There’s good earnings information for U.S. members: Salaries are rising. Base salaries elevated by about 5 % from 2022 to 2023, based on the IEEE-USA 2024 Wage and Advantages Survey Report.
Final 12 months’s report confirmed that inflation had outpaced earnings progress however that’s not the case this 12 months.
In present {dollars}, the median revenue of U.S. engineers and different tech professionals who’re IEEE members was US $174,161 final 12 months, up about 5 % from $169,000 in 2022, excluding time beyond regulation pay, revenue sharing, and different supplemental earnings. Unemployment fell to 1.2 % on this 12 months’s survey, down from 1.4 % within the earlier 12 months.
As with prior surveys, earned revenue is measured for the 12 months previous the survey’s date of report—so the 2024 survey studies revenue earned in 2023.
To calculate the median wage, IEEE-USA thought-about solely respondents who have been tech professionals working full time of their main space of competence—a pattern of 4,192 individuals.
Circuits and system engineers earn essentially the most
These specializing in circuits and gadgets earned the very best median revenue, $196,614, adopted by these working in communications ($190,000) and computer systems/software program expertise ($181,000).
Particular profitable subspecialties embody 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 nicely one is paid. On common, these with a Ph.D. earned the very best median revenue: $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 revenue of $159,000.
Incomes potential additionally will depend on geography inside the USA. 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 greater 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 mean wage of $190,000, affiliate professors earned $118,000, and assistant professors earned $104,500.
Virtually 38 % of the teachers surveyed are full professors, 16.6 % are affiliate professors, and 11.6 % are assistant professors. About 10 % of respondents maintain a nonteaching analysis appointment. Almost half (46.8 %) are tenured, and 10.7 % are on a tenure monitor.
Gender and ethnic gaps widen
The hole between ladies’s and males’s salaries elevated. Even contemplating expertise ranges, ladies earned $30,515 lower than their male counterparts.
The median main revenue 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 common wage reported is $3,500 greater than in final 12 months’s report.
Asians and Pacific Islanders are the biggest minority group, at 14.4 %. Solely 5 % of members are Hispanic, 2.6 % are African Individuals, and American Indians/Alaskan Natives account for 0.9 % of the respondents.
Extra job satisfaction
In response to the report, general job satisfaction is greater 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 glad with development alternatives or their present compensation, nonetheless.
The 60-page report is out there for buy on the member worth of US $125. Nonmembers pay $225.
