There’s good earnings information for U.S. members: Salaries are rising. Base salaries elevated by about 5 p.c from 2022 to 2023, in keeping with the IEEE-USA 2024 Wage and Advantages Survey Report.
Final yr’s report confirmed that inflation had outpaced earnings development however that’s not the case this yr.
In present {dollars}, the median earnings of U.S. engineers and different tech professionals who’re IEEE members was US $174,161 final yr, up about 5 p.c from $169,000 in 2022, excluding time beyond regulation pay, revenue sharing, and different supplemental earnings. Unemployment fell to 1.2 p.c on this yr’s survey, down from 1.4 p.c within the earlier yr.
As with prior surveys, earned earnings is measured for the yr previous the survey’s date of report—so the 2024 survey studies earnings earned in 2023.
To calculate the median wage, IEEE-USA thought of solely respondents who have been tech professionals working full time of their major space of competence—a pattern of 4,192 individuals.
Circuits and gadget engineers earn probably the most
These specializing in circuits and units earned the very best median earnings, $196,614, adopted by these working in communications ($190,000) and computer systems/software program expertise ($181,000).
Particular profitable subspecialties embrace broadcast expertise ($226,000), picture/video ($219,015), and {hardware} design or {hardware} help ($215,000).
Engineers within the vitality and energy engineering discipline earned the bottom wage: $155,000.
Increased schooling impacts how effectively one is paid. On common, these with a Ph.D. earned the very best median earnings: $193,636. Members with a grasp’s diploma in electrical engineering or pc engineering reported a wage of $182,500. These with a bachelor’s diploma in electrical engineering or pc engineering earned a median earnings of $159,000.
Incomes potential additionally will depend on geography inside america. Respondents in IEEE Area 6 (Western U.S.) fared considerably higher than these in Area 4 (Central U.S.), incomes almost $48,500 extra on common. Nonetheless, the report notes, the price of dwelling within the western a part of the nation is considerably increased than elsewhere.
The highest earners reside in California, Maryland, and Oregon, whereas these incomes the least reside in Arkansas, Nebraska, and South Carolina.
Teachers are among the many lowest earners
Full professors earned a median wage of $190,000, affiliate professors earned $118,000, and assistant professors earned $104,500.
Nearly 38 p.c of the lecturers surveyed are full professors, 16.6 p.c are affiliate professors, and 11.6 p.c are assistant professors. About 10 p.c of respondents maintain a nonteaching analysis appointment. Practically half (46.8 p.c) are tenured, and 10.7 p.c are on a tenure monitor.
Gender and ethnic gaps widen
The hole between girls’s and males’s salaries elevated. Even contemplating expertise ranges, girls earned $30,515 lower than their male counterparts.
The median major earnings is highest amongst Asian/Pacific Islander technical professionals, at $178,500, adopted by White engineers ($176,500), Hispanic engineers ($152,178), African-American engineers ($150,000), and Native American/Alaskan Native engineers ($148,000). The wage hole between Black engineers and the typical wage reported is $3,500 greater than in final yr’s report.
Asians and Pacific Islanders are the biggest minority group, at 14.4 p.c. Solely 5 p.c of members are Hispanic, 2.6 p.c are African People, and American Indians/Alaskan Natives account for 0.9 p.c of the respondents.
Extra job satisfaction
Based on the report, total job satisfaction is increased than at any time previously 10 years. Members reported that their work was technically difficult and significant to their firm. On the entire, they weren’t happy with development alternatives or their present compensation, nevertheless.
The 60-page report is out there for buy on the member value of US $125. Nonmembers pay $225.
