Semiconductor engineers brought in the highest salaries in the integrated circuits sector in 2016, according to a recent survey from Electronic Design.
Semiconductor engineers made an average of $163,416 including bonuses and stock options this year. The group outpaced electrical engineers, who made an average of $113,250.
The rise in salary for semiconductor engineers may be attributed to higher demand for the condensed "smart" power systems needed for recent innovations, such as self-driving vehicles, smart home systems and other technologies - all related to the Internet of Things. In a new report from Scalar Market Research, the Internet of Things market is expected to grow from $1.47 billion in 2016 to $2.9 billion in 2022.
The Electronic Design survey also included engineers in areas of design work. Computer products engineers had the second-highest average salary after integrated circuits engineers in 2016, at $119,492. Those in medical devices, aerospace and marine products, and military devices rounded out the top five.
Electronic Design noted that while outsourcing and software advancement may be eliminating some engineering positions, taking on short-term contracts is becoming a new standard.
"Hopping project-to-project or job-to-job is considered normal in engineering so you're not stuck slaving away at a job for years just for the sake of career advancement," said an industrial control engineer interviewed by the source.