This question always makes me laugh, but I suppose since the cost of living fails to decrease from year to year people are curious.
Well, if you think about it, what are some important things in life that we need to survive: food, oil, and nuclear power come to mind. These industries rely on Chemical, Industrial, and Nuclear engineers most heavily which is why they would seem to be well endowed.
It is very tough to speculate though because it will depend on the situation. For instance, an engineer working in the Oil Sands of Alberta will be making a huge sum of money as compared to someone doing the same job closer to the city as living conditions are absolute crap and they do require some form of added compensation for working out there.
But if you are truly in this gig for the money, you will want to end up in management. Once you start managing engineering projects and engineers rather than working on the technicalities of the projects you will be making larger sums of money as you will be held with more responsibility.
In short:
- more necessity for products = more pay
- more time invested = more pay
- more of lifestyle given up = more pay
- more responsibility = more pay
Hopefully this helped, but not too much as I would hate for someone to use this as a guide to find their future career. Choose based on what you enjoy doing.
Electrical & Biomedical Engineering '13
McMaster University