Anonymous
02/11/2019 13:22
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:ICs (individual contributors) in the big tech companies are highly paid, often more than management. 200K-600K in the Bay Area and up to 300K in the DMV. Its not risk free and he or she needs to have depth and breadth, be able to work at a level that others can not and not get stuck in one of the "layers" as IT changes frequently. The changes are not just about the type of technology but the business model. Many IT skills that used to be valuable to organizations are now not needed as the big tech companies provide those services at scale. Off shore developers can easily replace line coders. Business needs change. If you are a brilliant engineer who has depth in your education and skill base. agile abilities, and stay on top of the changes you'll make as much or more than lawyers and doctors.
You’re right, but it really depends on the type of engineer. Not all specialties pay the same.
Anonymous
02/11/2019 13:15
Subject: Can you be rich as an engineer?
Anonymous wrote:$150K is nice for an engineer, but they won't really make much more than that unless they get options and cash in big on those.
Meanwhile first year associates at law firms are starting at $190,000 and that will go up steadily to $350,000+ after 8 years. Plus they can get market bonus of $25K-$100K too.
DMV is super saturated with Lawyers. I would say the AVG is lower than quote and the upside is definitely on the lower end
Anonymous
02/11/2019 13:15
Subject: Can you be rich as an engineer?
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.
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.
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.
Anonymous
02/11/2019 13:12
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:150k at 27 isn't high?
My DH was making that at 27 in finance. Now he makes around 750k in a super family friendly job (I.e. not Wall St. hours)
Finance and engineering are on different pay scales.
Funny given we used to call these kids (business/finance majors) “engineering drop outs”...
Now we call most of those wall street/ finance types "crooks".
Anonymous
02/11/2019 13:12
Subject: Re:Can you be rich as an engineer?
ICs (individual contributors) in the big tech companies are highly paid, often more than management. 200K-600K in the Bay Area and up to 300K in the DMV. Its not risk free and he or she needs to have depth and breadth, be able to work at a level that others can not and not get stuck in one of the "layers" as IT changes frequently. The changes are not just about the type of technology but the business model. Many IT skills that used to be valuable to organizations are now not needed as the big tech companies provide those services at scale. Off shore developers can easily replace line coders. Business needs change. If you are a brilliant engineer who has depth in your education and skill base. agile abilities, and stay on top of the changes you'll make as much or more than lawyers and doctors.
Anonymous
02/11/2019 13:11
Subject: Can you be rich as an engineer?
Engineer here. Started at $50K out of college. Now at 40 making $240K.
Anonymous
02/11/2019 13:10
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:Anonymous wrote:Anonymous wrote:150k at 27 isn't high?
My DH was making that at 27 in finance. Now he makes around 750k in a super family friendly job (I.e. not Wall St. hours)
Finance and engineering are on different pay scales.
Funny given we used to call these kids (business/finance majors) “engineering drop outs”...
Anonymous
02/11/2019 13:07
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:Anonymous wrote:150k at 27 isn't high?
My DH was making that at 27 in finance. Now he makes around 750k in a super family friendly job (I.e. not Wall St. hours)
Finance and engineering are on different pay scales.
Anonymous
02/11/2019 13:06
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:Anonymous wrote:150k at 27 isn't high?
My DH was making that at 27 in finance. Now he makes around 750k in a super family friendly job (I.e. not Wall St. hours)
You have to know that that is not a typical salary for anyone...
Anonymous
02/11/2019 12:53
Subject: Re:Can you be rich as an engineer?
Anonymous wrote:150k at 27 isn't high?
My DH was making that at 27 in finance. Now he makes around 750k in a super family friendly job (I.e. not Wall St. hours)
Anonymous
02/11/2019 12:53
Subject: Can you be rich as an engineer?
$150K is nice for an engineer, but they won't really make much more than that unless they get options and cash in big on those.
Meanwhile first year associates at law firms are starting at $190,000 and that will go up steadily to $350,000+ after 8 years. Plus they can get market bonus of $25K-$100K too.
Meanwhile first year associates at law firms are starting at $190,000 and that will go up steadily to $350,000+ after 8 years. Plus they can get market bonus of $25K-$100K too.
Anonymous
02/11/2019 12:52
Subject: Re:Can you be rich as an engineer?
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.[/quote]
+1
Definitely - more often than not. Engineers level out, while lawyers and doctors have many more options.
Anonymous
02/11/2019 12:25
Subject: Re:Can you be rich as an engineer?
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.
Anonymous
02/11/2019 12:23
Subject: Re:Can you be rich as an engineer?
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.
Anonymous
02/11/2019 12:19
Subject: Re:Can you be rich as an engineer?
"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?
Does your IT husband actually do IT anymore or are they a manager or to they own a stake in their company?