Viewed in AlternativeData.org.
The data explosion is undeniably obvious across industries.
But it is especially prevalent on Wall Street, where the number of buy-side mutual funds’ employees engaged in alternative data including geolocation, satellite, web and payment data, has grown by almost six times over the past five years.
Alternative Data provides a helpful overview of the sort of employees with their salaries being drawn to Wall Street’s burgeoning data revolution: Data Analyst, Data Scientist, Data Scout, Data Engineer and Head of Data.
On average, most data professionals being lured to Wall Street do not have graduate degrees and have 11+ years of experience.
The overall cost of assembling a data team, Alternative Data reports, starts at $1.5 million to $2.5 million.
Perhaps the most meaningful statistic on Wall Street’s embrace of data: The total Wall Street buy-side spend on data has grown astronomically the past few years, from $232 million in 2016 to an estimated $1.7 billion next year.