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Salary/Income of Analytics/Data Mining/Data Science professionals
KDNugget's salary survey results have just been released. Salary are higher in 2013. But there were much fewer respondents (383) in 2013 than in 2012 (487). Why?
Graph 1: Analytics Salary/Income by Region and Employment type
excluding students and unemployed.
Not surprisingly, the income/salary was highest among self-employed, followed by data scientists working for a company, University/Academia, Government, and students - see table 1.
Table 1: 2013 Annual Income/Salary by Employment type
| Employment | 2013 Avg. Salary | 2012 Avg. Salary | % Change | 2013 Count | 2012 Count |
|---|---|---|---|---|---|
| Self-employed | 136.4 | 105.8 | 29.0% | 25 | 26 |
| Company | 111.3 | 101.6 | 9.5% | 284 | 375 |
| University/Academia | 89.6 | 63.2 | 41.9% | 42 | 49 |
| Government | 72.5 | 71.8 | 1.0% | 12 | 14 |
| Student | 33.4 | 34.1 | -2.0% | 19 | 17 |
| Unemployed/Retired | 20.0 | 48.3 | na | 1 | 6 |
| All | 105.2 | 94.1 | 11.9% | 383 | 487 |
For estimating average salary we used mid-point of the range, 20K for "< $30K" range, and $250K for "> $180" range.
Read details at http://www.kdnuggets.com/2013/02/salary-analytics-data-mining-data-...
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Comment
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Comment by Mirko Krivanek on March 2, 2013 at 11:55am -
Tips to increase hourly rates for consultants:
If you get paid by the hour, it's easy to boost your revenue: automate much of your job, so you work 5 times faster than a typical consultant for the same project. You bill the same number of hours, but with an hourly rate 50% lower than average. Yet you end up making 2.5 times more revenue than the average consultant because you work on 5 projects at the same time while she only works on one due to her internal inefficiencies.
If you can't automate, instead you could outsource 80% of the work to Romania. The end result is the same.
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Comment by Vincent Granville on March 1, 2013 at 11:51pm -
Why fewer respondents in 2013? is it because people stop calling themselves data miners, or because the data is right-censored because we are just at the beginning of 2013, and more respondents should participate in the coming months? Or maybe another reason, maybe the difference is not statistically significant?
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