With the rise of AI technology, machine learning is a fast-growing industry, offering excellent job prospects and high salaries. You can find a variety of jobs in the field of machine learning, from data scientists to deep learning engineers. Here’s what you can expect in this area:
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Machine learning experts can earn competitive salaries, while data scientists can earn higher salaries. Average annual income of $129,516, deep learning engineer average income of $159,201 [4,5].
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The field is growing. According to the U.S. Bureau of Labor Statistics, the number of data scientist jobs is expected to increase by 34% between 2024 and 2034. [11].
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Many jobs use machine learning, including data scientists, machine learning engineers, and natural language programming engineers.
In this article, you will learn about the different machine learning roles, their salaries, and how to earn a high income in this field. Then, if you want to start building your machine learning skills, consider enrolling in Stanford University and DeepLearning.AI’s Machine Learning Specialization.
What is machine learning?
Machine learning is part of the field of artificial intelligence (AI) that manipulates data to develop systems and algorithms that mimic human thinking, learning, and behavior. Advances in machine learning have enabled machines to recognize visuals and understand text, allowing them to form actions just as humans do when solving problems.
Technologies that use machine learning include chatbots, app recommendations like Netflix and Amazon, and even self-driving cars.
Machine Learning Salary: Are Machine Learning Salaries High?
Machine learning salaries vary depending on the role you work in. Studying machine learning at university or earning a qualification can lead to a variety of high-paying positions. Even entry-level jobs can earn higher-than-average salaries, with roles such as Junior Data Scientist earning an average annual salary of $50,000. $76,971 [1].
As you advance in your machine learning career, you can expect even higher salaries. For example, the average salary for a senior deep learning engineer is $211,304 per year [2]. Salaries vary based on your education level, experience, and skill range, as well as the industry you work in and the company you employ.
Considering the wide range of machine learning roles and numerous job titles, it is impossible to list the average machine learning salary. Instead, it makes more sense to break it down by role. Below are various machine learning-based roles and their expected salaries.
1. Machine learning engineer salary and job description
Average annual salary in the US (Glassdoor): $123,333 [3]
Requirements: Bachelor’s degree in computer science, software engineering, information technology, etc.
Machine learning engineers build systems and algorithms that use data to predict and automate next steps, helping software learn and become more accurate over time. Machine learning engineers work in a variety of industries, including healthcare, manufacturing, marketing, advertising, transportation, and finance.
2. Data scientist salary and job description
Average annual salary in the US (Glassdoor): $129,516 [4]
Requirements: Bachelor’s degree in computer science, information technology, statistics, or similar field
Data scientists use data to help businesses make important decisions. In this role, you analyze and build models and systems to group, interpret, and predict data and solve problems. Data scientists use machine learning and AI to develop these systems and models and automate the steps.
3. Deep learning engineer salary and job description
Average annual salary in the US (Glassdoor): $159,201 [5]
Requirements: Bachelor’s degree in computer science, electrical engineering, computer engineering, etc.
Deep learning is a specific branch of machine learning that focuses on the neural pathways that machines use to learn and improve tasks, similar to human functions. Deep learning engineers work on the software and models to develop these pathways, creating practical innovations like Apple’s Siri and Amazon’s Alexa that get smarter the more you use them.
4. Natural Language Processing (NLP) Engineer Salary and Job Description
Average annual salary in the US (Glassdoor): $123,433 [6]
Requirements: Bachelor’s degree in computer science, data science, engineering, or similar, or an associate’s degree with related experience and additional relevant learning.
Natural language processing (NLP) is a subset of machine learning that is concerned with how computer systems understand human language. An example is how Siri or Alexa understands what you say when you ask a question. NLP engineers develop systems that convert voice commands and text into something that computer systems can understand.
5. Computer vision engineer salary and job description
Average annual salary in the US (Glassdoor): $125,838 [7]
Requirements: Bachelor’s degree in computer science or related field with programming skills
Computer vision engineers build systems that help computers understand visual data and recognize and classify images. In this role, you will build systems using AI and machine learning technology to help computers detect and tell the difference between photos, videos, and other visual data.
Machine learning job outlook
Professionals with machine learning skills are in high demand across all professions. According to the World Economic Forum, the number of AI and machine learning specialists is expected to grow by 40% between 2023 and 2027, creating around 1 million new jobs. [8]. The U.S. Bureau of Labor Statistics (BLS) projects job growth of 26% from 2023 to 2033, with a particular focus on computer and information researchers. [9]This is much faster than the 4% average for all jobs in the United States.
How to increase your machine learning salary
Machine learning is a skilled industry with great talent, so salaries are generally high. To help you stand out and land the highest paying job, discover some of the steps outlined below.
Studying for a degree
For machine learning roles, a bachelor’s degree in a related major such as computer science, engineering, or data science is usually the minimum entry requirement. You can continue your studies to a master’s degree or even study for a doctorate. According to Salary.com, machine learning engineer salaries increase with education level [10]:
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Bachelor’s degree: $126,144–$132,883
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master’s degree: $127,037–$133,843
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PhD: $127,394–$134,227
gain experience
Experience is very important when it comes to earning money because the more you learn and prove yourself in the industry, the more opportunities for advancement you will have. You can find opportunities to move into more senior positions or take on leadership roles to increase your machine learning salary. Glassdoor lists the following salaries for NLP Learning Engineers based on years of experience: [7]:
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0-1 years old: $131,000
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1-3 years: $146,000
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4-6 years old: $161,000
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7-9 years old: $174,000
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Ages 10-14: $203,000
Highly profitable companies in the machine learning field
Who you work for will affect the salary you receive. When looking at NLP engineer roles, Glassdoor lists the following companies as having the highest average compensation, including base salary and additional benefits. [7]:
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Google: $257,000 – $388,000
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apple: $216,000 – $323,000
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Amazon: $195,000 – $272,000
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adobe: $170,000 – $233,000
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door dash: $260,000 – $383,000
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