Tech companies are significantly raising salaries and bonuses to attract talent with AI skills. A report from J. Thelander Consulting revealed premiums of up to $200,000 for data scientists specializing in machine learning. Bonuses are also increasing for lower-level software engineers and analysts. Many smaller firms, lacking revenue or profit, are using these high payouts as a strategy to compete against larger tech companies. Recently, even major players like Meta have become involved by offering substantial recruitment incentives.
About half of the surveyed companies paying premiums for employees with AI skills had no revenue in the past year, and a majority (71%) had no profit.
The report showed that data scientists and analysts with machine learning skills tend to receive a higher premium than software engineers with the same skills.
Smaller firms need to stand out and be competitive among Big Tech giants, a likely driver behind the pricey recruitment tactic.
Some Big Tech companies have also recently made headlines for their sky-high recruitment incentives, such as Meta trying to poach employees with $100 million signing bonuses.
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