Statisticians are hot!!

I got the following career advice from Mankiw’s blog (http://gregmankiw.blogspot.com/) in citing Hal Varian, chief economist at Google:

           “I keep saying that the sexy job in the next 10 years will be statisticians,” said Hal Varian, chief economist at Google. “And I’m not kidding.” The rising stature of statisticians, who can earn $125,000 at top companies in their first year after getting a doctorate, is a byproduct of the recent explosion of digital data.

Now, Finance PHDs can earn much more than $125,000 in thier first year after graduation, even at non-top companies. Why is statistics rather than finance recommended by Hal Varian and Mankiw? Economists can also earn the same or even a little higher salaries than statisticians. They are not on the list either. Maybe economists knows the the prisoners’ dilemma better. Pushing people to other fields can reduce the competition in your field and therefore benefit yourself. Here is another post of Mankiw about  the prisoners’ dilemma: http://gregmankiw.blogspot.com/2009/07/little-league-arms-race.html

Or maybe Mankiw and Varian are expecting the finance sector will not do as well as it is today in the next 10 years. In this scenerio, pays for economists will also go down (relatively) along with finance guys, I am pretty sure. Let’s pray for the finance guys, though we don’t like them that much. Haha

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2 responses to “Statisticians are hot!!

  1. 我觉得最hot的job是那些有impact的位置,statisticians, economist, financial analyst在研究历史数据,trader, fund manager, banker, politician在创造历史数据。能对社会有impact的人收入至少高一个数量级。

  2. But politician’s pay is generally low… I mean in the US, not China. Even the president does not make much money, but has huge impacts on our daily life.

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