Artificial intelligence (AI) is transforming industries and job markets at a rapid pace. As per a recent report, the AI software market is estimated to reach $126 billion by 2025. With such immense growth, AI skills are in high demand, and companies are willing to pay top dollar for qualified candidates. This article explores artificial intelligence engineer salary in the US in 2024 at various levels of experience.
The Booming AI Industry
The artificial intelligence industry, witnessing monumental growth over the last decade, has significantly impacted the artificial intelligence engineer salary landscape. AI is being utilized across sectors like healthcare, education, finance, transportation, manufacturing, and more.
Companies leverage AI and machine learning algorithms not only to draw insights, automate processes, improve efficiency, and boost revenues but also to value and compensate the AI engineers who make these advancements possible. It’s anticipated that the AI industry will be reaching an impressive $2,025.12 billion by the year 2030.
Key Factors That Determine AI Salaries
Several factors impact artificial intelligence salaries in the US, such as:
- Years of experience
- Specific job roles and responsibilities
- Level of technical expertise
- Domain knowledge
- Academic qualifications
- Company size and industry
- Geographic location
Understanding these parameters can help artificial intelligence engineer salary negotiations for AI professionals, ensuring better salary packages.
Artificial Intelligence Salary for Entry-Level Professionals
Entry-level refers to candidates who are just starting their AI careers with less than 2 years of work experience. They are involved in activities like collecting, cleaning, and labelling data and testing machine learning models, among others.
Top entry-level AI job roles and average salaries are:
- AI Researcher: $120,000
- Machine Learning Engineer: $117,000
- Data Scientist: $105,000
- Data Engineer: $95,000
- Business Intelligence Developer: $88,000
Mid-Level Artificial Intelligence Salaries
Mid-level professionals have 2-5 years of experience working on AI and ML projects. They possess domain expertise and technical skills to make independent decisions related to data, models, and infrastructure.
Some mid-level AI job profiles and corresponding salaries are:
- Senior Data Scientist: $148,000
- Lead Machine Learning Engineer: $140,000
- AI Product Manager: $135,000
- Analytics Engineer: $130,000
- AI Cloud Architect: $125,000
Salaries for Senior-Level AI Experts
Senior-level refers to highly experienced professionals with over 5 years of specialized experience in artificial intelligence and allied fields. They provide strategic guidance, make critical technology decisions, and lead teams working on AI initiatives.
Some top senior AI positions and typical salaries are:
- Head of AI: $240,000
- Principal Data Scientist: $220,000
- Director (AI Engineering): $210,000
- Lead AI Strategist: $200,000
- Machine Learning Architect: $190,000
Top 4 AI Job Profiles and Salaries
Now let’s discuss the top 4 in-demand AI job roles and their salary estimates in detail:
1. Machine Learning Engineer Average Salary: $107,635 per year
A machine learning engineer develops self-running software by applying AI algorithms. They are involved in activities like data exploration, model building, optimization, and deployment.
2. Data Scientist Average Salary: $97,546 per year
A data scientist leverages statistical and ML techniques to extract insights from data. They ideate solutions, communicate results, and guide business decisions using data.
3. AI Research Scientist Average Salary: $82,803 per year
An AI research scientist designs innovative models and algorithms to advance the field of AI. They publish papers, obtain patents, and speak at conferences.
4. Business Intelligence Developer Average Salary: $98,816 per year
A business intelligence developer builds custom BI solutions like dashboards, reports, and analytics tools to derive relevant company insights.
Conclusion
The artificial intelligence industry is poised for tremendous growth in the coming years, leading to a substantial increase in artificial intelligence engineer salary. Consequently, skilled AI professionals are in great demand across sectors. With the right skill set and strategy, AI engineers can expect to earn very high salaries in 2024 and beyond.
FAQs
1. What is the average artificial intelligence engineer salary for entry-level?
The average entry-level AI salary in the US is approximately $115,000 per year. With additional benefits, it can range from $130,000 to $150,000 annually.
2. How much is a senior artificial intelligence engineer salary in the US?
The average artificial intelligence salary for senior AI engineering roles in the US is $205,000 per year. With stocks and bonuses, it can go up to $250,000 per year.
3. Which companies pay the highest for AI jobs?
Top technology companies like Google, Facebook, Apple, Amazon, and Microsoft pay the best average salaries for artificial intelligence engineers in the range of $200,000 to $260,000 per year.
4. What is the future scope of artificial intelligence jobs?
Increased adoption of AI across industries is expected to create abundant job opportunities with lucrative salaries for qualified AI professionals.
5. How can I increase my Salary as an AI professional?
You can boost AI salaries by gaining more work experience, upgrading skills, earning advanced degrees, switching jobs, taking leadership roles, and negotiating pay packages.
