Machine Learning - Revolutionizing the future of the world

As an emerging field, Machine Learning has attracted a lot of companies who want to hire seasoned professionals. The discipline has given rise to a new era that has completely revolutionised the computing world with its unlimited data input, predictive analysis, quick processing, and task automation without the intervention of humans. 

Given its multifaceted usage, it is the most heard name in the IT marketplace all over the world and companies are ready to hire people with exceptional machine learning knowledge.

Jobs and Salaries of a Machine Learning Engineer

(Image source: Payscale)

In the year 2021, a machine learning engineer is expected to earn an average annual salary of 8 lacs in India, as per Glassdoor, and around 6.8 lacs a year according to PayScale.

Machine learning (ML) and Artificial Intelligence (AI) have changed the ways we understand the world around us and continue to have a big impact on all aspects of the society around us. The jobs that are related to the field of AI and ML are expected to boost 40% over the coming six years. 

There are about 15,542 jobs in LinkedIn in India related to machine learning and about 1,71,549 open positions worldwide that require the skill of machine learning. 

There are 1,982 job listings on LinkedIn for people who are skilled in TensorFlow, and about 1,176 positions that are open for candidates with PyTorch expertise.

Your experience matters!

Companies that hire people with the knowledge of machine learning do a thorough check regarding the candidate’s educational background, the hands-on experience he/she has with regards to a particular project, and the manner in which they approach the problems in order to decide their salary packages.

While most freshers who have a relevant degree and experience of 0-1 year in the fields of data science and ML projects along with the knowledge in physics, computer sciences, and maths get an entry-level job in organisations. The average salary of an entry-level machine learning engineer would range from Rs.1.74-1.86 lakhs per year, according to Glassdoor.

However, if the candidate has experience of 1-4 years, their expected salary is around Rs.7.5 to Rs.16 lakh per year. Their chances of this pay scale increase if they have a Master's degree in data science or analytics or some other advanced degree.

For seasoned professionals of machine learning who come with experience of over 4-9 years, their salaries are good enough. Because they come with an in-depth knowledge of the ML lifecycle, developments in the ML models, and the tools that are required to use, they are expected to lead the team of freshers and junior engineers.

Hence, their average annual salary is over Rs.1 crore, according to upGrad, in India. However, the job openings have increased by 102 and 184 percent for mid and senior-level ML engineers respectively.

(Image Source- Payscale)

Essential skills for a Machine Learning Engineers

It depends on the particular domain what skills are required to help a machine learning engineer land into a job. However, they are some key essential skills that all ML engineers must know. These include the knowledge of data science, Natural Language Processing (NLP), Python, expertise in computer vision, deep learning, and machine learning. The know-how of these skills also dictates a Machine Learning engineer’s average salary.

Machine Learning - Location Impact 

A top-level machine learning engineer in the United States gets an annual salary of about $175,000-$245,000 per year and this keeps on changing given the candidate’s location within the US. This is 20% more than the average Indian salary of the ML engineer. 

For example: In New York, an ML engineer is paid an average of $122,000, more than he/she would have been paid in Los Angeles, Charleston, etc. It is simply because the cost of living in NY is higher. Candidates must understand that it is very important to evaluate the cost of living in a particular city and the base salary before they accept a job offer.

In India, an average Machine Learning engineer is paid about Rs.8,44,175 in Bengaluru, followed by Rs. 7,50,000 in Delhi, Rs. 6,92,087 in Chennai, Rs. 6,50,000 in Kolkata and Rs. 6,10,419 in Mumbai. ML engineers in Bengaluru, according to PayScale, earn 25% more than the national average package of India.

As Machine Learning gains popularity day by day and makes inroads into every industry, the demand for ML engineers is bound to rise. It is all set to enter our workplaces and increase productivity, efficiency, and minimise costs. From customer care handled by chatbots to the inclusion of technology in the healthcare industry, the role of artificial intelligence and machine learning has increased at 74% annual growth rate. India must take proper steps to harness this big pool of ML energy and pay reasonable salaries to engineers on par with the rest of the world.

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