According to a report from 2023, highly sought-after AI researchers have the potential to earn over $750,000 annually at leading artificial intelligence (AI) firms upon completing their studies.
As the demand for skills in this rapidly expanding field rises, Rora, an income negotiation service, has gathered data showcasing the escalating salaries offered to AI specialists.
How much did AI specialists earn in 2023?
The report delves into over 600 job offers targeted at recent Ph.D. graduates. It discloses that two prominent AI hubs, namely OpenAI (the developers of ChatGPT) and Anthropic, present the most lucrative starting salaries, with fresh researchers commanding up to \(865,000 and \)855,000, respectively. Inflection (\(825,000), Tesla (\)780,000), and Amazon ($719,000) are also at the forefront.
It is essential to recognize that the total remuneration package, encompassing base salary, bonuses, and ownership stakes, was considered in the study. Monetary bonuses such as incentives or special awards were not itemized in the report.
The potential for negotiation is remarkable. Even at renowned firms like Google and Microsoft Research, candidates have the opportunity to enhance initial offers by up to 77%. Following negotiations, one scholar boosted Google’s initial offer from \(266,000 to \)526,000, marking a 243% increase.
Businesses provide the salary range for Artificial researchers.
Beyond just the first-year salary, the report underscores how the initial negotiation impacts long-term earnings due to compounding effects throughout one’s career. A mere 5% raise on a $100,000 starting salary translates to an extra 14 years’ worth of earnings over the professional trajectory.
Apart from compensation, establishing robust professional relationships is imperative for a thriving career.
Brian Liou, the founder of Rora, asserts that “the ability to influence others enhances projects, boosts visibility, and ultimately leads to promotions, career growth, and salary increments.” Discord with superiors, being assigned low-impact projects, stagnation in terms of raises or promotions, or even termination are potential consequences of ineffective negotiation within the workplace.
Why is there such a high demand for AI roles?
In essence, the demand surpasses the supply.
The existing talent deficit significantly exceeds the fervent need for AI experts. Only 1,691 PhDs in computing research fields like machine learning were conferred in 2021, as per Taulbee Research. Conversely, there are over 30,000 vacant positions for computer and data analysis scientists solely in the US. Moreover, this demand escalates by 21% annually, resulting in the creation of 5,000 new roles each year.
Despite the prevailing economic conditions, the Artificial Intelligence sector is rapidly expanding. While recruitment has slowed at Google and Meta labs, their AI divisions continue to expand. Emerging research entities like Anthropic, Inflection, and Altos Labs are actively recruiting.
Cybersecurity stands out as another high-demand industry. Initially, the highest-paying cybersecurity roles in the US were discussed.
