How Much Should Your Experience Earn You as an Electrical Engineer?

Take a Pitstop Check on Your Career and Make Sure You’re Being Rewarded

From your first job as an electrical engineer, to having years of experience under your belt, you should review your salary regularly. Afterall, you do it in all other aspects of your life. You review your water bill payments to ensure they match your usage. You review the rates of gas at different gas stations. You even check your receipts after grocery shopping, to make sure they match the items and promotions.

Why wouldn’t you do the same for your main source of income? It’s likely that your role has adjusted to business needs. Maybe you help train up new apprentices. The years are stacking up, and your experience has improved your worth as an electrical engineer.

Only 19% of Americans think they’re on the right salary. It’s time you checked in on what you’re earning and what you should be earning, to make sure you’re being rewarded accordingly.

Benchmark Salary for Electrical Engineers

According to the Bureau of Labor Statistics, the average annual wage of an electrical engineer is $103,480, with an average hourly wage of $49.75. This is, however, only the ballpark figure. There are many factors that could pump up your earnings.

Factors That Affect an Electrical Engineer’s Salary

If you’re earning less than the average wage, it may be because one or more of the following factors are holding down your salary.

·      Location

Where you work can make a substantial difference to how much you earn. The highest-paying locations for electrical engineers are:

  • California – annual wage averaging $117,070
  • Texas – annual wage averaging $106,650
  • New York – annual wage averaging $106,360

All these states pay higher than America’s annual average of $103,480 for electrical engineers. If you want to earn more money, you may need to move state – although there are less drastic measures you can take to boost your wages.

The Experience Factor

Experience is a key feature that should be recognized by all employers. The more experience you have, the more value you offer. You are more able to work on your own, coach new employees, supervise others, and take on more complex work.

Based on the average salary for electrical engineers in the United Sates, according to Indeed, experience is rewarded as follows:

  • 0-5 years – No increase
  • 6-9 years – Salary to increase up to $106,163
  • More than 10 years – $113,677

Where do you stand in these figures? Are you in the six-to-nine-year bracket and still haven’t had a pay rise? If so, it’s time to approach your boss, with evidence of your ability and skills.

  • Skills for Success

With experience comes increased skills, but there are other ways to boost your skillset. Appropriate training and development will help you demonstrate skills that can boost your earnings. These include:

  • Being a team player

You’ll be working in teams to solve complex problems. Working together will allow a team to be better equipped for finding solutions.

  • Having advanced communication skills

Advanced communication skills could help to accelerate your career. Present ideas, evoke curiosity, and challenge yourself and others to think outside the box for a solution.

  • Being a great problem-solver

Problem-solving ability (both individually and within a team) will help to boost your value to employers.

  • Career Progression

Never be afraid to think ahead for your next steps in your professional life. Throughout your career as an electrical engineer, there is room to progress to more senior roles, such as:

  • Senior Electrical Engineer
  • Design Engineering Manager
  • Systems Engineer

Be bold. Look forward, and apply your skills and experience to better-paying roles that match your ability.

  • Industry

If you feel your salary is below par in your location or experience bracket, then perhaps it’s time to start looking at a change of industry, which can propel you into a much higher-paying band. Electrical engineers are required across many industry sectors, and some of the highest paying include:

  • Oil and Gas Extraction
  • Mining
  • Aerospace Manufacturing
  • Scientific Research

Summing Up

You can’t simply rely on spontaneous salary kicks from your employer. Knowledge is power. This includes knowing how much you should be earning, and knowing where and how to move forward to ensure you’re utilizing every skill, ability, and year of experience that has helped you develop expertise in electrical engineering roles.

Ask your boss to review your salary. If no more money is forthcoming, despite the strong case you put forward, then it may be time to look for a new job.

For a confidential discussion about your options and how to make a move to a more rewarding electrical engineer job, get in touch with Loyal Source today.

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