Regarding the payroll, how about the average university graduate income, with similar years of working experience, be compared with engineers? Just wonder how good an engineer is paid. In Asia, engineer still can't be treated as a "good" job as the pay is not high enough.
yeah, yeah, the UK should follow the wise moves taken by the US government....get rid of those low-tech low paying jobs, who needs them. Take the proposed defense and NASA savings and give it to Wall Street...how perverted our economy has become.
The neutering of NASA and manned space programs is puzzling at best.
For the real story of how the economy became so convoluted watch the Oscar winning "Inside Job" narrated by Matt Damon.
In response to "goafrit" I tend to think that Engineers across the UK IVY League (IMPERIAL OXFORD, maybe MANCHESTER)tend to enjoy higher than average compensation much like their US counterparts. I actually participated in a study while at STEVENS (Hoboken). Larry, in spite of cutbacks in our Defense establishment, that is still a dominant area in the U.S. for leading edge engineering talent.
In 2010 the average annual salary among the North American engineers was just over $100,000, according to the EE Times annual survey from last year. The annual compensation, including bonuses and overtime pay, averaged $107,300.
Some might argue that U.K. engineers get more benefits from the local authorities and the welfare state - such as free health care - that their U.S. colleagues have to pay for.
But on the other hand those U.K. benefits are paid for by income and sales taxes (VAT).
In the U.K. VAT (sales tax) is 20 percent, the basic rate of tax is 20 percent and above £35,000 income tax goes up to 40 percent.