Impressively, 89% of professional engineers say they are “content to be very satisfied” with their work, and 90% advise young people to pursue engineering as a vocation. But those are just two of the benefits of choosing an engineering career. While there are numerous factors to take into account when selecting a specialization, pay is undoubtedly a crucial aspect of future planning.
Average salaries for engineers are typically greater than those for many other occupations. This is partly because technical skills are in great demand and are needed for engineer employment because our businesses are becoming more and more dependent on technology.
These are the 10 highest paying engineering positions to think about in terms of median income and future growth.
1. Petroleum Engineer
One of the top paying engineering positions is typically held by engineers working in the oil and gas industry. With an “early career” compensation of $94,500 and a mid-career income range of $176,900, petroleum engineers lead PayScale’s list in 2019. As of 2021, the average income for petroleum engineers was $110,000.
2. Electrical Engineer
Earnings for electrical engineers can range from $60,000 to $142,000. These industries have historically had a high demand for engineers. The median annual wage, according to the BLS, is $96,000. To be eligible for a better salary, you’ll probably require an ABET certification, which validates bachelor’s and master’s degree programs in engineering, engineering technology, computing, and applied sciences.
3. Aerospace Engineer
Aerospace engineers can now work in a variety of fields, such as avionics, aerodynamics, and the development of airplanes and missiles. PayScale estimates that the starting yearly pay is $66,300 and the mid-career salary is $113,000. Expect the aerospace business to prosper in the coming decade and hire a tonne of new engineers to bring magic to the moon once more. The industry is buzzing about blockchain in space and commercial flights to the moon.
4. Civil Engineer
Professionals in civil engineering are in high demand in the new decade as well. This is especially true given the infrastructure of the country, which is at best outdated and at worst disintegrating. Additionally, as more and more green environmental practices are adopted globally, occupational growth should continue to climb. Civil engineering newcomers can anticipate starting salaries of $57,500 with a growth trajectory leading to $98,500 by mid-career.
5. Biomedical Engineer
The majority of positions in this field are held by pharmaceutical, scientific data and research, and medical manufacturing organizations, where engineering and medicine collide. The reason biomedical engineers get such substantial salaries is that they are responsible for every major medical achievement in a field that depends on them. Salary for biomedical engineers begins in the $50,000 level and rises to over $100,000 by the middle of their careers.
6. Mechanical Engineer
A mechanical engineer might anticipate using their skills in a wide range of industry occupations because the field is large and in great demand. The domains of material sciences, structural analysis, electrical, dynamics, and thermodynamics are among the areas in which mechanical engineers can specialize. With starting compensation of roughly $64,000 and a mid-career average of $108,000, the average wage is currently $84,000.
7. Industrial Engineer
An industrial engineer specializes in the production and manufacturing sectors, and many of them are now venturing into the environmental field to help businesses “go green” and adhere to environmental regulations relating to construction, anti-waste, and other areas. Industrial engineering salaries typically range from $64,000 to $84,000 throughout the course of a career.
8. Computer Science Engineer
The fact that the technology industry employs a large number of computer engineers is not surprising, but in contrast to other engineering specialties like manufacturing or industrial engineering, the high-tech engineer is a relatively recent notion that has only developed over the past 50 years. The demand for new computer engineers should increase in the next few years as a result of the development of cutting-edge technologies like artificial intelligence, robotics, machine learning, and the internet of things, among others.
9. Chemical Engineer
Chemical engineers work for a variety of employers in addition to chemical firms (although many do.) In addition to many other industries, chemical engineers also work in the manufacturing, electronics, and oil and gas industries. For rookie chemical engineers, pay is competitive at $70,000, and compensation growth increases to roughly $125,000 by mid-career. According to the U.S. Labor Department, the median annual salary is $104,000, and job growth is predicted to increase by 6% between 2018 and 2028.
10. Ocean and Marine Engineer
Even though there aren’t many marine engineers (about 500 students graduate with degrees in marine engineering each year), those who do decide to pursue a career in the ocean receive excellent salaries. Marine engineers, also known as naval architects, can anticipate earning $92,000 per year, with a 9% faster-than-average growth rate, according to the BLS.
You need the appropriate expertise and credentials to be hired for one of these highest-paying engineering positions. Despite being among the top paying professions, engineering requires a lot of effort due to the intense competition.