Engineer Salary in 2024

Salary details

The average Engineer salary lies between USD 119,628 and USD 212,800 globally. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Jan. 12, 2025

Salary trend

Top 20 Job Tags for Engineer roles

The three most common job tag items assiciated with Engineer job listings are Engineering, Python and Machine Learning. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

Engineering | 48056 jobs Python | 46898 jobs Machine Learning | 34159 jobs Computer Science | 30533 jobs SQL | 26466 jobs Pipelines | 25372 jobs Architecture | 24219 jobs AWS | 23502 jobs Security | 19010 jobs Testing | 17707 jobs Azure | 16699 jobs Java | 15885 jobs Research | 15515 jobs Agile | 15452 jobs Data pipelines | 14861 jobs Spark | 14549 jobs ETL | 14285 jobs GCP | 13114 jobs Big Data | 12941 jobs APIs | 12036 jobs

Top 20 Job Perks/Benefits for Engineer roles

The three most common job benefits and perks assiciated with Engineer job listings are Career development, Health care and Equity / stock options. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 43275 jobs Health care | 23081 jobs Equity / stock options | 17361 jobs Flex hours | 15858 jobs Startup environment | 13802 jobs Competitive pay | 13042 jobs Team events | 10978 jobs Flex vacation | 10912 jobs Salary bonus | 10667 jobs Insurance | 10295 jobs Medical leave | 9956 jobs Parental leave | 9368 jobs 401(k) matching | 5842 jobs Wellness | 5666 jobs Conferences | 3114 jobs Relocation support | 3094 jobs Home office stipend | 2593 jobs Transparency | 2315 jobs Fitness / gym | 2087 jobs Flexible spending account | 2059 jobs

Salary Composition

The salary for an AI/ML/Data Science Engineer typically comprises a base salary, performance bonuses, and additional remuneration such as stock options or equity, especially in tech companies. The base salary is the fixed component and usually forms the largest part of the total compensation package. Performance bonuses can vary significantly depending on the company's success and individual performance, often ranging from 10% to 20% of the base salary. Additional remuneration, like stock options, is more common in larger tech companies or startups and can significantly increase total compensation, especially if the company performs well.

Regional differences also play a role; for instance, salaries in tech hubs like San Francisco or New York are generally higher due to the cost of living and competition for talent. Industry-wise, tech companies, finance, and healthcare tend to offer higher salaries compared to academia or non-profit sectors. Company size can also influence salary composition, with larger companies often providing more comprehensive benefits and bonuses.

Increasing Salary

To increase your salary from this position, consider the following strategies:

• Skill Enhancement: Continuously update your skills in emerging technologies and methodologies in AI/ML. Specializing in niche areas like deep learning, natural language processing, or computer vision can make you more valuable.

• Advanced Education: Pursuing a master's or Ph.D. in a relevant field can open up higher-paying opportunities, especially in research-intensive roles.

• Leadership Roles: Transitioning into managerial or lead roles can significantly boost your salary. This involves developing soft skills like team management, communication, and strategic planning.

• Networking: Building a strong professional network can lead to opportunities in higher-paying companies or roles. Attend industry conferences, workshops, and meetups to connect with peers and leaders in the field.

• Negotiation: Always negotiate your salary and benefits when offered a new position or during performance reviews. Research industry standards to make informed arguments for your worth.

Educational Requirements

Most AI/ML/Data Science Engineer roles require at least a bachelor's degree in computer science, data science, mathematics, statistics, or a related field. However, a master's degree or Ph.D. is often preferred, especially for positions involving complex research or development tasks. These advanced degrees provide a deeper understanding of algorithms, data structures, and statistical models, which are crucial for developing sophisticated AI/ML solutions.

Helpful Certifications

While not always mandatory, certain certifications can enhance your credibility and demonstrate your expertise to potential employers. Some valuable certifications include:

• Certified Machine Learning Professional (CMLP)
• TensorFlow Developer Certificate
• AWS Certified Machine Learning – Specialty
• Microsoft Certified: Azure AI Engineer Associate
• Data Science Council of America (DASCA) Certifications

These certifications can help you stand out in a competitive job market and may lead to better job opportunities and higher salaries.

Required Experience

Typically, employers look for candidates with 3-5 years of experience in AI/ML or data science roles. This experience should include hands-on work with machine learning models, data analysis, and programming languages like Python or R. Experience with big data technologies, cloud platforms, and AI frameworks (such as TensorFlow or PyTorch) is also highly valued. Internships, research projects, or contributions to open-source projects can be beneficial for those with less formal work experience.

Related salaries

Want to contribute?