Can you be rich as an engineer?

[Anonymous]

Anonymous wrote:"My IT husband makes more than my doctor sibling."

Does your IT husband actually do IT anymore or are they a manager or to they own a stake in their company?

Just does IT, works for a company, not a manager nor owns a stake in a company, which would be nice but not happening.

[Anonymous]

That's why we need to stop h1bs and green cards. They have gutted it pay. It jobs should be making 200k out of college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you're really smart and a go getter you can go the management track.

This is my DH. It's really his people and soft skills that allowed him to stand out among the other engineers (that, combined with smart, go getter, working hard. . .)

The problem is a lot of engineers prefer the technical work. DH went on the management track for more money, but is counting the days until he can go back to being a lead engineer on a project.

See, I think my DH doesn't really care for the technical stuff. . . he's smart, but became an engineer because it was expected of him, but he's more of a people person.

Mine only does technical, he'd like to do management but ultimately he'll do what ever he gets the highest offer for.

[Anonymous]

Anonymous wrote:That's why we need to stop h1bs and green cards. They have gutted it pay. It jobs should be making 200k out of college.

Oh give me a break. DH is aerospace, so no h1bs or green card workers, and he just started making $200k after 25 years in the business and undergrad and grad degrees from the top universities in his field.

[Anonymous]

Engineer here. Started right out of college at 60K. 10 years later I am making 110K ish. I am happy at my job for non monetary reasons, and most of the people I graduated with make closer to the 200K range.

Even though your friends right out of school are making more than I am, I would still not lump them with lawyers/doctors. Without them jumping up to C level positions, I bet they will hit a salary cap around 200K, just like my friends.

[Anonymous]

Anonymous wrote:Engineer here. Graduated 20 years ago, got a masters. Work for defense dept, pay is at the topped out GS 15 level. And its a 40 hour week. More than that and I get comp time to use as leave later. and 5 weeks of leave a year. So its not all in dollars.[i]

Do I have a monocle and tophat? No. But I am debt free, and my wife doesnt need to work outside the home so she can be a great hands-on mom for our 3 kids. And, as an engineer, all the money I save fixing and expanding (I doubled it) our house is just the equivalent of extra income.

A law or medical degree isnt necessarily a ticket to riches. There are too many lawyers and managed care is ruining doctor pay to the point there may not be enough doctors soon. But, like engineering (and business) the really good ones can excel quite a bit. You dont have to take another 3-4 years of school and, possibly, borrow huge sums to pay for that.

If you really love doctoring, or lawyering, look into the military. They will pay for that, and then you serve 5-10 years or whatever and you can actually practice your profession instead of worrying about malpractice insurance and front desk staffing and etc etc etc.

And if you dont genuine love engineering stuff, dont do it just for the money. You'll be comfortable, quite so, you probably will never buy a yacht in which you can park another boat.

This is the key in engineering. PPs are right that you're never going to be making much more than 200K at any point in your career unless your start your own business or something. BUT... that 150-200K is generally for 40 hours a week. Maybe 50 during a busy time. And usually flexible hours and a good work environment.

So, yeah, lawyers and financial types make more, but they work a ton more hours in less flexible environments. Pick what's more important to you.

[Anonymous]

Lawyer here, partner in mid-size firm. Depending on my bonus I can make about $450-650k/year. It depends on the year and it can vary significantly to the low side. We start associates at $180k and that’s before they even pass the bar. They get a boost once they pass. This is what we have to pay to get close to top talent out of decent law schools.
I know and represent plenty of doctors. The GP’s generally are in the $250-300 range. Specialists do significantly better, and, if they’re good business people that can grow a practice, they can be in the very high 6 figures or low 7 figures.

[Anonymous]

Anonymous wrote:Lawyer here, partner in mid-size firm. Depending on my bonus I can make about $450-650k/year. It depends on the year and it can vary significantly to the low side. We start associates at $180k and that’s before they even pass the bar. They get a boost once they pass. This is what we have to pay to get close to top talent out of decent law schools.
I know and represent plenty of doctors. The GP’s generally are in the $250-300 range. Specialists do significantly better, and, if they’re good business people that can grow a practice, they can be in the very high 6 figures or low 7 figures.

It depends where doctors work. My sibling works government (direct practice) and making about $200 after 15+ years.

[Anonymous]

PAs, Pharmacists, Engineers are some of the highest earners at 30. By 50 they are earning peanuts next to their business major friends

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you're really smart and a go getter you can go the management track.

LOL. Too funny!

LOL here too.

OP, the reason engineers are paid less is that they don't need to sell their souls to do their job.

And managers are the dumb ones who can't handle being a real engineer. At big tech companies, the pay usually reflects that.

[Anonymous]

Anonymous wrote:150k at 27 is great, but they're likely going to be making only slightly higher 10 years later. Most of the senior-level developers I know make $175-200k.

Lawyers and doctors do a lot better later in their careers.

agreed...but an engineer only needs a 4-year degree....a big bang for the buck if you ask me...

[Anonymous]

Anonymous wrote:PAs, Pharmacists, Engineers are some of the highest earners at 30. By 50 they are earning peanuts next to their business major friends

Pretty much unless the engineer goes to management and then it's a lot more stress.
I manage an engineering team. Many at 30+ are at $140k with 40 hrs a week tops and only technical work to worry about. And they've been making over 100 with just a bs or ms (a little more) for a while. So those that saved early are in a good spot. Not rich but comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:150k at 27 is great, but they're likely going to be making only slightly higher 10 years later. Most of the senior-level developers I know make $175-200k.

Lawyers and doctors do a lot better later in their careers.

agreed...but an engineer only needs a 4-year degree....a big bang for the buck if you ask me...

That’s actually a BIG part of it. Lawyers and doctors go into MAJOR debt for their career; generally they come from well off families, so they know if they hit any bumps they won’t be destitute and in debt for hundreds of thousands.

Engineers tend to come from LMC backgrounds, and the thought of taking in that much debt is stupefying (the loans for MBA/Law/Med school DWARF the value and mortgage of the houses they grew up in). It’s a hellscape nightmare level of debt, and a risk they can’t stomach with no backup plan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:150k at 27 is great, but they're likely going to be making only slightly higher 10 years later. Most of the senior-level developers I know make $175-200k.

Lawyers and doctors do a lot better later in their careers.

agreed...but an engineer only needs a 4-year degree....a big bang for the buck if you ask me...

That’s actually a BIG part of it. Lawyers and doctors go into MAJOR debt for their career; generally they come from well off families, so they know if they hit any bumps they won’t be destitute and in debt for hundreds of thousands.

Engineers tend to come from LMC backgrounds, and the thought of taking in that much debt is stupefying (the loans for MBA/Law/Med school DWARF the value and mortgage of the houses they grew up in). It’s a hellscape nightmare level of debt, and a risk they can’t stomach with no backup plan.

Cite?

[Anonymous]

Yeah if you know your stuff and were top of your CS or engineering class plus a bit of project mgmt experience you can make $400-500k base plus $1-2M RSUs at a start up in Silicon Valley.

You will, of course, work your tail off.