As mentioned, there is a tendency for people, including industry experts, to believe that AI might take hold of most of the human jobs. However, it is not true!
If you are a tech enthusiast, read on this blog ‘Salary of an AI Engineer’ to gain detailed insights into AI Engineer salary based on various factors and decide on your own whether you want to step into this exciting career.
The salary of an AI Engineer depends on various factors, including:
- Job Roles
- Skills and Education
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AI Developer Salary by Experience
AI Engineer Salary varies depending on your years of experience, profile, and skillsets. Thus, a person with 10+ years of experience in the industry is considered as the one who has the core knowledge of the entire AI paradigm. According to a study, an AI Engineer gets a hike of up to 60–80 percent while switching jobs, when compared to other skill areas with an average of 20–30 percent.
Salary inclinations based on expertise:
Entry-level AI Engineer Salary
Entry-level AI Engineers can be categorized into two: freshers who have just graduated from universities or experienced personnel who have recently shifted to Artificial Intelligence. The latter do not have previous working knowledge in the field and are seeking an opportunity for their first break in as an AI Engineer. Their focus is on gaining knowledge and learning concepts; therefore the learning trajectory of these experts is more salutary than others. Moreover, due to high demand, many organizations are picking up AI Engineer Interns as well. Therefore, it is okay to state that the entry-level AI Engineers’ salaryrange is the least among all.
The entry-level AI Engineer salary is approximately ₹600,000 per annum.
Mid-level AI Engineer Salary
Mid-level AI Developers are the standard cluster of people, who are typically the most popular with firms that use cognitive technology. They are more flexible in terms of salaries but mid-level AI Engineer Salary is still high than an entry-level AI Engineer Salary. They hold remarkable skills in the field, mostly they tend to work in the same corporation for many years. This group of people is the most stable yet evolving individuals.
They are equipped with some higher-level skills than those possessed by entry-level AI Engineers, which are mentioned below:
- Computer Vision
- Data Analysis
- Data Modeling
- Deep Learning
- Image Processing
- Natural Language Processing
Most job posting websites enlist the mid-level AI Engineers’ salary when speaking about the median salary of an AI Engineer. So, it can be assumed that their pay scale ranges higher when compared to an entry-level AI Engineer but less when compared to a senior-level AI Engineer’s salary.
As per Expat Investor, an AI Developer with 2–4 years of experience can get an annual salary of ₹1.5–2 million, whereas those with 4–8 years of experience can draw up to ₹2–5 million.
Senior-level AI Engineer Salary
Senior-level AI Engineers’ salary is highest among all, as they are the most skilled and experienced group of people. According to one study, around 4 percent of AI Engineers in India receive a paycheck higher than ₹5,000,000, indicating a massive need for mid-level and senior-level talent. The research also shows that salary trends across various sectors like finance, e-commerce, and healthcare are growing exponentially.
The annual salary of senior-level AI Engineers with 8–15 years of experience ranges between ₹5 million and ₹10 million.
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AI Engineer Salary Vis-à-vis Job Roles
With the flood of open AI job roles, to an extent, companies are struggling to create and expand their units to progress from having individual AI pilots to providing unified and scalable solutions throughout their whole organization. There are numerous AI job roles evolving to address the emerging scientific needs of a company. If you are exploring career opportunities in this growing field, look at the top 5 job roles AI provides.
Machine Learning Engineer
It is regarded as one of the most demanded career choices in the AI field. To become an ML Engineer, one must conceive decent software skills and knowledge of how to apply predictive models and use NLP while working with a huge amount of datasets.
Median Salary: US$121,106
Although robots can automate jobs in various scientific fields like healthcare, space exploitation, security, etc., there is a need for skilled coders/programmers to create these robots. For this role, hiring companies prefer candidates with a bachelor’s degree in the engineering or science field.
Median Salary: US$83,241
A Data Scientist’s job is to collect, analyze, understand, and explain large datasets by using ML and predictive analytics to gain insights. As an aspiring Data Scientist, you must gain expertise in using Big Data platforms and tools. Also, you must know programming languages like Python, SQL, Perl, etc.
Median Salary: US$117,345
A Research Scientist handles reasoning, planning, condensing, and analyzing data using many statistical and logical techniques. Further, you have to make tables and graphs for predictions for business processes. Also, you must have a strong command over various AI disciplines.
Median Salary: US$83,490
Business Intelligence Developer
The demand for BI Developers has soared in recent years.
BI Developers must know how to work with technologies, applications, and practices involved in the collection, integration, and analysis of business information. They help in better decision-making by optimizing the costs involved in business processes. A BI Developer must also have good communication and problem-solving skills.
Median Salary: US$90,430
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Salary of an AI Developer by Geography
The AI Engineer salary varies extensively across the globe. Expat Investor, on its website, has mentioned some of the top countries with evolving companies where you would want to work and live.
The United States: They are keen on senior roles, which offer an average annual salary of US$314,000, due in part to a global talent shortage.
The United Kingdom: According to IT Jobs Watch, advertised roles in AI offer an average of £60,000 a year with 10 percent top positions offering an average of £105,500.
Canada: Specialists with a bit of experience can expect between US$70,000 and US$90,000 a year.
India: The AI Engineer salary in India increases with years of expertise, a 2 to 4-year experienced person can get up to ₹15–2,000,000/year.
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AI Engineer Salary as per Skills and Education
In a general sense, AI isn’t a discipline you’ll be able to teach yourself as several developers do. A survey by Stack Overflow found that 86.7 percent of developers in the world was, in fact, self-taught. However, it is possible with languages like Java, Python, and PHP, not with the cryptic art of AI.
It necessitates advanced degrees in the CS domain, oftentimes a Ph.D. In a report, Paysa observed that 35 percent of AI jobs need a Ph.D. and 26 percent require a master’s degree. The question arises is, why?
AI is a briskly advancing field and once you study it at the Ph.D. level and compete in academic projects, you tend to be innovative, which provides you the expertise you need for the workspace. Therefore, to be a good and in-demand AI Developer, you need ‘loads’ of skills and the right training, not just peripheral knowledge.
Therefore, the degrees that an AI Developer may hold are Ph.D., master’s, or bachelor’s degrees.
Paysa further revealed some statistics related to the number of applicants with a bachelor’s/master’s degree or a Ph.D. Around 81 percent of applicants have a bachelor’s degree whereas 46 percent have a master’s degree, and 20 percent have a Ph.D.
Most companies recruit candidates with a bachelor’s degree for entry-level positions and the leadership positions are presented to candidates with a master’s or doctorate. Majoring in AI is always like a cherry on the cake!
Recruiters also assess knowledge in areas such as:
- Coding and programming: While you can excel at AI engineering with any programming language (Python/R/Java/C++), Python is the most recommended and widely used
- Linear algebra/calculus/statistics/probability
- Graphical modeling
- Cognitive science: It is fostered from different fields and additionally promotes an understanding of analyzing how human brains work
So, clearly, a candidate who has gained a lot of advanced skills would get a high salary (up to ₹5 million per annum or above) when compared to a candidate (up to ₹600K per annum) who only knows how to write code but not to perform data mining, data analysis, creating graphical models, etc.
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Top Companies Hiring AI Engineers
While many companies are taking baby steps toward AI implementation, having started with minute experiments, the real power using AI emerges when these experiments and the technology used in the organizations are fused together.
Recognizing the possible result of involving AI broadly into the advancement of the whole organization—by automating, expediting, and optimizing business processes to get the competitive edge and continue toward the vertical—is the key motto to stay in the competition. Companies in all business sectors are implementing AI for this particular reason and thus are paying huge pay scales to their skilled talents.
Now, which are the companies paying big numbers to AI Developers in the two technology-competitive countries, India and the US?
Let’s have a look at the salaries provided by Indian companies for AI job roles.
According to Analytics Insight, below is the list of the top companies with their range of average salaries offered in India:
- Amazon (New Delhi): ₹500,000–700,000/year
- Accenture (Bengaluru): ₹600,000–800,000/year
- Bosch Group (Bengaluru): ₹400,000–2,400,000/year
- Adobe (Greater Noida): ₹1,200,000–1,400,000/year
- JPMorgan Chase & Co. (Hyderabad): ₹3,000,000–6,000,000/year
TechRepublic has revealed the top 10 highest paying companies for AI Developers in the US, and we have mentioned 5 of them below:
- Uber: US$314,746
- Walmart Labs: US$265,698
- Netflix: US$264,799
- Facebook: US$257,846
- Google: US$236,388
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Where should I start from?
AI Engineer positions require Business Intelligence, logical curiosity, influential management, and communication skills. The top brand/non-brand companies around the world are hunting for talents to help innovate and implement AI practices to speed up decision-making throughout all business processes and gain competitive advantages. They are ready enough to pay a bountiful pay package to employ the best. Thus, ‘AI Engineer’ can be considered as the best job choice of this century, and the best thing that will act as a catalyst to find top jobs in AI is getting certified.
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