Their high earnings are commensurate with the role’s required technical skills, which are extremely high in demand. Furthermore, many industries are becoming more technical in nature, which also drives up the need for engineers with both unique technical skills and soft skills.
Although the national unemployment rate is at an all-time low, many industrial employers report being unable to fill a high number of open engineering positions. Known as the skills gap, hiring managers and CEOs attribute this disparity to a lack of qualified candidates. Engineers are well paid to aid in recruitment and to recognize their unique skill set in the industry.
The Impact of Continuing Education on Salary
Once they're out of school and working, one of the biggest challenges engineers face is keeping up with the fast-paced evolution of technology and industry.
To maintain relevancy and sharpen their competitive edge, many engineers spend a portion of their careers expanding their knowledge and skillsets through continued training and education, including college courses, seminars, and conferences.
While even just a bachelor’s degree in engineering is a worthwhile investment, higher degrees carry greater earning power. For example, according to PayScale, the median salary for a mid-level mechanical engineer with a master’s degree is $97,000, with an average salary of $93,000, and a range of $75,000 to $127,000.
There are also a wide variety of certifications and licenses that engineers can obtain, such as a Professional Engineer license, which yields a median salary of $96,000.
Future Outlook
In the Architecture and Engineering section of their Occupational Outlook Handbook, the USDL predicts that engineering jobs will increase by 7% between 2016 and 2026, meaning that not only is the engineering field a massively lucrative one, it’s also teeming with opportunity.
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