Electrical engineering is a field that is growing, especially as companies pursue alternative energy methods to combat rising electrical costs. Salaries are already relatively high in this field, but with a master’s degree in electrical engineering, you can earn even more. Just what kind of salary can you expect to earn?
Electrical Engineering Salary Information
Salary in any industry depends on a number of factors, such as location, employer, and experience. The base average starting salary you can expect in this field is over $70,000, and as you work in the field, that figure will only go up. According to Payscale.com, the average salary for all electrical engineers is $75,622, while the average salary for senior electrical engineers is $95,867. The Bureau of Labor Statistics places the average for electrical engineers, regardless of degree or experience, at $86,350 in 2008. Average salaries for other types of jobs in this field range from around $66,000 to $110,000.
Salary Based on Location
Location is one of the main factors that affect salary, so if you’re thinking about getting your master’s degree in electrical engineering and want to know what kind of salary to expect, it helps to know where you plan to work and live. According to reports, electrical engineers earn, on average, the highest salaries in the following locations:
- Massachusetts: $100,740
- Alaska: $100,250
- California: $97,250
- District of Columbia: $96,440
- Maine: $94,310
As you can see, high-paying electrical engineer positions are available across the country. Some of the highest-paid metro areas include Sherman-Denison, TX, Stockton, CA, Wilmington, NC, Santa Cruz-Watsonville, CA, and Sacramento–Arden-Arcade-Roseville, CA. In all of these locations, you can expect to earn an average of over $112,000. It’s important to remember that in some locations, the cost of living is higher, so the salary is relative.
Other Perks for Electrical Engineers
Keep in mind that the base salary isn’t the only thing to consider if you’re thinking about going back to school for a master of science in electrical engineering. With an advanced degree, you’ll be eligible for better jobs, which come attached to more lucrative benefits packages such as better health and dental insurance, retirement plans, more vacation days, and other perks. So, if you’re comparing jobs or determining whether or not going back to school makes sense for you, don’t forget to consider the non-salary benefits.