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Intro: Welcome to the E6S-Methods podcast with Jacob and Aaron, your weekly dose of tips and tricks to achieve excellent performance in your business and career. Join us as we explore deeper into the practical worlds of Lean, Six Sigma, Project Management and Design Thinking. In this episode number 192, we give an update on Lean Six Sigma salary trends. "Climbing Still?" If you're just tuning in for the first time, find all our back episodes on our podcast table of contents at e6s-methods.com. If you like this episode, be sure to click the "like" link in the show notes. It's easy. Just tap our logo, click and you're done. Tap-click-done! Here we go. http://bit.ly/E6S-192 Leave a Review! http://bit.ly/E6S-iTunes
I Described below is an excerpt from "Beyond the Classroom - Is Lean Six Sigma Right for Me?" It shows a partial analysis of salary trends by Lean Six Sigma certifications between 2000 and 2016. (Source: Quality progress 2000-2017 Salary Surveys; American Society for Quality)
a. According to surveys, topping off the list, LSS MBBs earn an average of $128,000 annual salary (USD), trailed by Black Belts at $103,300, Green Belts a $91,000. and survey respondents with no certification at $82,000. These results are the average of all US-based survey respondents between 2015 and 2017.
II What's the difference? See E6S-176- "Are You Climbing Up?"
III Trending over time
a. Salaries show an increasing trend between 2000 and 2017.
b. Green Belt salaries rose from $65k to about $93k, (then dipping a bit in 2017 to $91k) while non-certified respondents' salaries rose from $58k to only $88k, with a sharp rise between 2016 and 2017. Non-certified, certified Black Belts, and certified MBBs should a similar "spiked" patter in 2017, which seems to be skewing the rest of the trends. It is uncertain what has led to this. It may be a change in ASQ's methodology with how they analyze and report the numbers. Plus, they only report mean salary, when they should report median. This would reduce the skew from extreme salaries that are out-of-the-norm.
c. Unfortunately, these salary trends are misleading. The survey providers do not account for changes in the cost of living.
i. Adjusting for the cost of living, the salaries for non-certified respondents appear stable over the years between $81k and $88k, in 2017 equivalent dollars. (except what appears to be a below average history between 2012 and 2016
ii. Salaries for certified GB respondents were stable over time between $87k and $93k in 2017 equivalent dollars
1. See episode E6S-064 - In the eye of the Cash-holder Part 1A- Stable & Capable for more background on what is statistically "stable"
iii. A full salary trend analysis is available for purchase. It provides a deeper comparison for all belt salary trends and adjusts to annual changes in cost-of-living. Purchase Detailed 2000-2016 Salary Trend Analysis
Outro: Thanks for listening to episode 192 of the E6S-Methods podcast. Stay tuned for episode 193, "CRUDDR." Yeah, we'll explain it later. Don't forget to click "like" or "dislike" for this episode in the show notes. Tap-click-done! If you have a question, comment or advice, leave a note in the comments section or contact us directly. Feel free to email me "Aaron," email@example.com, or on our website, we reply to all messages. If you heard something you like, then share us with a friend or leave a review. Didn't like what you heard? Join our LinkedIn Group, and tell us why. Don't forget you can find notes and graphics for all shows and more at www.E6S-Methods.com. "Journey Through Success. If you're not climbing up, you're falling down." Leave a Review! http://bit.ly/E6S-iTunes