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Recession an Analytics Job Market
Replies to This Discussion
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Permalink Reply by Vincent Granville on -
See also our poll on who's hiring?. This dates back to September, and things have changed.
Since early November, I see more companies (startups in particular) hiring senior employees, e.g. VP of Analytics. I've been contacted pretty much every day, while October was much quieter. I also see an increase in the number of resumes that we receive, and the financial sector will continue to lay off analytic talent at a steady pace over the next six months (see Morgan & Stanley today). I believe finding traditional jobs (data analyst with a large company) will be more difficult, particularly if you narrow your search to large, general job boards.
Fraud detection, statistical litigation, ROI optimization, risk management -- these fields will show growth, but candidates with no successful stories to tell during an interview will be at a disadvantage (except, to some extent, for entry-level jobs). Healthcare and travel may not be doing too bad, particularly health care with and aging population. Renewable energies should generate a few new jobs.
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Permalink Reply by Amy on -
Many of the job losses will be in automotive (mostly overpaid employees making vehicules that nobody wants anymore), and retail (mostly low pay employees). I can see people cutting on babysitters, cleaning services, gardeners, accountants, advertising, sales, private tuition, pest control services, law services for very small businesses, restaurants -- mostly cutting on things that everyone can either do themselves, or do without.
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Permalink Reply by Navin Sinha on -
wonder what a difference a month or a little over it does... I just used "Analytics" as a key word and saw more than 29,000 positions listed on indeed.com. I guess the strength of an area can be measured by how many consulting opportunities are there. About 1700 such opportunities are mentioned in US. But then, you have to have demonstrated ability to save $ and wear multiple hats. It appears to be a better situation now than say, july. Yes, Retail is hurting- bad. Here in Minneapolis, Best Buy has offered "Buy Backs" from 4000 employees in their corporate office.
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Permalink Reply by Chandrasekhara S. Ganti on -
I concur with most of your observations. As long as the positions are client facing and people interaction is needed in the US, the analytics market is all right. I believe you need at least two technical strengths / Stats / OR / BI and extensive programming experience or at least the ability to lead such talented people. The good jobs are there though much is expected as was stated in the previous replies.
As has been observed by many and with the new Admin, with regulatory overtones related to the financial industry oversights, there could be many jobs with in the Govt. for the right talent.
While it applies mostly to US citizens, there are jobs posted on USA Jobs site.
US Govt (all its Agencies) has distinct Category of positions: Mathematical Statisticians and Operations Researchers. These two allied disciplines are recognized separately and are posted on the site. www.usajobs.com
A note on Govt jobs from my experience. It is very slow for consideration, replies and any communication from the Govt. agencies. I have a few positions going back to October 2008.
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Permalink Reply by Andy on
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A market solution is based on the belief that escalating oil prices due to scarcity of this will stimulate investment in technologies that replace the use of fuel, make more efficient extraction of oil and increase productivity. The economic challenge in an environment of depleted resources of the old is that research into alternative energy of fossil fuels needed for its realization. Critics argue that the paucity of this research will fuel more expensive, increasing the cost of developing new technologies to the same extent.
Juices Drinks
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Permalink Reply by Lady on
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Economic crisis of 2008 and 2009 is known to the perception of global economic crisis that began that year, sources in the United States. Among the main factors behind the crisis are the high prices of raw materials, product sobrevalorización, a world food crisis, high inflation and the global threat of a worldwide recession and a credit crisis, mortgage and confidence in the markets.
Many authors believe that this is not a real crisis, but rather an opportunity to grow and have new ideas as the term crisis lacks precise technical definition, but is linked to a deep recession and this, in turn, defined as two consecutive quarters of economic decline. [1] At the moment, this phenomenon has not occurred in most developed economies. According to some sources, the crisis would end in 2010
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Permalink Reply by Matthew Michael Komos on -
From my experience, there is definitely a demand for analytic professionals - I think there are a few keys to be successful:
1. Don't be afraid to think creatively when going for a job - analytic professionals can be very talented and our discipline can be applied in many places - so, if you've only worked as a risk analyst for a credit card issuer for the last 10 years, it doesn't mean you couldn't go into the analytics side of advertising, or collections, etc. - if you have the experience and confidence (not cockiness!), you can walk into most places and "create" your own job and show them why they need what you have to offer
2. From what I've heard in the job market right now, don't come across as desperate or bitter about being laid off - those are some common themes I have been reading about in a few different articles - be confident without being cocky, and most of all - be honest!! I have done screening for mid-level analysts coming up, and the in-person interview was a disaster because their true skill set was misrepresented in their resume. Just remember - the person that is interviewing you typically is in a higher level analytic role and more than likely have done the things you are trying to sell them on - so you won't be able to really "get one past" someone with any level of experience.
3. Try to get as broad of an experience as possible in any of your jobs - if you are working at a bank in an analytic role, take the time to understand the operations side (even if you aren't allowed to solve the optimization problem that almost always exists!!) of the business, how loans are processed, etc. I know that when I am interviewing potential candidates, it is really important to me that there is a good balance of strong technical skills and business knowledge - you might come up with the best analytic solution ever developed, but if it can't be implemented or doesn't have a good impact to the business, who cares!! Good practitioner experience is a very important quality to have as you might find yourself having to find a job - so don't just focus on all of your technical skills but also how you understand the industry that you come from, the last company you were at, etc.
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Permalink Reply by vinay kulkarni on -
hi mathew,
Your post is very useful and gives lot of ideas about interviews....Thanks
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Permalink Reply by Sandra Jasper on
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It's not just a recession on the job market it is a recession in the whole economy. We are far away of being back up where we were before the crises, but times are already getting better.
I'm really positive when I look in the future, and I think this recession had to come to get us back in reality and way of this crazy fictive finance world.
I'm currently looking for an executive job myself and i really hope that i will get the position i am looking for.
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Permalink Reply by Chandrasekhara S. Ganti on
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Yes, I find it very hard especially for the Senior positions. I have been out for a while. Both Govt and private sectors are slow to hire.. still very reluctant to hire permanent positions. And of course when you have 1 to 10 ratio for applications for a postion, it is not difficult to understand. Every body is interested in ROI (Ruin of Innovation - a circastic expansion for the acronym back in mid 1970s when we were just starting our professional careers).
Things seem to be some what turning around. Let us hope, the analytics in general will pick up. I agree that there are many analytic postions but it is geogrphic / industry / speiciality specific. The US Govt is a very good employer of Quantittive Professionals. But as I had indicated in my previous response in January, I am still waiting for them since almost a year. Pre -baby boomer generation are retiring so there are many positions opening up.
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Permalink Reply by JaakP on -
Having left the public sector, the retirement age for many employees is dubious. Many of the generation that I worked with that were thinking of retiring have spouses who were laid off, delaying the retirement time. As well, since knowledge transfer can be a bit of a challenge, many will come back as consultants.
As for the hiring process, the government does take a while. Even for those interviewed, it can take up to3-6 months to hear back that an offer is made.
Cheers.
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