The income of a machine learning engineer can be significantly more than the median wage in the US. Find out how much money you may make in this lucrative profession.

On data science teams, machine learning (ML) engineers do research, develop, and design essential artificial intelligence.

Machine learning experts are in high demand across many businesses, whether working on computer vision using deep learning or developing algorithms to generate instantaneous market forecasts in milliseconds. 

And as a result, they receive fair compensation for their extensive expertise and particular machine learning skills.

This article will explain how experience and area affect a machine learning engineer's pay and their anticipated national average compensation. 

Additionally, you'll discover the top industries currently employing machine learning engineers and the general career prospects for this profession. 

Finally, whether you're a beginner or a seasoned professional, you'll discover how to take the first steps toward your career as a machine learning engineer.

What is the average salary for a machine learning engineer?

Numerous variables, including experience, industry, and location, impact the typical compensation of a machine learning engineer. 

However, the typical pay for a machine learning engineer ranges from $112,832 to $143,180 per several salary aggregation websites.

It's essential to remember that this is simply an average and that individual salaries may vary based on the situation. 

Additionally, depending on the particular region and business. 

For example, machine learning engineers in Silicon Valley's tech sector can make much more money than their counterparts in a smaller location or a different industry.

Machine learning engineer salaries by experience

The salary of a machine learning engineer can vary based on their experience level. Here is a general breakdown of salary ranges for machine learning engineers based on experience:

• Entry-level (0-3 years of experience): $80,000 - $110,000 per year
• Mid-level (3-5 years of experience): $110,000 - $140,000 per year
• Senior-level (5+ years of experience): $140,000 - $200,000+ per year

It is important to note that these are just estimates, and actual salaries may vary depending on various factors such as the specific industry, location, and education of the individual. 

In addition, salary can vary widely based on the specific location and industry. For example, machine learning engineers working in the tech industry in Silicon Valley may earn significantly more than those working in a smaller city or a different sector.

Machine learning engineer industries 

Machine learning engineers can work in a variety of industries, including but not limited to:

• Tech: Machine learning engineers are in high demand in the tech industry, where they can work for companies developing software, hardware, and other technology products.
• Finance: Many financial institutions use machine learning to analyse and make decisions about economic data, and machine learning engineers are often hired to develop and maintain these systems.
• Healthcare: Machine learning can be used to analyse medical data and make predictions about patient outcomes. Machine learning engineers may be hired to work on these types of projects in the healthcare industry.
• Manufacturing: Machine learning can be used to optimise production processes and improve efficiency in the manufacturing industry, and machine learning engineers may be hired to work on these projects.
• Retail: Machine learning can be used to analyse customer data and make recommendations in the retail industry. Machine learning engineers may be hired to work on these types of projects.
• Government: Machine learning can be used in various government agencies to analyse data and make decisions, and machine learning engineers may be hired to work on these types of projects.
• Education: Machine learning can be used to analyse educational data and make predictions about student outcomes. Machine learning engineers may be hired to work on these projects in the education industry.

This is a partial list; machine learning engineers may also find employment in other industries.

Machine learning engineer salaries by location 

The salary of a machine learning engineer can vary based on their location. Here is a general breakdown of salary ranges for machine learning engineers based on site:

• United States: According to data from Glassdoor, the average salary for a machine learning engineer in the United States is $121,562 per year as of September 2021. However, salaries can vary significantly based on the specific location within the United States. For example, machine learning engineers working in Silicon Valley may earn substantially more than those working in a smaller city.
• Canada: According to data from Indeed, the average salary for a machine learning engineer in Canada is C$92,479 per year as of September 2021. However, salaries can vary based on the specific location within Canada.
• Europe: The salary for a machine learning engineer in Europe can vary significantly based on the specific country and location. According to data from Indeed, the average salary for a machine learning engineer in the United Kingdom is £62,500 per year as of September 2021, while the average wage in Germany is €79,039 per year.
• Asia: The salary for a machine learning engineer in Asia can also vary significantly based on the specific country and location. According to data from Indeed, the average salary for a machine learning engineer in India is INR 9,00,000 per year as of September 2021, while the average wage in China is ¥316,834 per year.

It is important to note that these are just estimates, and actual salaries may vary depending on a variety of factors such as the specific industry, level of experience, and education of the individual.

The job outlook for machine learning engineers 

The job outlook for machine learning engineers is generally favourable. The demand for professionals with expertise in this field will grow in the coming years. 

Machine learning is a rapidly evolving field that is being applied to an increasing number of industries. As a result, there is a high demand for machine learning engineers who can develop and maintain machine learning systems.

According to data from the Bureau of Labor Statistics (BLS), employment of computer and information technology occupations, which includes machine learning engineers, is projected to grow 11% from 2019 to 2029, much faster than the average for all occupations. 

The BLS also reports that the median annual wage for computer and information technology occupations was $88,240 in May 2020, significantly higher than the median yearly wage for all fields.

Overall, the job outlook for machine learning engineers is very positive, and those with the necessary skills and experience should have a strong job market. 

It is essential to stay up-to-date on the latest developments in machine learning and seek out opportunities for continuing education and professional development to remain competitive in the job market.