Years of Experience
Workers who have been with the company for more than one year but less than five can make around $68K per year on average. Respondents who have been working for five to nine years make $79K annually on average. Overall, the greater share of Caterpillar, Inc. folks have 10-19 years of experience and earn an average about $99K per year.
Senior Mechanical Design Engineers rake in the most money, with average earnings of approximately $106K annually; Six Sigma Black Belt Project Managers come in second with average earnings amounting to $102K, while Senior Mechanical Engineers and Software Engineers rank near the top as well ($96K and approximately $81K, respectively). With salaries averaging around $77K, Design Engineers are among the lowest paid at Caterpillar, Inc.
When it comes to location, the highest average paycheck ($94K per year) can be spotted in Decatur, Ill.; the company's headquarter city of Peoria, Ill. ($89K), Joliet, Ill. ($84K), and Milwaukee, Wisc. (about $82K) are the next top-paying cities. Those interested in increasing earning potential should avoid the city of Aurora, Ill. — at $71K, salaries are some of the lowest in the country. By state, Illinois offers the highest pay at $88K annually.
Certifications and Degrees
Certified Professional Engineers are compensated at a much higher rate than non-authorized workers, bringing in close to about $115K per year. On average, salaries rise to $114K annually for accredited Certified Public Accountants. The highest-paying degree here is a Master of Business Administration (MBA); Caterpillar, Inc. awards around $122K to these degree-holders.
The highest-paying skill to have in this role seems to be Product Development; employees claiming this as part of the toolbox earn a median of approximately $100K per year. Project Management is regularly seen around here; nearly one in four of those surveyed report it as a core competency. Microsoft Excel, Microsoft Office, and Engineering Design round out the set of key employee skills.
The number of male employees who participated in the survey outweighs the number of women; the male-to-female ratio is more than 3 to 1.
Benefits and Perks
Paid time off is in short supply here, with only two-fifths of respondents receiving paid vacation and one in five respondents receiving paid sick days. A large number of respondents take advantage of the 401(k) plan that Caterpillar, Inc. sponsors. The vast majority of workers can count on health insurance, and most employees have dental coverage as a benefit. Caterpillar, Inc. also dishes out privileges such as life insurance, a casual working environment, tuition reimbursement, and flexible hours.