Product Engineer Salary
Product Engineers in the United States take home an average $70K annually. Total incomes of Product Engineers incorporate potential for, in a few cases, more than $10K from bonuses and close to $12K from profit sharing; these performance components cause packages to range between $52K and $99K. This group's pay is mainly influenced by geography, followed by the specific employer and experience level. Most Product Engineers report high levels of job satisfaction. Most report receiving medical coverage from their employers and a large number collect dental insurance. Men account for the majority of Product Engineers who responded to the questionnaire — 88 percent to be exact. This report is based on answers to PayScale's salary questionnaire.
Job Description for Product Engineer
Product engineers design and create products, either for the consumer sector or various industries, and also analyze the market and competing products in order to determine customers' needs.Read More...
Product engineers must be familiar with all parts of the product development cycle and up-to-date with all new technological advancements. Once a product idea has been crafted, feasibility analyses should be carried out to determine if a budget exists for the product and its potential to be profitable. Then, the product is designed and a prototype is made, and after sufficient testing is carried out, plans are made to produce the item on a larger scale and send it out to the market. After a product has been deployed, product engineers may need to provide support and issue fixes or improvements if problems are reported. Some products are discontinued when they do not sell well on the market.
Product engineers should be present for all steps of the product development cycle, and some of the work is done independently, but it's important to be able to work well with others during these stages to successfully bring new products to the market. A bachelor's or master's degree in engineering or a related field and a portfolio of past work may be required for this position.
Product Engineer Tasks
- Maintain and support field test programs.
- Support sales and marketing on product and customer issues.
- Maintain and support in-house testing.
- Coordinate prototype submissions and new part approvals.
- Liaison with technical staff and its affiliates on technical issues.
Common Career Paths for Product Engineer
Product Engineers may experience a large salary bump if they progress into a role such as Product Engineering Manager. The latter position pays an average of $108K annually. The most common promotion for Product Engineers is Senior Product Engineer, a position that typically pays $93K annually. Another standard transition for Product Engineers seeking advancement is to assume a Mechanical Engineer role, where pay is often $64K.
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Popular Employer Salaries for Product Engineer
Product Engineers fill the offices of leading firms Chrysler Group LLC., Analog Devices Inc, esri, Micron Technology, Inc., and Texas Instruments, Inc. For Product Engineers, comfortable salaries can be found at Lam Research Incorporated; in fact, median earnings sit around $118K, the highest in the area. Other big spenders include Ford Motor Company, FCA Corp, and Freescale Semiconductor, Inc., top-paying firms where Product Engineers see paychecks nearing $101K, $99K, or $95K.
Johnson Controls Inc, TRW Automotive Holdings and Takata are three other employers with a reputation for below-average pay, all showing salaries around $68K.
Popular Skills for Product Engineer
Product Engineers report using a deep pool of skills on the job. Most notably, skills in Test Engineering, Data Analysis, Product Development, and Pro/Engineer are correlated to pay that is above average. Skills that seem to negatively impact pay include AutoCAD, SolidWorks, and autodesk autocad. The majority of those who know Engineering Design also know Problem Solving and Project Management.
Pay by Experience Level for Product Engineer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. Survey participants with less than five years' experience pocket $67K on average, but those with five to 10 years of experience enjoy a much bigger median of $77K. Product Engineers claiming one to two decades of experience make an estimated median of $85K. More than 20 years of experience mean a somewhat bigger median paycheck of $92K, but it's not much more than what less experienced people make.
Pay Difference by Location
Product Engineers will find that San Jose offers an impressive pay rate, one which exceeds the national average by 57 percent. Product Engineers can also look forward to large paychecks in cities like Santa Clara (+34 percent), Dallas (+18 percent), Dearborn (+16 percent), and Houston (+8 percent). Location is a huge contributor to overall pay, with Product Engineers in Mankato earning a whopping 26 percent below the national average. Not at the bottom but still paying below the median are employers in Phoenix and San Diego (11 percent lower and 5 percent lower, respectively).