Some of the highest paying careers in the world are found in engineering. In fact engineering is one of the most lucrative and in demand career choices a school leaver can make. With salaries often exceeding 100k per year once the engineer has some experience behind them. Engineers earn more well in excess of the national average salary and this is only set to continue in the future. In fact Engineering degrees make up 10 of the top 17 highest paid degrees at the time of writing.
The reason for this is simple, engineers are in high demand. This is fairly standard across all engineering disciplines. In fact almost half of all engineering positions are unfilled.
Here are the current six highest paid engineering careers available and how the future looks for each.
The median starting salary for petroleum engineers is $97,900. Industry groups anticipate many employees will retire in the next decade, just as the global demand for energy is increasing. The demand for petroleum engineers is expected to exceed the number of individuals trained to fill available positions increasing demand. Internationally and domestically this demand will advance the careers and the salaries of petroleum engineers. A mid-career salary in the neighborhood of $155,000 can be expected. There are a number of degrees available for those interested in pursuing petroleum engineering including training online.
The median starting salary for chemical engineers is approx. $64,500. Chemical engineers are typically employed in the areas of manufacturing and research. They work not only for chemical companies, but also work in the manufacturing of electronics, clothing, paper, medicine, and food to name just a few.
Chemical engineers can advance their careers from manufacturing plants to technical sales and company management. The market for chemical engineers is expected to be reasonably flat over the next few years. Job growth, however, in closely-related fields, such as biomedical engineering, is expected to be much faster than average job growth according to the US Department of Labor. A mid-career salary of $109,000 is the average.
Newly-graduated electrical engineers have a median starting salary of $61,300. Many electrical engineering jobs are tied to designing, testing and supervising the manufacturing of electrical equipment. Job growth in these areas is expected to be around 6%, a rate lower than average, through the rest of the decade.
Mid-career salaries for electrical engineers are in the neighborhood of $103,000.
The median starting salary for a materials engineer is $60,400. Materials engineers work at developing and testing materials used in the production of industrial and consumer products. Until the year 2020, the job growth for a materials engineer position is expected to be around 9% with a mid-career salary of approx. $103,000.
A new graduate with a degree in aerospace engineering can expect a starting salary in the range of $60,700. With cutbacks in space exploration the Department of Labor expects that the need for aerospace engineers will grow at 5% over the next few years, a slower pace than the average job market. A mid-career salary for an aerospace engineer is $102,000.
The median starting salary for a computer engineer is $61,800. This is a relatively new field of engineering and some sources say that there are not enough computer engineers to keep up with demand while other sources say that the job growth for computer engineers will be below the national average. As schools start producing more computer engineers, the job growth rate could potentially slow.
It is also a fact that most technological breakthroughs are coming in the area of software and not computer hardware. A computer engineer can anticipate earning a mid-career salary of $101,000.
If you are looking for a stable and enriching career It’s important to not only consider the highest paid engineering jobs available, but also the engineering fields with the best potential for advancement and employment opportunities. In industries where demand outstrips availability you will find the highest potential earnings along with job security.