Studying a STEM masters in the US: what master's engineering salary you can expect

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Studying STEM masters in the US what master engineering salary you can expect

Know the salary standard in the US for engineers to evaluate the ROI on your engineering masters abroad.

There are some disciplines where it’s almost imperative to move straight from a bachelor's degree into a post-grad education; without the graduate degree, career progression and mobility is restricted.

And then there’s the engineering field.

A masters degree isn’t a prerequisite for employment. It’s not even necessary to land a good starting salary. So, is it financially worth it to pursue a master’s in engineering - especially if that master’s is in the US? Are there any financial advantages of taking up a master's of engineering degree?

The answer isn’t always simple. You’ll need to weigh up a number of factors - pre, during, and post-studies. Luckily, we’re here to help.

We’ve got everything you need to know about the master's in engineering starting salary you can expect after graduation, the MS in USA costs you might be up against, and the nuances of a STEM master’s in the US.

Masters in engineering salary: Is a masters in engineering worth it?

Engineers tend to make a lot of money.

Sure, there’s a lot of variation in pay scales, but engineering salaries are overwhelmingly respectable. And engineering master’s salaries are even better.

According to Forbes, those with graduate degrees earn around 20% more than those without… and that’s across any discipline.

That’s exactly why undergraduate professors urge students to move straight into their graduate degrees; it’s difficult to find the right time to return to school.

What’s the difference between engineering degrees?

There are definite distinctions between the different levels of engineering degrees:

Bachelor's degree

You have a general understanding, with perhaps a touch of specialization (depending on where you study).

Masters's degree

You can lead a team of engineers – and, more importantly, you’ve narrowed your focus within the different disciplines.

Ph.D. degree

You can pursue research and projects at the highest levels within private and public industries.

The average salary of MIT engineering graduates with a bachelor's degree is $89,710; while those with a Masters in Engineering degree have a median salary of $113K. That’s an enormous difference.

Mean Salary

Bachelor of Science : $88,381

Master of Science $87,812

Master of Engineering :$108,973

Median Salary

Bachelor of Science : $85,000

Master of Science : $85,000

Master of Engineering : $115,000

Already set on an engineering masters? Learn more about Prodigy Finance international student loans now

Do engineers need a master's degree?

Not necessarily. But, there are certainly some advantages to pursuing a master's in engineering.

A master’s degree helps you ramp up your knowledge and develop specialised skills in your field. The salary you can expect from having a master's engineering salary is also way higher than that of a bachelor's in engineering.

Further in this article, we will dive deeper into master's degree in engineering salary, cost of attendance, etc.

How much can my salary increase after a master's in engineering?

Take a look at the average salary of a person with a master's degree versus a bachelor's degree holder in various STEM courses:

Master's Engineering salaries by field of study

Back in 2010, the (American) National Society of Professional Engineers reported the increasing engineering salaries:

New bachelor's degree holders had a median annual salary of just shy of $55K.
After a year or two of experience, they could expect that number to bump to $57K.
With a masters degree and a few years of work, engineers took in about $61K.

Over the years, those master's engineering salary medians have only continued to grow.

How much should a master's degree increase your salary?

Both the growth and difference in income for the bachelor’s and master’s engineering salaries are much easier to see when looking at Carnegie Mellon’s College of Engineering 2020 salary statistics.

In some fields, the jump between bachelor's and average master's salaries is strikingly obvious. Below listed is the average salary of a person with a master's degree & bachelor's.

Getting an I-20 form to apply for your visa

Every international student planning to attend an American university for their masters will receive an I-20 form from their school. You are unable to apply for a visa without this form – and even students from exempted countries must supply this form when they enter the United States.

What’s the relationship between your I-20 form and cost of attendance?

Simply put, the I-20 form outlines the cost of attendance (as provided by the university) and demonstrates your ability to financially meet these line items.

It’s important to note that the CoA provided by the school and your actual budget are likely to differ.

You must meet the CoA provided by the school to secure your visa, whether your personal budget is lower or higher.

Engineering CoA: How much does an engineering masters degree cost?

Whether you’re after a Masters in Engineering or a Masters of Science in Engineering, you know it’s going to cost a pretty penny.

If you’re pursuing a masters degree in the United States, you can expect to pay between $30,000 and 120,000, with the average masters degree cost coming out to be $66,340 as of July, 2021.

But, you’ll need to work out a more specific Cost of Attendance (CoA) to get the financing - and your F-1 visa.

Engineering masters tuition

There are some universities and courses that provide a flat rate fee for tuition. And then there are the MS Engineering programmes in the US which just don’t offer that luxury. You pay according to credit hours.

Understanding credit hour tuition costs

Each course you take has an allocated number of credit hours. Some might be worth two credit hours; others might be four. And, you don’t have complete control over when you undertake particular classes.
There are a minimum number of credit hours that you must complete. Most universities also provide some guidelines as to the maximum number of hours you should take per term.
Work with these numbers to get an idea of the cost per term, and then round upwards.
Be sure to double check the typical rate of increase annually so you don’t make the mistake of underestimating the second year.

As an international student, you’ll get a tuition figure that you must cover to secure the I-20 form needed for your F-1 student visa. But, you may end up paying more or less based on actual credit hours.

At USC Viterbi, for example, you should expect to budget roughly these amounts for a single year of study.

Tuition - $34,368
Mandatory Fees - $868
Room and Board - $12,150
Books and Supplies - $1,200
Personal and Miscellaneous - $2,231
Transportation - $1,125
Health insurance - $2,118
Total - $54,159

However, the costs you must meet for your I-20 forms is slightly different. According to the international office at USC, your I-20 form will list the following expenses:

Tuition - $46,948
Living - $23,924
Total - $70,872

Engineering masters mandatory fees

Tuition is a mandatory expense whether you live off noodles and cereal in a half-room sized flat for a year or not. But, it’s not the only line item that you must pay. Schools have a few other mandatory fees.

Consider UCLA’s master’s degrees fees for the 2021-22 academic year. The following only covers tuition, health insurance, and mandatory fees.

Tuition - $11,442
Nonresident Supplemental Tuition - $15,102
Student Services Fee - $1128
Graduate Students Association Fee - $38.25
Graduate Writing Center Fee - $18.60
Ackerman Student Union Fee - $69
Ackerman/Kerckhoff Seismic Fee - $113
Wooden Center Fee - $37
Student Programs, Activities, and Resources Complex Fee - $114
Document Fee - $80
UC Student Health Insurance Plan - $4,720.11
BruinGO Universal access transit pass fee - $76.34
Total - $32,938.30

With the exception of the document fee, which is a one-time fee, each of these are annual expenses for master’s students. And, there’s no way to waive these fees – whether you use the facilities mentioned or not. You’re still paying for the use of the gym even if you never set foot in it.

Incidentally, UCLA estimates these line items for annual living expenses for master’s students:

University fees - $13,036
Room and meals - $21,663
Books and supplies - $1,998
Transportation - $1,923
Personal - $2,256
Health insurance - $4719 (can be waived off for students with their own insurance)
Loan fees - $905
Document fee - $80 (for entering students)
Total - $46,580

Calculating housing and other international student costs

Every US university is required to provide a cost estimate that includes tuition, housing, and other common expenses. And, these are a terrific place to start for estimates.

But, they’re a starting point only. You’ll need to dig deep. Reach out to current students for accurate representations of what’s available and how much it will cost.

In addition, food and transport costs rarely (if ever) take into account the need to meet with other grad students for a drink to discuss projects. And, they may not even consider **the cost of these activities **(including housing) during the summer months when campuses are typically closed.

Some costs you might not have considered:

Cellphones and internet connection
Electricity and water (if not specifically included in your rent)
Household goods
Software and stationary
Industry associations and club memberships
Campus activities

How much does an MS in USA cost?

Want to get a feel for MS engineering costs? Take a look at some current CoA figures provided by universities - and how they’re broken down:

Master of Science in engineering salary: What’s the ROI on international MS engineering programmes?

It’s one thing to know that your master's engineering salary could increase by 20 or 30 per cent over time. But, what does that really mean? This calculator makes it much easier to determine the ROI on your engineering degree.

Curious to know what you could earn in the long run with a master's in engineering?

Studying abroad is an investment, and it’s important to know the return on investment of your master's degree. There’s a lot to consider, so we’ve put together a calculator which will help you estimate the potential returns over 20 years.

So, Is a masters in engineering worth it?

Definitely, because ROI isn’t always financial. Some students have dream careers that require a master’s, even if it’s not going to provide them with a salary increase of 32%.

Others may want the opportunity to work in another country, which is generally easier when recruiting on an international campus.

Masters in engineering jobs: Your career after your US MS Engineering degree

There’s an additional piece of this puzzle that every international master’s student in the United States must consider – the ability to work in the United States. That means another visit to the international student office. As they work with the university to assist international students in obtaining their visas, they are versed in post-grad visa options as well. Indeed, they may even know which visiting companies have applied for H1-B visas in the past. (Alternatively, you can use the research tools provided by Cornell University.)

You’ll need to keep your career in mind as it’s your responsibility to find a job after you graduate.

In some parts of the world, an advanced degree comes with job placement. But, it doesn’t work like that everywhere. Students from India, for example, maybe shocked to hear that American universities aren’t responsible for finding their MS Engineering graduates a job.

But, that doesn’t mean US universities don’t facilitate the process to some extent. American universities maintain offices dedicated to assisting students to improve their resumes and interviewing skills. They also host career fairs.

1. Making the most of career fairs

Typically, the largest career fairs are held during the fall semester, though you will find some during the spring semester. If you begin your studies in the autumn, you’ll need to be remarkably quick to take advantage of these opportunities.

Different universities attract a diverse set of companies. And, likely, you spend hours drooling over the recruiting companies while narrowing down your options for MS degree in engineering,, so you have a few ideas about which ones you hope to meet when you’re on campus.

It’s impossible to understate the importance of researching companies and preparing yourself prior to career fairs. If there are 400 businesses recruiting on campus during the course of a few days, you simply won’t have time to market yourself to every single company!

2. Doing your own company research and outreach

You’ll need to pursue companies that interest you; that means sending letters of interest, submitting your resume through online platforms, and regularly checking with your programme’s career services department for opportunities. Even if it’s not the university’s job to find you a position, they will bend over backwards to assist you.

Above all, if you’re hoping to take a position in the United States after completing your MS Engineering degree, spend as much time as you can learning about the career and international student services offered by your university before arriving on campus. And remember, a position with a company is the same as acceptance into an American university – it doesn’t guarantee you a visa. You’ll need to make sure you’re on the right side of immigration at all times, so there aren’t any questions when you land your dream job after completing your master’s degree in engineering.

Examples of some of the engineering colleges supported by Prodigy Finance:

Browse more schools and courses supported by Prodigy Finance.

Frequently Asked Questions

What is the average salary for an industrial engineer with a master's? The average salary for an industrial engineer with a master’s degree is somewhere between $128,399 and 136,435.

What is the average salary of a mechanical engineer with a master’s degree?

The average salary for a mechanical engineer with a master’s degree can be somewhere around $100,000.

What is a chemical engineering salary with a master's degree?

A chemical engineering salary with a master’s degree on average would be around $86,000.