Engineers’ salaries have increased by 2% year on year, while graduates can expect to pocket 4% more than in 2015, according to a new report.
The Engineering Employers’ Federation (EEF) has today (16 November) published its annual Professionals’ Pay Benchmark Report, with the findings showing that the average salary for an engineering graduate is now £28,000 a year, up from £26,890 last year. In comparison, according to the latest data from the Higher Education Statistics Agency (Hesa), the average professional graduate salary is £22,984 a year.
This trend continues with both senior and mid-level engineers earning more than the average UK worker. The report shows that a mid-level engineer can expect to earn £32,699 a year, while a senior engineer can expect £41, 800. In contrast, the national average pay in the UK is £27,607 a year, according to the Office for National Statistics (ONS).
The data for this year’s report is based on responses from over 240 companies, covering salary data for almost 6,000 engineers and managers across the country.
The report also shows that pay can differ by up to 10% depending on the region an engineer works in. The best salaries can be found in the south east, where professionals take home £40,000 a year on average, £4,000 more than those based in the south west, the region with the lowest average salary.
As well as region, the report also identifies how pay varies across types of engineering role and specific skills sets. It shows that, in the last year, senior research and development engineers have seen the biggest premium attached to their skills – enjoying a 28% hike in basic median pay, which now stands at £37,109 a year.
“Engineering skills are in high demand and short supply, which is why they continue to command a premium and why employers are prepared to pay it,” said EEF director of employment and skills policy Tim Thomas.
“Offering an attractive salary remains the first line of defence for firms fiercely competing to attract and retain skilled workers vital to their business. It’s a key factor behind our sector’s reputation for offering well-paid, sustainable careers, but it also reinforces the need for employers to be fully aware of industry pay rates so that they can benchmark and position themselves accordingly.”