Manager Salary in 2024

Salary details

The average Manager salary lies between USD 115,000 and USD 201,825 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

Top 20 Job Tags for Manager roles

The three most common job tag items assiciated with Manager 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 | 8102 jobs Python | 6406 jobs Machine Learning | 5994 jobs SQL | 5490 jobs Computer Science | 5004 jobs Research | 4341 jobs Statistics | 4097 jobs Agile | 3159 jobs Architecture | 3157 jobs Data management | 3042 jobs R | 3033 jobs Security | 2953 jobs Testing | 2852 jobs Data Analytics | 2791 jobs Data analysis | 2576 jobs AWS | 2501 jobs Mathematics | 2450 jobs Privacy | 2433 jobs Excel | 2398 jobs Tableau | 2339 jobs

Top 20 Job Perks/Benefits for Manager roles

The three most common job benefits and perks assiciated with Manager 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 | 9841 jobs Health care | 5585 jobs Equity / stock options | 3629 jobs Flex hours | 3622 jobs Startup environment | 3376 jobs Competitive pay | 3059 jobs Team events | 2809 jobs Salary bonus | 2611 jobs Insurance | 2289 jobs Flex vacation | 2224 jobs Medical leave | 2090 jobs Parental leave | 2063 jobs Wellness | 1454 jobs 401(k) matching | 1215 jobs Transparency | 681 jobs Home office stipend | 560 jobs Relocation support | 506 jobs Conferences | 490 jobs Unlimited paid time off | 413 jobs Flexible spending account | 404 jobs

Salary Composition

The salary for an AI/ML/Data Science Manager typically comprises a base salary, performance bonuses, and additional remuneration such as stock options or equity, especially in tech companies. The base salary is often the largest component, accounting for 70-80% of the total compensation package. Bonuses can vary significantly based on company performance and individual achievements, ranging from 10-20% of the base salary. Additional remuneration, such as stock options, is more common in larger tech firms and startups, where it can form a significant part of the total compensation, sometimes up to 20-30%. Regional differences also play a role; for instance, salaries in tech hubs like Silicon Valley or New York City tend to be higher due to the cost of living and competitive job market. Industry-wise, tech companies generally offer higher compensation compared to sectors like finance or healthcare, although these industries are increasingly investing in AI/ML capabilities.

Increasing Salary

To increase your salary from this position, consider pursuing further specialization or leadership roles. Transitioning to a Director or VP of Data Science/AI can significantly boost your earnings. Additionally, expanding your skill set to include expertise in emerging technologies such as deep learning, natural language processing, or AI ethics can make you more valuable. Networking within industry circles and attending conferences can also open up opportunities for higher-paying roles. Another strategy is to move to a larger company or a more lucrative industry, where the scale and impact of AI/ML projects are greater, thus justifying higher compensation.

Educational Requirements

Most AI/ML/Data Science Manager positions require at least a bachelor's degree in a related field such as computer science, data science, statistics, or engineering. However, a master's degree or Ph.D. is often preferred, especially in larger companies or for more senior roles. Advanced degrees provide a deeper understanding of complex algorithms and data analysis techniques, which are crucial for leading AI/ML projects. Additionally, business acumen is important, so courses or degrees in business administration can be beneficial.

Helpful Certifications

Certifications can enhance your credentials and demonstrate your commitment to the field. Some valuable certifications include:

• Certified Analytics Professional (CAP): Validates your ability to transform data into valuable insights.
• Google Professional Machine Learning Engineer: Focuses on designing, building, and productionizing ML models.
• AWS Certified Machine Learning – Specialty: Demonstrates expertise in building, training, tuning, and deploying ML models on AWS.
• Microsoft Certified: Azure AI Engineer Associate: Covers AI solutions on Microsoft Azure.

These certifications can help differentiate you from other candidates and may lead to better job opportunities and salary prospects.

Required Experience

Typically, a minimum of 5-7 years of experience in data science, machine learning, or a related field is required for a managerial role. This experience should include hands-on work with data analysis, model development, and deployment. Leadership experience is also crucial, as the role involves managing teams and projects. Experience in a specific industry can be advantageous, as it provides domain knowledge that can be critical for understanding and solving industry-specific challenges.

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