How much does an electrical engineer make
Are you curious about the possible pay in the electrical engineering field? You’ve come to the correct spot if you’ve been asking, “How much does an electrical engineer make?” Let’s examine the typical incomes of electrical engineers as well as the variables that affect them.
First Degree of Experience
One of the main factors influencing an electrical engineer’s pay is experience. Engineers at the entry level sometimes make less money than those with several years of expertise. Engineers may frequently earn better compensation as they acquire experience and prove their usefulness in the industry.
The Bureau of Labor Statistics reports that as of May 2020, the median annual salary for electrical engineers was $105,230. However, a number of variables, including industry, region, experience level, and educational background, can have a significant impact on pay.
For instance, entry-level electrical engineers with less than a year of experience may make an average of around $70,000 annually, but those with five to nine years of expertise might make more like $90,000. Electrical engineers with at least 20 years of expertise may make well over $120,000 a year.
Pursuing further education or certifications is one option for electrical engineers to boost their income potential. Electrical engineers with a master’s or doctorate degree may be eligible for better-paying jobs as managers or senior engineers.
Higher pay may also result from earning pertinent credentials, such as a Professional Engineer (PE) license or certificates in specific fields like electronics or power systems.
Teaching
Salary determination is also significantly influenced by education. Advanced degree holders, such as master’s or doctoral degrees, in electrical engineering typically make more money than individuals who only have a bachelor’s degree.
Data from the National Association of Colleges and Employers (NACE) indicates that the average starting income for bachelor’s degree holders in electrical engineering in 2020 was $73,000. But the average beginning income for electrical engineering master’s degree holders was $84,000, and the average starting wage for Ph.D. holders was $98,000.
Moreover, an engineer’s earning potential may also be impacted by the kind of university they attended to receive their degree. Graduates in electrical engineering from reputable colleges or those with robust engineering curricula may get better compensation than alumni from lesser-known institutes.
Location and Industry
An electrical engineer’s income potential might vary significantly depending on the industry in which they operate. For instance, engineers working in the oil and gas, telecom, or aerospace industries typically make more money than engineers in other areas.
As of May 2020, the following industries offered the greatest salaries for electrical engineers, according to statistics from the Bureau of Labor Statistics:
- Manufacturing of aerospace products and parts: $120,380
- Research and development in the fields of physical, engineering, and biological sciences: $117,170
- Generation, transmission, and distribution of electricity: $112,290
Geographical location also matters a lot. Due to regional variations in the cost of living and the need for engineering skills, salaries for electrical engineers might vary dramatically.
For instance, the average salary of electrical engineers is often greater in areas with higher cost of living, such as Texas, New York, and California, than in other states. In comparison to rural locations, metropolitan cities with a large concentration of tech corporations or engineering firms also typically provide greater incomes.
In summary
In conclusion, there is no universally applicable response to the question, “How much does an electrical engineer make?” Instead, a number of factors, such as experience, education, industry, location, specialty, certifications, and firm size, affect the salary of electrical engineers. Electrical engineers may optimize their earning potential and pursue fulfilling careers in the profession by taking these variables into consideration and consistently investing in their skills and knowledge.
