This blog is contributed by Burtch Works’ data science and analytics recruiting team.
It’s no secret that analytics-related fields have grown immensely over the past few years. More and more companies are hiring data scientists and analytics professionals each day, causing the demand for talent to explode. These developments have diversified the quantitative talent landscape.
One area where data scientists and predictive analytics professionals have more choice than ever is where they want to work. The booming field has expanded beyond its roots in tech hubs like the San Francisco Bay Area and New York and has spread all over the US. We’re seeing hotspot cities popping up as well as satellite offices, remote options, and relocation assistance all being utilized by companies hoping to expand their access to potential data science and analytics talent.
Hotspot Cities for Data Science & Analytics
While the Bay Area has always had a reputation of being the epicenter for quantitative talent, more and more cities are becoming destinations for data scientists and predictive analytics professionals. Leaders in all kinds of industries are realizing that they can capitalize on their data to gain a competitive advantage over their competitors and use these insights to better serve their customers.
As more and more industries use data in innovative ways, an increasing number of markets are becoming attractive locations for data scientists and predictive analytics professionals. Recently, we’ve been seeing a lot of activity in Denver, Boston, Atlanta, and cities across Texas including Austin and Dallas, and seemingly more hotspots are emerging up all the time.
We’re also seeing many established businesses across a wide range of industries looking to further expand their use of data rather than startups just getting into the market. Some industries we’ve seen increased activity in include healthcare, retail, industrial, and financial services, among others.
Satellite Offices Can Expand the Quantitative Team
As we mentioned in our 2019 Data Science & Analytics Market Trends, many companies based on the coasts are opening smaller satellite offices in other cities across the country to gain access to a wider range of talent. With the increased demand, organizations are doing what they can to expand their reach to a larger pool of talent by expanding their reach to additional markets.
Remote Options for Specialized Data Science Roles
In rare cases, remote work has become an option in the analytics space for locations where the talent pool might be too small to find the right employee locally for a position. In industries where the use of analytics is still growing, the talent pool may not be very deep at the local level, necessitating that companies expand their search.
This has especially proven true for roles that require a high degree of specialization. As a result, a company may open up the position to remote candidates with the hope of finding the right fit. These remote options are generally more common among senior level positions. However, many companies still want people to work onsite, particularly for positions that require frequent collaboration between team members and leadership.
Naturally, remote workers are also removed from much of a company’s senior leadership. This means that, in some cases, data scientists and analytics professionals working remotely may not have the same visibility to senior leadership as someone who is primarily in the main office. This is something that data scientists and analytics professionals should keep in mind when considering a remote role.
Address Relocation Concerns Early in the Hiring Process
Companies should understand that senior-level talent is often less likely to relocate than junior-level workers. This is due to the candidate possibly having existing responsibilities and commitments in the location where they live. Because of this, it’s important to understand a candidate’s relocation situation early on in the recruiting process.
Namely, companies should understand the following about a candidate:
- Know their ties to their current location. Do they have a partner/significant other that would need a new job if they move? Do they own their home? Are there any school obligations? Do their parents or other family members live near their current location?
- Understand the local housing market; some homeowners may not be able to sell their home quickly enough to relocate or may need to sell at a loss.
- What expenses will be associated with relocation? What kind of assistance is the company willing to offer, if any?
Although the data science and analytics fields have been generating a lot of interest recently, which has drawn more students and professionals to these careers, the demand for quantitative talent still outpaces the supply. Companies looking to hire, especially in specialized areas, are exercising a number of options in order to staff up their teams, and this is likely to continue for some time.
We hope this information was helpful! If you’re looking at opportunities in data science or analytics, or interested in adding to your quantitative staff, please feel free to reach out to us.
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Want highlights from our 2019 Data Science & Analytics report, including salaries, demographic comparisons, and hiring market analysis? Watch our 15-minute RECAP video below!