An interesting feature of Lambda School is how often people look at something that literally just happened and say, “That’s not possible.” Usually it’s an assumption that it’s impossible to [x] without a college degree. As if degrees bestow the holder with magical powers.
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Replying to @Austen
Meanwhile, at many high status employers of data scientists, they are classified closer to engineering than to business analysts and earn engineering salaries. Those do not *terminate* at $140k a year they *start* at $140k a year in this market.
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Replying to @patio11
Yes, please send me the high quality data scientist with years of experience for $120k
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Replying to @Austen
At that price I'd be tempted to found Underpaid Data Scientist Arbitrage Recruiters, Inc. "The resume says data scientist but you should read 'capable of writing Python'" "Wait for a 50% discount to market?" "Well Underpaid is literally in the name of the company." "Sold!"
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Replying to @molten_steel_ @Austen
So it is an industry but it's largely artisanal and tolerates an incredible amount of value leakage to non-essential parts of the supply chain.
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(If one squints, recruiters are partially in the business of identifying mispriced talent and correcting this for a commission, but in practice the core mispricing they target is "talent is illiquid and gets more valuable but not materially higher priced over time.")
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(So the primary value add is acting as a sales agent for new jobs, attempting to convince talent to a) transition jobs faster than they would in the base case and b) transition jobs to the client rather than to non-client firms.)
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(The incentive structure of recruiting and the behavior of hiring companies makes it difficult to run a traditional recruiting operation and say "Client is currently an X but could plausibly be a Y, Y is 3x the salary, you should interview them today.")
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You'd need to hire an "agent" as an employee if you want the incentives to work in favor of the employee
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