Four Key Insights To Earning $100 000 Per Year in Your Engineering Career – Ep 074

Image by senivpetro on Freepik

In this session of The Engineering Career Coach Podcast, Chris Knutson interviews Bruce Harpham and discusses career planning, increasing your ability to generate more income, and lifelong learning and certifications. We’ll also give you Four Key Insights To Earning $100 000 Per Year in Your Engineering Career.

“When we are no longer able to change a situation, we are challenged to change ourselves.”  – Viktor Frankl, author of Man’s Search for Meaning

In the Take Action Today segment of the show, Bruce gives some advice on how to position yourself for an increase in responsibility and compensation and how to become more fulfilled in your life.

Bruce is the founder of Project Management Hacks, a career development resource for project managers. Bruce’s project experience includes leading projects at banks and universities. Bruce earned his undergraduate and graduate degrees from the University of Toronto. Bruce’s writing on project management, careers and technology has appeared at ProjectManagement.com, CIO.com, Lifehack.org and many other leading websites.

Listen to this session and learn how to earn your way to a six-figure income as a project manager. Here are some valuable tips from Bruce:

• Take it upon yourself to learn new skills and further develop your current skills
• Be active in professional associations, especially if you want to establish yourself as an expert in your field or you are interested in becoming a thought leader
• Earn a Project Management Professional (PMP) Certification – earning a PMP certification shows that you can make a contribution that goes beyond your technical expertise and understand different ways to engage stakeholders
• Know how to invest in your own skills and your own network
• Be very specific in your goal setting (SMART process)
• Create the habit of proposing a solution rather than asking for opinions
• Establish a morning ritual
• Take someone to lunch or coffee once a month

Four key main predictors that tend to lead to the six-figure income for project managers:

1. Choice of industry – highest salaries can be found in following industries: oil and gas, pharmaceuticals, aerospace, engineering, and consulting
2. Work Experience – people that have reached 10-15 years are much more likely to reach the 6-figure salary
3. Education – project managers with the PMP certification tend to report a 10-15% higher income and also people with graduate degrees like masters or MBA
4. Project Complexity – individuals that are managing $10 million projects or higher have higher salaries

Resources and links mentioned in this session include:

Project Management Hacks Website
Econtalk – Economics Podcast
Michael Hyatt Website
How To Advance Your Career With Associations
Project Manager Salary: 4 Key Insights To Earn $100,000 Per Year
Get The Career Advancement Toolkit
Engineering Career Community
TECC 72: How to Drastically Improve Your Engineering Career and Life in One Hour Per Day with Hal Elrod

Sponsor for this session:

PPI2Pass Review Courses for FE, PE, and SE Exams

What is your first step towards earning a six-figure income after listening to this episode?

We would love to hear any questions you might have or stories you might share about you have increased your salary as a project manager.

Please leave your comments, feedback or questions in the section below.