Average Salary of AI Engineer in 2024
Artificial Intelligence (AI) is transforming industries worldwide, making it one of today’s most exciting and in-demand fields. As demand surges for skilled professionals who can harness the power of AI, AI engineers have become essential to driving this technological progress.
AI engineers design, develop, and implement AI solutions, ranging from machine learning algorithms to sophisticated data analytics. Their work enables organizations to automate processes, make informed decisions, and gain a competitive edge.
In this comprehensive guide, we will explore the current career landscape for AI engineers in 2024. We will also highlight the various factors that influence the average AI engineer’s salary, including experience, location, and specific skills.
By clearly understanding the complex market dynamics and the growing demand for specialized AI expertise, you will be able to answer critical questions such as ‘How much do engineers make?’ and ‘Do ML engineers make more than software engineers?’.
What Is An Average AI Engineer’s Salary?
The average AI engineering salary in 2024 can fluctuate widely, depending on key factors such as the number of years of experience, location, skill set, company size, and industry. However, due to the specialized nature of this industry, AI engineers are generally well-compensated, reflecting the high demand for their expertise and the lucrative opportunities available.
While the exact figures can vary, recent studies have shown that the annual salary for an AI engineer in the United States can range from $100,678 to $255,109, with the average AI engineer salary calculated as $160,262. This amount may be higher for AI engineers at senior-level positions or those working in large-scale tech companies.
However, it’s important to note that these are average figures- actual salaries may be higher or lower depending on specific circumstances such as cost of living, available organizational budget, and your unique skills and experience.
Job Outlook For AI Engineers
The job outlook for skilled AI engineers is promising, with demand expected to remain high over the next decade. As AI continues to cause transformative impact across numerous industries, the demand for professionals who can build, develop, implement, and manage intelligent systems is increasing faster than ever before.
This rapid growth is driven by the increasing integration of AI tools across different sectors, including finance, healthcare, entertainment, and more. This has consequently led to the need for advanced process automation, predictive analytics, customer personalization, and more. The rise of emerging and advanced technology like generative AI, autonomous systems, machine learning, and natural language processing (NLP) is also fueling demand for AI engineers.
Modern organizations are now eager to hire engineers who can help drive innovation and streamline operational processes. This trend is reflected not only by the high average salary but also by the growing number of job opportunities in this field.
AI Engineer Salaries By Experience
The average artificial intelligence engineer salary can vary based on your number of years of experience. As you continue to gain expertise, take on more responsibilities, and build a proven track record, your compensation is likely to increase.
Here’s a breakdown of how experience can impact AI engineer salaries:
- Entry-Level AI Engineers
Recent graduates or professionals with less than two years of experience are likely to explore entry-level positions. These roles typically focus on foundational responsibilities such as data preparation, basic model training, and algorithm testing. Entry-level AI engineers with strong technical backgrounds or relevant industry certifications may earn higher salaries.
- Mid-Level AI Engineers
Mid-level AI engineers (professionals with approximately 3-5 years of experience) often earn higher salaries as they usually have more complex responsibilities. This includes building and optimizing machine learning models, establishing neural networks, and contributing to AI-centric product development.
At this stage, AI engineers are typically expected to have a strong understanding of AI concepts, expertise in tools like TensorFlow, PyTorch, or Keras, and the ability to work independently.
- Senior-Level AI Engineers
Senior-level AI engineers with 5+ years of experience and a proven track record of leading AI projects and specialized expertise can command high-range salaries.
The primary responsibilities of a senior-level AI engineer include developing complex AI solutions, leading projects, mentoring team members, and making strategic decisions about the usage, implementation, and optimization of AI tools across organizations.
AI Engineer Salaries By Location
Salaries for AI engineers can vary greatly depending on the city or location in which you choose to work. Here’s a breakdown of how location can impact AI engineer salaries:
- Tech Hubs
Cities like Silicon Valley, New York, and Seattle are well known for their high concentration of tech companies, many of which are leading advancements in the AI industry. They also have relatively higher costs of living.
Therefore, AI engineers working in these cities can usually expect to earn 20-30% higher salaries than the national average.
- Emerging Tech Centers
Emerging tech hubs like Austin or Toronto are quickly emerging as thriving tech hubs and ecosystems, attracting startups, established companies, and skilled AI talent.
These locations are now offering competitive salaries that are generally 10-20% above the national average. These emerging centers now have exciting and lucrative career opportunities as they continue to attract investment and talent.
- Regional Variations
Salaries for AI engineers can vary significantly per region, even within the same country. Larger metropolitan areas like Los Angeles and Boston have higher costs of living and, therefore, offer higher compensation than smaller cities.
Find Your Dream Job With VeriiPro:
The field of AI engineering offers exciting and lucrative opportunities in terms of career growth and earning potential. Salaries for AI engineers have continued to increase significantly over the past few years, driven by increasing demand for skilled AI talent across industries, technological advancements, and the expansion of tech hubs across the world.
Are you an aspiring AI engineer searching for exciting career opportunities and competitive salaries? VeriiPro can help! We connect top employers with professionals to streamline job searches. With a wide range of job listings, we will help you find the perfect position that best aligns with your experience, desired salary, and career aspirations. Get hired today!
