Savvy tech workers made hay during the pandemic years, with the average salary increasing by almost nine percent between 2019 and 2021, according to salary trends data.
There were many more jobs to go around three years ago, too, with CompTIA reporting an increase of 260,000 tech jobs in 2021. That abundant environment was fueled by Covid-era demand––as Americans stayed home, they moved more and more of their lives to online products and services.
That resulted in what is now known as the Great Resignation, when talented workers spotted an opportunity to move jobs to boost benefits, salary, and career growth. Of course, we know now that this time of plenty didn’t last, with layoffs looming from mid-2022.
CompTIA also reported that 211,000 jobs were eliminated from the tech sector in 2022, and tech salary growth also slowed last year, echoing the gloomy position of many big tech companies. Average annual pay for tech workers in the US dipped to $111,193 compared to $111,348 in 2022.
The decrease is small, but benchmarked against previous growth and, combined with the cost of living crisis many Americans are experiencing, is significant for many.
Lower pay packets aren’t endemic across the tech sector, however. According to the salary trends data report, wages in aerospace and defense companies are up 7.4 percent, and software roles are experiencing a 5.2 percent growth.
If you are wondering how you can power up your paycheck this year, there is one clear winner in the skills race: generative AI.
“Half of the highest-paid skills in tech are AI-specific, which suggests that job seekers with AI skills can stand out in a competitive job market, and potentially earn more than their counterparts,” says hiring platform Indeed in its Workforce Insights Report.
According to Indeed’s data, having Gen AI skills gives you an earning potential of $174,727, or a 47% difference with the skill versus without.
In even better news, there is a whole range of AI-upskilling courses you can take. Google’s AI Essentials is a self-paced course taught by the company’s experts, for example, and no experience is required.
Microsoft also offers an AI course called Azure AI Fundamentals, which starts with the basics and moves through neural networks and deep learning. Adding Python to your repertoire can boost your earning potential, too, and Harvard offers a seven-week Introduction to AI with Python course, where you’ll learn to use machine learning.
You can also explore the emerging world of prompt engineering with this course from OpenAI in collaboration with DeepLearning. ChatGPT Prompt Engineering for Developers will teach you to use API access to leverage LLMs into your applications, plus you’ll build a custom chatbot.
High demand, higher salaries
A recent study from Amazon Web Services identified that while 52 percent of workers identify as having basic or nascent AI fluency, 14 percent consider themselves to have “advanced” fluency in AI.
This cohort can make the biggest salary gains in a hyper-competitive environment where companies such as Meta, OpenAI, and Google’s DeepMind vie for top talent.
Recent reports indicate that Meta pays AI researchers up to $2 million, and OpenAI has even deeper pockets, offering salaries in the $5 million to $10 million range.
If you’d like to boost your AI skills or have already done so and are seeking a new opportunity, then the Interesting Engineering Job Board is a great place to begin.
There are thousands of jobs to choose from, like this Enterprise AI Architect job at Oracle in Broomfield. Here, you’ll work on teams responsible for developing, delivering, and supporting major corporate services and platforms like Oracle.com, Java.com, and my.oracle.com.
CGI has an opening for an Analytics Architect/AI, which is ideal for someone looking to take on a challenging role in delivering complex modern AI and analytic solutions with extensive experience in all aspects of AI, analytics, and data.
Brooksource is seeking a Cognitive AI Engineer in Jacksonville. This role will be pivotal in designing and implementing cutting-edge automation solutions. You’ll also be proficient in programming languages such as Python, R, or Java and able to implement complex AI solutions effectively.
Or, if you’d enjoy a job that’s 80 percent software engineering and 20 percent data science, this AI Engineer role at Vorto in Denver will see you work with Go, TensorFlow, PostgreSQL, and various Google Cloud Platform tools to develop “the brain” of the platform.
