Bringing in the most money are Senior Mechanical Design Engineers — their earnings average approximately $101K annually. Senior Mechanical Engineers are a close second at about $99K along with Electrical Engineers ($80K) and Mechanical Engineers ($79K). On the lower end are Manufacturing Engineers at $70K on average.
Years of Experience
Respondents who have been working for five to nine years make around $77K per year on average. Workers who have been with the company for more than one year but less than five can make approximately $70K annually on average. The largest fraction of Caterpillar, Inc. people (32 percent) have been working for 10-19 years and earn $97K per year on average.
When it comes to location, the highest average paycheck (about $91K annually) can be spotted in Chicago, Ill.; Lafayette, Ind. ($86K), the company's headquarter city of Peoria, Ill. ($85K), and Aurora, Ill. (around $75K) are the next top-paying cities. Those interested in increasing earning potential should avoid the city of Nashville, Tenn. — at $61K, salaries are some of the lowest in the country. Across Caterpillar, Inc.'s U.S. offices, employees in the state of California earn the most, taking home about $99K per year.
Certifications and Degrees
Salaries approach around $108K annually for Certified Six Sigma Black Belts; non-accredited workers make much less. Certified Professional Engineers with credentials can live quite comfortably; median salaries come in at $99K per year. The highest-paying degree here is a Master of Business Administration (MBA), Accounting; Caterpillar, Inc. awards $116K to these degree-holders.
In this role, the best-paying skill appears to be Product Development; individuals who claim it among their capabilities enjoy a higher median salary of approximately $102K annually. Project Management is a popular skill among Caterpillar, Inc. workers, with approximately one-fourth of those surveyed reporting using it on the job. Microsoft Excel, Microsoft Office, and Engineering Design were also reported by many survey participants.
Benefits and Perks
Paid time off is hard to come by at Caterpillar, Inc.; the company rewards only two-fifths of survey participants with paid vacation time and only 22 percent with sick leave. Most respondents set aside retirement funds in an employer-sponsored 401(k). For a large number of survey participants, benefits include health insurance, and a large number of workers get dental coverage, too. Perks also include life insurance, a casual working environment, tuition reimbursement, and flexible hours.