AI Software Engineer Salary – Here’s What You Can Get Paid!

PricewaterhouseCoopers’ Global Study suggests artificial intelligence (AI) may spend around 15.7 trillion USD on the global economy by 2030, more than China and India’s total GDP. Today, businesses deploy AI to increase efficiency and revenues.

AI engineers contribute to rethinking how we employ machine learning (ML) algorithms, models, and tools to power our products, services, and global systems. They can easily earn a six-figure wage because this sort of work necessitates a high level of technological competence.

In this blog, let’s examine the statistics to understand more about AI software engineer salaries and how rising demand, location, and experience affect salary. So, let’s get rolling!

But first, Who is an AI Software Engineer?

AI Software Engineers construct AI-based systems and applications using Machine Learning and Artificial Intelligence techniques such as Neural Networks and Natural Language Processing. Data science is an essential component of AI engineers’ work duties.

An AI Software Engineer’s jobs include data creation, AI coding, algorithm design, data analytics & more. Once the data has been prepared, building ML-based models is a crucial task component. One of the most essential AI technologies is machine learning. As an AI Software Engineer, you will be responsible for the following duties:

• Massive development of Machine Learning algorithms and prediction models in response to corporate needs.
• Conduct machine learning experiments and testing.
• To integrate the AI methods & collaborate with other teams such as data management, information security, electrical engineering, etc.
• Collect, regulate & assess vast amounts of information for further planning and present programming initiatives.
• Conduct statistical analysis for attaining choices on commercial and financial matters inside their firm.
• Create bespoke AI/ML model-based applications for their organization (or customer if freelancing).
• Be the go-to expert on AI, providing straightforward answers to coworkers & clients.
• Keep up with technical advancements in the AI-oriented business.

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Common Skills needed for an AI Software Engineer:

Getting an AI software engineer job requires specific skills, such as

• Analytical ability – Analytical skills, which reflect your ability to evaluate and comprehend volumes of data, are the most crucial set of talents you may have while becoming an AI engineer. AI engineers employ analytical abilities when analyzing data sets, developing AI models & drawing scientific findings.
• Organization – As with most jobs, AI engineers might benefit from being organized while working on many projects simultaneously. Being an AI engineer, it’s vital to be organized to prevent misusing data while building models/ apps.
• Programming skills – Being familiar with multiple programming concepts & methods is also necessary. Although AI engineers seldom write code, they use it when designing, testing, and deploying AI applications.
• Critical thinking – Such abilities may help aspirants in different vocations succeed, but they are especially vital for artificial intelligence developers. They employ critical thinking if needed to diagnose or rethink aspects of a machine or app, which typically requires a speedy turnaround and little outside help.

How Much Does an Artificial Intelligence (AI) Engineer Earn On Average?

The average AI Software Engineer salary annually in the United States is $247,200. According to the US Bureau of Labor Statistics, AI software developers may make a median yearly income of $136,620. According to Glassdoor, the median base compensation for an Artificial Intelligence engineer in the United States is $108,043 annually.

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While the compensation range for AI software engineers varies, these statistics are much more than the national average yearly salary for all jobs, which is $58,260.

However, as the salary data by levels.FYI specifies that there is a significant disparity in remuneration between software engineers who specialize in artificial intelligence (AI) and those who do not. In particular, entry-level AI Engineers earn 8.13% more than non-AI peers in the same firm and rank.

The pay disparity is considerably higher at the top tier: AI Engineers earn 10.11% more compared to their non-AI counterparts at the 2nd level engineer & 12.5% more at the Senior level.

Surprisingly, the pay discrepancy is slightly lower at the Staff Engineer level, with AI Engineers earning 9.92% more than non-AI Engineers.

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How Does The AI Software Engineer’s Salary Vary?

AI software engineers are expected to see 23 percent job growth between 2022 and 2032, substantially more massive than the average for all occupations (5 percent). AI engineers often work with businesses, assisting them in improving their goods, software, operations, and delivery. They are found in technology, finance, healthcare, and consulting.

LinkedIn’s 2020 Emerging Jobs Report shows that hiring for artificial intelligence specialists, including engineers, has increased by 74% each year over the last four years. Several factors can affect how much money you make as an AI developer. Let’s examine how your experience, industry, and location influence your earning potential.

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• By Experience

Your level of experience is a vital aspect that can affect your income. It makes sense—the more experience you have as an AI developer, the more competence you will have and the more money you can expect to earn.

According to Glassdoor, here’s how experience affects your AI software engineer salary:

• $124K – $207K /yr for 2 to 4 years (AI Engineer or Senior AI Engineer).
• $140K – $199K /yr (Lead AI Engineer): 5 to 7 years
• $175K – $257K /yr (Principal Machine Learning Engineer): 8+ years
• $186K – $301K /yr (Director of Machine Learning): 8+ years
• $222K – $381K /yr after 8 years (Vice President of Machine Learning)

Taking on leadership positions in ML or AI, such as director or vice president, can increase your income by tens of thousands of dollars. However, if you focus on your expertise rather than team management, you may earn more by transferring businesses or negotiating a better wage by demonstrating your worth.

💡Ready to immerse yourself in the world of AI? Explore entry-level AI jobs and senior AI roles to kickstart or advance your career journey! 🚀

• By Industry

AI engineers are not required in every area, but AI engineer wages can vary greatly in those that do, such as technology, finance, health care, and retail. Salary ranges often represent the individual sectors. For example, technology and financial organizations tend to pay well. Therefore, AI experts in these fields will earn more than the average salary.

• By Location

Where you are located can also influence your AI software engineer salary. Working for corporations headquartered in major cities such as New York, San Francisco, Washington, DC, Boston, and Chicago generally equates to higher pay. It is because the cost of living in certain places is greater.

Employers can give location-based wages as they continue to employ a geographically distributed workforce that includes remote workers. However, location-based pay might be deemed unjust because these payments must also account for merit and experience.

The locations listed below have the greatest median salary (including stock options and incentives).

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• By Company

It’s no secret that AI abilities are in high demand, and corporations are prepared to pay more for them. This tendency can be observed in firms like Cruise, Amazon, Adobe, Facebook, and Apple. The figure below compares Senior Software Engineers at different firms.

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Netflix is establishing the industry standard for compensation by paying the highest base salary for AI-focused Software Engineers.

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It is just one example of the increasing demand for AI expertise mirrored in the moderate but consistent growth in median remuneration for AI-focused Software Engineers. The median AI software engineer salary in March 2023 was $270,000.

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However, it is far from over as the AI arms race heats up and businesses like OpenAI, Microsoft, and Google continue to make strides.

How Can You Get A Higher AI Software Engineering Salary?

Imagine you’re an AI engineer with a few years of experience. You can do various things to boost your employee’s worth and negotiate greater pay. Here are a few ideas to help you increase your earning potential:

1. Get A Master’s Degree:

While a master’s degree is not required to secure an AI engineer post (or work your way up to one), around 17 percent of AI engineers or experts have one. In comparison, 63 percent hold a bachelor’s degree.

Because you’ll have a credible certificate and knowledge to back up your professional experience, a master’s degree can help you negotiate a better AI software engineer salary.

1. Increase Your Technical Skills:

There is always more to learn in AI and machine learning. Maintaining technical skills, particularly current tools and systems, and growing your repertoire of algorithm and modeling approaches might help you earn more. Drilling down into a certain industry might also help you earn more money.

1. Gain More Experience:

Gaining experience is an excellent strategy to increase your compensation. You can achieve this by participating in open-source community and personal projects, attending artificial intelligence classes, doing freelance work, or working on other initiatives at your firm.

1. Negotiate better salaries:

One of job searchers’ most common mistakes is failing to negotiate or negotiate their full earning potential. According to Forbes, 70% of managers expect discussion when making a job offer but do not specify that it is flexible. If you do not bargain, the salary difference will grow, preventing you from realizing your full earning potential.

1. Build Your Network

AI software engineering is a profitable career path; you will work with many accomplished and well-paid individuals. Connect with these folks on networks like LinkedIn to expand your tech industry expertise and network.

Wrapping Up

Unlike most other areas, the AI of the future will differ from the AI of today. It is growing at a breakneck pace, and you should continuously improve your Artificial Intelligence (AI) abilities to ensure they are relevant to current industry demands.

But where can you find jobs as an AI software engineer? Easy, with Ai Careers!

With Ai Careers, you gain relevant experience in the tech industry and digitally network with other engineers in the field, opening the door to a vast range of remote employment opportunities.

So, why wait?

If you want to move closer to these rich incomes, refine your AI abilities with a world-class AI education, and you’ll be standing in the world of AI software engineers before you know it!