The Harsh Reality of the Data Job Market
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- Опубліковано 30 чер 2024
- #DataScience #KenJee
From everything I'm hearing, the data job market is in a brutal spot. What does the data say?
0:00 Intro
1:18 FAANG VS Non-FAANG
2:00 Current Job Landscape
2:39 Postings by Role
3:00 Postings by Seniority
3:45 Global Job Postings
4:25 Full time Vs non-Full Time
5:00 Who is hiring NOW?
5:34 What does this all mean?
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Good thing about being a data professional, you can analyse why you are jobless from the data available.
lol yes
@@KenJee_ds But we already knew what you will show & your conclusions were already predictable , no ?
I.e Data field is expanding?
😅😂😂😂😂😂😂😂This is evil
😂😂lololol
Lol😊
As a data scientist in healthcare rather than tech, I remember hearing about all the layoffs broadly, but I never saw them in my own field. Consider applying to hospitals, especially university hospitals.
Awesome! Thanks for sharing your experience!
Does the healthcare experience have to be current? I have experience with Cerner and EPIC but no certs in them. I was more of a systems analyst when I worked at a large hospital.
This goes for education, too. I work for a small school district and I'm not aware of layoffs and whatnot in my region.
Sure. Healthcare has high profit. They even don't need to cut unnecessary employees.
It might vary on your experience and industry. Despite having several years in Data Analyst positions and some work in hospitals and biotech I have not received any response from any of the medical or hospital networks for even entry level roles that paid less than half of my previous position.
Eyy! I was one of the people from Reddit that you shared who was able to get a data job recently! Good luck, everyone!
Congrats!! Thanks for sharing the words of encouragement!
Hi ! Thanks for uploading this ! I will be soon in professional retraining to become a data analyst and I’ve started watching videos like yours cause the way to be employed seems to be full of hardships.
I live in France and data driven enterprises are not overwhelming the market yet so I truly hope finding jobs and being employed in future years.
Thank you for the insights. Looking forward to your next video on this topic
Thanks for watching!
Thank you for sharing this great topic.
Thanks for watching!
Thanks for the insight and motivation!!
Thanks for watching! Hopefully this video will be even more actionable
Actually insightful, well done
Thanks!
Another thing is as data skills become more in demand, many jobs don't have the title of "data _____" but the jobs themselves are heavily data focused. So rather than searching for a data title, try look for data job descriptions.
Great advice!!
True. And they get away with minimum wage with those.
Second this. At my company none of the data science jobs actually had that title, instead the role name was functional. For example a common title was “product insights and analytics manager”. Given the job descriptions usually didn’t contain the word data science in it. But it was definitely a data science job.
Never underestimate the power of networking. I feel like the luckiest guy alive right now, I applied to a total of 5 jobs after my bachelor graduation in CS and thanks to a friend I met at my university from Spain who was already working in a big agency, I was able to get a data analyst & programmer remote position in his company.
Completely agree!
Disagree. Friends and networking are not the same thing at all. Network is something akin to exchanging business cards. I would never give preference to someone that a current employee met through networking, but if it is a long time friend of his or hers, that is completely different.
@@michaelnurse9089 You can still get referrals at companies with referral systems. It will just give you an interview, but still something. So networking can still be beneficial.
@@michaelnurse9089you’re the exception. Getting a job through a network is 50x easier than throwing applications at the door. You always get moved to the front of the line.
@@michaelnurse9089 friends are still networks lmao
Thanks for helping out and diving into the data, Ken!!
I've been getting a lot of questions about the job market so it's interesting to see these insights of the downtown in May to the increase during the Summer. Things are looking good for us Data Nerds!! 🤓
Thanks for creating this awesome dataset and letting me use it!!
That's good. We can see the impact of data UA-camrs on the market.
lol 🤷♂️
True
Papaya, I've heard of the September Surge, so I am looking forward to that being a positive trend!
Will be there to Analyze it!
I think people should broaden their search on what types of data jobs they are looking for. Data Science and Data Engineering are more advanced roles...it may help to go after adjacent roles like Data Analyst, DBA, python dev, Web Development, SQL Dev, IT Support/Admin, etc
Agree!
Hello! I'm 20 years old, living in Spain, and I've been studying data science for about 3-4 months. I've never been in a work position before, and I'm considering that the best approach in my situation is to strengthen my profile to be able to work online consistently (this would give me an advantage to live in more affordable areas in the vicinity).
Indeed, as you mentioned, I believe I need to consider expanding my possibilities to achieve my priority.
Do you have any suggestions for quickly finding a job that has the potential for remote work in the future?
Thanks!
@@Joan.Zacarias I have the same question. Would highly appreciate if you gave us an opinion on this
As someone who took a job for an IoT sounding project that then turned out to also turn me into a data engineer/scientist, database dev, software architect, ux designer and required minor knowledge of other fields (also collecting requirements, presenting, talking to future users...), I don't really see how you could fit into a job without being able to look at other fields too. Are there actually jobs that make you do just one thing?
I have over 700 applications bro, 3 years of experience and the "Google Data Certificate" and a Bachelors degree, wish me luck boys
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Great video, would love more videos covering the topic
Should have another one with some advice coming out next week!
A lot of companies over-promised on data science return on investment and since the outcome didn't meet the hype they have cut jobs.
Completely agree
Good video. I’d compare it with the rest of the job market though
Good point!
As a full stack software engineer who feels concerned that LLMs and generative "AI" are a significant factor behind the downturn in demand for software dev roles, I have to admit... I'm kinda surprised to hear that demand for data scientists has dropped so much as well. I figured that you folks would be in super high demand right now.
It seems the demand for AI tools hasn't infiltrated the job market yet. I'm a bit confused about it as well
@@KenJee_dsIts very confusing for me too... I think what's happening is the companies are hiring people straight out of Uni or based on published research
Same with the US housing market: bottomed in the fall of last year and now on the rebound.
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Please do a video of your views on modern contracting and market impact on number of contracting jobs.
Will do!
Thank you Ken for the video 🌻 🥭 (I didn't find the papaya emoji on my phone, but I like mangos)
🍉
There is saturation in the market but also heterogeneity in the profiles.
The more there will be people looking for jobs, the more employers will use severe criteria to select who they want.
Having a masters works better than bootcamps and self taught skills. Having a portfolio works better than just having a good cv. Having some topic expertise on the data at hand (some behavioral science skills, or marketing skills...) is better than being a pure data scientist. It's not about being actually better... but about seeming more adequate to a recruter.
I agree!
When I changed careers and got into data, I immediately knew it was a big mistake. It’s a big black box and no one understands it. Companies have probably been burned and don’t see a point in investing.
They may be rebounding but they have so many people applying that the market is over saturated. Hopefully, that changes as we go into the fall and into 2024. I’ve been job searching since February and it’s been the worst job market I’ve ever experienced.
Hopefully it turns around for you!
For data people looking for a job, rather than doing your 20th coding based udemy course, do some on business and or seek some type of business certification. Especially if you’re interested getting a data gig with a consulting firm.
what are good business certs?
Good advice!
Could you suggest any business one?
Instead of focusing so much on Python, focus on Excel and SQL.
Very timely information. I moved from Australia to the US and have had a difficult time finding anything. It really is difficult to start over in another country with no established network. I've heard job searches are traditionally slower in the summer due to people being off on holiday. but have been getting more pings from recruiters recently. The info about roles was helpful as I've felt like a chameleon not sure whether to focus on DE, DA, or DS roles or even my old role of BA and QA. I also have degrees in CS and DS.
Glad to hear things have been picking up for you!
I talked to a local recruiter in one of the EU countries. The same situation is here. Companies were firing a lot during winter and spring, and now they are slowly starting to recruit. So, just keep calm and wait. The situation should change sooner or later.
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Looks like it’s also possible that the Fang group is preparing for or currently integrating localized version of ChatGPT so they are firing to do more with less. Because business. Lol.
I wouldn’t discount it. From most of the people I’ve talked to, there is still a lot of hesitancy from big companies to truly adopt Chatgpt and some major struggles doing it locally
I feel not enough analysis takes geography into consideration. The job market in a place like Boston could be completely different then somewhere like Denver.
I agree, however, I think it is slowly becoming less relevant with increasing remote jobs. This data was quite difficult to parse out the individual states, so I had to aggregate. Will try to look at individual markets in the future
The company i work for stopped hiring experienced engineers around the end of last year. We have ONLY been hiring college grads pretty much all year.
For reference, i work for a fairly well known, medium sized company with about 20K employees worldwide, with maybe 5K engineers.
Thanks for sharing! This context is very helpful!
heh Ken are u referring to the Canadian job market which is so comeptitive? It seems that there not enough jobs available...
I would argue that there are also more people applying than before which is what is making it difficult
@@KenJee_ds i wonder what can new data science graduates do even for entry level positions as they are asking for minimum 2-3 years of experience! It's insane!
I see data analysis as a skill, not a job. You need to have that skill to do other type of jobs, like Technical Project Manager.
I like this perspective!
It was a job a couple years back, then 1 million people signed up for the MOOCs and every second person working in back-office could claim to have 'data analysis'.
i have done a career transition but I'm worried about my friends who have been laid off that are still trying in data science :(
thanks for share those useful papaya info
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consulting contract start at june and yes this is seasonal change if what you say is true. from the BPO where most jobs are moved to in ph
👍
+1 to the contractor video. Right now it seems like the rates for contract work aren't great although some of the contractor firms offer benefits to offset that.
Coming in a week or two!
What is de inflow of new data scientists? Because I think the supply is increasing very fast while the amount of jobs stay stable.
It seems like there are a lot of entry level data scientist coming in. Currently looking for ways to quantify this if you have any ideas!
600 applications, BSc, MSc, 2 yoe, 3 Interviews, no job.
Papaya, I have been trying to move from education into data analysis since last November. I started applying for jobs in March. I had many interviews up until June, then absolutely nothing since. It just died.
Interesting to hear! I hope they start picking up again for you. My video next week will be about how to improve your chances in a down job market
The issue I find is that they are hiring a junior but they want the experience of a senior. All the “entry level” jobs I find request 1-3 years of experience. Out of almost 70 applications I have only gotten 3 interviews, well I’m about to do the third this week and I hope it works out. Out of all of them I could only get data entry types even though I have a data science degree. Though I’m hopeful that I will find something eventually, I work on projects so I can have experience
Hope to analyze this soon!
That’s a 4% hit rate for interviews. That’s pretty good.
@@erb6411except that the jobs he mentions are all Data Entry, which shouldn't even require a degree
I am unemployment. My english is not fluent. I have to find a tech job in 3 months. Which one is better for finding job these days in texas, frontend or data analyst?
Hello, I am studying a BS in physics with data science as a minor. I want to get into employment as data analyst right after graduation (I have 2 more years left). What is your best advice?
I think you're setting yourself up fine! Try to land an internship or two if you can! Also a strong portfolio will really help your chances
its the same in Software eng. but software in pharma is not impacted, I am sorry I left a job in Pharma couple of years back.
Companies realized that what they primarely need are Data Engineers, not scientist or analysts.
Seems like it
What's the difference?
I'm pursuing a bachelor's degree in computer science (my aspiration is to be a data scientist). Basically, in order to survive in the 21st century world of data, you have to know how to build the technology, manage it, implement it, and monetize from it.
These companies used all of the talent available to build their infrastructure and the talent was discarded.
😔
@MrVenky-mg9ob for a data scientist you need a masters degree in stats/computer science/math/physics or at the very least a bachelor's but that's very rare. Data analyst, you typically only need a certification
Yay a new job posting! Oh wait, its already got 100+ applications 😅
Physician, Heal Thyself!
I was thinking of starting a data science degree next fall... Should I reconsider? :/
What would you consider instead?
I'm definitely interested in hearing your insights redefinition of the modern contractor. I've been doing some contemplation about this as well
Should be coming out in a few weeks!
Hey, Ken. Great video! For my own experience, I've extended 3 job offers for data scientists in the last 12 months, I am in the Fortune 300-level insurance industry.
Thanks for sharing Jeff! Extra data points like this are super valuable!
I'm a hiring manager here in Chicago, this is not been my case at all
Interesting, what have you been seeing?
Thanks for the update, Ken! Also, would love to see your new definition of “contractor” for data jobs. Thanks
Working on this video as we speak!
I think that to make a statement you have to also analyze the demand for jobs. For example, we now know that because of the massive layoffs in tech there is a new pool of thousands of experienced and competitive data scientists competing for the jobs. I think the data at least should include the number of applicants per job overtime.
Yes, would love to track that more accurately
So much hype for Data Science got busted !
Actually all that hype worked out exactly how the corporate world who spurred it wanted for it to work out. They convinced a generation of bright young minds to all learn the same skills, so now the companies have pick of the litter. And since the supply is so abundant, they don't have to offer competitive wages. They can just toss out their current engineers and replace them with cheap young new grads at the drop of a hat. They created an environment wherein candidates have to fight for the few available positions, rather than the companies having to fight for the few available qualified candidates.
great
Thanks for watching!
The solution is simple, just let the bubble pop. Companies are seeking for thousands of seniors DS/Engineers/… and of course the current job market cannot supply that amount of professionals right now. And without giving opportunities to new comers, it will never be. Companies are right now in the Egg and Chicken dilemma. Once companies realize crazy salaries doesn’t justify anymore super seniors professionals, then they will give another change to juniors
Interesting take. Who lets the bubble pop? Is that something we can predict?
What is the best way to learn deep learning fundamentals via implementation (let's say pick a trivial problem of build a recommendation system for movies) using pytorch in Aug 26, 2023?
I generally recommend that!
Definitely interested in your thoughts on what contractor means today
Video coming out in a week or two!
The tech gold rush is over. Anybody telling you otherwise is trying to sell you the shovels.
Only pursue a data science role if it’s something you’re very interested in. There’s many other roles out there where you can make more money, so don’t try to gold rush this sector anymore.
I agree with this. I don't recommend going into data science for the money. It is really tough to keep continually learning if you're heart isn't in it
i think people shouldn’t focus on trying to get a data job. so much data online, just learn the skills and do projects in your own time
Agreed!
That is good advice if they have parental financial support, if you are 35 years with two kids and a mortgage, it is the worst advice ever.
Currently holding a job in non-data field, while doing a data science course at same time, my interest has weaned off lately. I bought into this hype like an idiot, even senior data scientists with half a decade of experience are finding it extremely hard to find a data science job after being layed off at previous workplace. Money essentially wasted, i'd love to keep doing projects but they don't feed the family unfortunately. Can't keep doing them till oblivion if most companies are not ready to hire freshers regardless of their projects and leet codes apart from the course.
@@Tate525 Newly minted MSDS degree and I'm a bit afraid to look and see how much I spent on it lol.
@@Tate525 what field you in?
Yes, please to a video on the contract side of things. Contract roles have been the bulk of more promising job interaction my friends have had over the last 6 months and I'm curious if they are the new norm (along with offering no benefits). Thanks for all the great information! Be well
Working on it now! Should come out in about 2 weeks!
Interview query CEO is a great guy. One of my friends worked for him and I got to chat with him a few times. He’s really a gem of a person. His LinkedIn posts, on the other hand, ….
Jay is a good dude! He is a close friend
😭how can a fresh graduate people to get into industry when such hard time 😢
Just made a video on this :)
I feel like chat gpt can do 80% of data work if you prompt it right.
That last 20 % tho
is it related to usa market only?
Love your video, I'm from a 3rd world country Nigeria 🇳🇬, started coding python when I was 15 but wasn't consistent because of crypto trading, tho I have a degree in CS.
I learnt data analysis last year but I had to switch out very fast to become a full stack web developer (something I have experience in) I honestly wanted something that's not really technical and won't stress me ... Truth is data analysis as a career is overrated, I feel into the hype...
Data analysis should be an ad-hoc skill in any field, I feel career prospects in data analysis is pretty low.. Data scientist and data engineering is wayyyy better for someone looking for stable job, stable pay and career prospects
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Seems true
Should i switch to cybersecurity then. i just started getting into data science recently.
I’m not sure what the cyber security market is like. I would pursue whatever field interests you the most
@@KenJee_ds oh ok thanks for the reply .
The number of data analytics recruitment is increasing in Canada actually. So, I guess, if you apply to data analytics roles instead of data science roles, you're more likely to get a job.
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How many of those “non senior” roles have senior role job descriptions? Lol
Good question
Thanks for the content! I've been studying data science for a few months and I'm about to build my portfolio, even though I lack formal degrees. My top priority is strengthening my profile for remote work availability. Should I apply to similar sectors as well? Is it advisable to pursue job opportunities that list educational requirements, even if I don't have them?
Thanks!
My view is that when market demand exceeds supply like a few years back - ignore requirements. If supply exceeds demand they are getting a 1000 applications and they will filter using software anyone who does not straight up meet the requirements. You can apply, but make sure you spend 5 minutes applying and not 5 hours, and make sure you don't count it as an actual valid application in counting your rejections.
I agree with @michaelnurse9089! I would also say that if you're going to ignore requirements, I'd go straight to the source with cold email or direct reachout to a recruiter. If you go through job boards, you will likely just get filtered out
I think that cs isn't gonna be a valid option from now on. It's been the most mainstream degree for the past 10 years. That happens with every industry. The IT industry was red hot from 1995 to 2000 and then went bust in 2001, Oil drilling was on fire from 2010 to 2014 and is now in dangerous territory. Noone tells students that the real world depends on the capital flow into and out of markets
Interesting perspective! I think that CS will eventually enter some sort of downward trend, but I would imagine it would be longer than 10 years. I have no clue though lol
Data job is not necessary in companies
I would to add there’s a rise of job posts for Analytics Engineer. The duties and responsibilities are a mix of data engineering, BI, database management, and data analytics.
100%
What is the rate of fake job posting?
Good question. Not sure, but will try to analyze
interesting
I was affected by massive layoffs as a former Big4 tech consultant. I earned the title Senior Data Scientist but it seems like I am overqualified for the positions in the market. I positioned myself to focus on social media and build my own LLC, Originality Works LLC. I want to see how it goes being on my own but for now, the job market seems terrible.
Good luck!
@@KenJee_ds Thanks so much! I appreciate the encouragement 🙏
I think one opinion that might help also is scaling up to roles where data can be applied to other fields. Like theres a difference between physics and industrial physics.
True!
Papaya! :)
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Big tech is all that makes the news and people tend to incorrectly extrapolate this to every other industry. It's not surprising but thankfully incorrect. My life hack here is to pay zero attention to "the news". 😂
Love it haha
How about the data jobs in India?
They were following a similar trend with supply
papaya!
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put cybersecurity on the list
What about machine learning?
This falls into the came category as these jobs. ML Engineer roles were included but made up a smaller portion of jobs than data scientist, data analyst, and data engineer
@@KenJee_ds Does it mean that data scientist is not a good career for the futur ? Next year I will get my degree in ML here in Canada. I was confused about your highlights. Please let me know and thank you in advance.
FAANG is so overrated. Plenty of jobs out there if you aren't a leetcode tech bro needing validation from San Francisco
I agree!
Plenty? Nice. What cities are hiring juniors? Willing to leave the Bay Area
Papaya!
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But we already knew what you will show & your conclusions were already predictable , no ?
I.e Data field is expanding?
Papaya
What happend in may tho?
Good question! I would like to know haha. Maybe the start of a quarter prompted major changes organizationally?
PAPAYA
Idk is this cuz chat gpt
That could be a factor, but honestly I think that shift will come later. Many big companies are still hesitant to adopt for privacy issues
papaya?
😎
Why everyone is making Videos that Data Analyst & the Data Science / Data Engineer people will lose their jobs to AI?
I think it is easy to see how AI can impact data work with the release of the code interpreter. I certainly think the role will change, but I haven't seen any companies truly replacing data people with these tools yet
@@KenJee_ds but the possibility is there?
P A P A Y A
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papaya
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What tips you want to give to beginners??
I have a playlist called data science beginners that you can check out! I also have a video coming out next week with all my recommendations for how to apply in a down job market! Please stay tuned
Pappaya
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Papaya 😂
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haahhaha papayaaaaa :-0
Papaya squad!!!
Data science is dead , long live Machine Learning Engineers
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