Machine Learning Engineer Salary in 2024

Salary details

The average Machine Learning Engineer salary lies between USD 145,000 and USD 246,000 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: Dec. 15, 2024

Salary trend

Top 20 Job Tags for Machine Learning Engineer roles

The three most common job tag items assiciated with Machine Learning Engineer job listings are Machine Learning, Python and Engineering. 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:

Machine Learning | 6270 jobs Python | 4640 jobs Engineering | 4513 jobs Computer Science | 3626 jobs ML models | 3259 jobs PyTorch | 2983 jobs TensorFlow | 2749 jobs Research | 2485 jobs Pipelines | 2360 jobs Deep Learning | 2338 jobs NLP | 2109 jobs AWS | 2060 jobs LLMs | 1954 jobs Statistics | 1936 jobs Architecture | 1746 jobs Testing | 1537 jobs Spark | 1377 jobs SQL | 1362 jobs PhD | 1324 jobs Mathematics | 1315 jobs

Top 20 Job Perks/Benefits for Machine Learning Engineer roles

The three most common job benefits and perks assiciated with Machine Learning 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 | 5401 jobs Health care | 2907 jobs Equity / stock options | 2390 jobs Flex hours | 1714 jobs Flex vacation | 1632 jobs Startup environment | 1555 jobs Parental leave | 1422 jobs Competitive pay | 1403 jobs Salary bonus | 1376 jobs Medical leave | 1340 jobs Insurance | 1313 jobs Team events | 1085 jobs 401(k) matching | 904 jobs Conferences | 699 jobs Flexible spending account | 599 jobs Wellness | 585 jobs Home office stipend | 447 jobs Transparency | 302 jobs Relocation support | 291 jobs Unlimited paid time off | 188 jobs

Salary Composition for Machine Learning Engineers

The salary for a Machine Learning Engineer typically comprises a base salary, performance bonuses, and additional remuneration such as stock options or equity, especially in tech companies. The composition can vary significantly based on the region, industry, and company size. In tech hubs like Silicon Valley, the base salary might be higher, but the cost of living is also elevated. In contrast, regions with a lower cost of living might offer a smaller base salary but compensate with substantial bonuses or stock options.

In large tech companies, the base salary might constitute 60-70% of the total compensation, with bonuses and stock options making up the rest. In smaller startups, equity might play a more significant role, sometimes even surpassing the base salary in potential value. Industries like finance or healthcare might offer higher bonuses compared to academia or non-profits, where the base salary is more stable but additional remuneration is limited.

Steps to Increase Salary

To increase your salary from a Machine Learning Engineer position, consider the following strategies:

• Specialize in High-Demand Areas: Focus on niche areas within AI/ML, such as deep learning, natural language processing, or computer vision, which are in high demand and can command higher salaries.
• Pursue Leadership Roles: Transitioning into roles like Lead Machine Learning Engineer or AI Team Manager can significantly boost your salary.
• Continuous Learning and Upskilling: Stay updated with the latest technologies and methodologies in AI/ML. Advanced courses or certifications can make you more valuable.
• Negotiate Effectively: When changing jobs or during performance reviews, negotiate for higher pay based on your contributions and market research.
• Network and Build a Personal Brand: Engage with the AI/ML community through conferences, publications, or online platforms to increase your visibility and opportunities.

Educational Requirements

Most Machine Learning Engineer positions require at least a bachelor's degree in computer science, mathematics, statistics, or a related field. However, a master's degree or Ph.D. is often preferred, especially for roles involving research or advanced algorithm development. These advanced degrees provide a deeper understanding of machine learning theories and practices, which can be crucial for tackling complex problems.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile:

• Google Professional Machine Learning Engineer: Validates your ability to design, build, and productionize ML models.
• AWS Certified Machine Learning – Specialty: Demonstrates expertise in using AWS services for machine learning.
• Microsoft Certified: Azure AI Engineer Associate: Focuses on using Azure services for AI solutions.
• TensorFlow Developer Certificate: Shows proficiency in using TensorFlow for building ML models.

These certifications can provide a competitive edge and demonstrate your commitment to the field.

Experience Requirements

Typically, employers look for candidates with 2-5 years of experience in machine learning or related fields. This experience should include hands-on work with machine learning models, data analysis, and software development. Experience with specific tools and frameworks like TensorFlow, PyTorch, or scikit-learn is often required. Additionally, experience in deploying models to production and working in cross-functional teams is highly valued.

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