What are the highest paying fields for industrial engineers and in what specialization?

Updated on : December 3, 2021 by Robert Hughes



What are the highest paying fields for industrial engineers and in what specialization?

It may not result in the highest salary possible, but from the point of view of the median salary by specialty category, it would have to say that a government defense contractor or even a federal government employee who dedicates a career to using analytics and estimation (costs, systems analysis studies, etc.), especially in R&D environment (where data is limited, so typical statistical techniques are not always applicable) works quite well. Most of these types of employees earn more than 6 figures with 10 years or less of experience. These jobs typically require a large number of applications.

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It may not result in the highest salary possible, but from the point of view of the median salary by specialty category, it would have to say that a government defense contractor or even a federal government employee who dedicates a career to using analytics and estimation (costs, systems analysis studies, etc.), especially in R&D environment (where data is limited, so typical statistical techniques are not always applicable) works quite well. Most of these types of employees earn more than 6 figures with 10 years or less of experience. These jobs typically require a great deal of application of simulation studies and / or statistical analysis, especially regression models.

The high end will never make you rich, but salaries of 110 to 155 thousand (slightly more in higher cost-of-living locations) are not unusual after 15 to 25 years of experience. If one wants the opportunity for a 7-figure salary, stock options, etc., of course this is not the way to go. Unless an IE reaches a very high level in a manufacturing company and therefore no longer performs IE-type work, annual salaries are usually much lower than those listed above.

I hope this helps.

As for the "maximum salary", the highest salary would be paid to a financial engineer. These people start out as financial analysts outside of engineering school and eventually take on increasing responsibilities. Some even end up managing hedge funds or acting as CFOs for companies.

For the highest salary right out of school, entering operations management or operations research for a major industrial company (3M, GE, Siemens, etc.) is probably the best option. This ceiling isn't that high, but if you're in business long enough, you'll generally get out of engineering practice and into a role.

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As for the "maximum salary", the highest salary would be paid to a financial engineer. These people start out as financial analysts outside of engineering school and eventually take on increasing responsibilities. Some even end up managing hedge funds or acting as CFOs for companies.

For the highest salary right out of school, entering operations management or operations research for a major industrial company (3M, GE, Siemens, etc.) is probably the best option. This limit is not that high, but if you are in business long enough, you will generally exit engineering practice and take on a role more similar to that of executive management.

Much less than you think.

The way I've come to understand it is that Industrial Engineering in the workplace ultimately focuses on greatly optimizing the way people communicate between processes, finding methods to improve the level of communication by altering workflows. .

With computing, the tools used to communicate are optimized, which in itself is very powerful.

When it comes to education, I first did my bachelor's degree in IE and it has helped me a bit in my classes. The databases developed smoothly after studying them in IE and during my algorithm courses I had an advantage in linear programming (optimizat

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Much less than you think.

The way I've come to understand it is that Industrial Engineering in the workplace ultimately focuses on greatly optimizing the way people communicate between processes, finding methods to improve the level of communication by altering workflows. .

With computing, the tools used to communicate are optimized, which in itself is very powerful.

When it comes to education, I first did my bachelor's degree in IE and it has helped me a bit in my classes. The databases ran smoothly when studying in IE and during my algorithm courses I had an advantage in linear programming (optimization simulations) and graphical algorithms. These are the two things you look at in Industrial Engineering.

During an internship at IE one project I had was optimizing the design of the point of use sites from a warehouse to the mechanics within a facility ... This could translate quite well into a software engineers project.

During my current job as a software engineer (part-time), all the statistics classes I took during my undergrad at IE really paid off.

In the end, I decided that I was drawn to these fields because of my passion for efficiency, improvement, and my love of puzzles. However, software development was for me, as I found a love for programming.

IE is extremely flexible within the industry, considered by many to be the "jack of all trades", while software development is necessary in almost every industry today.

Regardless, go for what you enjoy the most. I don't see any of these races losing their marketability anytime soon.

Yes,
I am not in finance although I have done several finance consulting projects. I am an industrial engineer for the sake of clarity and honesty. Emphatically, yes, an industrial engineer can work in the financial markets due to the high level of flexibility that the degree offers. Think about it. The first two years of industrial engineering draw heavily on math and engineering science. We are talking about ordinary differential equations, D operator methods, partial derivatives, integrals, multivariate calculus, statistics, matrix algebra, matrix augmentation, in my case fluid mechanics, th

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Yes
I am not in finance although I have done several finance consulting projects. I am an industrial engineer for the sake of clarity and honesty. Emphatically, yes, an industrial engineer can work in the financial markets due to the high level of flexibility that the degree offers. Think about it. The first two years of industrial engineering draw heavily on math and engineering science. We are talking about ordinary differential equations, D operator methods, partial derivatives, integrals, multivariate calculus, statistics, matrix algebra, matrix augmentation, in my case fluid mechanics, thermodynamics, materials science, stress analysis and a number of Tough engineering science topics, not to mention heavy projects done in C ++ / MATLAB and Visual Basic. That? Yes. That's just the first two years of study. The next two years are heavily based on operations research and optimization mathematics using OR programming techniques, they also introduce us to neural networks and genetic algorithms at the undergraduate level, as well as a host of optimization algorithms, not to mention some additional topics in statistics. The industrial engineer knows how to correctly design an efficient neural algorithm at the undergraduate level and how to build a precise genetic search algorithm that is computationally efficient, using computational budget to build and fit an algorithm that best attributes an optimal solution in a mathematical expression. . . The industrial engineer is well versed in how to optimize search algorithms with respect to preventing early convergence and correctly diversifying the generation of test solutions in a number of different contexts. Ideally, any individual with an IE degree should be comfortable with the different typologies of neural learning, backpropagation techniques, evolutionary programming, swarm intelligence optimization, as well as classical metaheuristic search algorithms and stochastic algorithms with respect to system optimization. mathematical and engineering.

Industrial engineering is very mathematical and as such IE is well equipped to solve a variety of mathematical problems and IE has strong skills in C ++ / MATLAB / VB that would make it more than ideal in the financial industry. Just make sure you are strong in these areas. Industrial engineers have strong mathematical aptitude as well as strong coding skills acquired by solving challenging programming tasks at an undergraduate level and these skills are ideal for the financial industry.
Do it because you like the problem solving process and not because it pays you a lot, believe me, the problems you will face on a daily basis require a lot of self-learning algorithm formulation / modification and this process takes some time. After that you normally write pseudocode on paper and go through the algorithm steps mentally before coding, debugging and optimizing and then adjusting your optimization / prediction algorithm to better meet the calculation budget, I like to graph the display performance of the Convergence algorithm vs calculation budget, as well as other parameters, is enormously fun, however, you have to be in it for the love of it.

Excellent question!

It's great that you want to specialize, in fact, it's vitally important.

The danger of becoming an IE without any specialization is that you can easily fall into the trap of receiving a lot of non-specific work without a tangible or obvious application of engineering knowledge. IE's are good at doing a lot of things and are often called skilled engineers in all trades, but just because you can do a lot of things doesn't mean we should.

Saeed Doroudiani is right: math skills, data management (processing, analysis), and computer skills can really boost your career in

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Excellent question!

It's great that you want to specialize, in fact, it's vitally important.

The danger of becoming an IE without any specialization is that you can easily fall into the trap of receiving a lot of non-specific work without a tangible or obvious application of engineering knowledge. IE's are good at doing a lot of things and are often called skilled engineers in all trades, but just because you can do a lot of things doesn't mean we should.

Saeed Doroudiani is right - math skills, data management (processing, analysis), and computer skills can really boost your logistics industry career and will prepare you for virtually any business endeavor. EIs working in logistics can easily be divided into sectors such as e-commerce and finance.

A book that all IE should read at least once:

The Goal: A Process of Continuous Improvement: Amazon.com: Eliyahu M. Goldratt, Jeff Cox: Books

Ultimately, the most important thing is that you specialize in a field of industrial engineering that is particularly interesting to you, be it manufacturing, operations research, operations management, logistics, facilities planning or simulation modeling, or any other! thing!

I hate using cliches, but it's true that you'll make more money by being good at something, and the easiest way to be good at something is by making sure you love doing it. Money is important, but a hefty paycheck won't necessarily lead to long-term job satisfaction ... and it won't get delivered to you from day one!

First, common sense is so rare that it is often mistaken for a superpower.

Second, the first wave of improvements is often what we call "ripe fruit." With some basic analysis tools, most technicians or managers can achieve this level of improvement.

  • For example, nearly all of our professional staff received Lean Six Sigma green space training. However, despite this, many have returned over time to "batch" thinking.

Take flaws. With common sense, it can be reduced to a defect rate of 1 to 2%. On the surface, that sounds pretty good, until you realize how many components are in many devices. Or you do 20

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First, common sense is so rare that it is often mistaken for a superpower.

Second, the first wave of improvements is often what we call "ripe fruit." With some basic analysis tools, most technicians or managers can achieve this level of improvement.

  • For example, nearly all of our professional staff received Lean Six Sigma green space training. However, despite this, many have returned over time to "batch" thinking.

Take flaws. With common sense, it can be reduced to a defect rate of 1 to 2%. On the surface, that sounds pretty good, until you realize how many components are in many devices. Or you make 2000 a day. Therefore, a 2% defect rate is a huge waste of money. But going further requires a good foundation in statistics, analytical skills, and just good, solid engineering.

Industrial engineers also have job titles like "manufacturing engineer" or quality engineer.

In my first job, with a communications systems manufacturer, I was tasked with cutting costs. This resulted in product redesigns and was based on my experience as an electronics technician (which is what I did in the military).

In my second engineering job, I was hired as a manufacturing engineer. My job was to determine the manufacturing process, troubleshoot existing processes, and design mounting hardware (using CAD). Later I became an R&D engineer, which made me a project engineer for product design projects (both PM and lead engineer). I also wrote test software using Visual Basic.

IE is not math intensive like EE or ME, but I still have math through Diff Equ.

  • Engineers, what was the hardest class you took in college, and what advice do you have for future students taking that class?

Also, I have to write this:

  • What screams "I'm an engineer"?

As someone who has done both, I can tell you that both are great options in their own right. These are some of the main differences:

Electric engineering

  • EE is very technical. You are more likely to end up in R&D departments and technical-oriented jobs.
  • EE is more difficult. The curriculum consists of very abstract topics with a steep learning curve. You will need to spend more time in your studies to get good grades.
  • EE will make you top qualified for some specialty jobs. There are some jobs that require a degree in EE in particular.

industrial engineering

  • IE is geared towards war
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As someone who has done both, I can tell you that both are great options in their own right. These are some of the main differences:

Electric engineering

  • EE is very technical. You are more likely to end up in R&D departments and technical-oriented jobs.
  • EE is more difficult. The curriculum consists of very abstract topics with a steep learning curve. You will need to spend more time in your studies to get good grades.
  • EE will make you top qualified for some specialty jobs. There are some jobs that require a degree in EE in particular.

industrial engineering

  • IE is management oriented. The combination of management and engineering courses means that you are very likely to end up as a manager at some point.
  • IE deals with the big picture rather than the small details. You are less likely to end up working in a niche area and more likely to be exposed to a wide variety of jobs.
  • IE will qualify you for more jobs. There are fewer jobs where your education will be a perfect fit, but many where your broad skill set can come in handy.

In short, if you want to become a specialist and an expert in a limited subject, and if you can endure very difficult courses and with a lot of mathematics, you can opt for Electrical Engineering. If you want to get into management or if you want to work on business related problems, you can opt for Industrial Engineering.

It appears to have an average of 65,000 nationwide in the US.

I found this job description from Tesla:

Industrial Engineer

Paper

The industrial engineer is responsible for analyzing and optimizing the transportation, material handling and storage flow, designs and processes related to the production of all Tesla products. We are looking for a talented and highly motivated person to join the PC engineering team. This team is responsible for supporting all the physical engineering needs of the Production Control Team, including the design of mechanisms for the transport and staging of parts and solutions for safety and the erg.

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It appears to have an average of 65,000 nationwide in the US.

I found this job description from Tesla:

Industrial Engineer

Paper

The industrial engineer is responsible for analyzing and optimizing the transportation, material handling and storage flow, designs and processes related to the production of all Tesla products. We are looking for a talented and highly motivated person to join the PC engineering team. This team is responsible for supporting all the physical engineering needs of the Production Control Team, including the design of mechanisms for the transport and staging of parts and solutions to ergonomic and safety risks, as well as improvement of processes and warehouses, and the launch of new warehouses, processes and products. Projects. Successful team members will be highly proactive and self-reliant in pursuit of improvement projects,

This position reports to the Associate Manager of the PC Engineering Team.

Responsibilities

• Analyze and improve processes with a focus on lean optimization.
• Support process and warehouse adjustments to improve and change space availability.
• Develop designs.
• Develop business cases for improvement projects such as external storage, variant reduction and automation.
• Direct workflow for changes and training for implementation.
• Create documentation for training materials such as job cards, standard work, and standard operating procedures.
• Collect parts data for inventory and database improvement and accuracy projects.

Requirements

• Bachelor of Science or higher in an engineering discipline, or equivalent in exceptional skill and experience.
• Work efficiently and productively in independent and team environments.
• Communicate clearly using excellent written and verbal skills.
• Demonstrated talent to implement process flow improvements.
• Mastery of AutoCAD 2015 or similar 2D CAD software.
• Experience in referencing and manipulating bills of materials.
• Familiarity with the management and manipulation of asset databases.
• Knowledge of Tableau and creating dashboards is preferred.
• Ability to program with SQL.

Generally, when I studied IE in university, everything was focused on designing factories and processes in the best possible way to minimize costs.

I did my Masters in Industrial Engineering. As people have already mentioned here, industrial engineering is a very employer-friendly job. You can steer your career into a different field at any time by learning the basics. The military employs operations analysts, all the big financial firms employ statisticians who are basically operations research analysts, the manufacturing industries employ supply chain engineers, programming engineers, and I can keep going, but I think you understand what people mean. does with IE related fields.

I currently work as an operations analyst in a startup but I have

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I did my Masters in Industrial Engineering. As people have already mentioned here, industrial engineering is a very employer-friendly job. You can steer your career into a different field at any time by learning the basics. The military employs operations analysts, all the big financial firms employ statisticians who are basically operations research analysts, the manufacturing industries employ supply chain engineers, programming engineers, and I can keep going, but I think you understand what people mean. does with IE related fields.

I currently work as an operations analyst at a startup, but I have developed an interest in data science, and since I learned programming and analytics during my master's degree, it is not that difficult for me to make the switch. That is the benefit of studying IE.

These are some of the fields you can enter. I'm not going to make this answer too long explaining them all, but explore them and find a field that interests you.

  1. Operations analysis
  2. Supply chain analysis
  3. Data warehousing and business intelligence
  4. SAP
  5. Projects management
  6. Systems engineer
  7. Scheduling and scheduling

I studied these courses as part of my master's degree and I can tell you that it prepares you to conduct complicated analysis and also to present those findings to stakeholders and generally within the company as valuable business decisions.

One thing I would definitely like to tell you is to do Python, R, and SQL as part of your learning. Data analysis is part of all IE related jobs and knowing these programming languages ​​would give you an edge over others.

"Disrespect" is sweetening the feeling they have, "Hate" is a better term to describe it. The reason is very simple. Most engineers, mid-level and low-level managers in the manufacturing world tweak things within their area of ​​responsibility to make life easier for them. In my experience, 20% of these adjustments are win-win and highly publicized within the company. Win-win situation, no problem. However, the remainder is borne by some other unfortunate guy, vendor, vendor, or customer; the harm often exceeds the benefit. So they keep such modifications "under the radar." On

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"Disrespect" is sweetening the feeling they have, "Hate" is a better term to describe it. The reason is very simple. Most engineers, mid-level and low-level managers in the manufacturing world tweak things within their area of ​​responsibility to make life easier for them. In my experience, 20% of these adjustments are win-win and highly publicized within the company. Win-win situation, no problem. However, the remainder is borne by some other unfortunate guy, vendor, vendor, or customer; the harm often exceeds the benefit. So they keep such modifications "under the radar." Enter IE with your ability and job description to eradicate such "anomalies." Combine this with the tendency of top managers to make a point every now and then; its popularity will be inversely proportional to its ability. Since you cannot be attacked directly -no IE survives without the support of the top management-; attacks from the belly to the rain, mainly in the form of defamation through gossip and reactive harassment disguised as disrespect, among other things.

He was 23 years old, had a bachelor's and a master's degree in industrial engineering. I am now 28.

At first I started as a financial analyst working in an oil transportation company. I then worked in consulting for a year, before switching to private equity, where I had the opportunity to join a portfolio company as VP of Business Development, and now I'm going for an MBA.

I decided early on that I wanted to learn how to help companies grow, and my interests were in finance and strategy. I never actually took an industrial engineering job per se, but again, that's a loose term given the breadth of the

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He was 23 years old, had a bachelor's and a master's degree in industrial engineering. I am now 28.

At first I started as a financial analyst working in an oil transportation company. I then worked in consulting for a year, before switching to private equity, where I had the opportunity to join a portfolio company as VP of Business Development, and now I'm going for an MBA.

I decided early on that I wanted to learn how to help companies grow, and my interests were in finance and strategy. I never actually took an industrial engineering job per se, but again, that's a loose term given the breadth of IE's syllabus.

I think what IE taught me was a way of seeing the world and companies, a structured approach to thinking and different tools with which to tackle problems, which I have used in different situations to add value. I believe that my studies were useful in all my roles and that they were well received in all the places that I applied. You might forget about advanced optimization and statistical modeling if you don't take a specific route, but you will passively use what you've learned to solve other problems. Plus, you gain a general understanding of many disciplines that make leading other more technical people easier.

In general, as others have said, I would recommend that you think carefully about what matters most to you or at least what interests you, and think about how what you have learned can add specific value to your choice. The options are endless.

There are several ways to earn a higher salary, and these tips are not limited to engineering:

Negotiate a salary increase. To do this, you better have the achievements to justify a significant salary increase.

  • Keep developing your skills, that's for sure
  • Stay current with your industry. Learn to see the big picture, so your personal contributions improve business results.
  • How can I stop being an average engineer?
  • How can you improve your engineering career by studying online?

Move to another company. The labor jump for raises such as lateral movements works best early in your career. The only other you

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There are several ways to earn a higher salary, and these tips are not limited to engineering:

Negotiate a salary increase. To do this, you better have the achievements to justify a significant salary increase.

  • Keep developing your skills, that's for sure
  • Stay current with your industry. Learn to see the big picture, so your personal contributions improve business results.
  • How can I stop being an average engineer?
  • How can you improve your engineering career by studying online?

Move to another company. The labor jump for raises such as lateral movements works best early in your career. The only other time this job is if you move to a company with a higher pay scale.

Go to management. Many engineers end up managing projects, so they include developing those skills. Or, earn an MBA or a degree in Management Engineering.

  • Why did you decide to become an engineering manager rather than remain an engineer?
  • See some of the other answers to that question.

Of course, you may not get a raise after all ...

Edit: Jason Caton also mentioned consulting. Which is part of the big "go into business on your own".

  • What is it like to have the mind of an engineer and the heart of an entrepreneur?

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