Machine Learning Skills Translate to Big Paychecks for Bank Programming Experts
It appears the entire country has fallen short of workers. It doesn’t seem to matter if it’s burger flippers, doughnut dippers, or even machine learning professionals. And the latter seems to be paying pretty well these days. Very well in fact.
An article from fortune.com says Capital One Bank has seriously entered the market to improve its machine learning acumen. The bank plans to add 3,000 additional technologists by the end of the year, with a focus on machine learning specialists and software engineers who can build and maintain the complex infrastructure for powering AI software.
The writer Jonathon Vanian breaks down the search that Capital One has launched and some of the perks it is willing to offer.
Tech giants like Google parent Alphabet and Facebook offer top A.I. recruits who have Ph. D.s pay packages of up to $500,000 annually, said Alex Ren, CEO of A.I.-talent recruiting firm TalentSeer. Banks, insurance companies, and other financial services firms typically pay such recruits $300,000, making it difficult for those businesses to compete against the tech giants.
Additionally, because demand for AI talent is so high, machine learning engineers with just three years of experience can receive five different job offers within two months of their initial job search, Ren said. If uninterested in working at companies like Google or Facebook, job seekers may consider high-flying startups that can provide a huge windfall if and when they go public.
“Mostly we’re going head-to-head against other technology companies, more so than banks for the types of talent that we’re looking for,” Alexander said. “That’s the price of entry in the game, as you have to have a competitive value proposition—compensation is a big part of it. It’s not the only thing, but it’s definitely a big part of it.”
Although Capital One intends to hire machine learning experts, it’s also looking for software developers who know how to use the cloud computing services of giants like Amazon Web Services, Bose said. In 2020, Capital One closed its last internal data center and moved all of its IT infrastructure to AWS.
If you are looking for some high-paying work you might find this article is just what you needed to update your resume.
read more at fortune.com