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Bowl Leader
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401k Roth or traditional 401k?
Any one got the retention offer from TCS ?
I just hit $200k NW and it’s been 7 months since I made my post (link below) about hitting $100k NW in Dec ‘21.
I’m just mind-blown since it took me 2.5 years to get the first $100k and it’s snowballed from there. I’ve gone from $82.5k TC to $238k TC plus a $20k appreciation on a house I bought at the beginning of the year
Can’t really talk about finances with friends/family so this is the only place I can share milestones like this haha…we’ll see if I can hit $300k by EOY
https://joinfishbowl.com/post_muypy45qoy
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Bowl Leader
Happy middle of the week. May your pilots show lift.
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No. What I think is that the goal of a data science career is to construct the means for extracting business-focused insights from data. More importantly, you're doing this in a way that fulfills your personal career goals.
Now that MAY be at FAANG , but there are other places where those skills could be used (think healthcare companies, transportation companies, FMCG/retail companies, the govt and even manufacturing companies), such as demand forecasting, optimization and decision modelling , predictive/prescriptive and descriptive analysis etc.
You see a lot of consultants (esp on the non-tech/strat side) jump to FAANG because they're some of the few companies can continue to pay high salaries and reliably hire tons of people every year.
You have a lot more options that pay well and have good WLB if you're a bona fide data scientist.
No. First, not all of those employers are particularly appealing for various reasons (e.g. WLB at Amazon, mission at Facebook, future at Netflix). Second, those positions are concentrated geographically and, for many people, location is the most important feature of any job. Third, FAANG DS roles are likely far more narrowly defined than outside FAANG. While broader industry DS roles may better prepare someone for leadership and other opportunities, narrow FAANG DS roles will best prepare someone to be a great engineer.
I’m not saying that there aren’t broad scope roles in tech like product management. I’m saying that roles in FAANG are more likely to have a narrow defined scope than in industry. Outside of tech data scientists are more frequently expected to be a jack of all trades.
Bowl Leader
They're prestigious, but career goals are your own. For company choice, tech pays better and is where the tools and techniques us data people use are made, so it's a natural lure. If your passion lies elsewhere though, you're in luck, since everyone could use someone that can see patterns. And even if you're just in it for the money, you still have options other than tech, in hedge funds and consulting industry advancement.
For career goals, equally up to you what you want and can achieve; working in analytics gives a lot of exposure. There's are one or two threads somewhere in here that ask if data people are partner track and CEO material. Might be worth trying to find them. Short answer is sure why not, but on the consulting side the dedicated practices are still new so we haven't seen many people advance high up yet.