Machine Learning Engineer Salary: Trends and Predictions for 2021

Few fields today get as much limelight as Artificial Intelligence (AI) and Machine learning (ML). Their applications span industries, and their wide-scale adoption coupled with steady growth projection, make them some of the hottest careers on the planet. 

ML and AI jobs are often dubbed as the jobs of the future. But that doesn't mean these jobs don't hold much value today. That's far from the truth. What it actually means is that securing a job in these fields is your key to setting yourself up for a bright future and staying employed for the decades to come.    

If you're interested in becoming a part of this burgeoning field or planning to transition to ML roles by learning new skills, this article will take you through the best job roles and machine learning engineer salary trends for 2021 that you should keep an eye on.

Now before we look into the machine learning engineer salary, let us find out more about the jobs

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The Boom in Machine Learning Jobs

The job opportunities in Machine Learning are as wide-ranging and abundant as the applications of this technology. From self-driving cars to online shopping, speech recognition, and epidemic prevention, there is virtually no major area of modern life that cannot be improved upon by strategic use of the algorithms. Hence, the widespread use of ML models across industries. 

Better yet, a recent report by Forrester predicts AI and ML to enter new realms and give rise to new use cases and experiences in 2021. Machine Learning adoption is looking to soar, with more companies than ever implementing these technologies to meet the rapidly changing demands and beat the emerging competition.   

It's safe to say that a career in Machine Learning is booming with nearly boundless potential. However, despite the glorious opportunities in ML, there are more vacant positions for machine learning professionals than there are people with those skills. An Ernst & Young report identified a veritable "talent crisis" in the field. As did a report by Analytics Insight, which pegged the global skills gap in AI at 66%.

Clearly, there's an acute shortage of skilled Machine Learning Engineers. Combined with the rise in demand for these professionals, it bodes extremely well for the earning potential of ML literate candidates.  

If you're aiming to work in a field that offers amazing pay and benefits along with great job satisfaction, Machine Learning is for you. 

Below are some top machine learning jobs showing upward salary trends for 2021. The list covers machine learning salary by job role as well as by geography. 

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1. Machine Learning Engineer

The role of a Machine Learning Engineer was placed third among the most in-demand AI jobs, with Machine Learning ranking as the most in-demand technical skill today. 

The job of a machine learning engineer is to design and develop machine learning systems through the use of appropriate algorithms and tools. These professionals are tasked with data modeling and evaluation and building effective self-learning applications by conducting statistical analysis and fine-tuning using test results. An important part of their job is to train and retrain systems when required.

To excel as an ML engineer, one needs the knowledge of statistics and programming while being good at mathematics, probability, and algorithms. Also necessary is a solid understanding of data structures, data modeling, and software architecture. They must also know how to code in Python, Java, and R. 

We will next look at the machine learning salary by Geography.

Machine Learning Engineer Salary by Geography:

In the United States, a machine learning engineer can draw an average salary of $118,875/year.

In the UK, the average machine learning engineer salary is £ 50,601/year.

In India, a machine learning engineer salary is ₹ 687,250/year.

2. Data Scientist

A Harvard Business review article famously dubbed Data Scientist as the "Sexiest Job of the 21st Century". The role is still living up to the claim by being one of the highest paying jobs in the realm of ML.

A Data Scientist is responsible for collecting, analyzing, and interpreting huge volumes of data and producing actionable insights that help drive business decisions. These professionals utilize their expertise in advanced analytics technologies, including Machine Learning and Predictive Modeling, to perform their day-to-day tasks.

Aspiring candidates in this role must have a good background in statistics and programming, particularly in Python. In addition, knowledge of R and SQL work to their advantage. 

Data Scientist Salary by Geography:

A data scientist in the US can earn an average salary of $113K/year.

The average data scientist salary in the UK is £ 50,434/year.

In India, a data scientist's salary is ₹1,000K/year.

3. NLP Scientist

NLP stands for Natural Language Processing and is a field that gives machines the ability to understand human language. Applications such as voice recognition, speech to text, and many others that we use every day have machine learning at its core. 

An NLP Scientist is involved in developing a machine with the ability to learn speech patterns and translate spoken words into other languages. This job requires the professionals to have excellent fluency in the syntax, spelling, and grammar of at least one language and expertise in machine learning.

NLP Scientist Salary by Geography:

An NLP scientist in the US can earn an average salary of $116K/year.

In India, an NLP professional commands an average salary of ₹977,271/year.

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4. Human-Centered Machine Learning Designer

These professionals deal with the branch of machine learning, where ML algorithms are focused mainly on humans. This job involves generating patterns from the available data, which machines can learn based on individual information. Examples of this are YouTube and Netflix recommendations, where users are suggested content based on their viewing history. 

A professional in this job role must have a keen understanding of human behavior and knowledge of building workflows based on work habits and practices and their relationship with systems and machines. A good understanding of machine learning and programming skills in Python, R, and Java are key requirements for this job role.

Human-Centered Machine Learning Designer Salary by Geography:

A machine learning designer in the US can earn an average salary of $100,000+/year.

In India, an ML designer with NLP focus can earn an average salary of ₹540K/year.

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Learn the Ropes of Machine Learning 

As businesses speed up their adoption of ML systems and Machine Learning job listings continue to rise, be assured that there are plenty of opportunities no matter which career path in ML, you choose to follow. More importantly, because Machine Learning will eventually impact even those industries that are currently untouched by it, your field of interest will have a place for Machine Learning Enginners in the coming years. With high paying salaries and the chances of contributing to some of the world's most transformative projects, Machine Learning jobs are — and will remain — some of the most sought-after positions in the IT job market. So whether you're looking to build a career in Machine Learning or planning to upskill yourself in ML skills to become future-ready, getting certified can help you take steps in the right direction. The Machine Learning Certification course from Simplilearn can get you started on this journey. Get certified today! 

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