How much do AI Engineers Make? Salary Guide 2024

Last Updated : 08 May, 2024

AI engineers are emerging as important future architects. These are influencing how companies function & expand in tech landscape. Experts think their work will help the world’s economy grow by $15.7 trillion by 2030. AI is being used by businesses to increase profitability and efficiency. They play a greater role in advancing technology, thanks to the growing need for AI talents. AI engineering is gaining hype because it is meaningful and demanding. It also offers prospects for promotion and attractive compensation. This means AI engineers have great chances for career growth and can earn a lot of money, especially as we move into 2024.

How-much-do-AI-Engineers-Make-Salary-Guide-2024

AI Engineer Salary Guide

For Tech Enthusiast who want to make a big impact across different industries find AI engineering an exciting career choice. In this article, we’re going to look into how much money AI engineers can earn. Let’s get into the details about the AI Engineers Salary in 2024!

Table of Content

Role of AI – Artificial Intelligence Engineer
What is an Average AI Engineers Salary?
Depending on Experience AI Engineers Salary 2024

Variation of AI Engineer Salary Based on Experience
Variation of AI Engineer Salary Based on Industry
Variation of AI Engineer Salary Based on Location
Variation of AI Engineer Salary Based on Company

Ways to Increase the Pay of an AI Engineer
AI vs. Non-AI Compensation for Engineers
Conclusion

Role of AI – Artificial Intelligence Engineer

Artificial intelligence (AI) engineers are the ones who turn the theoretical concepts of AI into real-world applications. They are basically the bridge between AI research and practical use cases. Here’s a breakdown of their typical responsibilities:

Develop AI solutions: AI engineers design and build AI models using various techniques like machine learning algorithms and deep learning neural networks. These models can be used for tasks like image recognition, natural language processing, or making predictions.
Data, data, everywhere: A core part of their job involves working with data. They clean, analyze, and prepare data to train the AI models and ensure their accuracy. They might also build data pipelines to automate this process.
Building the infrastructure: AI models don’t run by magic. AI engineers design and maintain the infrastructure needed to develop, train and deploy these models. This could involve setting up servers, cloud platforms, and ensuring everything runs smoothly.
Deployment and beyond: Their job doesn’t stop after building the model. They are also involved in deploying the AI models into real-world applications and monitoring their performance. Additionally, they might need to fine-tune the models as needed.

What is an Average AI (Artificial Intelligence) Engineers Salary?

USD: The average salary for AI Engineers in the United States falls somewhere around $108,043 according to Glassdoor.

INR: In India, the average salary range can be broader, typically between ₹4,00,000 to ₹10,15,000 per year. This translates to roughly $4,800 to $12,200 based on the current exchange rate.

Factors that Impacts AI Engineer Salary 2024

Here are the main factors that influence an AI engineer’s salary:

Variation of AI Engineer Salary Based on Experience

This is generally the biggest factor affecting AI engineer salaries. As you gain experience and develop your skillset, you can command a higher salary.

AI Engineer Salary

According to Glassdoor, experience as an AI developer may have the following effects on pay:

$106,894 for two to four years as an AI engineer or senior AI engineer.
$128,396 for five to seven years as a lead AI Engineer.
$145,503 for eight years as the principal AI Engineer.
$172,715 for the vice president of AI Engineer.

Variation of AI Engineer Salary Based on Industry

The industry you work in can also play a role. Typically, high-tech industries like finance, healthcare, and tech giants tend to offer more competitive salaries for AI engineers.

Here’s a breakdown of how AI engineer salaries can vary based on industry (USD and INR figures are approximations):

High-Tech Industries (Finance, Healthcare, Tech Giants): These sectors tend to offer the highest salaries due to the significant value AI brings to their operations. Expect a range of $140,000 – $180,000 (₹112 Lakh – ₹144 Lakh) annually.
Manufacturing & Automotive: As automation and AI integration increase, these industries are also offering competitive salaries. Expect a range of $110,000 – $140,000 (₹88 Lakh – ₹112 Lakh) annually.
Retail & E-commerce: AI plays a growing role in customer experience and product recommendations. Expect a range of $100,000 – $130,000 (₹80 Lakh – ₹104 Lakh) annually.
Media & Entertainment: AI is used for content creation and personalization. Expect a range of $90,000 – $120,000 (₹72 Lakh – ₹96 Lakh) annually.
Non-Profits & Public Sector: While typically offering lower salaries, there’s a growing demand for AI expertise in these sectors. Expect a range of $80,000 – $100,000 (₹64 Lakh – ₹80 Lakh) annually.

Variation of AI Engineer Salary Based on Location

Geographic location can affect your salary. Generally, AI engineers in larger cities and tech hubs tend to earn more than those in smaller regions.

Location Impact on AI Engineer Salary:

High Cost of Living Cities (USD):
- San Francisco, CA: $136,287
- New York, NY: $123,403
- Los Angeles, CA: $113,298
Other Major Cities (USD): (Salary information may vary depending on sources)
- Chicago, IL: $102,934
- Boston, MA: $106,176
India (INR): (Salary information may vary depending on sources)
- Bangalore: ₹10 lakhs – ₹30+ lakhs per annum
- Hyderabad: ₹9 lakhs – ₹28 lakhs per annum
- Pune: ₹8 lakhs – ₹25 lakhs per annum
- Mumbai: ₹9 lakhs – ₹27 lakhs per annum
- Delhi-NCR: ₹8 lakhs – ₹26 lakhs per annum

Variation of AI Engineer Salary Based on Company

Larger companies with more resources may be able to offer more competitive salaries and benefits packages compared to smaller startups.

Tech Giants (US): Dominant tech companies like Google, Facebook, and Amazon are known to offer top dollar for AI talent. Expect a range of $120,000 to well over $180,000 annually.
Indian IT Powerhouses: Major Indian IT corporations like TCS and Infosys might offer a range of ₹12,00,000 to ₹20,00,000 ($14,400 to $24,000) per year.
Startup Hustle (US): Smaller companies and startups might have a budget of $80,000 to $130,000 for AI engineers. They might make up for it with perks like stock options and a dynamic work environment.
Indian Startup Scene: Indian startups might offer ₹8,00,000 to ₹15,00,000 ($9,600 to $18,000) annually. They may focus on growth opportunities and a close-knit team culture to attract talent.

Ways to Increase the Pay of an AI Engineer

If you want to be an AI engineer or earn more, you can do these:

Acquire New Tools and Programming Languages: Keeping abreast of the most recent programming languages and technologies will increase your employability. Good programming languages include Julia, Lisp, Javascript, and Python. You can learn how to use some noteworthy technologies, such as TensorFlow, PyTorch, OpenCV, and LangChain. Acquiring proficiency in these languages can enhance your likelihood of making an impression on employers during the technical interview phase. This could assist you in pay negotiations.
Enhance Your Skills in High-Demand Fields: You must cultivate a robust proficiency in particular competencies associated with various AI research domains and principles. Improving your AI skill set presents avenues for job advancement and possible pay increases in addition to helping you grasp important topics on a broader level. Investing in specialist fields like large language models and generative AI is an investment in your career growth. Our AI Fundamentals Track provides an organized study route if you’re searching for a resource to help you navigate these challenging subjects.
Make Connections and Network: Attending business conferences and events are great for networking with other professionals in the industry. It boosts your chances of landing your dream job with the right people in contact. Staying up to date on industry news helps keep you informed. It also leads to job openings that are not promoted everywhere. Talking with other AI experts can also benefit your career.
Think About Certifications: Certifications can serve as evidence of your proficiency and dedication to ongoing AI education. Applying to organizations that are hiring senior roles may benefit from your aptitude to pick things up quickly on your own. Certifications can assist in swiftly filling in the knowledge gap as the AI business moves quickly. Formal advanced degrees might be beneficial to consider if you’re changing careers and have no prior experience. Gaining an advanced degree in AI can make you stand out from the competition. It can also help in getting higher-paying job roles.

AI vs. Non-AI Compensation for Engineers

How do AI engineers compare to non-AI counterparts, despite the fact that they are well compensated and in high demand? According to Glassdoor, the average annual salary for a data scientist is $127,330, and for a software engineer it is $134,145.

On the other hand, an AI engineer may expect to earn an average of $147,880 per year. AI engineers need particular talents, thus salaries vary. AI developers need software and data science abilities. Some causes may make commodities scarce, raising prices. As more companies adopt AI, demand for AI developers exceeds supply, raising salaries.

Conclusion

AI engineers are in demand because firms need skilled workers. This means AI developer salaries will stay high and rise with the business. AI engineering offers good pay, steady growth, and a great career start or advancement. AI engineering can be lucrative with the right skills, expertise, and network. Starting practice today will prepare you for the future as an AI engineer.