Years of Experience
Those with one to four years of experience at the company can expect to make around $68K per year on average. For those who claim five to nine years of work experience, pay on average amounts to $78K annually. The greater proportion of employees (27 percent) report 10-19 years of experience and bring home median pay of $94K per year.
Nearing the top of the pay scale are Senior Mechanical Design Engineers, Senior Mechanical Engineers, Software Engineers, and Electrical Engineers; while the first receives the highest median pay at $102K annually, the other salaries come in at approximately $99K, about $81K, and approximately $78K, respectively. Among the lower-paid positions at Caterpillar, Inc. are Design Engineers — the median salary for this role approaches around $74K.
When it comes to location, the highest average paycheck (about $86K per year) can be spotted in Lafayette, Ind.; the company's headquarter city of Peoria, Ill. ($84K), Milwaukee, Wisc. ($82K), and Chicago, Ill. ($80K) are the next top-paying cities. Nashville, Tenn. is one of the lowest-paid cities, with earnings averaging $61K. The highest pay by state can be found in North Carolina, where salaries average out at about $90K annually.
Certifications and Degrees
Certified Six Sigma Black Belts are compensated at a much higher rate than non-authorized workers, bringing in close to approximately $107K per year. APICS Certification in Production and Inventory Managements also rank high on the pay scale, with expected average earnings of $102K annually. It pays to have a Master of Business Administration (MBA) at Caterpillar, Inc. — these employees make the most at $122K per year.
The highest-paying skill to have may be Project Management; employees who claim proficiency also report a higher average salary of around $92K annually. One of the more prevalent skills at Caterpillar, Inc. is Microsoft Office, with slightly less than one-fifth considering it a key competency. Other top skills include Microsoft Excel, Engineering Design, and Data Analysis.
At Caterpillar, Inc., there are significantly more males who responded to the survey than females — the male-to-female ratio is more than 3 to 1.
Benefits and Perks
Only 36 percent at Caterpillar, Inc. enjoy paid vacation time, and just 18 percent can take sick leave. For employees looking to save up for their golden years, Caterpillar, Inc. provides an optional 401(k) plan, and most employees participate. Most workers report having health insurance, and a large number of survey participants report having dental coverage. Perks also include life insurance, tuition reimbursement, a casual working environment, and flexible hours.