Wednesday, October 22, 2008
Statistical Analyst
Consulting company in Ohio is looking for a statistical analyst to provide customer insights for their clients by building predictive models and producing high level statistical analysis. At least 3 years of analysis required in a business setting using SAS to manipulate large data sets. Ability to determine business problems and clearly communicate results. PhD or MS in a quantitative field required. This fast paced work environment will afford you the opportunity to work on multiple projects. Salary between $60-85k. If interested in this opportunity, send your resume to ndarian@smithhanley.com. Reference 3026845
4Q 2008 job trends in marketing analytics
First of all, let me assert my firm belief that the only thing we have to fear is fear itself - nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. — Franklin D. Roosevelt
Many people assume that this famous quote from Roosevelt was about World War II. In fact, it was part of his first inaugural address in 1933 and was specifically meant to ease the country’s fears about the worsening economy. Since my last blog entry on the state of the job market for the quantitative business professional in July, there have been dramatic changes in the economic and business climate. It is rare these days that I have a conversation without being asked for my take on how these changes are affecting the current job market and the near-term prospects for job seekers in our industry.
Not surprisingly, the drumbeat of negative news about the economy resulting from the meltdown of the financial markets has many people on edge about the stability of their companies and the security of their jobs. At Smith Hanley, we have been paying close attention to every aspect of the current crisis — what I see happening in the quantitative job market is surprising, and should offer my audience relief and even confidence.
We are still seeing a healthy amount of hiring and new job openings. Last year was a record revenue year for the quantitative recruiting groups at Smith Hanley; and this year, even if we have a weaker fourth quarter, we will surpass last year’s numbers. Certainly, the overall unemployment rate has climbed rapidly from 5% this summer to a current rate of 6.1%; the weekly jobless reports are also grimmer, with the number of jobs lost in September nearing 150,000. In the panic of the moment, however, it is important to note that the unemployment rate for college educated professionals is still at very low 2.5% and I strongly believe that for analytics professionals, that number is lower still.
While it’s true that this recession is having a negative impact on employment in most disciplines, professionals with backgrounds in data analytics (including statisticians, econometricians, operations researchers, and mathematicians) are continuing to enjoy job security and employment opportunities. Albert Einstein once said: “Try not to become a man of success, but rather to become a man of value.” In uncertain economic times, the best advice we can give the men and women in our field to keep their jobs secure is to work hard and demonstrate to their employers the value they bring to table. As quantitative professionals, they are uniquely qualified to sift through the mountains of business data necessary to help management develop effective streamlining strategies, a vital tool in this economy. In this case, it is nice to be considered to be among “America’s most wanted”.
These are interesting times. In a news cycle full of gloom and doom, I am pleased to report that employment in analytics remains robust, and with no substantial layoffs or hiring freezes in sight. But in this volatile environment, things could be different next week – so stay in touch with your recruiter at Smith Hanley for the latest updates on the analytical employment market.
Linda Burtch
Managing Partner – Smith Hanley Associates
Many people assume that this famous quote from Roosevelt was about World War II. In fact, it was part of his first inaugural address in 1933 and was specifically meant to ease the country’s fears about the worsening economy. Since my last blog entry on the state of the job market for the quantitative business professional in July, there have been dramatic changes in the economic and business climate. It is rare these days that I have a conversation without being asked for my take on how these changes are affecting the current job market and the near-term prospects for job seekers in our industry.
Not surprisingly, the drumbeat of negative news about the economy resulting from the meltdown of the financial markets has many people on edge about the stability of their companies and the security of their jobs. At Smith Hanley, we have been paying close attention to every aspect of the current crisis — what I see happening in the quantitative job market is surprising, and should offer my audience relief and even confidence.
We are still seeing a healthy amount of hiring and new job openings. Last year was a record revenue year for the quantitative recruiting groups at Smith Hanley; and this year, even if we have a weaker fourth quarter, we will surpass last year’s numbers. Certainly, the overall unemployment rate has climbed rapidly from 5% this summer to a current rate of 6.1%; the weekly jobless reports are also grimmer, with the number of jobs lost in September nearing 150,000. In the panic of the moment, however, it is important to note that the unemployment rate for college educated professionals is still at very low 2.5% and I strongly believe that for analytics professionals, that number is lower still.
While it’s true that this recession is having a negative impact on employment in most disciplines, professionals with backgrounds in data analytics (including statisticians, econometricians, operations researchers, and mathematicians) are continuing to enjoy job security and employment opportunities. Albert Einstein once said: “Try not to become a man of success, but rather to become a man of value.” In uncertain economic times, the best advice we can give the men and women in our field to keep their jobs secure is to work hard and demonstrate to their employers the value they bring to table. As quantitative professionals, they are uniquely qualified to sift through the mountains of business data necessary to help management develop effective streamlining strategies, a vital tool in this economy. In this case, it is nice to be considered to be among “America’s most wanted”.
These are interesting times. In a news cycle full of gloom and doom, I am pleased to report that employment in analytics remains robust, and with no substantial layoffs or hiring freezes in sight. But in this volatile environment, things could be different next week – so stay in touch with your recruiter at Smith Hanley for the latest updates on the analytical employment market.
Linda Burtch
Managing Partner – Smith Hanley Associates
Tuesday, September 16, 2008
Statistician
Kansas City based company is seeking an experienced Statistician. In this role you will coordinate research projects by directing the day-to-day activities of analysts to assigned projects. You be will be responsible for conducting statistical analysis with a focus on experimental design, behavioral analysis, data mining, customer segmentation, predictive modeling as needed in support of business initiatives. For this role a candidate should have a Master's degree in Statistics, Mathematics, Economics, Operations Research as well as a minimum five years developing statistical models. Strong proficiency in SAS with an emphasis on statistical analysis, programming, data manipulation and data quality management skills. Location Kansas City. Salary $85-95K. Ref #HK1041323
Wednesday, February 20, 2008
2008 Job Trends
Don’t Panic Over Recession Forecasts
In light of the dire predictions filling today’s economic and political news, I want to share some of my expectations for the quantitative job market going in 2008. Many of the sobering employment statistics released February 1 by the US Labor Department do not reflect our industry’s current outlook. Though the economy as a whole lost 17,000 jobs in January (the first monthly decline in four years), and the number of long-term unemployed (+6 months) is up about 21% from a year ago, I am happy to report that job security for the quantitative professional is high, with continued strong demand and frustratingly short supply.
Quantitative Professionals are Secure …
Recruiters here at Smith Hanley have not seen any significant signs of slowdown in our job markets. To date, there have been few layoffs in the quantitative professions, and recruiting and hiring remain a priority for many departments. Talented professionals are still in short supply, continuing to make it difficult to fill open positions even in this changing economic climate, and also making quantitative specialists less vulnerable during layoffs.
… with Some Exceptions
The consumer credit groups are a bit of an exception to the general level of security afforded the rest of the quantitative industry. The mortgage crisis has resulted in some cutbacks at lending institutions, banks and real estate companies, especially those heavily involved in the subprime market. For those who remain, bonuses have been uneven.
In addition, corporate hiring managers do seem less interested in entry-level statisticians at this time, believing (or maybe just hoping) they will be able to take advantage of the softening market to add experienced, talented staffers. I continue to encourage our clients to be open to considering junior or entry-level statisticians, as other industries are still competing for more experienced hires. By accommodating the learning curve of entry-level statisticians, companies may be cultivating a unique talent base that will garner large returns on their investments as the need for industry-specific quantitative experience continues to grow unchecked.
Industry Crossover Presents New Opportunities
Hiring managers across the board are realizing they might find the employees they need among the ailing credit industry’s talented quantitative professionals. Candidates with bank and credit experience offer knowledge of sophisticated statistical techniques, as well as expertise in managing large and often messy data sets. In the past, it has been a challenge for other industries to compete with the higher compensation levels and generous benefit packages of the big banks. As the credit industry pulls back, candidates are looking outside that arena with new eyes, suddenly able to appreciate the career advantages offered by knowledge diversification.
Consulting Firms Continue Healthy Growth
As many corporations are realizing the limitations of outsourcing their analytics overseas, they have turned to domestic consulting resources to handle their quantitative needs. This has lead to
a visibly growing demand for quantitative professionals in consulting environments - from very large global concerns to small boutique shops.
Relocation Presents Continuing Challenges
For 18 months, the soft housing market has had a major impact on the ability of candidates who own homes to relocate. A few companies are able to provide a safety net for homeowners through a buy-back policy, reducing the stress involved for families contemplating a move. Other companies have agreed to extend temporary housing allowances (in the past often limited to three months) to accommodate the longer time required to sell a home.
Salaries Remain Firm
In another sign that our industry is riding out the recession news, the recent market pullback has not reduced the salary offers our quantitative candidates are receiving. Though bonuses will be disappointing for many this February and March, others will see on- or above-target payouts. The frequency of sign-on bonuses is also holding steady at about 35% of the offers our candidates receive.
Let Us Help You Navigate the Shifting Economic Terrain
Though negative economic reports continue to make the daily news, the real news for our industry is much brighter. Quantitative professionals are still enjoying lucrative careers, with new opportunities for growth and diversification rising from both traditional and unexpected sources. Smart hiring, creative thinking and careful career management will help ensure a positive outlook for quantitative professionals. I will continue to monitor the market closely for changes and trends, and look forward to analyzing the news to help you stay abreast of developments affecting your career.
In light of the dire predictions filling today’s economic and political news, I want to share some of my expectations for the quantitative job market going in 2008. Many of the sobering employment statistics released February 1 by the US Labor Department do not reflect our industry’s current outlook. Though the economy as a whole lost 17,000 jobs in January (the first monthly decline in four years), and the number of long-term unemployed (+6 months) is up about 21% from a year ago, I am happy to report that job security for the quantitative professional is high, with continued strong demand and frustratingly short supply.
Quantitative Professionals are Secure …
Recruiters here at Smith Hanley have not seen any significant signs of slowdown in our job markets. To date, there have been few layoffs in the quantitative professions, and recruiting and hiring remain a priority for many departments. Talented professionals are still in short supply, continuing to make it difficult to fill open positions even in this changing economic climate, and also making quantitative specialists less vulnerable during layoffs.
… with Some Exceptions
The consumer credit groups are a bit of an exception to the general level of security afforded the rest of the quantitative industry. The mortgage crisis has resulted in some cutbacks at lending institutions, banks and real estate companies, especially those heavily involved in the subprime market. For those who remain, bonuses have been uneven.
In addition, corporate hiring managers do seem less interested in entry-level statisticians at this time, believing (or maybe just hoping) they will be able to take advantage of the softening market to add experienced, talented staffers. I continue to encourage our clients to be open to considering junior or entry-level statisticians, as other industries are still competing for more experienced hires. By accommodating the learning curve of entry-level statisticians, companies may be cultivating a unique talent base that will garner large returns on their investments as the need for industry-specific quantitative experience continues to grow unchecked.
Industry Crossover Presents New Opportunities
Hiring managers across the board are realizing they might find the employees they need among the ailing credit industry’s talented quantitative professionals. Candidates with bank and credit experience offer knowledge of sophisticated statistical techniques, as well as expertise in managing large and often messy data sets. In the past, it has been a challenge for other industries to compete with the higher compensation levels and generous benefit packages of the big banks. As the credit industry pulls back, candidates are looking outside that arena with new eyes, suddenly able to appreciate the career advantages offered by knowledge diversification.
Consulting Firms Continue Healthy Growth
As many corporations are realizing the limitations of outsourcing their analytics overseas, they have turned to domestic consulting resources to handle their quantitative needs. This has lead to
a visibly growing demand for quantitative professionals in consulting environments - from very large global concerns to small boutique shops.
Relocation Presents Continuing Challenges
For 18 months, the soft housing market has had a major impact on the ability of candidates who own homes to relocate. A few companies are able to provide a safety net for homeowners through a buy-back policy, reducing the stress involved for families contemplating a move. Other companies have agreed to extend temporary housing allowances (in the past often limited to three months) to accommodate the longer time required to sell a home.
Salaries Remain Firm
In another sign that our industry is riding out the recession news, the recent market pullback has not reduced the salary offers our quantitative candidates are receiving. Though bonuses will be disappointing for many this February and March, others will see on- or above-target payouts. The frequency of sign-on bonuses is also holding steady at about 35% of the offers our candidates receive.
Let Us Help You Navigate the Shifting Economic Terrain
Though negative economic reports continue to make the daily news, the real news for our industry is much brighter. Quantitative professionals are still enjoying lucrative careers, with new opportunities for growth and diversification rising from both traditional and unexpected sources. Smart hiring, creative thinking and careful career management will help ensure a positive outlook for quantitative professionals. I will continue to monitor the market closely for changes and trends, and look forward to analyzing the news to help you stay abreast of developments affecting your career.
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