2004 Salary Survey
Electronic Design's 2004 Reader Profile Survey results are in. According to over 2700 respondents, 60% of us think we are paid appropriately at around $92k (average total compensation presented herein). Managers are making a little less than last year while the worker bees made about the same. Engineering managers made the highest pay, while manufacturing/production managers made the least. The salary gap between women and men is closing as women received greater raises (in %) than men. IC designers were the highest paid engineers ($97k) while MEMs designers made the least ($84k). Defense electronics engineers averaged $89k. The Pacific region had the highest compensation at $106k while NW central and SE Central regions reported $81k. Earnings peaked for engineers with 35-39 years of experience while those with 1-4 years made $62k. Those with <1 year made $70k, indicating higher starting salaries. Companies with revenues of $1B-$4.9B paid the highest while $5M-$9M companies paid $83k. Doctorates received $111k, Masters $104k, Bachelors $86k, Associates $69k, and, oddly, those with only a HS diploma made $78k. The peak earning ages are 40-49 years old ($96k), and 20-29 year-olds made $65k. %95 of us are on a payroll while only %6 are self-employed. The top job satisfaction factor was the challenge. Compensation came in 3rd. The average work week consists of 52 hours (work + home). 36% of companies are hiring and 9% of us are looking for a new job. Avionics and IC companies are doing the most hiring. Look for the full report in your mailbox or possibly online soon.