What Is the Yearly Salary of an Automotive Engineer?
The automotive engineering field combines different types of engineering, including mechanical, electronic, electrical and safety engineering. Read on to find out how your salary can vary based on different factors, including your employer and level of experience. Schools offering Engineering & Technology Management degrees can also be found in these popular choices.
A survey of automotive engineers conducted for SAE International (www.sae.org) reported that in 2012 the average annual salary for these professionals was $103,400. On the other hand, PayScale.com reported that most automotive engineers made $41,046-$109,134 as of May 2014, with the median salary being $69,088. Salaries are also dependent on the engineer's location and experience, as well as the automotive industry sector.
Salary by Popular Employer
According to PayScale.com in May 2014, automotive engineers employed by Chrysler Group LLC earned between $68,000 and $99,000 per year. Ford Motor Corporation paid these professionals $65,000-$115,000 per year, while automotive engineers with General Motors made between $62,000 and $84,000 annually.
Salary by Years of Experience
The amount of time you work as an automotive engineer has quite a bit to do with the amount of money you'll earn. PayScale.com confirmed that most of these professionals with 0-5 years of experience earned a median of $62,000 as of May 2014, and those with 5-10 years of experience earned median salaries of $74,000. Median salaries rose to $86,000 with 10-20 years of experience.
Salaries for Unionized Workers
Another factor that can affect your salary as an automotive engineer is whether or not you are a member of The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) and covered by a contract negotiated on behalf of union members. This union comprises more than 700,000 workers, including engineers, and has a presence at all of the major U.S. car companies.
The U.S. Bureau of Labor Statistics (BLS) expects slower-than-average growth of five percent for all mechanical engineers, including automotive engineers, from 2012-2022. Those who know how to use the latest technology will have better prospects. In addition, the BLS expects continued growth in the transportation equipment and machinery manufacturing industry.
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