These are indeed the best of times and worst of times for engineers. Salaries seem to be climbing steadily, putting most engineers ahead of the inflation curve so that in theory they should be gaining financially. Add in the increasing number of engineers who receive bonuses and stock options and you've got a pretty rosy picture.
But that mention of stock options underscores the insecurity many people feel in today's uncertain economy. Layoffs aren't placating Wall Street investors and that's making engineers nervous. The first rounds of layoffs early this year didn't hit many engineers, but each successive round cuts more deeply into engineering staffs. Pay cuts and forced holidays, both unthinkable a year ago, are not considered unusual today.
Amid this uncertain mix of good news and bad news, we at EE Times are taking an unprecedented step. For the first time, we're opening up our annual "Salary & Opinion Survey" to the general readership, as a part of our continuing effort to monitor what's happening throughout the electronics industry.
Normally, our in-depth survey is mailed to a set number of randomly selected readers.
But when pundits say that the semiconductor industry is in its sharpest slump ever, it's time to shake things up and look more closely at what's going on. So, when you've got half an hour or so (I did say it's an in-depth survey), check in at www.researchstar.com/salary/us.htm. We're particularly interested in your comments, which add depth to the formal responses.
Though things are uncertain now, there are some things we expect to see when we start sifting through the data that will make up the bulk of our Oct. 29 issue. Salaries will undoubtedly
continue to rise over last year's $82,800, which was up markedly over 1999's $75,500.
It might seem quite a while ago now, but remember, during 2000 unemployment was almost nil, and CEOs were scouring the globe for skilled technical workers. In fact, you have to go clear back to 1988 to find the last time salaries went down. Even then, EE Times readers saw only a slim $100 decrease.
The likelihood of raises is the good news. For those who have solid jobs, things are probably pretty rosy. For those looking for a job, it must feel like the worst of times. Whatever your situation, we're hoping you'll tell us how the economy is impacting your job and your finances.
http://www.eetimes.com/
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