Average Salary with a Masters in Engineering Management
With a master’s degree in engineering management, you can qualify for more advanced jobs in the engineering world, working with teams of engineers to complete projects. These advanced positions come attached not just to more responsibilities, but also to higher salaries. But just how much can you make in this position?
Base Salary for Engineering Managers
According to Salary.com reports, the average salary for engineering managers in the United States is $114,754. Keep in mind that this figure includes not only those with a master’s degree, but also workers who were promoted to managerial positions after entering the field with just a bachelor’s degree. So, you can expect to earn even more as an engineering manager with a master’s degree. The top 90% of all engineering managers earn $144,114 and up. As you can see, this this type of degree, you have the potential to easily make a six-figure salary.
How to Make More Money as an Engineering Manager
With a masters in engineering management, you not only have great earning potential, but you can also find ways to make more money in whatever position you hold. First, specializing in a specific type of engineering can make it easier to find a high-paying job. Certain fields, such as environmental engineering and petroleum engineering, are growing rapidly, so there is a need for workers, especially those who have the experience and education needed to be managers. Location also makes a different when it comes to salary. Becoming an engineering manager in an urban environment will often lead to higher-paying job opportunities. Lastly, consider switching companies if you want to make more money. Larger engineering firms typically provide higher salaries, though it depends on the individual company.
Other Engineering Management Benefits
Your salary isn’t the only thing to consider when comparing engineering management jobs. Most top-level positions in this field come attached to healthy benefits packages, which include things like paid vacation days, health and dental coverage, retirement plans, stock options, annual bonuses, paid transportation, and more. If you’re comparing jobs, consider these non-salary benefits as well – sometimes the job where the base salary is lower actually makes the most financial sense.