Years of Experience
Five to nine years of work experience seem to result in median wages of $75K per year. When we consider tenure, a substantial portion of employees (29 percent) have been working for one to four years and make about $70K annually on average.
When it comes to location, the highest average paycheck (approximately $87K per year) can be spotted in Aurora, Ill.; Milwaukee, Wisc. ($87K), San Diego, Calif. ($86K), and the company's headquarter city of Peoria, Ill. (around $80K) are the next top-paying cities. At $57K, Nashville, Tenn. is home to some of the lowest pay in the country. Within the company, workers earn the highest salaries (an average of around $83K annually) in California.
Mechanical Engineers represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at about $77K per year — though Design Engineers, Buyers, and Electrical Engineers also do fairly well at $76K, $75K, and approximately $73K, respectively. Near the bottom at Caterpillar, Inc. are Information Technology Support Analysts, pulling in an average of just $55K.
Certifications and Degrees
Those lacking certification bring in much lower salaries than Certified ITIL Leaders, who make around $100K annually. Acquiring certification to be a Certified Six Sigma Black Belt is rewarded with median pay of approximately $95K per year. Caterpillar, Inc. workers who hold a Doctorate (PhD) are also well compensated, earning about $131K on average.
The best-paying skill to have in this role appears to be Project Management; employees who claim this ability report median compensation of $89K annually. A common skill in Caterpillar, Inc.'s work force is Microsoft Excel; roughly one in six of survey participants report using it on the job. Engineering Design, Microsoft Office, and Data Analysis round out the set of key employee skills.
Benefits and Perks
Paid time off is hard to come by at Caterpillar, Inc.; the company rewards only 43 percent with paid vacation time and only a quarter of respondents with sick leave. A 401(k) program is available, and a large number of employees use it to save for retirement. Health insurance comes as part of the deal for most survey participants, and a large number of respondents report receiving dental coverage as well. Privileges also include life insurance, tuition reimbursement, relocation expenses, and a casual working environment.