Bringing in the most money are Senior Mechanical Design Engineers — their earnings average $107K per year. Six Sigma Black Belt Project Managers are a close second at about $102K along with Senior Mechanical Engineers ($96K) and Electrical Engineers (around $79K). With salaries averaging $73K, Manufacturing Engineers are among the lowest paid at Caterpillar, Inc.
Years of Experience
For those with five to nine years of experience, average earnings amount to approximately $79K annually. Workers who have been with the company for more than one year but less than five can make $69K per year on average. The largest fraction of Caterpillar, Inc. people (32 percent) have been working for 10-19 years and earn $99K annually on average.
When it comes to location, the highest average paycheck (approximately $94K per year) can be spotted in Decatur, Ill.; the company's headquarter city of Peoria, Ill. (about $89K), Joliet, Ill. (around $84K), and Milwaukee, Wisc. ($82K) are the next top-paying cities. Expected earnings are below average (approximately $75K) in Aurora, Ill., one of the lowest-paid cities. The highest pay by state can be found in North Carolina, where salaries average out at $87K annually.
Certifications and Degrees
Certified Public Accountants have significantly higher pay than non-accredited workers at $137K per year. Acquiring certification to be a Certified Professional Engineer is rewarded with median pay of about $112K annually. Caterpillar, Inc. provides the highest financial reward to those with a Master of Business Administration (MBA) — these employees rake in $122K per year.
In this role, the best-paying skill appears to be Project Management; individuals who claim it among their capabilities enjoy a higher median salary of around $97K annually. Microsoft Office is considered a run-of-the-mill skill; one in five of Caterpillar, Inc.'s people use it regularly. Three more common skills are Engineering Design, Microsoft Excel, and Data Analysis.
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
As part of compensation, Caterpillar, Inc. gives paid vacation to 38 percent and paid sick leave to 19 percent. Most employees save up for retirement through a 401(k) plan. At Caterpillar, Inc., a large number of workers have health insurance, and a large number of employees have dental coverage. Employees can also look forward to life insurance, a casual working environment, flexible hours, and tuition reimbursement.