IEEE-USA has shared the results of its annual 2015 Salary & Benefits survey, showing that the total median pre-tax income in the calendar year of 2014 was $133,000, up from $129,000 in 2013, and representing the largest increase since 2008.
In a recent phone interview, Jim Jefferies, IEEE-USA 2015 president,* highlighted some key findings of the study. With regard to gender and ethnicity gaps, women’s salaries continue to trail men’s—by $13,635—but the gap is down $3,000 from 2013. And salaries for African-Americans trail Caucasians’ by an average of $15,482, but that gap is down $2,000 from 2013.
As for primary areas of technical competence (PATC), the IEEE-USA survey results mirrored those of the EE-Evaluation Engineering salary survey taken last summer: communications is the field to be in if you want to maximize your salary. The IEEE found that communications engineers earned a median salary of $152,000. The lowest earning engineers worked for utilities, pulling in $113,378. Jefferies pointed out that job opportunities for utilities are distributed throughout the country with many in low-cost-of-living areas, whereas higher paying jobs may be concentrated in high-cost areas. As did EE’s salary survey, the IEEE survey found the highest paying jobs concentrated in the west, with a median salary of $144,000.
Not surprisingly, the IEEE survey found (as did the EE survey) that salary increases with education. The IEEE found that holders of a BSEE or BSCE degree earn $127,686, which adding an MSEE or MSCE degree boosts to $138,000. Holders of a PhD or MBA earned $140,000. Interestingly, the IEEE survey included a degree that EE’s survey didn’t—the JD. In fact (although the sample was small), that degree outperformed all the others with a median salary of $178,000. Jefferies said policy is creeping more and more into the engineering profession, possibly contributing to the value of a law degree.
There has been some debate about the advisability of trying to boost your salary by job hopping—a process that can end badly. But a recent Slate article suggested the tactic could work for those with hard-to-replace technical skills. However, Jefferies said there is no evidence of that in the IEEE-USA survey results. In fact, respondents with the highest median incomes—above $140,000—have been with there current employers for periods ranging from 15 to 34 years.
The IEEE survey found that respondents were generally satisfied with their jobs—only about one-quarter said they were dissatisfied or very dissatisfied. (That figure was 14% for the EE survey.) The IEEE found that engineers were most satisfied with the technical challenges of their jobs and least satisfied with advancement opportunities.
The IEEE-USA survey was launched in April. Jefferies said participants included 10,215 IEEE members, 9,044 of whom were employed fulltime in their PATC. The typical respondent was a male in his mid-to-late forties with an advanced degree and about 22 years of professional experience. He supervises a handful of other employees.
Visit the IEEE-USA Salary Service page for more, including salary calculators for IEEE members and hiring managers. Jefferies added that the IEEE-USA offers a separate survey for consultants and self-employed engineers.
*The original post misidentified the IEEE-USA spokesperson. This post has been updated.
