Just FYI I made $millions doing CRUD apps for enterprise. I spent most of it on accommodation and food so not as sexy as AI I guess
A.I. researchers are making more than $1M, even at a nonprofit
61–70 of 176 posts
Re: A.I. researchers are making more than $1M, even at a nonprofit
#62Earlier quoted context omitted.
If you have a family it’s not possible. Home prices average close to $1m. You’d have to save an entire years salary PRE tax to afford the down payment. That will take years and years to save. If you’re raising a family you’ll likely need two $200k incomes to afford a house, and even then, it’ll take at least 2 years to save for the down payment. The Bay Area is for college kids and millionaires. That’s it.
20% down is a rule of thumb, and a requirement to avoid mortgage insurance, but it is not a requirement for lending. My credit union will do loans of up to 95% loan to value for $1.5M to first time homeowners or 90% loan to value up to $1.5M if you don't meet the first time qualifications. [1] I'm sure other volume lenders in the bay area have similar lending standards and programs. [1] https://www.starone.org/first-…
It's a financial mistake to not put 20% down. Not only are you hit with $500+/month in PMI, you have almost negative equity into the house when you buy it. Meaning if you have to sell on short notice you're either completely underwater having to pay back cap gains, or you're just breaking even. That's not an ideal situation and if you don't understand the mechanics going in, you'll find yourself in a world of hurt in an economic downturn.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#63Earlier quoted context omitted.
Star *anything" is a path to millions. Star athletes and musicians are obvious examples, but even star jugglers or puppeteers probably make a killing. Very misleading article
Exactly. The problem with this field is that if you want to see what you'd have to do to be a star researcher in AI. You'd have to be top-10 amongst 20.000 or so machine learning PhDs. This is not a reasonable aspiration. Plus I would argue that although Ilya Sutskever did a ridiculous amount of effort and then got lucky, 2 two others were at best interested academics on the sidelines for most of their careers, then…
You also have to do a PhD, and make sure you get a good adviser/good department, and get lucky enough for nothing bad to happen to your adviser and department, and be very careful with how you spend your time (if you spend a lot of time on something that doesn't end up being fruitful, that's opportunity cost that other top researchers might have turned into a breakout publication and now you are behind). And you make like $30k/year while in grad school and might experience some pretty bad mental health due to stress.
Of course, the average/above-average case isn't terrible. I think non-famous AI researchers are still getting hired into $400-500k/year at FAANG at "senior" level, it's just that you would be making roughly the same amount of money if you just went directly into software engineering at a FAANG out of undergrad and did above-average at promotions.
To me, that makes it not really make sense to go into AI research (especially now, when it's a hot topic and you have a 3-5 year wait to get your PhD) unless it's something you are genuinely interested in. For purely career reasons, it doesn't seem much better than just going right into software engineering.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#64Earlier quoted context omitted.
People in tech generally have no clue of how much money gets made in finance
Just put your hand in the giant rushing river of money and see what sticks...
The oyster farmer eats more oysters than everyone else. The money farmer eats more money than anyone else.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#65Is it worth putting the time into learning AI/ML at this point? Sure, crazy high salaries- but it seems inevitable that these are the very jobs that will be automated away first.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#667-figure salaries have been a thing for quite a while at Facebook, Google and definitely at hedge funds. Right now, you can make a half million a year or more if you're willing to optimize the low-level code in any of the major AI frameworks. If you publish a major conference paper, 7 figures is pretty easy to attain. You don't have to be in the 0.001% just the top 5%. That's hard work but it's doable. The only thing…
> python-based data scientists who can do little more than port new data to existing models open sourced on GitHub
The data-scientist is the new web-developer.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#67Earlier quoted context omitted.
20% down is a rule of thumb, and a requirement to avoid mortgage insurance, but it is not a requirement for lending. My credit union will do loans of up to 95% loan to value for $1.5M to first time homeowners or 90% loan to value up to $1.5M if you don't meet the first time qualifications. [1] I'm sure other volume lenders in the bay area have similar lending standards and programs. [1] https://www.starone.org/first-…
It's a financial mistake to not put 20% down. Not only are you hit with $500+/month in PMI, you have almost negative equity into the house when you buy it. Meaning if you have to sell on short notice you're either completely underwater having to pay back cap gains, or you're just breaking even. That's not an ideal situation and if you don't understand the mechanics going in, you'll find yourself in a world of hurt in…
If you truly don't have the money for the down payment, the math of mortgage+insurance+property taxes+pmi+deductions might still work out to be in your favor over renting
Re: A.I. researchers are making more than $1M, even at a nonprofit
#68Earlier quoted context omitted.
$200k in the bay area is like $90k where I'm from. It's a decent living, but if you've got a family it's not exactly upper class.
If you have a family it’s not possible. Home prices average close to $1m. You’d have to save an entire years salary PRE tax to afford the down payment. That will take years and years to save. If you’re raising a family you’ll likely need two $200k incomes to afford a house, and even then, it’ll take at least 2 years to save for the down payment. The Bay Area is for college kids and millionaires. That’s it.
[deleted]
Re: A.I. researchers are making more than $1M, even at a nonprofit
#69Earlier quoted context omitted.
$200k in the bay area is like $90k where I'm from. It's a decent living, but if you've got a family it's not exactly upper class.
If you have a family it’s not possible. Home prices average close to $1m. You’d have to save an entire years salary PRE tax to afford the down payment. That will take years and years to save. If you’re raising a family you’ll likely need two $200k incomes to afford a house, and even then, it’ll take at least 2 years to save for the down payment. The Bay Area is for college kids and millionaires. That’s it.
It’s possible. Family of 5 renting (around 3k) in the bay with 100k salary is certainly possible.
Lived like this for over a decade. Now moving onto college.
Re: A.I. researchers are making more than $1M, even at a nonprofit
#70I don't think OpenAI is a nonprofit as they are planning to commercially license their technologies. Ok, they limit investor returns at one-hundred times their initial investment, but I'd hardly call that a non-profit in the sense of the word.