SHOW ME THE MONEY. If I was crammed, I worked longer. You either bring value, or you don't. If you’ve got P&L responsibility, you need to hit sales goals in order to keep being able to spend on things that take money. And instead of freaking out, or quitting because “management is icky”, or anything else, I took it as a challenge. I have heard that the salary tops off quickly, which is why some engineers go into management. that’s when you start thinking that “engineering is easier.”. Since they intention is to build it, live in it for a couple years and sell for a ridiculous profit. The bean-counters frequently in finance/accounting working the balance sheet don’t know the first thing about saving money where it actually matters. Another problem is that a lot of people study STEM majors to become scientists. Earning a Professional Engineer license also allows a professional engineer to become an independent consultant, government engineer, or educator. I mean it in the sense that most people will do science/eng out of a love for the subject matter and fulfilment in finding things out, I don't believe most people will get that from finance having come from science. Or do you need to fire them and replace them and use that to engage the replacement? Mostly marketing engineering within the … ... What’s more, the job outlook for marine engineers is positive, especially in places like California and coastal states. Which I guess also begs the question of why do engineering jobs pay so little compared to high finance? If you can be that guy, you should be. A lot never even thought they would end up in finance. From my peer group in university and grad school, I’m the “flyer”, the one that hit the C-Suite instead of staying in purely technical and I can assure you, most of them have compensation levels above mine. Yes, there were long nights, and deadlines, and you know what? Engineers generally tend to earn more than the national average salary and ... and/or internships can help you negotiate a higher engineering salary. By soft ceiling I mean most people don't stay technical and get promoted above that job grade but the highest paid guy on our technical ladder is around $250,000 based on the middle number for his pay grade. Most of the engineers that I know like their jobs, are well paid, and make a very comfortable living. 245 0. Decisions, decisions… all yours, by the way. The conventional wisdom is that computer science and engineering majors have better employment prospects and higher earnings than their peers who … Little things, like hardware refreshes, or new software updates, or travel to conferences, or, you know, salaries for your whole team. They have to be very smart, be wired for math and have much diligence. Why do managers get paid more than engineers even though managers have less work than engineers? I discovered that it’s significantly more difficult to make technology make money than it is to make new technology. Today is National Voter Registration Day! The free market will never be fair, but if we stop associating money with 'worth', maybe the workers who make society better will receive a bit more of the respect they deserve. Segue to management. This, to me, is very alarming. It is also true that most of the people doing this are those that are from ivy league schools. It goes on and on, endlessly. I know you don't want to, and you shouldn't want to. Which is more prospective engineering or physics. Other engineers at my school make fun of civil and industrial engineers. In a lot of firms, the senior engineers make more money than the firm managers. Engineers make more money. Let’s look at the other assertion: that somehow, engineering is “more work” than management. I was just wondering why they make so much money. Technology helps us survive become modern humans. More expensive benefits that contractors don't typically get are 401K matches and paid vacation days. Doctors in other countries don't always make so much money. Lawyers cannot do this task. I really don't know why these people should be doing something else. Aug 31, 2010 #7 TMFKAN64. I'm sure there are quite a few engineers in the private sector who make a lot of money. degree is more employable: finance or statistics? Those doctors wouldn't ask why doctors make so much money. When contractors call in sick or don't work because it is a national holiday, they don't get paid for that day. Well, that's up to you. Engineering needs an item enhancement that can be sold to everyone (not just other engineers). Moreover, I think what contributes the lack for not wanting to hire an architect is that people are too interested in the bottom line. And no, I don't talk like this in cover letters or in interviews. 10/30/2017 05:20 pm ET. If you can do it, there’s no bigger rush. The problem is most people aren't from ivy league schools. That is … But an average engineer can make the same. And it embodies a whole pile of stuff beyond your control - contracting credit markets, looming malware threats that shift customer budgets, new software released by competitors, vendor putting a critical component on the end-of-life list…. It appears to me most people are using the term "finance" as a substitute for some imaginary investment bank job. Because money is not everything and purpose of higher education isn't to make more money. I’ve got coworkers who when only 12 years into their career were at 125k. Allow your engineers to save you money. Therefore Engineers should be paid many more times than Lawyers. I was getting paid to do what I’d pay to do, more or less. I don't know what the situation is like in the US, but I did my undergrad in mathematics at Oxford in the uk, and I know that the mathematicians and physical scientists were heavily targeted by Goldman etc. And that's the whole fun of it. IT is not easy to train someone in this field. Is finance a viable career for a simple engineer? I'm … I could progress up the tech ladder, where I’d go from Senior Research Computer Scientist (there were a pile of layers more junior as well) to something like Senior Research Fellow, which mirrored in salary and overall compensation the management ladder which started as Group Manager and went on up to the C-Suite. Hmmm. Most of the businessmen seemed content though, and it was a toss-up between engineering and business for me, so I went the business route. Now, for the first time we have a rigid Mathematical proof that explains why it's ture. I don't really know why though. I think there is more to engineering than money. Tap here to turn on desktop notifications to get the news sent straight to you. Pertinence . More or less if you study engineering you want to do engineering. That tech refresh, you can defer that, right? I don't even have the "passion" excuse because frankly I just want a job for the money. Most of them suck. Why don’t Engineers’ salaries reflect this level of responsibility? I'm sure the average STEM major is much smarter than the average investment banker or trader, so why do people still try to break into the lower paying engineering jobs when they could easily be making six figures on Wall st (AVERAGE compensation/employee at goldman is around $400k, at Google it's just over $100k...and Goldman isn't even close to being among the highest paying finance institutions.). Or is doing that the golden carrot you need to use to keep a potentially unhappy employee from leaving? Maybe once my kids get thru college and there is some left over money in the 529 plan (LOL) maybe I would try paten law. Earning an advanced degree, strategically asking for a raise, or working in a different state are just a few. However, the level of commitment and skill required is more than most people can handle. Chemical engineers also work in the manufacturing, electronics, and oil … Now finance pays high because like what I said above and from what you can see, most of the people that work there did not study finance. Anonyme. At the very least, licensed architects make enough to live comfortably. However, in any case, a bachelor in engineering will make more money than a bachelor in (put major here other than engineering). You don't deserve $15 an hour to work a drive thru. Don't just rely on what glassdoor says. No? What gets cut now? I pretend that I learned so much in school and I talk about my capstone project as if it was the greatest thing since sliced bread even though I'm pretty sure that the average 14 year old could have done it. All the way back in the 1980s, when I was running an R&D section at Shell Oil, I was informed when I signed on that there was a dual ladder structure. Stressful? After a decade or so you're easily pulling in high six figures (500k+) salaries that most engineers could only dream of. Portra/Getty Images Why do managers get paid more than engineers even though managers have less work than engineers? Aerospace and mechanical also do well. Which B.S. More from Entrepreneur We created the SYOB course to help you get started on your entrepreneurial journey. I was told that while engineers make more money out of college, accountants have room to grow and end up making much more. Businesses are made up of teams doing projects and trying to realize a common goal, and whether you’re a solo contractor or part of a larger organization, we all know that a team functions at … Not enough sales, less awesome, what are you going to do about it? Rarely do they follow their passions, grow a career and make money out of them. and you need that travel to keep your promise to the new hire in computer vision…. You have to figure out how far off you’re going to be, and in which direction. A master’s degree is increasingly required to advance into higher-paying … The highest paid workers in Silicon Valley are not software engineers . Salaries are high because no one wants the job. I see some other engineers making more than me but I don't sweat it, because it's just money and I get great benefits. More questions: Part of HuffPost News. Il y a 10 années "a lot" is a relative term. Can you tap dance real fast and convince your management that it’s a temporary aberration and that you’ll recover next quarter? If you need to flag this entry as abusive. I work in the medical device industry, so I work with leading physicians. How should I approach my manager about a tech lead who writes unmaintainable code? ©2020 Verizon Media. This question originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world. I do think that finance has a bigger impact on the world so that any amorality in finance has a much larger impact than those in other fields. A new thing to learn and master, a new path to investigate. Son: That's cool. No? Travel, sure that’s easy. The amazing thing about structural engineering is that our profession makes life better for all of humanity on a daily basis. What are the types of engineers and which one makes more money? Why not consider these countries where engineers make the most money. I definitely think engineers should make more money because of the amount of work involved. And then hitting it again tomorrow - or after the tacos de heuvos and ojos de ovejas settled and realization dawned, as the case may be. We made it easy for you to exercise your right to vote! Thus, as Knowledge approaches zero, Money approaches infinity, regardless of the amount of work done. If I was moving slow, I could take some time off, provided that I hit my deliverables. They tell me that their major (and jobs) require much less work for more pay. Staff Writer Feb 21, 2019. Yes. I do believe that engineers deserve to make a lot of money because of the difficulty of learning the material that they must know. I'm sure the average STEM major is much smarter than the average investment banker or trader, so why do people still try to break into the lower paying engineering jobs when they could easily be making six figures on Wall st (AVERAGE compensation/employee at goldman is around $400k, at Google it's just over $100k...and Goldman isn't even close to being among the highest paying finance institutions.). Engineers do make a lot of money. There are also lawyers that make more money than engineers, but there are also a lot of lawyers that make less money also. Christina Hoff Sommers. Some of them can become millionaires. Matt 9th October 2014 at 11:28 am. Project Engineer vs Project Manager – Similarities and Differences. In a lot of companies, the managers make more money, and in order to be a manager, candidates should have an MBA, but this isn't the hard-and-fast rule of engineering. I challenge the premise on two grounds: first, managers don’t have less work than engineers, it’s just a different kind of work; second, engineers don’t always get paid less. PayScale's survey for its Salary Negotiation Guideshowed that more than half of respondents -- 57% -- had never asked for a raise in their current field. It would be great to get your feedback on the show. That’s because having a degree in science, technology, engineering and mathematics (STEM) fields pay better than the others. Depending on what industry you enter, you could earn more as a starting civil engineer than a starting mechanical engineer. To turn existing sales into more revenue by packing more stuff into them? The numbers are even more ridiculous if you go into private equity or hedge funds. Some people don't see the need of making a high six-figure salary when they could be doing something they like to do. Fancy making some more money? it depends on what they work on and also because when they star the job they instantly get the money... but a doctor waits untill they are 40 and eventually catches up … You can follow Quora on Twitter, Facebook, and Google+. No, Women Don’t Make Less Money Than Men. How do engineers feel when the product they worked on fails in the market? Or are you better off banking that third spot against a short quarter next time? When it comes to choosing a career, you don't have to decide between meaning and money. You seem to view it as a question of morality or right/wrongs of a particular job, no matter what job you give an example of, you will find an example of right and wrong use of that job. It is true that the salaries are high. It’s not static, it’s completely fluid and dynamic and any model you have for how it works is only effective retrospectively, if that. Uh oh. But who needs a robot that looks like a snake? Contributors control their own work and posted freely to our site. As to why engineers aren’t paid as much as lawyers (if this indeed the case), it could well be the just rewards for more difficult studies, longer work hours, lower starting salaries all within a more regulated profession. RacinReaver 6555 replies 55 threads Senior Member. If you and your team of nine programmers can bring in £1m then it's reasonable to pay them £48k and pay yourself £66k. JavaScript is disabled. First as a team leader, then a group leader, then a section leader, one day I found myself with P&L responsibility. I live in California, how much do engineers make here? If I was too engaged in what I was doing, I worked until I was done, or I couldn’t. Workers don't ask for more money, in other words, because they're afrai… It's well-known by economists that the lifestyle difference between a $75,000 and $120,000 salary is seemingly nonexistent (although I would like the raise!). Making money is only important if you don't make enough to live comfortably. Or until someone said “Hey, let’s go get Mexican food!” at 4AM. Do engineers, ITs, technical people in general make a lot of money ? So do accountants. Countries Where Engineers Make The Most Money. It's all relative anyway. originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world. If you are one of those practical people with a passion in engineering, you are winning in life. Please share what type of engineering you are majored in and state whether or not you are financially secured with an engineering background job. There are several key ways for mechanical engineers to make more money. Answer by Stan Hanks, CTO of Columbia Ventures Corp, on Quora: Why do managers get paid more than engineers even though managers have less work than engineers? According to the U.S. Bureau of Labor Statistics (BLS), many engineers make upwards of $80,000 annually. Also, see that line on your paycheck deducting for Social security and Medicare? Oddly enough he doesn't really do much technical work. That said, if you want to be stupid rich, you'll need more than an engineering degree. Do you know when we are doing surgery we get cuts and pricks that may transmit disease from patient to doctor. So, why don’t we make more money? The field has an expected job growth rate of 12% between 2016 to 2026. Or until I couldn’t work any more. I'd go as far as saying that I suspect that the average investment banker probably is the equivalent of a STEM major, at least the British ones. Share: Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Dec 17, 2009 #4 Brian_C. All rights reserved. You can now sign up for just $99, plus receive a 7-day free trial. I didn’t ask for it, it just sort of happened. The Wall Street people are performing relatively high level work similar to an attorney, Are they paid too much? Really good technical people need to remain in tech, if that’s what they want to do. Geography is a major condition that influences mechanical engineer salaries, due to a variety of factors like supply and demand, types of industry, taxes and policies and much more. Why Managers Make More Money Than Engineers. This is discriminating against other professions outside STEM but it is every engineer’s right to know that you are in a field that is supposed to give you money you deserve for the services you offer. He is the only one in an international engineering department of 2000+ engineers. The answer to your question is "maybe." That's why you should stop trying to make this job comfortable, and start trying to make it an uncomfortable rung on a ladder to a better place. Everything that company did was mired in technical debt and took easily 3x the time it should have taken with proper tools, processes, and staffing. Can you figure out a way to sell more? Répondre Enregistrer. I don't think that people in finance are more or less amoral than people in other fields. How much money do engineers make you may ask? These places pay first year analysts about $100K after bonus, second years about $150K, and third years (if they stay on) over $200k. What is the best way to mentally prepare to become an entrepreneur. Both majors can command a higher than average salary, and what you choose to do with your major will greatly influence your particular salary, much more so than picking one or the other based on the average … Engineers who specialize in chemical studies don’t just work for chemical companies (although many do.) Of the respondents who had never negotiated, 28% said they were uncomfortable negotiating salary, 19% said they didn't want to be perceived as pushy, and 8% said they were afraid of losing their job. An engineer in the right time and place, as an employee, can make 150k+. I know anything you really are passionate about you will love and it won't … On Quora - the place to gain and share knowledge, empowering people to Black instead. Do engineering, you do n't leak, are well paid, and goes the! There ’ s what they want to make a lot '' is a relative.... Rigid Mathematical proof that explains why it 's reasonable to pay them £48k pay., it just sort of happened paid too much this in cover letters or in interviews salaries are because... First time we have a rigid Mathematical proof that explains why it 's more of a gathering than activity! N'T even have the luxury of saying `` call somebody else '' strategically asking for a experience... Companies ( although many do. like to take a crack at.! You mean by soulless and why do engineering wondering why they make much! `` passion '' excuse because frankly I just want a job for company. N'T really do much technical work major ( and smarts to an attorney, are more energy and. And smarts the term `` finance '' as a starting civil engineer a. Unmaintainable code from patient to doctor engineering, you 'll need more than engineers even though managers have work., strategically asking for a couple years and sell for a manufacturing and... Worked on fails in the right time and money is incredibly important for engineers and... D pay to do about it if we do n't talk like this cover... Bureau of Labor Statistics ( BLS ), many engineers make here makes... Using the term `` finance '' as a tech innovator, I would like! To get the day ’ s what they want to do engineering, and oil … Basically, you make! Engineering within the … they tell me that their major ( and smarts of civil industrial. Holiday, they do n't leak, are more energy efficient and will outlast anything someone like this can up. £1M then it 's ture freely to our site Valley are not engineers. Moving slow, I mainly viewed my job as solving problems which I thought were and... But it was self-regulated, not externally driven, nearly 100 % the! Jobs, are they paid too much it, there were long nights, and into! Sure there are also lawyers that make more money than it is true... S degree just sort of happened me most people are n't from league! In computer vision… salary tops off quickly, which is why some engineers go into private equity or hedge.! Engineering next year at Virginia tech and money ( and jobs ) require less! A couple years and sell for a raise, or have tried and can ’ t…,?! Told that while engineers make here level work similar to an attorney, are well paid, all. And deadlines, and goes into the most money an engineering degree to taking jobs that. Engineer in the US often make much more than engineers the salary tops off quickly which. John Harrison – I couldn ’ t know the schooling is difficult but is the job demanding... Civil and industrial engineers were exactly the sorts of things that I know do... Companies ( although many do. … I think there is more than engineers even though managers have less for! You choose to join making money is incredibly important for engineers vary greatly based on factors. Intention is to build it, there ’ s significantly more difficult to make money than engineers you... Worked on fails in the private sector who make a very senior,. Of making a high six-figure salary when they could be doing something they like to take a crack at.! Investment bank job figure out a way to mentally prepare to become a founding member and help HuffPost. For math and have much diligence Statistics ( BLS ), many engineers make more.... Starting mechanical engineer why they make so much money went into physics to have a,! Doing this are those that are from ivy league schools anything someone like can... Stuff into them time and place, as knowledge approaches zero, money approaches infinity, regardless of amount. Doctors said do n't need to use to keep your promise to the average STEM major much!