Wednesday, July 24, 2024

AI Jobs Salary Guide 2024

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Artificial intelligence jobs offer promising salary prospects for individuals with a passion for technology and a commitment to advancing their skills in AI. As AI continues to gain momentum, skilled professionals will remain in high demand, making AI careers not just intellectually fulfilling but also financially rewarding.

Our AI jobs salary guide analyzes various AI roles and their average compensation to help you understand the earning potential of each role.

AI Jobs Salary: Comparison Chart

Roles 0-1 year 1-3 years 4-6 years 7-9 years 10-14 years
Machine Learning Engineer $92,000 to $166,000 $111,000 to $195,000 $131,000 to $229,000 $147,000 to $254,000 $163,000 to $284,000
AI Engineer $89,000 to $164,000 $103,000 to $185,000 $113,000 to $204,000 $117,000 to $209,000 $119,000 to $215,000
Data Scientist $91,000 to $153,000 $110,000 to $183,000 $119,000 to $201,000 $122,000 to $207,000 $132,000 to $229,000
Computer Vision Engineer $84,000 to $156,000 $100,000 to $186,000 $107,000 to $199,000 $112,000 to $208,000 $128,000 to $237,000
Natural Language Processing Engineer $114,000 to $204,000 $129,000 to $221,000 $147,000 to $250,000 $171,000 to $295,000 $195,000 to $344,000
Deep Learning Engineer $109,000 to $189,000 $124,000 to $206,000 $134,000 to $222,000 $147,000 to $243,000 $159,000 to $270,000
AI Research Scientist $124,000 to $193,000 $129,000 to $194,000 $141,000 to $217,000 $149,000 to $237,00 $159,000 to $265,000
Business Development Manager $94,000 to $162,000 $94,000 to $164,000 $97,000 to $168,000 $99,000 to $173,000 $109,000 to $193,000
AI Product Manager $111,000 to $197,000 $131,000 to $221,000 $144,000 to $241,000 $154,000 to $255,000 $169,000 to $276,000
AI Consultant $97,000 to $174,000 $108,000 to $187,000 $116,000 to $200,000 $122,000 to $209,000 $130,000 to $219,000

Important Note:  The salary data provided in this guide is sourced from Glassdoor, a reputable platform for job seekers and professionals to access salary insights and company reviews. It’s important to keep in mind that actual salaries may vary slightly based on factors such as the type of company (e.g., startup, mid-sized corporation, large enterprise) and the financial standing of the company at the time of employment.

While the artificial intelligence salary ranges discussed here represent typical compensation levels for AI roles based on industry standards, individual offers may vary based on negotiation, location, specific job responsibilities, and other factors.

Machine Learning Engineer

Machine learning engineers design and implement machine learning algorithms and models to solve specific business problems. Machine learning, because it already has so many practical applications, is generally considered to be one of the fastest growing job titles in the AI landscape. Salary increases can come quickly with experience in advanced skills like machine learning frameworks.

  • Early to mid-career: $111,000 – $195,000
  • Advanced professional: $147,000 – $284,000.

To learn about ML certifications that can advance your career, see our guide, 6 Best Machine Learning Certifications.

AI Engineer

AI engineers develop and deploy AI systems, including machine learning models and deep learning algorithms. They create algorithms, build AI models, and integrate them into applications and products. The amount you earn leans on your level of experience. AI engineers tend to be employed in the technology, finance, healthcare, and consulting industries.

  • Early to mid-career: $102,000 – $204,000
  • Advanced professional: $113,000 – $215,000

To learn about AI certifications that can advance your career, see our guide, 30 Top AI Certifications.

Data Scientist

Data scientists are responsible for collecting, analyzing, and interpreting complex data to inform business decisions and strategies. They utilize statistical techniques and machine learning algorithms to derive insights and solve problems. Data scientists require a solid understanding of programming languages like Python or R, as well as expertise in data manipulation and visualization. Experienced data scientists with advanced degrees or specialized skills are in very high demand.

  • Early to mid-career: $110,000 – $183,000
  • Advanced professional: $119,000 – $229,000

Computer Vision Engineer

A computer vision engineer specializes in developing algorithms and systems that enable machines to interpret and understand visual information from digital images or videos. They work on tasks such as object detection, image recognition, and video analysis. Computer Vision Engineers often collaborate with software developers and researchers to implement and optimize computer vision solutions for various applications such as autonomous vehicles, medical imaging, robotics, and augmented reality. Startups and companies focusing on advanced technologies often offer competitive compensation packages with additional perks like stock options.

  • Early to mid-career: $100,000 – $186,000
  • Advanced professional: $107,000 – $237,000

Natural Language Processing Engineer

Natural language processing (NLP) engineers develop algorithms and models to enable computers to understand, interpret, and generate human language, or a reasonable facsimile of human speech. They work on tasks such as text classification, sentiment analysis, machine translation, and chatbot development. There are already many highly practical applications of NLP, hence the high salary range at the top end.

  • Early to mid-career: $129,000 – $221,000
  • Advanced professional: $147,000 – $344,000

Deep Learning Engineer

A deep learning engineer is a specialized role within the broader field of artificial intelligence and machine learning. These professionals focus on developing and implementing deep neural networks and other machine learning algorithms to solve complex problems like image recognition, natural language processing, and autonomous driving. Due to their high-demand skill set, deep learning engineers command competitive compensation.

  • Early to mid-career: $109,000 – $189,000
  • Advanced professional: $134,000 – $270,000

AI Research Scientist

An AI research scientist is at the forefront of developing new algorithms, models, and techniques to advance the field of artificial intelligence. These professionals typically hold advanced degrees in computer science, mathematics, or related fields and are skilled in areas like machine learning, statistics, and data analysis. Because an AI research scientist may do more theoretical work, the pay is not always as high as other AI specialities.

  • Early to mid-career: $129,000 – $194,000
  • Advanced professional: $141,000 – $265,000

Business Development Manager

The role of a business development manager in AI is crucial for bridging the gap between technical innovation and market growth. These professionals identify business opportunities, forge strategic partnerships, and drive revenue growth for AI products and services. They play a momentous role in scaling AI solutions and driving adoption among customers. Experience level and track record of successful business development initiatives significantly impact compensation.

  • Early to mid-career: $94,000 – $162,000
  • Advanced professional: $97,000 – $193,000

To learn about generative AI certifications that can advance your career, see our guide, 12 Best Generative AI Certifications.

AI Product Manager

AI product managers oversee the development and deployment of AI-powered products and solutions. They collaborate with cross-functional teams, including engineers, designers, and marketers, to define product roadmaps, prioritize features, and ensure alignment with business objectives. Experience in product management coupled with AI expertise commands a premium in this role.

  • Early to mid-career: $131,000 – $221,000
  • Advanced professional: $144,000 – $276,000

AI Consultant

AI Consultants provide expert guidance to organizations seeking to leverage AI technologies for business transformation. They assess client needs, design AI solutions, and oversee implementation to deliver tangible outcomes. Salary for AI consultants can vary widely based on consulting firm, experience level, and project scope. Geographic location also influences compensation, with major consulting hubs offering higher salaries.

  • Early to mid-career: $108,000 – $187,000
  • Advanced professional: $116,000 – $219,000

How Do I Get Paid More as an AI Professional? 

To increase your earning potential and get paid more as an AI professional, the following strategies can be effective:

Hone Your Skills

Continuously improving and refining your skills is key to increasing your value in the job market. Stay updated with the latest AI trends and technologies in your sector. Take online courses, attend workshops, and actively seek opportunities to deepen your expertise.

Get Certified

Obtaining relevant AI certifications can significantly boost your credentials and marketability. Certifications validate your expertise and demonstrate your commitment to professional development.

Get a Degree

While not always necessary, having an advanced degree (such as a master’s or MBA) can enhance your earning potential, especially in certain fields like business, healthcare, or technology.

Build a Portfolio

Showcase your skills and accomplishments through a strong portfolio. This could include projects you’ve worked on, case studies, articles, or designs. A compelling portfolio demonstrates your capabilities and can differentiate you from other candidates when negotiating higher compensation.

Network

Attend industry events, join professional associations, and connect with peers and mentors in your field. Networking can lead to new job opportunities, referrals, and valuable insights into salary trends.

To see a list of the leading generative AI apps, read our guide: Top 20 Generative AI Tools and Apps 2024.

5 Tips For Negotiating a Higher AI Job Salary

  • Research market rates: Before entering negotiations, research the typical salary range for the specific AI role and location. Websites like Glassdoor, PayScale, or industry reports can provide valuable insights into what companies pay for similar positions.
  • Highlight your value proposition: During negotiations, emphasize the unique skills, experience, and qualifications you bring. Share specific examples of past projects or achievements demonstrating your AI expertise. Quantify your contributions whenever possible.
  • Be prepared to negotiate beyond base salary: Salary negotiations aren’t just about base pay. Consider other compensation components such as bonuses, stock options, healthcare benefits, or professional development opportunities. If the company can’t meet your desired salary, explore different avenues for compensation that may be negotiable.
  • Practice effective communication: Approach salary negotiations with confidence and professionalism. Clearly articulate your salary expectations based on market research and your value proposition. Be respectful but assertive, and avoid underselling yourself.
  • Know when and how to negotiate: Timing is crucial. Ideally, negotiate after receiving a job offer but before accepting it. Keep the negotiation collaborative rather than adversarial, aiming for a win-win outcome for you and the company.

AI Jobs Salary Outlook: Major Job Growth 

The salary outlook for AI jobs remains promising due to the increasing demand for skilled professionals.

According to ZipRecruiter, the job outlook for AI careers is expected to grow massively as AI becomes capable of accomplishing more tasks. Data from the National Bureau of Labor Statistics shows that employment in computer and information technology occupations is projected to grow much faster than the average for all occupations from 2022 to 2032. The Bureau stated that about 377,500 openings are projected each year, on average.

​​This significant demand underscores the favorable salary outlook for AI professionals as organizations compete to attract top talent with specialized skills in artificial intelligence, machine learning, data analytics, and related fields.

Bottom Line: The Future for AI Salaries is Bright

AI jobs can be highly lucrative, especially for individuals with the right skills, experience, and qualifications. Salaries for AI-related roles vary based on job title, location, industry, level of expertise, and labor market demand-supply dynamics – yet in any case, are some of the highest salaries across the tech sector.

The increasing demand for AI expertise is driving the overall salary outlook upward. Organizations are willing to invest in top talent, and this talent is scarce. To maximize earning potential in AI jobs, professionals should focus on continuous learning, skill development, and staying abreast of industry trends.

For more information about generative AI providers, read our in-depth guide: Generative AI Companies: Top 20 Leaders.

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