Engineering fields are experiencing growth, for the most part. Jobs and salaries are on the increase, and recent engineering grads have a lot of prospects ahead of them. Though the picture looks fairly rosy overall, there are some specifics worth taking a deeper look into.
According to a projection spanning 2014-2024 by the United States Bureau of Labor Statistics, engineering jobs are expected to grow in several sectors. Civil engineering is one of the fastest-growing subfields, with jobs expected to increase by 8.4% by 2024 (corresponding to roughly 24,000 jobs). Unfortunately, the outlook isn't so great for electronics, aerospace, or nuclear engineers. Following the Bureau's projection, these sectors are predicted to shrink a bit by 2024.
Not all majors turn out an equal number of graduates, and engineering is no exception. The ten most popular engineering majors include petroleum, general, aerospace/aeronautical, industrial, biomedical, computer, chemical, civil, electrical, and mechanical engineering. Students who find themselves on the fence between electrical and computer engineering may want to opt to go into the latter, as it is projected to grow by 3.1% by 2024—compared to just 1% for electrical engineering.
As with many careers, pay can vary by state. The average annual pay for a mechanical engineer, for example, tops out at $128,690 (Alaska) and bottoms out at $71,730 (Arkansas), with the average entry-level mechanical engineer earning about $73,067 per year. The picture is a bit different for industrial engineers, who typicaly start at around $62,833 and can, on average, earn between $109,880 (Texas) and $74,430 (Indiana). As one of the most in-demand fields of engineering, civil engineers start out at around $59,545 yearly, but can earn from $55,500 (Puerto Rico) to $125,470 (Alaska).
All told, engineering-related majors make up 24 of the 50 highest-paying majors available, with petroleum engineering coming out on top at $169,680. This shouldn't come as a surprise—ExxonMobil ranks as one of the top ten most attractive employers for engineering grads, and petroleum jobs are expected to grow by nearly 10%. As with any major, it pays to do some scouting and see which states have the best opportunities and cost of living to salary ratio.
Right now, recent grads are seeking out employers in the petroleum, automotive, aerospace, and tech industries. In a ranking by employer branding specialists Universum, SpaceX ranked as the top most sought-after company to work for. Over 20.7% of engineering students named them one of their top five desired employers, followed by Tesla at 18.7%, Google at 16%, Boeing at 15.7%, and NASA at 14.5%. Bringing up the rear were the Federal Bureau of Investigation, Medtronic, and Caterpillar, all tied at 2.9%, only narrowly beaten by Facebook at 3%.
According to the National Center for Science and Engineering Statistics 2019 Women, Minorities, and Persons with Disabilities in Science and Engineering digest, the number of African American, Hispanic or Latino, female, or other minority graduates is increasing steadily. The number of members of these demographics with bachelor's degrees in science and engineering fields is on an upward trend across the board. For example, more women are entering STEM-related fields overall, and women's share of bachelor's degrees in engineering has increased from 18% in 2006, to 21% in 2016.
Most engineering fields are experiencing growth, and even those who aren't are likely only going to experience temporary setbacks. Those looking for an industry that's capable of weathering an economic downturn may want to explore engineering jobs related to power, like petroleum, nuclear, or renewable energy, while those looking to get into a rapidly growing field may want to choose civil engineering.
References:
“Employment Outlook for Engineering Occupations to 2024.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor Statistics, 6 Oct. 2016, www.bls.gov/opub/ted/2016/employment-outlook-for-engineering-occupations-to-2024.htm.
“List of Civil Engineering Salaries in the USA.” Interesting Engineering, 29 May 2019, interestingengineering.com/civil-engineering-salaries-state-by-state.
“List of Mechanical Engineering Salaries in the USA.” Interesting Engineering, 10 June 2019, interestingengineering.com/mechanical-engineering-salaries-state-by-state.
“Women, Minorities, and Persons with Disabilities in Science and Engineering.” National Science Foundation, National Center for Science and Engineering Statistics , ncses.nsf.gov/pubs/nsf19304/digest/introduction.
“From NASA to Apple, Here Are the 40 Employers Engineering Grads Are Flocking To.” Business Insider, Business Insider, 4 June 2019, www.businessinsider.com/universum-most-attractive-us-employer-rankings-2019-engineers-2019-5#38-federal-bureau-of-investigation-29-of-engineering-students-ranked-americas-highest-federal-law-enforcement-agency-among-their-top-five-ideal-employers-3.
“The 10 Most Attractive Employers for Engineering Students.” CNBC, CNBC, 7 June 2019, www.cnbc.com/2019/06/06/the-10-most-attractive-employers-for-engineering-students.html.
