Everyone wants to find a job that they love, one which matches their interests and passions and skills. That’s all well and good, but logistically, you also need to worry about finding a job which pays the bills and provides you with the lifestyle that you’re looking to have. That’s why so many people want to know the data for chemical engineering and what the earnings potential for the field is. Right here, you’ll find an overview of what to expect, and if anything, you’ll end up pleasantly surprised.
The entire field of engineering is well paid, and it’s known as a potentially lucrative job type. Different specialties or areas of engineering get paid varying amounts though. Chemical engineers aren’t at the loftiest end of that spectrum, but they’re above the middle of the pack within the field as a whole, and enjoy some very healthy wages. Let’s dive into the numbers for what that means below.
According to the latest Occupational Employment Statistics survey from the Bureau of Labor Statistics in May 2010, the mean annual wage of chemical engineers was $94,590. That means on average alone, chemical engineering professionals earn nearly $100k per year, which is fantastic.
Digging deeper into the data, and the 50% or median mark for earnings is at $90,300. The top 25% of the field earns more than $112,630, and even better, the top 10% of the field earns more than $139,670. That’s a huge figure, and it shows not only what the grand potential is for salary and earnings, it also shows great room for growth and advancement within the field when you gain more experience and have the right education and skills.
Of course, different fields will offer different salaries, and where you end up working will have a great impact on what you specifically end up earning. For example, in the industry of oil and gas extraction, chemical engineers earn an annual mean wage of nearly $115,000, well above the overall mean.
Your location will also be a factor in terms of how much you earn. This has to do not only with factors such as competition and cost of living expenses, but also what industries are available in that geographic location. So, chemical engineers in Alaska earn a mean salary of $127,000, which is phenomenal, while in Wisconsin, Delaware and Montana, the mean annual salary is also very lofty, between $116-$118k. Other states offer significantly less. For example, Illinois has the 5th most chemical engineers of any state, but the mean annual wage is substantially lower than those mentioned above, and falls in at about $85,000.
Now you should have a much better idea about the specifics of salary and earnings for chemical engineers. Chemical engineers can pull in a great salary, and the top of the field really soars up even higher, highlighting the growth potential with the right mix of experience, skill and education. With these great earnings levels, there should be nothing holding you back from beginning a career as a chemical engineer.