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 accordance with the IEEE-USA 2024 Salary and Benefits Survey Report.
Last year’s report confirmed that inflation had outpaced earnings development 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 p.c from $169,000 in 2022, excluding additional time pay, revenue sharing, and different supplemental earnings. Unemployment fell to 1.2 p.c on this 12 months’s survey, down from 1.4 p.c within the earlier 12 months.
As with prior surveys, earned revenue is measured for the 12 months previous the survey’s date of file—so the 2024 survey experiences revenue earned in 2023.
To calculate the median wage, IEEE-USA thought-about solely respondents who had been tech professionals working full time of their major space of competence—a pattern of 4,192 individuals.
Circuits and gadget engineers earn essentially the most
These specializing in circuits and units earned the best median revenue, $196,614, adopted by these working in communications ($190,000) and computer systems/software program know-how ($181,000).
Particular profitable subspecialties embrace broadcast know-how ($226,000), picture/video ($219,015), and {hardware} design or {hardware} assist ($215,000).
Engineers within the power and energy engineering subject earned the bottom wage: $155,000.
Larger training impacts how properly one is paid. On common, these with a Ph.D. earned the 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 is determined by geography inside the USA. Respondents in IEEE Region 6 (Western U.S.) fared considerably higher than these in Region 4 (Central U.S.), incomes practically $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 stay in California, Maryland, and Oregon, whereas these incomes the least stay 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 teachers 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. Almost half (46.8 p.c) are tenured, and 10.7 p.c are on a tenure observe.
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 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 p.c. Solely 5 p.c of members are Hispanic, 2.6 p.c are African Individuals, and American Indians/Alaskan Natives account for 0.9 p.c of the respondents.
Extra job satisfaction
In accordance with the report, general job satisfaction is greater than at any time prior to now 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, nevertheless.
The 60-page report is on the market for buy on the member value of US $125. Nonmembers pay $225.
