When it comes to location, the highest average paycheck (approximately $111K annually) can be spotted in East Peoria; Minneapolis ($99K), Milwaukee (around $82K), and the company's headquarter city of Peoria (about $77K) are the next top-paying cities. Those interested in increasing earning potential should avoid the city of Joliet — at $75K, salaries are some of the lowest in the country. Caterpillar, Inc. workers in Minnesota earn the most — $99K per year on average.
Senior Mechanical Engineers rake in the most money, with average earnings of $93K; Senior Mechanical Design Engineers come in second with typical earnings amounting to approximately $93K, while Mechanical Engineers and Buyers rank near the top as well (around $77K and about $75K, respectively). Financial compensation for Manufacturing Engineers is rather low — only $67K — relative to the rest of the company.
Years of Experience
Survey participants who have worked at Caterpillar, Inc. for between five and ten years earn $74K on average. The largest slice of the Caterpillar, Inc. workforce (31 percent) has been working for one to four years and earns around $68K annually.
Certifications and Degrees
Being a Project Management Certificate Holder certainly has its perks — salaries approach $110K and far exceed the paychecks of those without certification. Becoming a Certified ITIL Leader can certainly pay off here; those folks make approximately $100K. Caterpillar, Inc. compensates Doctorate (PhD)-holders the most at $110K per year.
When it comes to skills, Product Development seems to bolster pay the most; employees who claim proficiency also enjoy a median income of about $93K. Project Management is regularly seen around here; approximately one-fifth of those surveyed report it as a core competency. Other top skills include Engineering Design, Microsoft Excel, and Pro/Engineer.
Benefits and Perks
Only half of workers at Caterpillar, Inc. enjoy paid vacation time, and just one in three workers can take sick leave. The vast majority of workers set aside retirement funds in an employer-sponsored 401(k). Health insurance is part of the package for a strong majority of workers, and for a fair portion of workers, dental coverage is too. Advantages of working here also include life insurance, tuition reimbursement, relocation expenses, and a casual working environment.