Do engineers make good money (relatively speaking)?

Question

Do engineers make good money relative to other professions that require college education?

I'm current studying civil engineering, and this is an important question for me. Most of my buddies are majoring in business/finance/economics. They tell me that their major (and jobs) require much less work for more pay. I'm aware engineers get a fancy starting salary but it seems like their careers plateau quickly while people in finance move to the top of the business hierarchy. This, to me, is very alarming. Although I find engineering pretty cool, I also want to make a very good salary.

So I guess my question is for practicing engineers (or ppl who know an engineer). Do engineers get to live comfortably? Is the work load unbearable at times? Is the industry stable?

It would probably help if I gave some info on my plans: I'm majoring in civil/structural engineering and I plan to pursue an MS in aerospace engineering w/ a focus on aerospace structures/materials. So if all goes as planned, I will end up working as a structural engineer in the stress analyis / structures department on an aerospace company.

Answer 1

Engineering is a great hobby and a lousy profession. That is what I was told in engineering school. Engineering is a great deal of fun and the work is truly useful to society and engineers reap great satiisfaction from their activities. After 35 years of experience, I am in the top 1 percent of wealth in North America. Is that enough? Now I spend more time managing my money than I do engineering and I can tell you that it is no where near as much fun.

Answer 2

An engineer will make more money then someone who hasn't done the training and degree course, however ultimately they don't make as much as other professions who have also done a degree course.



For the responsibility of the work an engineer (as opposed to the technicians who build the engineers designs) does they are underpaid. There is competition in the engineering market and that keeps the wages lower than they should be - but most engineers do enjoy the job and accept the salaries. You will make a good salary but it does not match the work - however the job enjoyment makes up for that.



The industry is very dependent on the economy generally - in a down turn less is made and there is less demand for goods so less is needed to be designed - hence the work drops off (like at the moment). The work load depends on the sector you work in and the company you work for - in every job some times you will need to work hard. With engineering you might get overtime half the time.

Answer 3

Your buddies, if they get a job, will make more than you will. You should be able to make a comfortable living as an Engineer. You're additional detail is backwards. It's "Is giving up Engineering for business/management worth the extra money?" That fact is that management will make more, but you can make that decision later. I've seen several Engineers get MBA's or law degrees (patent lawyer), make a crap load of money and be happy. I've also heard veteran business people sympathize with Engineers on how under paid they are, not understanding why they would put up with it.



As for surviving in industry: Good Engineers know how to adapt and can pull through the worst of times. But I think that is the same for MBA's and the like.



So, if you have a passion for your field (had to write it) continue with Engineering. Even if you go on to get an MBA or law degree the background will just make the prize at the end all that much better. I've never heard of someone going the other way (Engineering after MBA, etc).

Answer 4

Yes, engineers make better money on average than the business majors do, sadly. Your buddies are being a bit unrealistic about their own prospects, as is common. SOME business majors will go on to successful big-money careers of course, but so also with engineers. That doesn't happen to most, just to the few with the right combination of talents and luck. Not every finance major becomes a Wall Street millionaire, just as not every engineer founds a tech company or becomes a high-paid consultant or executive. An advantage to being an engineer, you can later go get an MBA, and then you have just as credible business credentials as any of your B-school pals. OTOH they won't be able to go back and develop engineering credentials without starting over. Ultimately if you want to make BIG money, it won't be as a staff engineer. But if you have the right talents you may work your way up to an executive position or decide you can start your own company. The BIG money is in equity -- owning your own firm or getting lots of stock options in a public company. Any business major would be needing to do the same sort of thing to make lots of money.

Answer 5

Your buddies are quite wrong. A Bachelor's degree in business (finance would fall under business) will not earn them more money than you will with your engineering degree.



The business degree prepares them for management positions, but they will have to start at a lower position and work their way up, i.e. the degree will give them a huge advantage over fellow coworkers when shooting for promotions. Some business students are a bit more motivated and get unpaid internships early which they hold all through college and upon graduation have a management position waiting for them. But in this economy, paying internships for business students are virtually nonexistent. However, virtually every engineering internship is paid, and paid quite well might I add (they start anywhere from $10-$25/hr, a better "college job" than any of your friends will have!). I don't even have my engineering degree yet and my internship has turned into almost a full time job (made about $35,000 last year, part-time and still in college!) and they will be starting me at around $60,000 a year once I am a full-fledged engineer. A business degree will not guarantee as high of a starting salary.



Also, the demand for business degree graduates is elastic with the economy. The demand for engineers hardly ever diminishes to any noticeable extent. With your engineering bachelor's degree, you are guaranteed a job somewhere upon graduation, even without any internship experience. Show up to an interview with a bachelor's in business, and they'll tell you they've got a dozen MBA applicants ahead of you. You will probably end up settling for a job you don't like or lower pay than you expected.



I don't know what source you got your engineering salary information from, but they definitely do not "plateau quickly". In fact, most of the executives of manufacturing companies started as engineers. Business majors (especially finance and accounting) have little variety in their duties and often are stuck doing boring repetitive paperwork and mind-numbing meetings.



I know this is horribly biased toward engineering, but I am only answering your question as truthfully as possible. Several of my lazy friends left engineering for business and have had a hell of a time finding a job since graduation. But the key factor in success in any field is professional business and communication skills; I can't stress that enough. Pair an engineering degree with excellent communication skills, you're set.



If passion for your field is not important, stick with engineering. If you're mathematically inclined and properly motivated, don't waste that on a business degree. An economics degree will usually beat out business majors, but only if you are mathematically inclined. All my economics major friends are also at least minoring in math, most double major though and plan to get a master's right after their bachelor's. You would make as much or more with your bachelor's in engineering.



Anyway I've rambled long enough. If you're good at math, please stick with engineering. You will have a much higher and CONSISTENT income, and with your MS in Aero, you are golden. Even after a bachelor's in engineering, you can still go on to get an MBA or a JD (in fact, law school applicants who got their bachelor's in engineering actually have an advantage over most others!)



Don't give in to peer pressure! Your business major friends may be having fun partying in college now but your hard work in engineering now will provide a better life after college.



Whatever you choose, good luck and give it all you've got!

Answer 6

All jobs are vital and there isn't inferior job with any university course especially if you have excelled. Sincerely depending with the job market, engineers are well paid if the market is competitive and many people arent engineers. I am currently doing degree in economics and statistics and for sure I know to get a job is easy as there are many firms. So depends on your countries level of industrialization n expertise

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