When it comes to location, the highest average paycheck (approximately $87K per year) can be spotted in Aurora, Ill.; Milwaukee, Wisc. (around $85K), the company's headquarter city of Peoria, Ill. (about $81K), and Decatur, Ill. ($78K) are the next top-paying cities. Expected earnings are below average ($57K) in Nashville, Tenn., one of the lowest-paid cities. The highest pay by state can be found in Illinois, where salaries average out at $80K annually.
Years of Experience
Those who have five to nine years of work experience see average salaries of about $77K per year. The greater proportion of employees (30 percent) report one to four years of experience and bring home median pay of $69K annually.
The highest average salaries go to Senior Mechanical Design Engineers, who bring in close to around $92K per year, though Mechanical Engineers are not far behind at $79K along with Buyers ($75K) and Electrical Engineers (approximately $73K). Among the lower-paid positions at Caterpillar, Inc. are Operations Managers — the median salary for this role approaches $65K.
Certifications and Degrees
Those lacking certification bring in much lower salaries than Certified ITIL Leaders, who make approximately $100K annually. Bigger paychecks are awarded to Certified Professional Engineers with credentials; these people earn $97K per year on average. At Caterpillar, Inc., employees who hold a Doctorate (PhD) receive the highest salaries at $110K.
The highest-paying skill to have may be Product Development; employees who claim proficiency also report a higher average salary of about $93K annually. It's pretty common to find people here who know Project Management; about one in five consider it a key competency. Engineering Design, Microsoft Excel, and Microsoft Office were also reported by many survey participants.
Benefits and Perks
As part of compensation, Caterpillar, Inc. gives paid vacation to 42 percent and paid sick leave to 28 percent. Nearly all survey participants participate in a 401(k) program. Caterpillar, Inc. provides health insurance to the vast majority of employees, and most employees do receive dental coverage. Privileges also include life insurance, tuition reimbursement, relocation expenses, and a casual working environment.