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.

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.

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.

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!