When it comes to location, the highest average paycheck (approximately $91K per year) can be spotted in Milwaukee, Wisc.; the company's headquarter city of Peoria, Ill. (around $80K), Chicago, Ill. ($77K), and Lafayette, Ind. ($75K) are the next top-paying cities. Decatur, Ill. is one of the lowest-paid cities, with earnings averaging about $58K. By state, Caterpillar, Inc. employees make the most in North Carolina, earning $93K annually on average.
Years of Experience
Average pay is $78K per year for those with five to nine years of experience. Overall, the greater share of Caterpillar, Inc. folks have one to four years of experience and earn an average approximately $70K annually.
Nearing the top of the pay scale are Six Sigma Black Belt Project Managers, Senior Mechanical Engineers, Buyers, and Design Engineers; while the first receives the highest median pay at $97K per year, the other salaries come in at about $97K, $78K, and around $76K, respectively. Manufacturing Engineers make an average approximately $74K, close to the bottom of the company pay scale.
Certifications and Degrees
Monetary compensation comes to $100K annually for Certified Six Sigma Black Belts, far surpassing the earnings of non-credentialed workers. Bigger paychecks are awarded to Certified Professional Engineers with credentials; these people earn around $90K per year on average. Employees who have a Master of Business Administration (MBA), Accounting make the most here, hauling in $116K annually.
The highest-paying skill in this position seems to be Project Management; individuals who report it as part of the repertoire have a median income of $89K per year. Microsoft Office is a popular skill in the Caterpillar, Inc. workforce; just under one-fifth of those surveyed report putting it to use in their jobs. Other skills in demand are Microsoft Excel, Engineering Design, and Data Analysis.
Benefits and Perks
Paid time off is scarce, with only about 37 percent receiving paid vacation and approximately one-fifth of workers receiving sick leave. A large number of employees save up for retirement through a 401(k) plan. Health insurance is part of the package for most workers, and for most respondents, dental coverage is too. Caterpillar, Inc. employees also enjoy perks such as life insurance, tuition reimbursement, relocation expenses, and a casual working environment.