Earnings
 You may believe that money will be the determinant as you examine
potential careers. It's possible to make general assumptions about salary
as it relates to experience levels and the nature of the employer. As
you'll probably discover, compensation comes in many forms and it's
important that you be able to evaluate each of them clearly.
 Salary
Data
 Entry-level salaries vary based on your areas of expertise, experience,
education, supervisory responsibility, accountability for projects, and
the geographic location, size, and industry of the employer. According to
a 2007 Salary Survey by the National Association of Colleges and
Employers, bachelor's degree chemical engineering graduates,
typically one of the highest paid majors reported in Salary
Survey, saw their average offer climb by 5.6 percent over last
year at this time to $59,707.
According the
U.S. Department of Labor, Bureau of Labor Statistics, the median
income
for chemical engineers is $78,860. The lowest 10% earned
$50,060. The highest 10% earned $118,670.
In terms of
starting salaries, the average starting salary for chemical
engineers who have earned a Bachelor's degree is $59,361, while
those with a Master's were offered $68,561. Ph.D. chemical
engineers received average starting salaries of $73,667.
Beyond
Salary
Chemical engineering can be financially rewarding. Money, however, is only
one factor to consider. If you're challenged by your work, take pride in
it, and have fun doing it, you're more likely to do well and earn more,
too. When considering a job offer, look beyond the salary to consider how
well your employer will be able to meet your needs in other important
areas.
Career
/ Professional Needs
- Decision-making
authority -- Will the opportunity exist for you to eventually
'make the call?'
- Promotion /
personal growth potential -- Is this a `dead-end' job, or can you
move up?
- Responsibility
and duties -- What are you supposed to do, and do you look forward
to doing that?
- Staff / peer
support -- Are there people you'll be able to turn to for advice?
Are there people with similar job responsibilities, or are you
going to be the only engineer in-house?
- Title -- What
is your job title going to be, and how will it look on your resume
in two to five years?
Personal
Needs
- Commuting
requirements -- How long will it take to get to work? Will you
have to drive, take a bus, train, or car-pool?
- Compensation --
How much will you make? In addition to salary, other forms of
compensation include bonuses, profit-sharing, stock options, etc.
- Geographic
location -- Will you be in a region (urban, suburban, rural) that
will make you happy? Will you be near family and friends, and is
that important?
- Required travel
-- How often will you be `on the road?' How much do you want to be
on the road?
- Special
expenses -- How much will it cost to take and maintain this job,
figuring in commuting fares, taxes, relocation, etc.?
- Benefits and
perks -- See Data File below for links to information about
benefits and perks.
 Employer
Characteristics
- Company /
Industry History and Image -- Will your values and ideals be
aligned with the company's? Is this important to you?
- Company size --
Each work environment is unique. Factors like a company's size and
its culture will impact your career.
Small Organizations Typical
Characteristics:
- Greater
opportunity to make an impact, be recognized for your work
- Greater
opportunity to develop a broad portfolio of skills
- More frequent
contact with company leaders and clients
- Greater degree
of hands-on training
- Greater
emphasis on contributions and abilities
- Not as likely
to recruit on campuses
- Greater demand
on flexibility, interpersonal skills
- Success and
failure more visible
- Employees often
called on to take more risks
- Greater risk of
business failure
Large Organizations Typical
Characteristics:
- Stronger
starting salaries, health benefits, and retirement packages
- Often provide
professional development programs
- Transfers and
overseas assignments more likely
- Greater name
recognition
- Greater degree
of rigidity in job descriptions
- Greater degree
of bureaucracy
- Less likely to
experience a sense of ownership over a project
- Less
opportunity for quick advancement
- Less
recognition for accomplishments
Company
Culture
 Every organization has its own culture. So do many individual departments
within an organization. The ability to work within the guidelines of your
company's culture on an on-going basis will be a critical factor in
determining long-term employment. Therefore, discovering the
organization's internal structure and functions, managerial style, and
view of employees before entering into employment with them is an
excellent idea.
-
Management
style -- How will your boss manage you? Will you be successful /
happy with that management style?
-
Work
environment -- Do other employees appear to be enjoying their
surroundings? Will you be successful / happy in that environment?
To view a cost of living
analysis or city comparison, visit: Datamasters. For
more information on a company or industry visit:
Salary
and Type of Employer
Salary will vary depending on the industry you work in. Chemical engineers
in business, law, finance, and publications receive the highest median
salaries, followed by those in the rubber and rubber products, and
petrochemicals and petroleum products industries. Chemical engineers in
non-federal government jobs have the lowest average salary, as reported by
the most recent
AIChE Salary Survey.
Salary
and Employer Size
The size of your employer may impact your salary. Working for a firm with
more than 5,000 employees can increase your salary by approximately 15%
over working for a firm employing fewer than 200 people, according to the
AIChE Salary Survey.
Initial
Placement
Traditionally, about half of all chemical engineering graduates with a
bachelor's degree find their first job in industry. Within industry, most
find work in the chemical process industries
Benefits
and Perks
Salary is only one piece of an employee's total compensation package. Many
employers offer financial, educational, and/or health and insurance
benefits that should be carefully considered.
Note: Some resources in this section are provided by the US Department
of Labor, Bureau of Labor Statistics
and the American Institute of Chemical Engineers.
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