AI Consultant Salary and Hourly Rate [2024]

With the rise in the adoption of Artificial Intelligence technologies, the demand for qualified AI consultants is at an all time high.

AI consultants help businesses leverage the power of AI to solve complex problems, optimize operations, and gain a competitive edge.

If you're curious about a career in AI consulting, or you're a business owner wondering about the value an AI consultant can bring, then you might be wondering what the typical AI consultant salary is.

In this blog post, we will take a closer look at the average AI consultant salary and the typical hourly rate that you can expect to earn as a consultant.

What Does an AI Consultant Do?

AI consultants advise companies on how AI can be harnessed to address specific challenges and achieve their business goals.

For instance, AI is used to optimize resources and vehicle routing for Walmart’s Express Delivery service. Through the use of clever AI systems, Walmart is able to achieve a delivery time of less than 1 hour.

Source: VentureBeat

AI consultants can help businesses of all shapes and sizes. Apart from the large tech companies employing AI engineers and consultants, small businesses also need these expertise.

I’d imagine that small, local business owners might hire AI consultants on a freelance basis to help them implement AI-based solutions for their businesses.

One such solution might be setting up AI chatbots for small business websites. These chatbots can be trained and then used to help customers with various queries such as FAQs and bookings.

The best AI consultants possess a blend of technical knowledge and business acumen, enabling them to not only understand how AI technologies work but also how this technology can be applied to solve specific business challenges.

This involves a thorough analysis of the company's needs, current technological infrastructure, and future goals.

On that note, if you’re interested in a career in AI, check out AI Jobs to find open positions at all the leading tech companies around the world.

We’ve got positions in all the most popular fields of AI, including machine learning, computer vision, data science, and more.

Typical Responsibilities of an AI Consultant

• Developing AI Strategies: AI consultants collaborate with internal teams to develop a customized AI strategy. This strategy outlines the specific AI tools or techniques that will be used, the data required to train them, and the expected outcomes of the project.
• Tech Assessment: Evaluating existing technological frameworks and identifying opportunities for AI integration that align with the company's goals.
• Project Management and Implementation: AI consultants often play a key role in managing and overseeing AI projects. This might involve working with data scientists and engineers to develop AI models, ensuring data quality and security, and integrating AI solutions seamlessly into existing workflows.
• Training and Support: Providing training for company staff to effectively utilize AI tools and offering ongoing support to ensure the solutions continue to deliver value.

Now that you've got a better idea of what an AI consultant does and the typical responsibilities associated, let's discuss the typical AI consultant salary.

Note: Your earnings potential as an AI consultant will depend on your location and the company you're working for.

For instance, companies in the United States tend to pay a lot more than companies based in Africa.

AI Consultant Salary

The average AI consultant salary in the United States falls around $113,000 annually. (Source: ZipRecruiter)

However, this is just a starting point, and your earning potential can vary significantly depending on several factors.

The average hourly rate for an AI consultant is around $55 per hour in the United States.

As I mentioned, location plays an important role in what you can earn as an AI consultant. Here's a breakdown of typical AI consultant salaries by region:

• North America: the average annual AI consultant salary ranges between $100,000 to $150,000 per year.
• Europe: the average annual AI consultant salary ranges between €80,000 to €120,000 per year.
• APAC: the average annual AI consultant salary ranges between $90,000 to $130,000 per year.
• Middle East: the average annual AI consultant salary ranges between $80,000 to $120,000 per year.

Factors Impacting AI Consultant Salaries

Location

Just like with many professions, AI consultant salaries can vary considerably depending on where you live and work. Major tech hubs, like San Francisco, New York City, and Seattle, tend to offer the highest salaries for AI consultants.

For instance, in the below infographic you can see the differences between the average tech salaries in different cities in the United States.

As you can see the major tech hubs like Silicon Valley and Seattle pay much more compared to other cities such as Denver and Austin, which aren’t technically tech hubs.

This is due to a higher concentration of tech companies and startups with the resources to invest in AI solutions. The intense competition for top talent in these areas also drives AI consultant salaries upwards.

Level of Experience and Expertise

As with any profession, experience is a valuable commodity. AI consultants with a proven track record of success and a deep understanding of AI technologies can command higher salaries.

Specialization in a particular area of AI, such as computer vision, natural language processing, or machine learning, can also be advantageous.

Education

While not always mandatory, a strong educational background in a relevant field, such as computer science, mathematics, engineering, or data science, can be beneficial for aspiring AI consultants.

An advanced degree, like a Master's in Artificial Intelligence or a related field, can further enhance your earning potential.

Company

The size and reputation of the company you work for can also play a significant role in your AI consultant salary.

Large, established tech companies like Google, Meta, and Amazon have more resources and are actively looking for top talent in the AI field.

According to an article by Fortune, we can see that the top tech companies, mainly Amazon, Google, Microsoft, Nvidia, and Facebook, are estimated to spend much more in hiring AI talent compared to less well-known tech companies.

These companies can afford to offer competitive salaries and attractive benefits packages to attract and retain skilled AI consultants.

On the other hand, smaller companies or startups might not have the same financial resources.

While they may still offer competitive salaries, they might not be able to match the top dollar packages offered by tech giants.

However, working for a smaller company can offer other advantages, such as a more dynamic work environment, the opportunity to make a significant impact on the company's direction, and potentially faster career advancement.

Industry

The industry you specialize in can also impact your salary.

AI consultants working in highly regulated industries, such as healthcare or finance, might command a premium due to the additional knowledge and compliance requirements involved.

Where to Find AI Consultant Jobs

If you're ready to leverage your expertise and help businesses unlock the power of AI, here are some resources to kickstart your job search:

AI Jobs

AI Jobs connects talented AI professionals with top companies across the globe.

Search for "AI Consultant" positions and browse openings from industry leaders, cutting-edge startups, and everything in between.

Industry Networking Events

Attending industry conferences, workshops, and meetups is a fantastic way to connect with potential employers and stay up-to-date on the latest trends in AI.

These events often feature networking opportunities where you can showcase your skills and make valuable connections.

Company Websites

Many leading tech companies maintain dedicated careers pages on their websites.

These pages often list current job openings, including positions for AI consultants. Researching companies at the forefront of AI and exploring their career pages can be a fruitful strategy.

Conclusion

If you're passionate about artificial intelligence and eager to help businesses leverage its power, then a career in AI consulting could be the perfect fit.

With the right skills, experience, and dedication, you can make a significant impact and enjoy a rewarding career in this dynamic field.