Financial prospects in an engineering career?

I've looked into average engineering salaries, and i've recieved no solid answers. I'm looking earn a yearly salary of £50'000, 5 years after graduation from uni, with a masters in mechanical or civil engineering. Would this be possible?

Reply 1

username1799249

Perhaps. But engineering is skills based. People do it for the love. The reward is good but if you want money don't bother with engineering. People don't go into engineering for the money. I wouldn't want to sit next to someone designing a bridge who was only worried about his next pay rise.

You can achieve salaries as you desire, but you would have to be going some to do that in 5 years.

Reply 2

username738914

Original post by HDO

It's possible to make that, but only really after you become chartered. Which could take 5-10 years.

As for how to get to that level in the time horizon you want, I'd look towards Oil and Gas or Mining companies.

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Reply 3

Smack

Volunteer Team

Original post by HDO

Very few people earn that kind of salary five years after graduation. I think it's going to be very unlikely unless you're working in a high paying industry like oil & gas or chemicals, to be honest.

Reply 4

KTS89

Original post by Princepieman

As for how to get to that level in the time horizon you want, I'd look towards Oil and Gas or Mining companies.

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And for the first one chances are way too slim at the moment

Reply 5

username738914

Original post by KTS89

And for the first one chances are way too slim at the moment

Hahaha, very true. I hear the price will rebound soon, maybe the year after next.

Reply 6

Smack

Volunteer Team

Original post by Princepieman

Hahaha, very true. I hear the price will rebound soon, maybe the year after next.

I think it'll take more than a year for the fundamentals to balance enough such that a price rebound happens in 2017.

Reply 7

HDO

That's rather depressing, I love maths and physics, and was hoping to find a career with a compromise between my passion and high salary. Medicine or investment banking it is.

Reply 8

username738914

Original post by HDO

That's rather depressing, I love maths and physics, and was hoping to find a career with a compromise between my passion and high salary. Medicine or investment banking it is.

Software Engineering is a good pathway, if you're good enough to crack into the top companies.

I really wouldn't advise choosing a career solely based on the money. IB is a completely different career sector to Medicine, with almost 0 overlap whatsoever. Sort out your priorities for what you want in a career first, rather than blindingly chasing the money.

I'd look into the following careers, given your focus:
Software Engineering
Petroleum Engineering
Quantitative Trading/Analysis
Physics Research - CERN, NHS Scientist Training programme (Medical Physics) etc.
Data Science
Lecturing
Mechanical Engineering
Chemical Engineering
Electrical Engineering

Just do some digging about the above careers to see which would interest you, and what is involved in each on a day-to-day basis.

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Reply 9

hero

I think with engineering it depends on the company you are working at and also how well you perform.
I work in engineering and know some graduates who I work with being on over 40k after 3 years but some on mid 30s after 5 years.
So it depends greatly on yourself as well as the opportunities available within the company...there is no automatic promotion.

(edited 8 years ago)

Reply 10

BCU Student Rep

Official Rep

Hi it's Amanda here at BCU! Thought you might be interested to hear about Michael Carter - one of our recent graduates who got a job at Aston Martin straight after finishing his course. He's shared his top tips for getting ahead in engineering which might help you! See: www.bcu.ac.uk/how-to/michael-c