Engineering Graduates to Earn Second Highest Average Salary

Engineering Graduates to Earn Second Highest Average Salary

Engineering grads for the class of 2017 will have an average salary of $63,036, making engineering the second-highest paying field for grads and 27% above the average salary, according to a study released by the Hay Group division of Korn Ferry International Inc. (NYSE: KFY).

“With unemployment rates back down to pre-recession levels and jobs requiring more highly specialized skills, companies will need to offer competitive compensation packages if they hope to attract top talent,” said Benjamin Frost, Korn Ferry Hay Group global product manager – pay.

The five highest-paying fields of the 25 jobs in the analysis are:

  1. Software developer: $65,232 (31% above average)
  2. Engineer: $63,036 (27% above average)
  3. Actuary: $59,212 (19% above average)
  4. Scientist/researcher: $58,733 (18% above average)
  5. Environmental professional: $58,733 (18% above average)

Based on the positions analyzed, 2017 college grads in the US will make on average $49,785 annually, up 3% from the 2016 average of $48,270.

Researchers analyzed salaries of 145,000 entry-level positions from more than 700 organizations across the US. Based on this data, the firm issued a snapshot report of 25 jobs, spanning multiple industries, with corresponding projected salaries.