Introduction
Mechanical engineering is one of the most popular and versatile disciplines in the engineering field. It involves the application of physical principles for the design, development and operation of machines, tools and other mechanical systems. As such, it offers a wide range of career opportunities, from research and development to product design and manufacturing.
In terms of remuneration, mechanical engineers can expect to earn competitive salaries. How much money does a mechanical engineer make? This article will explore this question by examining the average salaries for entry-level, mid-level and senior mechanical engineers, as well as the highest paying industries and companies for mechanical engineers. Additionally, strategies to increase your earnings as a mechanical engineer will be discussed.
Average Salaries for Entry-Level, Mid-Level and Senior Mechanical Engineers
According to the U.S. Bureau of Labor Statistics, the median annual wage for mechanical engineers was $86,640 in 2018. The lowest 10 percent earned less than $56,660 while the top 10 percent earned more than $129,450. This means that the average salary for a mechanical engineer falls between $57,000 and $130,000.
Entry-level mechanical engineers typically earn an average salary of $68,000. With experience and additional education, salaries can increase to $90,000 for mid-level engineers and up to $128,000 for senior mechanical engineers. These salaries may vary depending on the industry and location.
The level of experience and education, the type of employer, and the geographic location all play a role in determining a mechanical engineer’s salary. For example, engineers with a master’s degree or higher tend to earn higher salaries than those with only a bachelor’s degree. Additionally, engineers employed in the aerospace and defense industry tend to have higher salaries than those working in other sectors.
Highest Paying Industries and Companies for Mechanical Engineers
As mentioned above, certain industries offer higher salaries to mechanical engineers. According to the U.S. Bureau of Labor Statistics, the industries with the highest median wages for mechanical engineers are aerospace and defense, oil and gas extraction, scientific research and development services, and computer systems design.
When it comes to the best companies for mechanical engineers, some of the highest paying include Apple, Boeing, SpaceX, Raytheon Technologies, Lockheed Martin, Northrop Grumman, and General Electric. These companies offer salaries ranging from $82,000 to $140,000.
Strategies to Increase Your Earnings as a Mechanical Engineer
If you are looking to increase your earnings as a mechanical engineer, there are a few strategies you can use. One of the most important strategies is to pursue additional education and certification. Obtaining a master’s degree or a Professional Engineer license can significantly boost your earning potential.
Another strategy is to network and negotiate. Establishing relationships with hiring managers and recruiters can help you find better job opportunities and higher salaries. Additionally, you should practice your negotiation skills so that you can get the highest salary possible.
Finally, professional development is key. Keeping up with the latest trends in the field and developing new skills can open up new opportunities and help you command higher salaries. Additionally, joining professional organizations and attending conferences can help you stay informed about industry developments and build your professional network.
Conclusion
Mechanical engineers can expect to earn competitive salaries, with the average salary ranging from $57,000 to $130,000. The highest paying industries for mechanical engineers are aerospace and defense, oil and gas extraction, scientific research and development services, and computer systems design. Some of the top companies for mechanical engineers include Apple, Boeing, SpaceX, Raytheon Technologies, Lockheed Martin, Northrop Grumman, and General Electric. To increase your earnings as a mechanical engineer, pursue additional education and certification, network and negotiate, and invest in professional development.
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