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: Nov. 17, 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 | 5324 jobs Python | 4193 jobs Engineering | 3960 jobs Computer Science | 3304 jobs ML models | 2861 jobs PyTorch | 2727 jobs TensorFlow | 2521 jobs Research | 2136 jobs Deep Learning | 2133 jobs Pipelines | 2072 jobs AWS | 1878 jobs NLP | 1817 jobs Statistics | 1717 jobs LLMs | 1673 jobs Architecture | 1568 jobs Testing | 1370 jobs Spark | 1273 jobs SQL | 1231 jobs Mathematics | 1184 jobs PhD | 1148 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 | 4643 jobs Health care | 2683 jobs Equity / stock options | 2199 jobs Flex hours | 1593 jobs Flex vacation | 1565 jobs Startup environment | 1389 jobs Parental leave | 1341 jobs Competitive pay | 1301 jobs Salary bonus | 1285 jobs Medical leave | 1257 jobs Insurance | 1217 jobs Team events | 954 jobs 401(k) matching | 865 jobs Conferences | 648 jobs Flexible spending account | 592 jobs Wellness | 537 jobs Home office stipend | 430 jobs Transparency | 290 jobs Relocation support | 244 jobs Unlimited paid time off | 172 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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