🚀 Top AI Researchers Earn $865K/Year: Rora's 2023 Report!
A Good Time to Be a Top AI Researcher.
Hey hey!
Happy New Year, friends.
Thank you for taking the time to read my emails, I appreciate it.
I want to share a comprehensive overview of the current state in AI research, particularly focusing on AI researchers' salaries and industry demand.
2023 has been a remarkable year in the field, and understanding these trends is crucial for anyone involved in AI.
Note: This report is for 4th and 5th year PhDs or final-year postdocs interested in transitioning from academia to industry and have a background in machine learning.
Unprecedented Demand Despite Tech Layoffs
This year, despite widespread layoffs in the tech industry, the demand for AI talent has only accelerated.
New industry research labs and AI-focused startups have continued to attract significant funding.
The interest in AI talent is not limited to tech companies; sectors like finance, healthcare, and science are also eagerly recruiting machine learning experts.
The global demand for AI researchers far outstrips the supply.
In 2021, there were only 1,691 PhDs awarded in computing research. Compare this to the United States alone, which needs over 33,500 computer and information research scientists, and you can see the opportunity that lies ahead for AI researchers.
What Companies Look For in AI Researchers
Companies are particularly interested in researchers specializing in machine learning applications in areas like computer vision, robotics, NLP, biology, and neuroscience.
A strong publication record, experience in industry internships, and connections with industry research directors are highly valued.
Salary negotiations in AI research roles are more than just numbers; they represent the value of your skills and expertise.
For example, a new grad PhD entering as an L4 Research Scientist at Google could see a salary range as wide as $250k to $550k annually. The implications of successful negotiations go beyond the immediate financial gains; they have a compounding effect throughout your career.
It's essential to recognize that salary negotiation impacts more than just your paycheck.
It also influences your internal career progression, the projects you work on, and your future growth within the company.
Real-World Negotiation Success Stories
Let's look at a real example.
Joe, despite not attending a top AI institution and having an average publication record and limited work experience, managed to secure a 243% salary increase. Understanding his market worth and recognizing the initial low offer, he set a higher salary expectation of $500k/year.
When Google initially resisted, Joe used the extended offer period to secure competitive offers from other companies. With these offers as leverage, he engaged in patient and strategic negotiations, eventually convincing Google to increase their offer to $526k. This success story illustrates the importance of knowing your value, leveraging competitive offers, and effectively negotiating in the job market.
The takeaways are these: patience, leverage, conviction, and relationships. The process of reaching a final offer can be long, so the ability to remain patient is key. You need to know - and communicate - your leverage throughout the negotiation.
Detailed AI Research Salary Report
This year's report reveals some staggering figures. Top AI research roles at companies like OpenAI,
Anthropic, and Tesla offer annual compensations nearing $1 million.
These figures include base salaries, bonuses, and equity.
Moreover, signing bonuses can add up to $700k over four years.
As the competition for leading large language models intensifies, so does the demand for top AI talent.
Reports of OpenAI offering $10M packages to poach Google workers only underscore the lucrative opportunities available in this field.
2023 has been a dynamic year for AI research, characterized by rapid advancements and a growing recognition of the value of AI talent. As we look forward to 2024, it's clear that the opportunities and challenges in AI will continue to evolve, offering exciting prospects for those in the field.
Thank you for your continued interest and support.
Here's to a new year filled with more breakthroughs and advancements in AI!