When it comes to location, the highest average paycheck (around $87K per year) can be spotted in Aurora, Ill.; Milwaukee, Wisc. (about $85K), the company's headquarter city of Peoria, Ill. ($81K), and Decatur, Ill. ($78K) are the next top-paying cities. High paychecks are not found in Nashville, Tenn.; in fact, at $57K it is one of the worst-paid cities. U.S. pay levels are highest in the state of Illinois; salaries there average to approximately $80K annually.
Years of Experience
Average pay is around $77K per year for those with five to nine years of experience. The largest slice of the Caterpillar, Inc. workforce (30 percent) has been working for one to four years and earns, on average, approximately $69K annually.
Senior Mechanical Design Engineers represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at $92K per year — though Mechanical Engineers, Buyers, and Electrical Engineers also do fairly well at about $79K, $75K, and $73K, respectively. With salaries averaging about $65K, Operations Managers are among the lowest paid at Caterpillar, Inc.
Certifications and Degrees
Certified ITIL Leaders are compensated at a much higher rate than non-authorized workers, bringing in close to $100K annually. Certified Professional Engineers with credentials can live quite comfortably; median salaries come in at approximately $97K per year. Regarding salaries and education, Caterpillar, Inc. pays those with a Doctorate (PhD) the most — $110K.
The best-paying skill to have in this role appears to be Product Development; employees who claim this ability report median compensation of $93K annually. Folks here also tend to know Project Management; on the survey, nearly one in five of workers named it in their skills portfolios. Employees also tend to know Engineering Design, Microsoft Excel, and Microsoft Office.
Benefits and Perks
42 percent have paid vacation, and only about 28 percent can take paid time off for illness. Almost all employees participate in a 401(k) program. Perks cover health insurance for nearly all survey participants and dental coverage for a large number of survey participants. Other privileges include life insurance, tuition reimbursement, relocation expenses, and a casual working environment.