Exam 3: A Statistical Profile of the Engineering Profession

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The highest paid engineer $=$ Petroleum@\$93,500
The lowest paid engineer = Bioengineering / Biomedical @47,300
$100 * \frac{(93,500-47,300)}{47,300}=97.67 \%$

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If one were to study the hiring patterns of engineers for the past 55 years, it would show that the demand for engineers has always been good, (certainly better than for other college majors over the same time span) even in leaner economic times. At the time of this writing, the economy is slowly improving, and the unemployment rate is decreasing, but still high, due to factors such as corporate downsizing, a sluggish global economy, and loss of jobs in the manufacturing industries. These economic conditions have somewhat slowed the demand for engineers. However, if the economy continues to revive, and unemployment rates for engineers remains low, an increase of graduating engineers and the current enrollments of students should create an increasing demand for engineering graduates. Some experts are predicting an economic rebound for 2013-14. If this occurs, it would be expected that the pace of hiring engineers will increase.