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@BCG2, graduated high school at 16, college at 19 with full time software engineering positions during college doing exactly what I'm doing now. Was able to leverage that to come in as an experienced hire + hot skill bonus and come in as Snr Analyst. Currently a consultant.
Correct. The relationship between age and salary is clearly not linear below adulthood and after retirement. We also don't have data above low 40s to know whether it is linear between then and retirement. However, the data we do have are fairly linear, and they exhibit only a very small amount of heteroskedasticity at higher ages. I see no utility in forcing a coefficient at zero.
So the purpose of the regression would be to plug in ones own age and see if you're above or below average for your age. As well as understanding the average dollar impact of additional years of age on salary. For those purposes, the regression is quite suitable.
Yeah new partners are similar at BCG, under $1M first year. Thanks for responding :)
26, 85K
22, 75k
You can now stop with these salary surveys on FB: http://www.cnbc.com/2016/08/03/the-25-highest-paying-companies-in-america.html
1. ATK (Really?)
2. S&
3. M
8. BCG
But it doesn't tell the whole story - years, level, internal support staff , etc
36 - 187+75
23-99k
22 - 80k
29 - 101k
I want to point out that lateraling aka jumping ship from one firm to another will net a significant increase in pay, take that into account when looking at these salaries
Time to jump I guess
44 $153k
21 $82
42 - 170
OW coefficient of friction is somewhere around 👎🏼, mu guys have no idea.
You should not force a coefficient of zero. The regression is obviously not valid outside the range of the data. It should also be obvious that you probably won't earn 22k as a 14 year old.
31, 110
26 - $75 👎
We already had one survey
SC, S&O post MBA