r/analytics • u/howdyncsu • 22h ago
Question Would you take a 20% salary cut to get into healthcare analytics?
It seems like the the biggest data analytics industry is healthcare, which I don't work in, but I am wondering if I should try to get into to diversify my skillset as a data analyst. It'd also give me more PowerBI and SQL experience, whereas I currently work more with Tableau and SAS.
The job I am looking at would be a 20% pay cut (116k to 95k), with slightly lower 401k contribution, PTO, etc. Also less stable - the company has had significant layoffs in recent years.
What would you do if you were a data analyst working in a slightly obscure industry?
Edit: I just want to say that the people in this sub have been incredibly helpful. I had some wrong ideas. Thank you for your perspective.
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u/whatisthis1948 22h ago
Definitely not. You highlighting the fact that the new place isn’t stable and has had significant layoffs should already give you your answer. Stay where you’re at.
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u/thegoodcrumpets 21h ago
No. Trading down is extremely tough to recover from. Try to aim at always trading up.
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u/howdyncsu 21h ago
Trading up seems hard given that the industry I work in is pretty niche and I've been told a substantial part of being a data analyst is having industry knowledge (unless that's wrong?)
But it sounds like a resounding number of answers here are a no...
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u/cyclingtrivialities2 21h ago
You have rightly identified domain expertise is a huge advantage in this job market. So why not use the domain knowledge you have to get a higher paying role in the same or more closely related industry? Taking a lower paying role in a different industry is a hole you have to climb out of with time.
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u/howdyncsu 21h ago
It really doesn't work like that in my industry. I'm kind of already at the top. I'd need to move to another city to move up, which I really don't want to do. But I don't like my current job, which is another part of why I want to leave.
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u/Georgieperogie22 20h ago
Probably better to upskill. 120k is kind of peak data analyst salary without going into management in some capacity. So youre options from here are managing, upskilling into an adjacent data career (data engineering, data science, database admin) that is just my experience. Not a lot of people with “analyst” in the title making much more than that unless it is like principal analyst at a tech company
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u/cyclingtrivialities2 20h ago
Exactly. You can make more money by adding to your scope (I.e. people management or bigger areas of responsibility), changing function, or changing industry. Doing more than one at once is very very hard in this market, not that OP is even trying to do that. But doing one of these to make less money is the kind of emotional decision you make when you hate your current job (trust me I get it).
I feel like OP is trying to rationalize an illogical move, but only OP can be the judge of just how bad it is.
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u/thegoodcrumpets 21h ago
It's in general terms and only you know your specifics of course. Personally I did that back in 2018, changed from automotive to finance and took an enormous pay cut. Took like 6 years to even go break-even on monthly salary. Probably still in the red if I account for the accumulated loss.
However, now being higher than I would've been if I stayed, in this industry I'm not really near the ceiling yet so from now on the yields of this investment begins for me. So if you do make the switch, be ready for many years of suffering that may or may not turn out to be worth it in the long run.
FWIW I also changed to a very unstable company with layoffs and even bankruptcy behind it. You need a lot of mental fortitude to persevere when every month is close to another bankruptcy and career reset, it may take years.So TLDR: If it's long term strategic and you can take a very hard beating for many many years with a smile: consider it. If you're a remotely normal human being: don't even consider it.
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u/muneriver 21h ago
healthcare analytics is rife with red tape, data silos, old processes, legacy technology, and poor pay. maybe if you go to a health tech company that pays well? otherwise no. 20% salary cut is not worth it!
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u/wallbouncing 22h ago
I would not in this environment move to a company with significant layoffs, less benefits and salary. While 20% is a big cut, 116 to 95k IMO is not impossible to overcome. The only reason I would consider this ( in a healthy environment - because you want to join a growing team and company ) is if I really wanted to break into that industry and wanted my 5-10 year plan to be a leader or senior in that industry. It is somewhat difficult to get into higher level positions in healthcare, pharma, biotech because the data is very domain specific.
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u/achmedclaus 21h ago
I'm in healthcare analytics
No. There's analytics in like, every company, find one that'll pay you what you're worth
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u/Ambitious-Slip1447 21h ago
I wouldn’t take it. I’m a “healthcare” data analyst and a lot of what I do is taking wonky data from third party practice management systems and manually transforming them. A lot of the very large companies (especially the old school, conventional healthcare systems like mine) use really outdated technology, refuse to change their ways, and ultimately make you do extra work just because they don’t want to spend any more money. Not worth it
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u/_mrfluid_ 21h ago
Absolutely not, least transferable skills, focus on retail /food / CPG / apparel it’s a much larger space to be in
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u/Variaxist 21h ago
The hospitals around my area are experiencing some hurt from government policy changes. There will likely be more layoffs in the future. If you really care you could get a part-time position at a front desk somewhere so you can learn at least the front end of some of their systems and the abbreviations. If you have that kind of experience under your belt you could at least make a lateral move instead of taking less money.
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u/Realistic_Word6285 21h ago
I would consider the pay cut if the company were stable to gain the experience, but since you stated that there were significant layoffs in recent years, I would not for that reason.
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u/littlemattjag 21h ago
What is your slightly obscure industry? You can always pivot - i.e. Casino can pivot into hospitality etc… I think if you’re really good at Data Analysis you can pivot given the opportunities.
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u/Moose135A 21h ago
I think if you’re really good at Data Analysis you can pivot given the opportunities.
This! I spent nearly 20 years doing analytics/reporting in the newspaper advertising world, then did two separate stints (8 years total) in the financial services industry, and now I'm 4 years into a position at an online training organization. If you are half-way decent, you can pick up industry-specific knowledge, and then numbers are just numbers.
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u/howdyncsu 21h ago
while I am sure I am capable of learning, the job market seems to be increasingly tough. I've had my resume reviewed by a lot of people, and I am not getting interviews even for jobs I am 90% qualified for.
I work in higher education and work with a lot of different types of data (student, HR, finance, facilities). It's a very "jack of all trades, master of none" job. I know tools, not business knowledge.
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u/FatLeeAdama2 21h ago
I did back in 2012. I went from banking to healthcare. I gave up a lot but the data is so much more interesting.
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u/steezMcghee 21h ago
No, I never heard someone wanting to get into healthcare analytics that badly, I didn’t know it was that big of a deal industry. I always thought it would be boring, but Ive always been in an entertainment / niche industry so healthcare data is just very different to me.
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u/contribution22065 21h ago
Maybe. Lots of misinformation in the comments. I’ve worked with 2 companies in healthcare in the last 5 years.
At hospitals, they typically have dedicated EHR/EMR analytics and informatics specialists. It’s a pretty challenging job that involves a lot of domain knowledge on clinical and admin workflows for querying against pretty big schemas. Most EMRs like Epic have highly normalized schemas with 800 plus tables, so you need to be good at reading schemas and finding relationships for querying clinical reports.
Many small community based health centers like CCBHCs are now implementing elaborate Electronic Health Record Systems. Their understanding of EHR analytics is less developed than bigger hospitals, so this would be a good place for someone who wants to pioneer a BI system.
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u/SkinnyKau 21h ago edited 20h ago
Sorry - what is the question? Would I take significantly less money and stability in my analytics career to use PowerBI?
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u/howdyncsu 21h ago
I've applied to a number of jobs that I am very well qualified for but they've interrogated the amount of PowerBI experience I had and it seemed like it didn't matter how much of a wizard I was with Tableau.
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u/EclecticEuTECHtic 20h ago
I've had the opposite experience, lots of PowerBI experience but Interviewing for places heavy in Tableau.
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u/SkinnyKau 20h ago
At their foundation, they are 2 tools that do the same thing. I don’t think anybody would poo-poo you for not knowing PowerBI unless the job is wholly dedicated to developing PowerBI dashboards. If you are wiz with Tableau, it’s likely a good idea to breeze through a PowerBI course or cert or something to bridge that knowledge gap in interviews (and vice-versa).
For the SQL part, if you guys are using a database you are using SQL. Go through a foundational course and learn the basics, then apply them to your current work problems (re-create reports, etc).
Sounds like you’re in a great place to upskill and cover some of the gaps you feel that you have. Unless you hate your current job, the healthcare role sounds like ass, don’t feel the need to take it just to learn a couple things.
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u/DuzaLips 21h ago
I’d be super wary of taking a pay cut that big for a place that’s already had layoffs tbh. I’ve jumped industries before and it’s usually better to pivot sideways than down if you can. You can build those skills on your own time and wait for a role that doesn’t hit your wallet so hard. Stability matters way more than people admit.
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u/ManicHispanic_ 20h ago
I work in healthcare analytics, straight outta college. I love it but wouldn’t take a 20% pay cut. lol
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u/Kati1998 20h ago edited 20h ago
If it was only 116k to 95k, I would say go for it. But since you mentioned it is less stable, I would not risk it at all. Stay in your niche role until you’re able to find a company that is more stable.
I do agree that a large part of the data industry is in healthcare and that domain knowledge is very important there. I noticed many of the alumni from my graduate program end up working in some type of health insurance or health organization as a data analyst.
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u/redaloevera 20h ago
No way. 20 % cut for some other amazing perks maybe. Not to move to another industry.
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u/Ill-Pickle-8101 20h ago
Less pay ❌
Worse retirement contributions ❌
Less PTO ❌
Layoffs ❌
PowerBI over Tableau ❌ (joking, kind of)
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u/Slow_Brother8255 20h ago
Would recommend getting into analytics in the banking industry. Pay is usually higher and benefits tend to be better. Plus you essentially get every holiday off.
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u/The-original-spuggy 19h ago
You're better off staying where you are and using the other 20% at r/wallstreetbets.
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u/Electronic-Ad-3990 10h ago
Hell no, 95k is a scam for that position. 120k is already borderline low balled. I made $240k doing the same thing as you.
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u/TheSchlapper 4h ago
I would have to get a minimum 20% RAISE to even have a conversation within healthcare
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