Chemical engineers' pay proves recession-proof
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London – Chartered chemical engineers are apparently shrugging off the recession, and are in fact earning on average 5% more than they did in 2008, according to the IChemE 2010 UK and Ireland Salary Survey.
According to the survey, chartered chemical engineers annual pay currently averages £60,400, compared to £57,500 in 2008. Those in the 30-39 age bracket, it found, typically earn around £8,500 a year more than a non chartered chemical engineer of the same age.
Salary growth has, however, slowed since 2008. The biennial pay increase for chartered chemical engineers was £2,900 between 2008 and 2010 compared to £4,500 (2006 to 2008) and £4,700 (2004 to 2006). For non chartered chemical engineers biennial growth was £1,000 compared to £2,900 (2006 to 2008) and £2,100 (2004 to 2006).
Average annual salaries are highest for chemical engineers working in oil & gas exploration and production (£62,500), contracting (£58,800) and oil refining (£57,000). The only sectors to see a decline in median salaries since 2008 are consultancy and plastics.
Median salaries are unchanged for UK chemical engineers working in R&D while those in a manufacturing and production role have enjoyed an 8% median increase. Chemical engineers working in construction and installation have seen median salaries increase by 15%.
Median salaries are highest for chemical engineers based in the South Central region (£58,515/y), the South East (£56,000/y) and Wales (£49,526/y), added the IChemE report. There was also good news for chemical engineering graduates with competitive median starting salaries of £27,500/y - a £1,500/y increase since 2008.
“Naturally chemical engineers haven’t been unscathed by the downturn but the survey proves that chemical engineering is still a good place to be - for income and for job prospects. And it also shows the value of being a chemical engineer is all the greater if you’re chartered,” commented David Brown, IChemE chief executive.
