Job Market Cheat Codes: Prototyping Salary Prediction and Job Grouping with Synthetic Job Listings

TL;DR

This paper introduces a machine learning framework using synthetic job listings to predict salaries, classify job roles, and group similar jobs, providing insights into job market trends and key influencing factors.

Contribution

It presents a novel methodology combining regression, classification, clustering, and NLP techniques on synthetic data for comprehensive job market analysis.

Findings

Identified key features influencing salaries and job roles.

Developed effective models for salary prediction and job classification.

Discovered distinct job clusters based on data characteristics.

Abstract

This paper presents a machine learning methodology prototype using a large synthetic dataset of job listings to identify trends, predict salaries, and group similar job roles. Employing techniques such as regression, classification, clustering, and natural language processing (NLP) for text-based feature extraction and representation, this study aims to uncover the key features influencing job market dynamics and provide valuable insights for job seekers, employers, and researchers. Exploratory data analysis was conducted to understand the dataset's characteristics. Subsequently, regression models were developed to predict salaries, classification models to predict job titles, and clustering techniques were applied to group similar jobs. The analyses revealed significant factors influencing salary and job roles, and identified distinct job clusters based on the provided data. While the results are based on synthetic data and not intended for real-world deployment, the methodology demonstrates a transferable framework for job market analysis.