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High student salary without any training or studies? What really matters in sales

11/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
High student salaries in sales are possible, but they are not likely without any training or studies. Sales success is largely driven by an individual's ability to build relationships, close deals, and understand the needs of their customers. To do this successfully, individuals must have a thorough understanding of the product or service they are selling, as well as the market and industry. Therefore, it is important to invest in training and studies to gain the skills and knowledge necessary to succeed in sales.
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Starting a career in PR consulting - What do you earn in a PR agency?

03/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Salaries in a PR agency can vary depending on region, agency size, experience and area of responsibility. Here are some average salaries for various positions in PR consulting in Germany:

Junior PR consultant: 28,000 - 36,000 euros gross per year.

PR consultant with professional experience: 36,000 - 54,000 euros gross per year

Senior PR consultant: 54,000 - 80,000 euros gross per year

PR manager: 65,000 - 100,000 euros gross per year

Managing director of a PR agency: 100,000 - 200,000 euros gross per year

It is important to note that these are only averages and that the salary may also depend on other factors such as educational qualifications, experience, skills and the agency. In addition, there can also be differences between regions, with salaries in large cities such as Berlin, Munich or Hamburg usually being higher than in smaller cities.

As a rule, PR agencies also offer additional benefits such as a company pension plan, paid vacation, flexible working hours and opportunities for further training.

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Salary check: This is what Data Scientists earn in 2023

12/29/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
In Germany, the average annual salary of a Data Scientist in 2023 is around 77,000 euros gross per year. However, this figure varies depending on experience, additional qualifications, and the size of the company. Some of the most experienced Data Scientists can earn an annual salary of up to 150,000 euros. In addition, Data Scientists who are involved in the development of products may receive an additional bonus or stock options.
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Living Frugally - Retirement at 40 How to Finance?

08/27/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

It's difficult to retire at 40 if you haven't saved enough money. Some factors to consider are:

1. Save early. It is important to start saving as early as possible to build a nest egg for the future. The best way to start is by creating a budget and setting aside a monthly amount.

2. Invest in your future. Invest in a retirement account to protect and grow your savings. This can be a 401K, IRA or other investment account.

3. Increase your value. In addition to saving and investing, you can also increase your value through education and other means. This can help you get a higher salary or a better position, which in turn increases your savings.

4. Avoid excessive spending. If you are trying to retire early, it is important to avoid excessive spending. This means spending only what you can afford and spending less than you earn.

5. Consider alternative sources of income. If you don't have enough savings to retire early, you can also consider using alternative sources of income to increase your income. This can be a side business or a part-time job.

It is possible to retire at age 40, but it takes creativity and discipline to make it happen. It is important to compromise and build a nest egg for the future.

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Become a Data Scientist - Study Data Science or not?

08/24/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Many students and high school graduates ask themselves what, in view of the future, would be a good and thus above all sustainable career choice.

If there is a fundamental interest and talent in the topics of IT, software, programming and statistics and mathematics, a number of possible courses of study could be listed.

Whoever finds the profession of a programmer or data engineer too one-sided should look into the job description of a data scientist.

In contrast to pure programmers, the profession of a Data Scientist combines planning, programming and statistical analysis and can therefore definitely be considered more diversified.

Currently, Data Scientists are highly demanded professionals in the labor market. However, whether labor demand in Data Science will continue to exceed supply remains to be seen.

Because in addition to the traditional route of studying, e.g., computer science or business information systems or bachelor's and master's degree programs directly in the field of Data Science, there are an increasing number of fast-track courses and private training programs designed to impart the skills in demand on the market in a compact or condensed format.

The increasing number of available Data Scientists, the further globalization and flexibilization and the increasing acceptance regarding the possible elimination of the need for a degree, could lower the salary level again, seen in the long term. At the same time, simpler tasks in the day-to-day work of a Data Scientist will be able to be partially or completely taken over by algorithms due to automation and advances in the field of artificial intelligence / AI.

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