Engineering grad pay up 4 per cent
Published: 16 Nov 2016 By The Engineer
A new report from manufacturers’ organisation EEF has shown that engineering grads can now expect to earn £28,000 per year on average, up 4 per cent on last year’s figure of £26,890.
According to the Higher Education Statistics Agency (HESA), the average grad salary across all professions is £22,984, meaning young engineers are earning about 22 per cent more than other graduates. Pay for the engineering sector as whole is up 2 per cent in 2016. EEF’s data for this year is based on responses from over 240 companies, covering salary information for almost 6,000 managers and engineers across the UK.
“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 Tim Thomas, director of Employment and Skills Policy at EEF.
“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.”
As ever, regional variations continue to be prevalent, with pay differing by as much as 10 per cent depending on location. According to the EEF figures, 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.