<p>How much does a graduate in EE get paid as his starting salary. I am trying to go for a career in semiconductor designing, and was hoping for a six figure starting salary after graduating from Caltech.</p>
<p>From my experience in the semiconductor industry, I would say that starting EE Salaries vary by region and by applicant experience but that the source of a job applicant's degree does not change a salary offer. </p>
<p>Having a Caltech BSEE degree will definitely get you noticed - and should improve your chances of getting an offer, but it will probably not impact the $ amount of that offer.</p>
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How much does a graduate in EE get paid as his starting salary. I am trying to go for a career in semiconductor designing, and was hoping for a six figure starting salary after graduating from Caltech
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<p>Don't hold your breath. According to page 14 of the following PDF, the EECS BS recipients from MIT got an average starting salary of 66k in 2005. So if the MIT EECS students can't get anywhere close to 6 figures, what do you think your chances are?</p>
<p>You can make six figures if you count in cents. If you want money, don't be an engineer (as a career). Go to business school instead.</p>
<p>I would add that if all you want is money, don't be an engineer, and don't go to Caltech. Go to Harvard or Wharton and become an investment banker. Investment banking analysts make about 120k (including bonus), right out of undergrad.</p>
<p>Coming from Caltech you will not make six figures your first year, but you can probably make six figures in a couple years.</p>
<p>You really DON'T make 120k out of undergrad for ibanking</p>
<p>Base Salary is something around 60-65 and bonus can range from 25- 35 on average.</p>
<p>you may make $150,000 straight out of school in i-banking, but you will be working 90 hour weeks. the salary per hour is almost as low as most other jobs coming out of college.</p>
<p>let's add more zeroes!</p>
<p>a few lucky kids get the prize of an 80 hour, 120k/yr (after bonus etc.) job. most start at the standard top school starting salary of 60-65 and work their way up.</p>
<p>Yea. most, including bonuses, do not make more than 100K in their first year. Most of them are also working 100 hour work weeks</p>
<p>Most EE IC designers start ~$55K-$65K. Your salary will follow an exponential for the next 5 to 10 yrs and you'll finally top off ~$150K-$170K. Most designers end up transitioning to project/program leadership roles which opens up the salary to ~$200K. But if you stay technical, you'll retire making $170K or so. Needless to say, most designers will carry a second job as a design consultant but as you can imagine, that can easily increase your work hrs to >80hrs/wk and even if you don't mind it ... be warned, the semiconductor business is high-stakes ... mistakes are costly .... simple errors will result in tens (or even hundreds) of hours of debug/test time and such mishaps eventually lead to lost of contracts, lost jobs etc. Not a pretty picture. </p>
<p>In general, what everyone has posted is true .... you won't get rich being an EE unless you're fortunate enough to sucessfully start your own company and actually suceed. There were so many of these "get rich quickie-start-ups" during the ".com-craze" in the mid-1990's, but a vast majority of these companies (many of them local) has failed.</p>
<p>In spite of all this, EE is a fascinating field that combines science, communication and creativity. I feel it's a career that you'll find enriching and challenging without having to deal with complaining patients (like a physician) since electronics don't talk back.</p>
<p>wow, that`s a lot of eye opening stuff, but i guess i have to kill my dreams of making a lot of money, for the time being atleast. Lets see what the future has in store. </p>
<p>Thanks to everyone, even if the info hurt as hell, truth is always better in such situations</p>
<p>well.....150k is a pretty good salary?</p>
<p>he was hoping for it right out of school, though, i think...</p>
<p>ya, i was hoping for it right after completing my masters in ee</p>
<p>Don't be discouraged by the $-side of things. As a single you can live very comfortably @$50-60K/yr. By the time you complete your Masters you could easily be in the $70-80K/yr category. Most small, commercial semiconductor/communication companies in SoCal offer excellent benefits/bonuses which could amount to $10K/yr depending on sales etc. hence by the time you complete your Masters, you could easily be earning $80K/yr without killing yourself. That translates to a social life ... time for sports, travel etc. You'll be working for the next 30-40yrs and you'll need to enjoy the quality of life and not allow the $ to dictate your lifestyle. I know it's easier said than done but believe me, money isn't everything.</p>
<p>As I mentioned before, the engineering/EE field is extremely rewarding. The creativity is unsurpassed. Just look at your laptop ... Bluetooth, WiFi ... all dreamt up by engineers and subsequently, realized, implemented and manufactured by engineers. MRI's, cardiographs etc.... again, all some wild engineer's imagination years ago but look at it today. Air-bags and micro-accelerometers ... who would've dreamt that?</p>
<p>The field is vast and there are so many oppurtunities to allow your creativity soar. I think CalTech will provide the background and challenge that will enable you to suceed in this field. Most important of all, the quality of your life will be better ... you won't have to deal with cut-throat, dog-eat-dog financial sharks. No .... engineers and scientist are professionals ... they don't behave that way.</p>
<p>I do not understand one thing, isn`t any engineer crazy about earning money?
I realise that I have become crazy somewhat lately after I completed my bachelors , but is it too late for earning money?</p>
<p>Sure, we're all interested in making $ and for some, the more the better. It's just that in my years of experience, I was actually happier as a undergrad or grad student. Sometimes you need to ask yourself, do you really need a mansion? Do you really need a kick-ass BMW or Porsche only to to be limited by the speed laws?</p>
<p>I suppose like most things, you must sample it 1st and then decide for yourself and for me, $ isn't everything. You just can't buy health (you & your loved ones), love, peace and security. I don't want to sound philosophical, but as you get older your priorities change.</p>
<p>Back to your concern ... you could puruse an MBA concurrent with your MSEE. I know that many DOD contractors offer neat fellowship or internship programs that allows for dual grad-degrees.... and by the way, my EE colleagues in the past have remained technical and I do know of others who got their MBA and worked in the finance world.</p>