2007 Salary Information

This year promises to be even more exciting for the quantitative professional. The career information most frequently sought by clients and candidates in the field revolves around salary and other forms of compensation. Whether you are planning to grow your staff this year or are assessing your own career path, here are some points to consider:

Hot Skill Set – Web analytics, pricing, credit analytics, analytically-based strategy.
Fast Moving Market – Candidates (especially at the more junior end) are receiving multiple offers and are going off the market in three to five weeks, much faster than the more typical eight to twelve weeks we’ve been used to seeing.
Relocation Challenges – Many companies are reassessing their relocation packages as the housing market continues to stagnate in many parts of the country. Unless these packages contain a safety net to cushion probable double mortgage payments, many candidates are not able to accept offers that require relocation.
Sign-on Bonuses – are back! In the last 90 days, nearly 40% of all offers have included a bonus as an incentive for candidates to “sign on”.
Cross Industry Job Changes – Candidates are changing industries far more frequently, even at the more senior level. Client companies are making offers to candidates coming from other industries as the talent pool tightens. This provides candidates with an ideal opportunity to expand their knowledge across industries.
Compensation – Many companies are offering more competitive packages to attract top talent. Here are some guidelines:

Vice President/Director $135,000 to $250,000 On the corporate side, this level typically involves managing a group – the bigger the group, the higher the salary. Oftentimes, the top salaries are offered by boutique consulting firms where business development may play a major role in the compensation package. Of course, ability to provide thoughtful leadership and strategic vision is essential at this echelon.

Manager $110,000 to $140,000
This position is often attained as the result of an internal promotion. Interpersonal skills are key – especially those demonstrating initiative, team building and the ability to direct group projects. While technical competence is important, remember that emerging executive-level administrative skills are what really count as you move up the business ladder.

Senior Statistician $80,000 to $120,000
Talented business statisticians with excellent communication skills can command base salaries of up to $120K. To move up from here typically involves picking up management responsibilities or business development skills.

Senior Analyst/Analyst $60,000 to $85,000
These are our most sought after candidates. With a master’s degree in a quantitative discipline and two solid years’ experience in the corporate world, this candidate will often receive multiple offers and be snapped up quickly. The market is red hot ­for candidates with this degree of experience – back to the level of the dot com boom.

Entry-level Masters $50,000 to $65,000
Demand continues to increase over 2006’s healthy level. Because companies are not always successful in hiring enough talent with one-to-two years’ experience, they will often choose an entry-level candidate with solid academic credentials. Hiring candidates who might require visa sponsorship has become commonplace; clients not willing to do this greatly reduce their pool of applicants.

As always, we welcome your comments and insights. Feel free to weigh in on the topics we’ve touched on here and to participate in an on-line salary discussion.

Let us know if Smith Hanley Associates can be of assistance to you in 2007!

Suggestions for a Successful Interview

Suggestions for a Successful Interview
Interview Preparation
* Find out specific facts about the company; products and services, current growth and future growth potential REVIEW THEIR WEBSITE;
* Review the job description; be prepared to discuss your academic work as it relates to the position.
* Create a list of questions beyond job content
* What types of people have done well?
* Is there career planning for top performers?
* What is management’s leadership type?
* Remember that an interview is a “two-way street”. Plan to assess the company: Will they provide the environment, culture and opportunity that fit’s your personality and career goal?
* Be prepared to answer questions like:
* Why accomplishments have you achieved in your current role?
* Why would you like to work for our company?
* What style of management gets the best from you?
* What have you learned from some of the jobs you have held?
* What are your major weaknesses and what are your strengths?
* What do you think determines a person’s progress in a company?
* What does “teamwork” mean to you?
* Make sure you are dressed professionally and well groomed.
* Have extra copies of your resume and have writing materials on hand for taking notes. Arrive Early (15 minutes)

Interview
Through the interaction, the interviewer will be assessing your strengths and weaknesses. Specific characteristics will be probed such as attitude, aptitude, stability, motivation and maturity.
* DO shake hands firmly (but not too hard) and make eye contact. Smile and say hello.
* DO make sure you know who you are speaking to, ask the interviewer their title or their job responsibilities. Ask for their business card.
* DO follow the interviewer’s leads, but try to obtain a full description of the position and duties expected early so that you can relay your appropriate background and skills.
* DO always conduct yourself as if you are determined to get the job you are discussing.
* DO make a personal connection with the interviewer when appropriate. Create a conversation or dialogue when possible
* DO be relaxed and natural. Speak clearly. Respond to questions honestly and directly. Ask the interviewer to repeat any questions you don’t understand.
* DO be confident. Give clear examples of how you have used your skills and experience to solve problems. Be able to discuss anything on our resume.
* DON’T answer questions with a simple “yes” or “no”.
* DON’T “over-answer” questions.
* DON’T ask about the salary or benefits, this is something your Smith Hanley representative handles for you.

Closing the Interview
Take notes during the interview. At the end of the interview, reiterate the main points of your discussion, your strengths, and your interest in the position. Make sure you understand what happens next in the interview process.