In a report titled “The Best Jobs in the US: 2019”, Indeed maintains that the job of a Machine Learning Engineer has grown to be a highly promising position – it records a growth of 344% and an average salary base of US$ 146,085.
As you can see, 9 out of the 25 listed jobs on Indeed’s report are from tech-related fields. This is not surprising as tech-roles, particularly the ones in Data Science, AI, and ML, are gaining importance across various parallels of the industry.
A recent report from Gartner states that by 2020, the rapid growth in AI will give rise to nearly 2.3 million job postings in Machine Learning.
Let’s look at some of the best and high paying jobs in Machine Learning:
- Machine Learning Engineer
An ML Engineer is a professional responsible for both training and creating data models. The trained data models are then used to automate processes like image classification, speech recognition, market forecasting, to name a few. The job demands exceptional programming, mathematical, and statistical skills.
The average salary in India: Rs. 9,50,000
The average salary in the US: $ 1,46,000
- Director of Analytics
The Director of Analytics is responsible for supervising the Data Analytics and Data Warehousing departments. Besides, the Director of Analytics aligns the management, development, and integration of Data Analytics and Business Intelligence to support the mission and vision of the company.
The average salary in India: Rs. 6,45,000
The average salary in the US: $1,40,837
- Principal Data Scientist
A Principal Data Scientist is tasked with the duty of supervising and managing the entire Data Science team. He / She guides them in the development process of analytics models and is also the leading voice behind developing project plans. Principal Data Scientists must possess strong statistical analysis skills along with a knack for solving complex problems.
The average salary in India: Rs. 17,11,180
The average salary in the US: $1,46,128
- Computer Vision Engineer
Computer Vision Engineers apply computer vision research techniques on vast amounts of data to find solutions to various real-world problems. They work in close collaboration with other teams to develop and implement novel embedded architectures. Also, Computer Vision Engineers possess in-depth knowledge of ML systems.
The average salary in India: Rs. 4,50,000
The average salary in the US: $1,22,310
- Data Engineer
Data Engineers are responsible for processing and converting data into more readable formats for analysis purposes. They must develop, build, test, and maintain data architectures, including data warehouses, databases, and large-scale data processing systems. They help channelize the flow of relevant information from these vast reservoirs for Data Scientists to process, analyze, and interpret.
The average salary in India: Rs. 8,35,755
The average salary in the US: $ 1,61,591
- Data Scientist
Data Scientists are data experts who can take massive amounts of raw data and transform it into valuable business insights. Data Scientist gather data from multiple sources, clean and organize it, process it, analyze it, and interpret it to extract meaningful information from large datasets. They also have to explain these insights to both the technical and non-technical members for the smooth development of business strategies.
Average salary in India: Rs. 6,99,928
Average salary in the US: $ 1,17,345
- Algorithm Engineer
Algorithm Engineers design, analyze, implement, optimize, profile, and evaluate computer/ML algorithms. Their goal is to minimize the gap between algorithm theory and practical applications of algorithms in Software Engineering.
The average salary in India: Rs. 5,40,220
The average salary in the US: $ 1,15,223
- Computer Scientist
The primary task of Computer Scientists is to develop new technologies, systems, and computer-based solutions. Their work revolves around various technologies, including AI, Robotics, Information Technology, and Virtual Reality. They work together in a team along with Computer Programmers, Information Technology Professionals, Mechanical/Electrical Engineers, etc.
The average salary in India: Rs. 16,24,615
The average salary in the US: $ 1,10,100
- Data Analyst
Data Analysts primarily focus on interpreting data and convert it into such information that can be used to improve business decisions and strategies. They identify the hidden patterns and trends within large datasets and aid businesses in using those insights to take sound business decisions.
The average salary in India: Rs. 4,97,550
The average salary in the US: $ 84,760
- Research Engineer
Research Engineers collect data and samples from disparate sources and test them to determine the best-suited procedure to use for application development. They also write summaries of their studies and structural tests, prepare standard guidelines for tests, present product performance to Project Managers, and so on.
The average salary in India: Rs. 6,52,230
The average salary in the US: $ 65,122
Machine Learning Salaries
Most AI and Machine Learning jobs in India are concentrated in e-commerce, IT, and FinTech since these rely heavily on as they rely on cloud-tech, data analytics, and business intelligence to facilitate industrial automation. For freshers in this line, the salary range may vary between Rs. 4,50,000 – 8,90,000. As experience in the field increases, the salary package also increases and can range somewhere Rs. 15,00,000 – 50,00,000 per year. Such a huge difference between the salary is due to various factors like the company one works for, years of experience, skillset, and so on. While professionals with 5-8 years of working experience may earn around Rs. 15 – 20 LPA, those with over 10 years of experience can earn more than Rs. 30 LPA and higher up to Rs. 50 LPA.
In most IT hubs of the country, the salary range is reasonably good, be it Bangalore, or Pune, or Mumbai, or Hyderabad, or NCR. However, when it comes to salary package, Mumbai takes the lead with almost Rs. 13.3LPA for ML jobs. It is closely followed by Bangalore with Rs. 12.5LPA, and then NCR with an average salary package of Rs. 11.8LPA. In Pune, one can expect an average salary package of around Rs. 10.6L, while in Hyderabad, the salary package will be around Rs. 10.2LPA.
In India, big names like Fractal Analytics, Deloitte, IBM, Accenture, Amazon, LinkedIn, Citrix, Flipkart, and Myntra, recruit for various ML positions including Machine Learning Engineer, Machine Learning Analyst, Data Scientist, NLP Data Scientist, Data Analyst, Research Engineer, to name a few. ML professionals working for such top-notch companies can earn anything between Rs. 8-12 LPA. Likewise in the USA, tech-magnates such as Facebook, Google, Amazon (it’s everywhere), Pinterest, Twitter, Yelp, and HubSpot are always looking to hire talented ML professionals. The average salary ranges between $70,000 – $146,000.
When it comes to the annual salary package, it must be admitted that compared to other tech-developed nations like the US and UK, salaries of ML and AI professionals in India is much less.
However, according to the ‘Salary Study-2018’ by Analytics India Magazine, nearly 40% of professionals in the field of Data Science and Analytics fetched an annual salary package over Rs.10 lakhs. So, it cannot be denied that in India, the salary scale is upscaling as well. Other factors aside, if you acquire the necessary Data Science and ML skills, your future in the industry will be very bright.
Latest posts by upGrad (see all)
- Blockchain Developer Resume: Complete Guide & Samples  - January 7, 2020
- Python Interview Questions & Answers You Must Know – Frequently Asked in 2020 - January 7, 2020
- How to Become a Hadoop Administrator in 2020: Everything You Need to Know - January 7, 2020