprehensive
Sept. 10-13, 17-20 and 24-25


Advancing the Analytics-Driven Organization
Sept. 17-20, 12-5 p.m. LIVE Online


The Analytics Clinic: Ensemble Models: Worth the Gains?
Sept. 20, 11 a.m.-12:30 p.m.


Predictive Analytics: Failure to Launch Webinar
Oct. 3, 11 a.m.


Advancing the Analytics-Driven Organization
Oct. 1-4, 12 p.m.-5 p.m.


Applied AI & Machine Learning | Comprehensive
Oct. 15-19, Washington, D.C.


Making Data Science Pay
Oct. 29 -30, 12 p.m.-5 p.m.


CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.