Manager Salary in 2024

Salary details

The average Manager salary lies between USD 115,000 and USD 205,000 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

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 | 7140 jobs Python | 5625 jobs Machine Learning | 5288 jobs SQL | 4875 jobs Computer Science | 4441 jobs Research | 3864 jobs Statistics | 3639 jobs Agile | 2778 jobs Architecture | 2769 jobs Data management | 2683 jobs R | 2676 jobs Security | 2592 jobs Testing | 2475 jobs Data Analytics | 2471 jobs Data analysis | 2284 jobs AWS | 2229 jobs Mathematics | 2202 jobs Excel | 2158 jobs Privacy | 2149 jobs Tableau | 2071 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 | 8706 jobs Health care | 5015 jobs Equity / stock options | 3247 jobs Flex hours | 3243 jobs Startup environment | 3027 jobs Competitive pay | 2723 jobs Team events | 2483 jobs Salary bonus | 2317 jobs Insurance | 2051 jobs Flex vacation | 2007 jobs Medical leave | 1846 jobs Parental leave | 1823 jobs Wellness | 1295 jobs 401(k) matching | 1094 jobs Transparency | 589 jobs Home office stipend | 498 jobs Relocation support | 452 jobs Conferences | 441 jobs Unlimited paid time off | 382 jobs Flexible spending account | 364 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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