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As of August 01, 2026, the average salary for a Machine Learning Engineer V in Illinois is $179,518 per year, which breaks down to an hourly rate of $86.
However, a Machine Learning Engineer V's salary can vary significantly. Here’s a look at the typical salary range:
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Machine Learning Engineer V Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $189,583 | $15,799 | $3,646 | $91 |
| Average | $179,518 | $14,960 | $3,452 | $86 |
| 25th Percentile | $164,142 | $13,679 | $3,157 | $79 |
Grainger Management LLC - Highland Park, IL
iHire - Chicago, IL
Until - Mundelein, IL
Paylocity - Schaumburg, IL
A Machine Learning Engineer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, and company size can directly affect your earning potential.
Experience is a primary driver of a Machine Learning Engineer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Senior Algorithm Engineer | 4-7 years | $124,260 |
| Principal Algorithm Engineer | 7+ years | $161,416 |
| Machine Learning Engineer V | 7-10 years | $179,527 |
| Algorithm Engineering Manager | 10+ years | $180,349 |
| Algorithm Engineering Senior Manager | 10+ years | $202,807 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Machine Learning Engineer Vs. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
Machine Learning Engineer V salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $200,960. While startup companies pay approximate $170,007.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $170,007 |
| Growth Stage | 51~500 | $179,803 |
| Established | 501~5000 | $194,063 |
| Enterprise | 5000+ | $200,960 |
For Machine Learning Engineer V roles, the industry you choose can affect earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Energy & Utilities sectors offer the strongest compensation, at 20% above the average. In contrast, Machine Learning Engineer positions in Transportation or Edu., Gov't. & Nonprofit typically offer lower base pay, as these industries often view Machine Learning Engineer V as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $215,422 | $104.0 | 20% |
| Energy & Utilities | $206,446 | $99.0 | 15% |
| Internet | $201,060 | $97.0 | 12% |
| Aerospace & Defense | $197,470 | $95.0 | 10% |
| Pharmaceuticals | $197,470 | $95.0 | 10% |
Understanding how a Machine Learning Engineer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $189,583 | $15,799 | $3,646 | $91 |
| Average | $179,518 | $14,960 | $3,452 | $86 |
| 25th Percentile | $164,142 | $13,679 | $3,157 | $79 |
For a Machine Learning Engineer V, the most direct path to higher earnings is advancing to the Artificial Intelligence Engineer VI role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $201,000 - a projected growth of 12% over your current level.
Ready to take the next step in your career? Browse thousands of current Machine Learning Engineer V job openings on our job board. Use the search bar below to find your perfect match.
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