4 percent increase in engineering graduates’ pay

The annual report shows that engineering graduates can now expect to earn £28 000 a year on average – up by 4% from £26 890 last year. In comparison, according to the latest data from HESA, the average professional graduate salary is £22 984 a year. This means that engineering graduates now earn over £5000 or 22% a year more than other UK graduates – a figure that further reinforces engineering’s reputation for being a well paid career choice.

This trend continues with both senior engineers and engineers earning more than the average UK worker. The report shows that an 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 according to ONS is £27 607 a year.

EEF’s Professionals’ Pay Benchmark Report is one of the most comprehensive sources of pay data for engineers and managers in the industry. The 2016 data is based on responses from over 240 companies, covering salary data for almost 6000 managers and engineers across Great Britain.

The report is produced annually to provide a benchmark to assist companies in setting pay levels and to help them understand market rates across manufacturing.

The 2016 data shows that professionals’ pay can differ by as much as 10% depending on the region. The highest earning region is the South East where professionals’ take home £40 000 a year on average. In comparison, the lowest earning region is the South West where the median basic pay for engineers is £36 000 a year.

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.

Tim Thomas, Director of Employment and Skills Policy at EEF, says, “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. 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.”

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/16112016/4-percent-increase-in-engineering-graduates-pay/