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Why are we all so stupid. When I first started college the average salery for a entry level MIS position was 36K a year. Now it is up close to 46k according to <a href="http://money.cnn.com/2007/02/08/pf/c...er07/index.htm%5B/url%5D">http://money.cnn.com/2007/02/08/pf/c...er07/index.htm</a>
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<p>Well, to be fair, engineers still make significantly more than that. For example, according to that same link, ChemE's are making over 60k to start.</p>
<p>But I sympathize with your general point. MIT didn't even offer an undergraduate management major at the Sloan School until 1984. Now, management is the 2nd most popular major at MIT (after EECS). And like I've said on other threads, many MIT grads, including engineers, will take business jobs, i.e. banking or consulting. Similarly, many Stanford engineers will also take business jobs. </p>
<p>I've said it before, and I'll say it again. The real problem is with the engineering companies. For whatever reason, they just don't want to pay their engineers better. Yet apparently they seem to have no problem in paying millions in fees to consulting and banking firms, the very same firms who hired those engineering students who refused to work for those engineering companies because the offers were too low. Hence, these eng companies are STILL paying these guys high salaries anyway, only they're doing so indirectly (through fees to the consulting/banking firms, which then trickles down to salaries to these guys). Since you're going to pay them well regardless, why not just cut out the middleman and just give them better offers in the first place? </p>
<p>Nevertheless, if things continue as they are, engineering is going to continue to lose top talent. The best students are not going to want to get engineering degrees, or if they do, they're going to take non-engineering jobs. </p>
<p>Don't get me wrong. I still think engineering is an excellent choice for the vast majority of college students out there. Most of them end up with liberal arts degrees that truly pay them a pittance. For example, according to that same link above, lib arts grads are getting paid 30k a year to start. They are clearly financially better off in getting an engineering degree. </p>
<p>The problem is at the very top - with the very best engineering students. Most of them are probably better off doing something else because engineering firms do not want to pay them a salary that is commensurate with their abilities. But consulting and banking firms will.</p>