Wiktor Wise
Electrical engineering is a lucrative career choice, with salaries depending on several factors, including location, experience, industry, and company size. Electrical engineers are in high demand, with employment projected to grow by 9% from 2023 to 2023, faster than the average for all occupations. Electrical engineers design and develop electrical systems and devices, playing a key role in creating consumer electronics, solar arrays, semiconductors, and communication technologies. The annual average salary for electrical engineers in the US is $143,384, including a base salary of $107,599 and additional pay of $35,785. Electrical engineers with management roles can earn a median annual salary of $165,370, and engineering professors earn an average base salary of $157,086.
| Characteristics | Values |
|---|---|
| Projected employment growth from 2023 to 2033 | 9% |
| Average number of openings for electrical engineers projected each year from 2023 to 2033 | 19,000 |
| Average salary in 2023 | $117,680 |
| Highest pay | $127k/year |
| Lowest pay | $67k/year |
| Median salary for electrical engineers in management roles | $165,370 |
| Average base salary for engineering professors | $157,086 |
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What You'll Learn
- Electrical engineering salaries vary by location, industry, and experience
- Electrical engineering managers earn more
- Electrical engineers can increase their pay by changing employers
- Advanced degrees can help electrical engineers increase their income
- Electrical engineering salaries are impacted by gender and racial pay gaps
Electrical engineering salaries vary by location, industry, and experience
Electrical engineering salaries vary depending on location, industry, and experience. In the US, the average annual salary for electrical engineers is $143,384, including a base salary of $107,599 and additional pay of $35,785 per year. This additional pay may consist of bonuses, commissions, or profit-sharing. Electrical engineers' salaries are typically more than double the median salary for all jobs in the US.
Location
Electrical engineers' salaries can vary depending on the location. Metropolitan areas with a higher concentration of jobs and location quotients for electrical engineers tend to offer higher wages. Non-metropolitan areas with high employment rates for electrical engineers may also provide competitive salaries.
Industry
The industry in which electrical engineers work also influences their salary potential. Some industries value electrical engineering expertise more highly and are willing to pay higher salaries. Additionally, larger corporations may have greater resources, enabling them to offer more competitive salaries than smaller companies.
Experience
Experience plays a significant role in determining electrical engineers' salaries. With more experience, electrical engineers can take on management roles, which come with increased responsibilities and higher pay. After acquiring four years of experience, electrical engineers become eligible to take the Principles and Practices of Engineering exam. Passing this exam qualifies them for state licensure and higher-paying leadership positions. Electrical engineers with management experience, overseeing junior electrical engineers, can also expect higher salaries.
Furthermore, electrical engineers with advanced degrees, such as a master's degree in electrical engineering, can pursue senior-level positions in universities or research and development roles, which offer higher salaries.
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Electrical engineering managers earn more
Electrical engineering managers earn significantly more than the average electrical engineer. In the United States, the average salary for an electrical engineer is $117,680, while the average salary for an electrical engineering manager is $163,949. Electrical engineering managers with a high school diploma or technical certificate can expect a median salary of $153,424 to $161,446.
The salary of an electrical engineering manager varies depending on several factors, including experience, location, education level, marketing trends, and company size. For example, an entry-level electrical engineering manager with less than one year of experience earns about $156,168, while those with over eight years of experience can expect an average of $161,922. In California, the average yearly salary for an electrical engineering manager is $180,836, while in New York, the average annual salary is $190,000.
Electrical engineering managers are responsible for planning, directing, and coordinating the activities of engineering teams. The transition into management roles often comes after acquiring a few years of experience as an electrical engineer. Electrical engineers can become eligible for higher leadership roles and higher salaries by acquiring a license. After four years of experience, electrical engineers can take the Principles and Practices of Engineering exam and apply for state licensure with a passing grade.
The salary of electrical engineering managers can also be influenced by industry demand and economic growth. Median salaries for engineers in the Pacific region of the United States have increased dramatically compared to other regions. Additionally, certain industries, such as solid-state circuitry, have recorded big gains in salary. Electrical engineering managers can also benefit from formalized performance reviews and enhanced responsibilities, which can lead to annual salary increases.
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Electrical engineers can increase their pay by changing employers
Electrical engineers can also increase their pay by pursuing specializations through online courses or certifications to increase their skill set. Obtaining a Professional Engineering (PE) license will also allow them to oversee the work of other engineers, sign off on projects, and provide services directly to the public, which may come with higher pay. Additionally, engineers can pursue higher degrees to qualify for more senior-level or engineering management roles, which tend to be higher-paying.
It is worth noting that electrical engineers' salaries can also vary depending on their field of specialization and level of expertise. For example, engineers working with solid-state circuitry, machine learning, image and video processing, and engineering in medicine and biology recorded big gains in salary. In contrast, engineers working with consumer electronics saw a decline in average salary. Furthermore, electrical engineers in management roles can expect to earn a median annual salary of $165,370.
While changing employers can potentially increase an electrical engineer's pay, it is important to consider other factors that can influence salary, such as the specific company, industry, and location. Additionally, gaining more experience, pursuing specializations, and obtaining licenses or higher degrees can also contribute to higher pay. Electrical engineers should thoroughly research and consider all these factors when making decisions about their career and employment.
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Advanced degrees can help electrical engineers increase their income
Electrical engineering is a dynamic field that offers numerous opportunities for career advancement and higher income. While a bachelor's degree is the typical entry requirement, advanced degrees can help electrical engineers increase their income and open doors to senior-level positions.
Senior-level electrical engineering jobs and other highly paid positions often require more advanced degrees. For instance, a Master of Science in Electrical Engineering may be necessary for university teaching or research and development roles, with engineering professors earning an average base salary of $157,086 per year. Obtaining a graduate degree can significantly enhance earning potential.
In addition to academic qualifications, specialization in specific skill sets is highly valuable. Electrical engineers with strong programming skills, for example, can gain an advantage in advanced projects. Continuous learning and upgrading of skills are essential to stay relevant in the rapidly evolving field of electrical engineering.
Beyond academic and technical skills, networking, negotiation prowess, and management experience can also contribute to income growth. Diversifying income streams through consulting, part-time work, or creating and selling products, services, or courses related to one's expertise can further boost earnings.
Lastly, state licensure can lead to higher-paying leadership roles. Electrical engineers become eligible to take the Principles and Practices of Engineering exam after gaining four years of experience, and passing it qualifies them for state licensure, which can increase their earning potential.
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Electrical engineering salaries are impacted by gender and racial pay gaps
Electrical engineering salaries are significantly impacted by gender and racial pay gaps. Women in engineering professions earn less than men, and racial and ethnic disparities further complicate this issue.
According to the U.S. Census Bureau, the gender pay gap in engineering varies by discipline. Women in certain engineering fields, such as civil engineering, experience a larger pay gap than those in other disciplines like mechanical engineering. Overall, women engineers' salaries range from 77% to 111% of men's salaries, with most states showing women earning between 80% and 89% of men's salaries.
The gender pay gap in electrical and electronics engineering is particularly prominent. Women in these fields often face a disadvantage, earning less than their male counterparts for comparable jobs. This disparity compounds over time, leading to a widening pay gap as women progress in their careers.
Racial pay gaps further intersect with gender inequalities. Black and Hispanic women in STEM occupations experience the lowest wages, earning about 55% to 65% of what White men earn. Asian women in STEM fields, on the other hand, earn 86% of White men's salaries and surpass White women's earnings.
Several factors contribute to these pay gaps. Studies suggest that women tend to negotiate less aggressively during salary discussions, resulting in lower starting salaries and slower wage growth. Additionally, societal expectations and biases, such as assuming women will stay home with children, lead to stereotypes that justify lower pay. However, it's important to note that women's choices are often influenced by societal structures and expectations, and they should not be blamed for the pay gap.
To address these disparities, organizations should implement inclusive hiring practices, mentorship programs, and promote diverse leadership. By fostering a more equitable work environment, these steps can help bridge the gender and racial pay gaps in electrical engineering and other STEM fields.
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Frequently asked questions
The average salary for an electrical engineer in the US is $143,384, including a base salary of $107,599 and additional pay of $35,785 per year.
Electrical engineers can expect their salaries to improve a lot in the first decade after graduation. Starting salaries are around $65-70k, and within 10 years, they can expect to be earning over $130k.
In 2023, electrical engineers earned an average of $117,680. In comparison, petroleum engineers earned $148,590, mechanical engineers earned $105,220, and civil engineers earned $101,160.
Several factors influence the rate of salary growth for electrical engineers. These include industry, location, company size, and level of education. Moving into management roles or consulting can also significantly increase salaries.
