Senior Mechanical Design Engineers represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at $109K per year — though Senior Mechanical Engineers, Software Engineers, and Mechanical Engineers also do fairly well at $100K, around $81K, and $79K, respectively. Earning only approximately $74K on average, Manufacturing Engineers make less than most people in the company.
Years of Experience
For those with one to four years of experience, median paychecks reach about $69K annually. Those who have five to nine years of work experience see average salaries of $79K per year. The largest fraction of Caterpillar, Inc. people (27 percent) have been working for 10-19 years and earn approximately $96K annually on average.
When it comes to location, the highest average paycheck ($92K per year) can be spotted in Decatur, Ill.; the company's headquarter city of Peoria, Ill. ($86K), Chicago, Ill. (around $85K), and Milwaukee, Wisc. (about $84K) are the next top-paying cities. On the lower end is Nashville, Tenn. at $62K. By state, the highest pay levels are found in North Carolina, where the average Caterpillar, Inc. employee makes approximately $87K annually.
Certifications and Degrees
Certified Professional Engineers have significantly higher pay than non-accredited workers at $110K per year. Earning a Certified Six Sigma Black Belt certification garners significant financial rewards of $108K annually on average. Caterpillar, Inc. workers who hold a Master of Business Administration (MBA) are also well compensated, earning about $122K on average.
The highest-paying skill to have may be Project Management; employees who claim proficiency also report a higher average salary of around $96K per year. A relatively widespread skill at Caterpillar, Inc. is Microsoft Office; close to a fifth of employees use it for work. Microsoft Excel, Engineering Design, and Data Analysis were also reported by many survey participants.
Men make up the majority of employees who took the survey in a male-to-female ratio of more than 3 to 1.
Benefits and Perks
Paid time off is hard to come by at Caterpillar, Inc.; the company rewards only 37 percent with paid vacation time and only 19 percent with sick leave. A large number of workers save up for retirement through a 401(k) plan. The vast majority of employees receive health insurance, and a large number of respondents get dental coverage. Privileges also include life insurance, tuition reimbursement, flexible hours, and a casual working environment.