How to Make 6 Figures As A Machine Learning Engineer? (11 Best Ways in 2024)
So you want to make six figures as a machine learning engineer? Good for you! Being a machine learning engineer is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a machine learning engineer - business ideas you can start to achieve such income. Keep reading to learn more!
1. Become an affiliate marketer ($55.3K/month)
As a machine learning engineer, you could leverage your analytical and technical skills to excel as an affiliate marketer, promoting products and services related to your field. By using data-driven strategies and optimizing marketing campaigns, you could increase your referral sales and earn commissions, supplementing your primary income without significant upfront costs.
Starting an affiliate marketing venture requires minimal investment and utilizes your existing expertise. You could join affiliate programs, gain unique tracking links, and drive traffic through insightful, targeted content, ultimately creating a steady side income. This entrepreneurial approach could help you reach a six-figure salary by diversifying your revenue streams.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
2. Digital products ($242K/month)
As a machine learning engineer, supplementing your income with digital products could be a highly lucrative route to reaching six figures. Given your technical expertise, you could create software-based products such as specialized apps, machine learning algorithms, or custom scripts that solve specific problems. These products can be easily marketed and sold through platforms geared toward tech professionals.
Alternatively, you could develop and sell information-based products like comprehensive online courses, detailed eBooks, or even subscription-based membership sites that offer in-depth tutorials and advanced techniques in machine learning. By leveraging your industry knowledge, these products could attract a steady stream of customers eager to enhance their skills.
The beauty of digital products is their low overhead and ease of distribution. Without the hassle of physical inventory, you can focus on creating high-quality content and scaling your business effectively. This approach not only diversifies your income streams but also offers the potential for passive income, making the journey toward six figures both attainable and sustainable.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
3. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could help you make six figures as a machine learning engineer by leveraging your deep technical expertise into high-demand written content. Your specialized knowledge can be a valuable asset in creating articles, tutorials, whitepapers, and reports for tech magazines, online platforms, and corporate blogs looking to demystify complex subjects for their audiences.
Freelance writing offers flexibility, allowing you to work from home and schedule your writing projects around your primary job responsibilities. The steady demand for quality technical content ensures you could monetize your unique insights and skills effectively. With strong writing skills, the ability to meet deadlines, and staying updated with the latest writing tools and trends, you could turn freelance writing into a lucrative side business or even a full-time venture.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
4. Create an online course ($82.8K/month)
Creating an online course could be a powerful way to supplement your income and reach six figures as a machine learning engineer. By identifying educational gaps and leveraging your specialized knowledge, you could develop engaging video lessons and supplementary materials that cater to both beginners and advanced learners in the field of machine learning.
This entrepreneurial venture has the potential to generate passive income with flexible, self-paced, or cohort-based structures, giving you the freedom to work on your own schedule. Given the rising demand for accessible education on emerging subjects, an online course could provide a lucrative channel for monetizing your instructional expertise with minimal startup costs.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
5. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a lucrative way to supplement your income as a machine learning engineer and help you reach six-figure earnings. By leveraging your expertise and experience in the tech industry, you could attract clients looking for personalized guidance on navigating professional transitions and growth opportunities. You could offer custom sessions focused on resume building, interview preparation, and workplace advancement tailored to each client's goals.
With flexibility for in-person or virtual meetings, you could build a diverse client base and provide specialized advice and accountability, empowering your clients to achieve significant breakthroughs. This business venture could also allow you to monetize your speaking talents and human resources expertise, all while setting your own schedule and maintaining a rewarding side income.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
6. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a fantastic way to supplement your income as a machine learning engineer. By sharing your expertise through tutorials, project walkthroughs, and industry insights, you could attract viewers interested in learning more about machine learning. With quality content and consistency, you could build a loyal audience, which is essential to join the YouTube Partner Program and start generating ad revenue.
In addition to ad revenue, you could capitalize on your growing viewer base through sponsored content, affiliate marketing, and even offering online courses or consulting services. YouTube’s established monetization system, combined with its vast popularity, makes it an excellent platform for turning your knowledge and passion for machine learning into a lucrative side business. While building a successful channel takes effort, the potential rewards make it worth considering.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
7. Start an ecommerce store ($287K/month)
As a machine learning engineer, supplementing your income with an ecommerce store could be a lucrative venture given the booming state of online shopping. Leveraging the low overhead costs and extensive reach of ecommerce, you could sell niche products or specialized services that cater to the growing demand for convenience and efficiency in consumer purchasing behavior.
An ecommerce business allows you to capitalize on your technical skills to create a streamlined, user-friendly online shopping experience, thereby attracting a broader customer base. By integrating sophisticated payment processing, shopping cart, and inventory tracking software on your website, you could efficiently manage sales and customer interactions, ultimately steering your side business towards six-figure success.
Considering the flexibility and scalability of ecommerce, this side hustle could potentially evolve into a full-fledged business, offering a sustainable income stream alongside, or even surpassing, your primary role as a machine learning engineer.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
8. Become a social media influencer ($57.4K/month)
Starting a social media influencer career could significantly supplement your income as a machine learning engineer. Leveraging platforms like Instagram, YouTube, Facebook, and TikTok, you could create content that merges your technical expertise with engaging visuals and explanations. Given the high demand for knowledgeable voices in the tech industry, particularly in the field of machine learning, you have the potential to build credibility quickly and attract a vast audience.
Brands are constantly looking to partner with influencers who can connect with their target audience, and with your specialized knowledge, you could secure lucrative brand deals and sponsorships. Creating content focused on machine learning tutorials, industry insights, and career advice could position you as an authority in the space. With the right strategy, this venture could develop into a substantial side business or even an entirely new career opportunity, helping you reach the six-figure income mark.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
9. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be a lucrative way for you to supplement your income and potentially reach six figures as a machine learning engineer. Leveraging your analytical skills and experience with automation tools, you could create efficient social media marketing strategies that serve clients effectively without demanding excessive time commitments. This flexibility allows you to focus on your primary job while generating additional income.
By developing a strong portfolio to showcase your services, you could attract a consistent stream of clients eager to benefit from your expertise in data-driven marketing. Whether you’re looking to clear utility bills, finance higher education, or save for a vacation, this entrepreneurial venture could provide the financial boost you need.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
10. Start a podcast ($97.9K/month)
Starting a podcast could significantly supplement your income as a machine learning engineer by allowing you to share your expertise with a broader audience, attracting sponsorship deals, and creating monetization opportunities. With minimal initial investment in basic recording equipment and affordable hosting platforms, you could produce content on topics ranging from machine learning advancements to practical application tips.
By promoting your podcast through social media and online communities, you could build a dedicated listener base. As your audience grows, potential sponsors or advertisers in the tech industry could be interested in financially supporting your podcast, leading to additional revenue streams. This entrepreneurial venture could complement your existing career, helping you edge closer to making six figures.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
11. Start a blog ($44.9K/month)
Starting a blog could significantly supplement your income as a machine learning engineer. By sharing your expertise through insightful articles, tutorials, and project overviews, you could attract a large audience interested in the niche field of machine learning—an audience where 77% of internet users read blogs, as reported by OptinMonster. Additionally, with blogs being rated as the 5th most trustworthy source of online information, your expertise could make your blog a go-to resource for professionals and enthusiasts alike.
In turn, this following could be monetized through ad revenue, sponsored posts, and affiliate marketing, potentially allowing you to earn a substantial side income or even turn blogging into a full-time business. Considering that each month, approximately 409 million people view more than 20 billion pages, the audience base is huge, providing a significant opportunity for you to reach and engage a broader audience while working from any location at any time.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
