Know your True Worth as an Enterprise Data Scientist
As an Enterprise Data Scientist, you will get offers from other Enterprise organizations to replicate what you do for your own organization. But only do it if you know your true worth.
I’ve reached a milestone in my career as an Enterprise Data Scientist- I’m rejecting contracts which I used to be so desperate for, just a few years ago. It’s because I know my worth- I value my time, both at work and at home.
But I get it- the struggle is real when starting out as a data scientist doing AI work, and then having to translate those skills at the Enterprise setting. When starting out, you take all contracts and clients who are willing to take a risk on you. When there is more risk, the value of your contract or hourly rate is small.
But when you are more senior and well established in practicing and implementing data science at the Enterprise, then your risk to potential clients is less, as you have delivered on full data science and IT cycles, showing ROI to the execs who employ you at Enterprise.
As you become skilled at Enterprise Data Science, you no longer are seen as a risk to potential clients, so now you can set your price. By that, you set your price according to how you value your own time. I set mine at half the going rate of major AI consulting firms, which is still 2 to 3 times my rate as an employee. I won’t spend time on a new contract unless I get what I’m worth. What you’re worth is what you are willing to sacrifice, and how much risk you pose to potential clients.
That’s why you should always focus on delivering on complete AI/ML systems that have business impact to your organization. If you do so, you will be on your way to setting your hourly rate, and eventually landing some big contracts!
If you're looking for support from me, here are a few options:
Enterprise Data Science Consultancy: With my consult team comprised of a Senior Data Scientist, Senior ML Engineer, Senior Data Engineer, and Senior Cloud Engineer, we will help you architect and build your Enterprise Data Science platform, and transfer knowledge to your IT team to maintain and optimize it. We will also overlay an MLOps framework to manage the AI solutions you build on this platform. If you don’t have an MLOps team, we will help you build one. Please get in touch about this consultancy here
Coaching and Mentorship: I offer coaching and mentorship; book a coaching session here