[US] Booming market for AI skills sees salaries topping $300,000

[US] Booming market for AI skills sees salaries topping $300,000
16 Jun 2022

On June 14 a new salary survey of AI professionals and data scientists in the US was released, it shows an unprecedented annual increase in compensation for data analysis skills and experience, Forbes reports.

The Burtchworks survey of 1,841 data professionals (1,265 Data Scientists and 576 AI Professionals) was conducted from May 2021 to April 2022. It found “the largest salary increases we have ever reported, across all job levels.” The increases in mean base salaries over this period for AI Professionals reportedly ranged from 11 per cent for level 1 individual contributors to 10 per cent for level 3 managers and from 13 per cent for a level 1 data scientist individual contributor to 10 per cent for a level 3 data scientist manager.

According to the report, the most notable salary increases were across all managerial levels, with companies looking for “professionals who have extensive experience and are able to hit the ground running, especially given the Great Resignation and the prioritisation of efficiently managing internal teams.”

The median base salary for data scientists as individual contributors ranges from $90,000 for a level 1 individual contributor to $145,000 for a level 3 individual contributor. For data science managers, the median base salary ranges from $155,000 to $275,000, depending on the level of experience. The 75th percentile of the base salary for a data science manager at level 3 is $310,000, an annual increase of 13 per cent.

The median base salary for AI Professionals as individual contributors ranges from $105,000 for a level 1 individual contributor to $175,000 for a level 3 individual contributor. For AI managers, the median base salary ranges from $167,000 to $275,000, depending on the level of experience. The 75th percentile of the base salary for an AI manager at level 3 is $300,225, an annual increase of 9 per cent.

The Burtchworks report has been published annually since 2013 and has closely followed the continuous upgrading of skills required from data analysis professionals. The terms used by this year’s study reflect the latest demand trends, with “Data Scientists” focused primarily on working with structured data and “AI professionals” primarily analysing unstructured/streaming data.

Burtchworks said, “our data and conversations with both employers and professionals indicate that 2022 data science and AI hiring is robust.” However given the recent first signs of hiring freezes and even layoffs, Burtchworks highlights the need for caution about the near future, “These uncertain times are causing a ripple in many industries: funds are slowing for smaller, newer companies and interest rate increases are impacting financial services firms. Similarly, inflation is hurting CPG, retail, and manufacturing firms, while supply chain issues are taking a toll on technology firms. We will continue to monitor these important changes in the market and share upcoming research and observations.”

Burtchworks will reportedly discuss the new report in a June 21 webinar.


Source: Forbes

(Links and quotes via original reporting)

On June 14 a new salary survey of AI professionals and data scientists in the US was released, it shows an unprecedented annual increase in compensation for data analysis skills and experience, Forbes reports.

The Burtchworks survey of 1,841 data professionals (1,265 Data Scientists and 576 AI Professionals) was conducted from May 2021 to April 2022. It found “the largest salary increases we have ever reported, across all job levels.” The increases in mean base salaries over this period for AI Professionals reportedly ranged from 11 per cent for level 1 individual contributors to 10 per cent for level 3 managers and from 13 per cent for a level 1 data scientist individual contributor to 10 per cent for a level 3 data scientist manager.

According to the report, the most notable salary increases were across all managerial levels, with companies looking for “professionals who have extensive experience and are able to hit the ground running, especially given the Great Resignation and the prioritisation of efficiently managing internal teams.”

The median base salary for data scientists as individual contributors ranges from $90,000 for a level 1 individual contributor to $145,000 for a level 3 individual contributor. For data science managers, the median base salary ranges from $155,000 to $275,000, depending on the level of experience. The 75th percentile of the base salary for a data science manager at level 3 is $310,000, an annual increase of 13 per cent.

The median base salary for AI Professionals as individual contributors ranges from $105,000 for a level 1 individual contributor to $175,000 for a level 3 individual contributor. For AI managers, the median base salary ranges from $167,000 to $275,000, depending on the level of experience. The 75th percentile of the base salary for an AI manager at level 3 is $300,225, an annual increase of 9 per cent.

The Burtchworks report has been published annually since 2013 and has closely followed the continuous upgrading of skills required from data analysis professionals. The terms used by this year’s study reflect the latest demand trends, with “Data Scientists” focused primarily on working with structured data and “AI professionals” primarily analysing unstructured/streaming data.

Burtchworks said, “our data and conversations with both employers and professionals indicate that 2022 data science and AI hiring is robust.” However given the recent first signs of hiring freezes and even layoffs, Burtchworks highlights the need for caution about the near future, “These uncertain times are causing a ripple in many industries: funds are slowing for smaller, newer companies and interest rate increases are impacting financial services firms. Similarly, inflation is hurting CPG, retail, and manufacturing firms, while supply chain issues are taking a toll on technology firms. We will continue to monitor these important changes in the market and share upcoming research and observations.”

Burtchworks will reportedly discuss the new report in a June 21 webinar.


Source: Forbes

(Links and quotes via original reporting)