Employers Willing to Pay Nearly $1M for AI Jobs

Salaries on job advertisements are going through the roof
By Steve Huff,  Newser Staff
Posted Aug 20, 2023 3:25 PM CDT
Employers Willing to Pay Nearly $1M for AI Jobs
The OpenAI logo is seen on a mobile phone in front of a computer screen which displays output from ChatGPT.   (AP Photo/Michael Dwyer)

Recent reports like this one from Futurism about the AI "bubble" popping notwithstanding, some companies are willing to pay big bucks for a brain that can truly understand the best uses of artificial intelligence. The Wall Street Journal reports that major employers are chasing data scientists and experts in machine learning with hefty six-figure salaries. Netflix recently caused a social media stir, for example, when it advertised a $900,000 a year position for its machine-learning platform. The story ticks off other examples, including a $398,000 AI position at dating site Hinge, a $252,000 job at Walmart, and a $437,000 position at Upwork, a jobs marketplace.

"This is pure market economics," Paul J. Groce of the executive recruiting firm Leathwaite tells the Journal. "We do not magically have thousands of additional AI developers, product managers and everything else." Recruiter Aaron Sines of Razoroo echoes the sentiment to Insider: "The demand for professionals with knowledge in AI research, machine learning, deep learning—it truly outpaces the available supply of candidates." Money offered for AI know-how has kept pace with the rise in public awareness of artificial intelligence advancements. Back in January, Nexford University published a list of 10 top-paying AI jobs, with the top one (business development manager) topping out at just under $200,000.

Insider notes that even companies not traditionally known to be focused on tech like Jane Street, a trading firm, were offering up to $300,000 for machine-learning experts. Others are hiring AI specialists not for coding but to teach their employees how to navigate the new world—the example cited at Insider is a law firm. The Journal points out that expenditures don't end with big offers to individuals. Bigger companies are ready to shell out big bucks to acquire smaller, AI-focused startups. For now, it's a prime market for anyone with AI expertise. "We're trying to hire, but it's a smoking-hot market," Chris Todd, CEO of software company UKG, tells the Journal. (More artificial intelligence stories.)

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