How to make it big?

College Majors Engineering Majors
1

<p>I'll be majoring in EE and attending UIUC. How do you becomes successful (or rich)? For some (like my parents), the normal engineer's salary isn't enough. Sakky, in one of my previous threads, told me to go into investment banking. I highly doubt I'll make it that far, and I don't think IB is the job for me. How can you become rich with ENG?</p>

<p>I was planning to keep a good GPA for my undergrad and get into a good MBA program for management. I don't exactly plan to start my own firm or whatever because I just can't see myself doing that. I heard many times that finance and engineering is many times combined, and in the business world, it's who you know instead of what you know. </p>

<p>So, I guess my question is how do you know or get to know powerful people? In my life, I have realized that you need connections for everything. How do you get connections in college? Work? Research? Internships? Is that how? </p>

<p>Any input you have is helpful. Thank you! :)</p>

2

<p>it will be important for u to know people.that is how pple progress to start with.U never know who u may stumble upon.!!</p>

3

<p>As an engineer, one makes the most money starting their own company. A highly risky option.</p>

4

<p>What do you mean by "For some (like my parents), the normal engineer's salary isn't enough"? How much do you consider to be a normal engineer's salary?</p>

<p>If you don't mind managing people, a BS EE and then a MBA could work for you. Or as Mr Payne mentioned, start your own company. Although most new businesses fail.</p>

5

<p>I consider the normal salary to be about $50000. I'm not interested in starting a new business because it might fail. I am risk-taker, but there is a limit to everything.</p>

6

<p>This is hilarious.</p>

<p>How much money do you really need as a 22 or 23 y/o college grad? Engineers start at around 50k, no matter where you went to school, and in some instances, it's much higher.</p>

<p>I'm an E-4 in the military, which means I make 30 grand a year. And I have a pretty damn comfortable lifestyle.</p>

<p>Maybe you should just worry about actually getting your degree (who knows if you actually will) then about how much money you're going to make. All you need to know is that engineers do well as opposed to other bachelor's degree holders.</p>

<p>People become "rich" or "wealthy" not because of what specific job that they have, but because they have a vision, determination, and a certain knack for business and opportunity. Unless you're in Hollywood and/or superstar athlete.</p>

7

<p>For some (like my parents), the normal engineer's salary isn't enough.</p>

<p>How do your parents figure into this? They're not the one's earning the degree or getting the salary. As long as you're comfortable, than you'll be fine. Just do your best at what you love and you'll have a fine life.</p>

8

<p>As the previous posters have said--what exactly is a "comfortable salary" for you?</p>

<p>For the most part Engineers make pretty good money and with a Masters under your belt and experience you can easily break 6 figures. If you want millions of dollars a year--you are in the wrong field.</p>

9

<p>some are lucky enough to be invited to work at a startup that makes it big, but that's also a longshot.</p>

10

<p>if you think being successful refers to being rich, you can go to hell.</p>

11

<p>lol...................</p>

12

<p>If you insist on being rich as an engineer, your options are to start a company, move into non-technical management, or marry someone richer than you.</p>

13

<p>What is big? Most people only want to make "a lot" of money but few set an actual numerical goal to reach. If a goal is too vague, you can never reach it. </p>

<p>So how much do you want to make? Based on this amount, this narrows the range of options. </p>

<p>Back in the days when I was foolish and delusional enough to believe my profs that there were jobs for chemical engineering graduates, I remember doing calculations for absorption towers and the like. </p>

<p>I remember that one of the design parameters was the desired effluent concentration and that this in turn influenced the scale of the unit operation. </p>

<p>I think the money aspect is the same by deciding how much is "big" this defines the scope of options to meet your goal. If "big" for you is 500K, then you need to look at Investment Banking, Law, Medicine, or Management Consulting. </p>

<p>If "big" is 90 to 150 K, this is feasible with a Masters in Engineering (but not chemical - this is a terrible field!).</p>

<p>Whatever road you choose, keep in mind that everyone else wants basically the same thing because greed is a basic human trait. </p>

<p>The key to success in the aforementioned fields is to be the best at whatever your choose to do. In the case of Law, Medicine or IB/MC, this will entail having excellent academics.</p>

14

<p>I'm not sure why you say 90-150k in chemE is not feasible because that's just not true.</p>

15

<p>It's possible, but it probably has the fewest job opportunities compared to the other major engineering fields.</p>

16

<p>My range is from 90 to 150. I'm happy within that range. I don't expect to make a million dollars. I was planning on majoring in EE and then getting an MBA. Is it possible to reach my goal?</p>

17

<p>No. It is not possible. Give up.</p>

18

<p>
[quote]
If "big" is 90 to 150 K, this is feasible with a Masters in Engineering (but not chemical - this is a terrible field!).

[/quote]
</p>

<p>Oh, I don't know about that. I would hardly call it 'terrible. Like I said, it's all about whether you're willing to move to where the ChemE jobs are. I know plenty of ChemE's who make well within the 90-150k salary range. </p>

<p>
[quote]
It's possible, but it probably has the fewest job opportunities compared to the other major engineering fields.

[/quote]
</p>

<p>It also has the least competition compared to the other major engineering fields. </p>

<p>Look at the earnings of engineers as reported by the BLS and you will see that ChemE's stack up quite nicely compared to the others.</p>

<p><a href="http://www.bls.gov/oco/ocos027.htm#earnings%5B/url%5D"&gt;http://www.bls.gov/oco/ocos027.htm#earnings&lt;/a&gt;&lt;/p>

19

<p>sakky, in canada there is serious competition for engineering jobs.</p>

<p>When I graduated, there were about 40 or 45 che grads. In the years leading up to my year, there were 15 to 25. </p>

<p>later reunion trips to school now shows around 60 to 80 per year. Around the time I was there, the numbers really started moving. Many people had degrees in Chemistry or Biology and had come back from 2 or 3 years of working to upgrade their skills.</p>

<p>In Canada, it is tough to find work in process/operations in the chemical or related industries. This is compounded by closures like the recent announcements from Dow of 2 plants in Ontario and 1 in Alberta.</p>

<p>The oversupply of engineers in Ontario is so bad, the professional order has written the government outlining the problem. Also, unlike Law and Medicine, it is far easier for foreign trained engineers to become licensed here and this adds to the numbers.</p>

<p>There are many immigrant (licensed) engineers in Ontario driving cab and the like to get by. I really think chem e is a very poor choice of career and unfortunately, the different websites of che faculties do not mention any difficulties finding work.</p>

20

<p>
[quote]
sakky, in canada there is serious competition for engineering jobs.</p>

<p>When I graduated, there were about 40 or 45 che grads. In the years leading up to my year, there were 15 to 25. </p>

<p>later reunion trips to school now shows around 60 to 80 per year. Around the time I was there, the numbers really started moving. Many people had degrees in Chemistry or Biology and had come back from 2 or 3 years of working to upgrade their skills.</p>

<p>In Canada, it is tough to find work in process/operations in the chemical or related industries. This is compounded by closures like the recent announcements from Dow of 2 plants in Ontario and 1 in Alberta.</p>

<p>The oversupply of engineers in Ontario is so bad, the professional order has written the government outlining the problem. Also, unlike Law and Medicine, it is far easier for foreign trained engineers to become licensed here and this adds to the numbers.</p>

<p>There are many immigrant (licensed) engineers in Ontario driving cab and the like to get by. I really think chem e is a very poor choice of career and unfortunately, the different websites of che faculties do not mention any difficulties finding work.

[/quote]
</p>

<p>See, there it is again. You just betrayed the truth. How many times have I told you to consider moving to Alberta, where the bulk of the chemical engineering jobs are? Yet you won't do it, and then you conclude that ChemE is bad for all of Canada. What's happening in Fort McMurray right now? </p>

<p><a href="http://www.cbc.ca/ns/features/adieulacadie-helloalberta/%5B/url%5D"&gt;http://www.cbc.ca/ns/features/adieulacadie-helloalberta/&lt;/a>
<a href="http://www.workforce.com/section/06/feature/24/32/82/index.html%5B/url%5D"&gt;http://www.workforce.com/section/06/feature/24/32/82/index.html&lt;/a&gt;&lt;/p>

<p>The best you can conclude that ChemE may be bad in Toronto. That I would probably agree with, just like ChemE may not be terribly useful in New York City. But you go to the Texas/Louisiana Gulf Coast, and you can clean up because that's the center of the US petrochemicals industry and hence, that's 'chemical engineering heaven'. The same is true for Alberta, which is the center of the Canadian petrochemicals industry. But you don't want to move there, and then you complain that you can't find a job. That's like an aspiring movie actor who doesn't want to move to Hollywood, and then complains that he can't find casting calls.</p>