3 answers
4
Asked 1407 views

how do engineers make money

I want to know how engineers make money #engineering #money #fun

engineering money fun
Answer This

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you
4

3 answers

1
Updated
Share a link to this answer
Share a link to this answer

Matt’s Answer


  1. Salaried employee of a company. You'll get a base salary (typically yearly, paid either every two weeks, or twice a month.)

  2. Independent contractor or consulting engineer. You'll bill customers directly for your work, often on a project basis, with payments on key milestones.

  3. Hourly employee of a company. Instead of a salary, you'll get an hourly wage that determines your total pay based on the number of hours you work. Typically hourly employees are eligible for overtime pay (paid at a higher rate when working more than, for example, 40 hours per week.)

  4. Bonus payments, often based on performance. (Often a part of type 1 and 3. Sometimes also part of the contract for type 2.)

  5. Equity (stock) in a company. Often part of type 1. Common practice is to give "Restricted Stock Units" or "stock options" to employees that "vest" (become available for the employee to sell) over a period of time, typically three or four years. For example, a company might give a new employee 100 RSUs that vest over four years, with 25% coming available to sell every year.

  6. (Joke!) Bribes!

  7. Write a book. Textbook or something else related to your field.
Thank you comment icon One more I just thought of: Own a company that employs others. Matt Manuel
Thank you comment icon thank you for the great info Justin
Thank you comment icon Michigan Tech Univ put out a table that ranges from $60,000-$110,000. http://www.mtu.edu/engineering/outreach/welcome/salary/ Matthew Pearlson
Thank you comment icon thanks sir Wesley
Thank you comment icon wow that is nice thanks for giving him help Noah
1
0
Updated
Share a link to this answer
Share a link to this answer

Olga’s Answer

Engineers start making thier money by working and developing skills at the company and during extra courses. We should invest in ourselves and our skills so then other companies start seeking for us.
0
0
Updated
Share a link to this answer
Share a link to this answer

Craig’s Answer

Inventions and start ups are a good way
0