Wondering what is the artificial intelligence industry’s salary range in India?
Artificial Intelligence (AI) has been one of the hottest buzzwords in the tech sphere for quite some time now. As Data Science is advancing, both AI and ML are also advancing by leaps and bounds. In fact, AI adoption across various parallels of the industry is taking place at such a rapid speed that Gart ner predicts, by 2020, AI will create around 2.3 million jobs!
If you are a part or wish to be a part of this fast-paced, creative, and challenging industry, then read on to know the best job roles in artificial intelligence and the salary range in India.
Essentially, AI is a broad canvas that encompasses machine learning, deep learning, and natural language processing (NLP), among other things. As a result, AI applications across various industries are highly expansive, including innovations like AR/VR, smart personal assistants, IoT, gaming, robotics, face recognition software, speech recognition, vision recognition, recommendation engines, and much more.
Artificial Intelligence Salary Range in India
Naturally, the more varied the applications, the greater is the variation in AI job roles and their respective salary packages. For instance, while the entry-level Artificial Intelligence salary in India for almost 40% of professionals earn around Rs. 6,00,000, mid-level and senior-level artificial intelligence salary could earn more than Rs. 50,00,000 in India.
In the past few years, careers in AI have peaked to cater to the growing demands of digitally transformed industries. According to a 2018 report by Indeed, the need for AI skills has more than doubled in the past three years, with job postings in the domain going up by a whopping 119%.
Unfortunately, there are not enough talented professionals in Data Science (AI and ML) who can fill these job vacancies. According to a study by Analytics India Magazine in collaboration with Great Learning, “over 4,000 positions in India remain vacant due to shortage of qualified talent at the mid and senior level.”
The shortage of qualified professionals in AI is because it is still an emerging technology that demands a unique and specific set of skills. Because of the shortage of talents in this field, the salary range of artificial intelligence in India is high. The more skills and experience you acquire in this domain, the higher will be your remuneration.
Career in Artificial Intelligence – Educational Requirements
Generally, most entry-level AI jobs demand a bachelor’s degree in Mathematics/Statistics/Computer Science/Information Technology. However, senior-level job roles (managerial/administrative or R&D roles) require a candidate to have a master’s degree or a Ph.D. in the fields mentioned above or any other related field (Engineering).
As for the skills and knowledge, an aspiring AI professional must possess in-depth knowledge in the following domains:
- Mathematics (algebra, calculus, logic and algorithms, probability, and statistics)
- Computer science (proficiency in coding in multiple programming languages)
- Bayesian networking (including neural nets)
- Cognitive science theory
For professionals already working in the IT sector, it is relatively easier to upskill for AI job roles by enrolling in AI certification courses, or training programs, or online boot camps.
When it comes to experience, nearly 57% of Indian companies recruiting for AI job roles seek candidates with more than five years of experience – the average AI experience of Indian professionals usually is around three years.
Also read: Data Scientist Salary in India
Artificial Intelligence Salary Packages in India
As we mentioned earlier, Artificial Intelligence salary for freshers in India starts at around Rs. 6 LPA and can stretch up to Rs. 12 LPA, with higher-end salaries usually offered by reputed companies like Amazon, Flipkart, Google, Facebook, etc. As for Machine Learning roles, the starting salary for freshers is generally Rs. 8 LPA, and it can go up to Rs. 10-15 LPA, depending upon the job role, skill set, and educational background. Candidates who have strong foundational knowledge in Data Science and a few years of work experience can earn as high as Rs. 17 LPA.
For most AI job profiles, Artificial Intelligence salary in India is much higher than the national average – professionals with AI skills and standard educational qualifications earn higher than their counterparts with similar educational qualifications (without AI skills).
For instance, if you have 2-4 years of experience in AI, you can earn around Rs. 5-20 LPA. For professionals with 4-8 years of experience, the median salary range can be around Rs. 35-50 LPA, and those with over ten years of experience can earn over Rs. 1 crore per annum.
The annual salary packages of artificial intelligence job roles also vary according to location. While Mumbai leads the game by offering the highest Artificial Intelligence salary in India (Rs 15.6 LPA), Bengaluru follows suit with Rs 14.5 LPA. Chennai offers the lowest salary package for artificial intelligence talents in India standing at around Rs. 10.4 LPA.
Here are a few top-ranking AI job profiles with their respective average annual salaries:
- Principal Data Scientist – Rs. 17,11,180
- Computer Scientist – Rs. 16,24,615
- ML Engineer – Rs. 9,50,000
- Data Engineer – Rs. 8,35,755
- Data Scientist – Rs. 6,99,928
- Research Engineer – Rs. 6,52,230
- Algorithm Engineer – Rs. 5,40,220
- Data Analyst – Rs. 4,97,550
- Computer Vision Engineer – Rs. 4,50,000
Some of the biggest recruiters of AI professionals in India are Fractal Analytics, Deloitte, IBM, Accenture, Amazon, LinkedIn, Citrix, Verizon, SAP Labs, Nvidia, Tech Mahindra, Flipkart, and Myntra.
Due to the ever-increasing demand, artificial intelligence salary in India is always burgeoning.
As Artificial Intelligence continues to make its way through Indian industries, the demand for skilled AI professionals will increase in the near future. As of now, the shortage of the right talent in the field only means that employers are ready to shell out very high compensation to acquire qualified professionals with AI skills. So, if you aspire to build a promising career in Data Science and AI, the time is now! upGrad offers various AI courses to learn Data Science, Machine Learning, and Big Data.