Annual AI Jobs Salary Report (2024): Overviews with Expert Advice – eWeek

eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

Artificial intelligence job salaries are growing in parallel with the technology’s adoption into nearly every sector of industry. As AI continues to gain momentum, the demand for skilled professionals will only grow, making AI careers both intellectually fulfilling and financially rewarding.

Expertise is valued, but it’s also difficult to find, and professionals with the right skills and experience have the most opportunities available to them. For our AI jobs salary guide, we analyzed a wide range of AI roles and the average compensation they command to help you better understand the job market in this exciting field.

AI Jobs Salaries: Comparison Chart

We sourced AI jobs salary data for a range of common roles from Glassdoor, a reputable platform for job-seekers and professionals to access salary insights and company reviews. Keep in mind that actual salaries may vary slightly based on a variety of factors, including the size of the company—startup, small business, or large enterprise, for example—and its financial standing.

While the artificial intelligence salary ranges listed here represent typical compensation levels for AI roles based on industry standards, individual offers may also vary based on negotiation, location, specific job responsibilities, and other factors.

AI Salary Studies and Trends

Recent studies and reports have shed light on the growing impact of AI skills on salaries and career trajectories. These trends point to the increasing value that employers place on AI expertise and the competitive edge it provides for job seekers.

• Higher Skills, Higher Wages: An Amazon Web Services (AWS) and Access Partnership study found that employers are willing to pay higher wages to employees with AI skills and expertise. This data supports the increasing value placed on AI proficiency in the job market, underscoring a competitive edge for candidates with these specialized skills.
• Specialized Knowledge Beats Experience: Microsoft and LinkedIn’s 2024 Work Trend Annual Report showed that 71 percent of leaders would hire a less-experienced candidate with AI skills over a more-experienced one without them. This statistic emphasizes the growing importance of AI skills in recruitment and career advancement, positioning AI knowledge as a notable asset in today’s competitive workforce.
• AI Expertise Demands Premium Wages: Additionally, research conducted by the Oxford Internet Institute and Center for Social Data Science at the University of Copenhagen indicates that workers with AI skills command salaries 21 percent higher than average. This salary premium reflects the scarcity of AI talent and the high demand for professionals who can use AI technologies effectively.

AI Jobs and Salaries

As AI continues to transform industries globally, the demand for skilled professionals in this field has skyrocketed. AI jobs offer competitive remuneration, diverse career paths, and the opportunity to mold the future of technology. Compensation for AI-related roles can fluctuate based on various factors, including the specific job title, geographic location, and level of expertise.

Machine Learning Engineer

Machine learning engineers design and implement machine learning algorithms and models to solve specific business problems. Because it already has so many practical applications, machine learning is generally considered to be one of the fastest growing job titles in the AI landscape. Salary increases can come quickly with experience in advanced skills like machine learning frameworks.

AI Engineer

AI engineers develop and deploy AI systems, including machine learning models and deep learning algorithms. They create algorithms, build AI models, and integrate them into applications and products. The amount you earn leans on your level of experience. AI engineers tend to be employed in the technology, finance, healthcare, and consulting industries.

Data Scientist

Data scientists are responsible for collecting, analyzing, and interpreting complex data to inform business decisions and strategies. They utilize statistical techniques and machine learning algorithms to derive insights and solve problems. Data scientists require a solid understanding of programming languages like Python or R, as well as expertise in data manipulation and visualization. Experienced data scientists with advanced degrees or specialized skills are in very high demand.

Computer Vision Engineer

A computer vision engineer specializes in developing algorithms and systems that enable machines to interpret and understand visual information from digital images or videos. They work on tasks such as object detection, image recognition, and video analysis. Computer Vision Engineers often collaborate with software developers and researchers to implement and optimize computer vision solutions for various applications, such as autonomous vehicles, medical imaging, robotics, and augmented reality. Startups and companies focusing on advanced technologies often offer competitive compensation packages with additional perks like stock options.

Natural Language Processing Engineer

Natural language processing (NLP) engineers develop algorithms and models to enable computers to understand, interpret, and generate human language, or a reasonable facsimile of human speech. They work on tasks such as text classification, sentiment analysis, machine translation, and chatbot development. There are already many highly practical applications of NLP, hence the high salary range at the top end.

Deep Learning Engineer

A deep learning engineer is a specialized role within the broader field of artificial intelligence and machine learning. These professionals focus on developing and implementing deep neural networks and other machine learning algorithms to solve complex problems like image recognition, natural language processing, and autonomous driving. Due to their high-demand skill set, deep learning engineers command competitive compensation.

AI Research Scientist

An AI research scientist is at the forefront of developing new algorithms, models, and techniques to advance the field of artificial intelligence. These professionals typically hold advanced degrees in computer science, mathematics, or related fields and are skilled in areas like machine learning, statistics, and data analysis. Because an AI research scientist may do more theoretical work, the pay is not always as high as other AI specialities.

Business Development Manager

The role of a business development manager in AI is crucial for bridging the gap between technical innovation and market growth. These professionals identify business opportunities, forge strategic partnerships, and drive revenue growth for AI products and services. They play a momentous role in scaling AI solutions and driving adoption among customers. Experience level and track record of successful business development initiatives significantly impact compensation.

AI Product Manager

AI product managers oversee the development and deployment of AI-powered products and solutions. They collaborate with cross-functional teams, including engineers, designers, and marketers, to define product roadmaps, prioritize features, and ensure alignment with business objectives. Experience in product management coupled with AI expertise commands a premium in this role.

AI Consultant

AI Consultants provide expert guidance to organizations seeking to leverage AI technologies for business transformation. They assess client needs, design AI solutions, and oversee implementation to deliver tangible outcomes. Salary for AI consultants can vary widely based on consulting firm, experience level, and project scope. Geographic location also influences compensation, with major consulting hubs offering higher salaries.

Expert Insights on AI Job Salaries and Careers

Insights from industry experts highlight the growing importance of AI expertise across industries, emphasizing the need for continuous learning and upskilling, and the potential impact of AI on job roles and compensation.

“The widening pay gap between tech and non-tech roles underscores the influence of AI across industries, suggesting salaries will increasingly revolve around AI expertise,” according to Young Pham, a project manager at BizReport. This showcases how AI skills command higher pay as organizations seek to take advantage of this transformative technology.

Sheila Jordan, SVP and Chief Digital Technology Officer for Honeywell, said her company is taking a proactive approach to AI.

“We’ve made AI training a priority to ensure everyone can use Copilot and other AI solutions,” she said. “We also launched the GenAI Academy to support employee growth and increase AI ambassadors.” Jordan’s insight stresses the significance of ongoing professional development to stay competitive in the AI job market.

The benefits to skills development in this field are clear, even if the future is not. “If your job is affected by AI, your salary might actually increase,” said Sander van’t Noordende, CEO of talent company Randstad. This suggests that as AI automates tasks, the remaining human roles may become more specialized and valuable, leading to higher compensation for those with the skills necessary to work with AI.

How Do I Get Paid More as an AI Professional?

To increase your earning potential and get paid more as an AI professional, a number of strategies to boost your skills and marketability can be effective. Here are some of the more common ones:

• Hone Your AI Skills: Continuously improving and refining your skills is key to increasing your value in the job market. Stay updated with the latest AI trends and technologies in your sector. Take online courses, attend workshops, and actively seek opportunities to deepen your expertise.
• Get a Technical Certification: Obtaining relevant AI certifications can significantly boost your credentials and marketability. Certifications validate your expertise and demonstrate your commitment to professional development.
• Get an Advanced Degree: While not always necessary, having an advanced degree (such as a master’s or MBA) can enhance your earning potential, especially in certain fields like business, healthcare, or technology.
• Build a Portfolio: of Work Showcase your skills and accomplishments through a strong portfolio. This could include projects you’ve worked on, case studies, articles, or designs. A compelling portfolio demonstrates your capabilities and can differentiate you from other candidates when negotiating higher compensation.
• Network with Professionals: Attend industry events, join professional associations, and connect with peers and mentors in your field. Networking can lead to new job opportunities, referrals, and valuable insights into salary trends.
• Negotiate a Higher AI Job Salary: Finally, if you’re offered an AI job, negotiate a higher salary. Research market rates and present your unique skills. Approach discussions confidently and professionally to reach a mutually beneficial outcome.

Bottom Line: The Future for AI Salaries is Bright

AI jobs can be highly lucrative, especially if you have the right skills, experience, and qualifications. Salaries for AI-related roles vary based on job title, location, industry, level of expertise, and labor market demand-supply dynamics—but in all cases, they’re some of the highest across the tech sector. Studies have also shown that workers with AI capabilities can earn substantially more than their counterparts. The increasing demand for AI expertise is driving the overall salary outlook upward, as organizations are willing to invest in top talent, which remains scarce.

To maximize earning potential in AI jobs, you focus on continuous learning, skill development, and staying abreast of industry trends. While many may be afraid that AI will take their jobs, the reality is that AI won’t replace your job—but someone who knows how to work effectively with AI will. Insights from industry experts suggest that upskilling and adapting to the changing landscape may be the key to success.

Read our in-depth guide to generative AI companies to learn more about the top 20 leading vendors in this dynamic, still-emerging field.