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.
Follow Burtch Works on Twitter or LinkedIn to get the best quantitative career news and blog updates delivered right to your news feed, and check out our YouTube channel for access to all our latest salary information and webinars!
Want to learn more about data science and analytics career planning? Watch the webinar recording below to hear our recruiters’ best advice on interview preparation, tools and skills to learn, salaries, and more!