Determining architect and engineer salaries involves careful weighing of several factors - not just the talent and experience of the candidate, but also how much you can afford and what other companies pay their employees. You want to strive for a figure that's high enough to attract top talent, but not so much that you can't afford to keep them.
Engineers and architects go through years of schooling and may have several certifications and degrees; a one-size-fits-all approach to setting their salaries isn't enough. Competitive and individualized compensation is key to attracting and retaining them.
Compare salaries of architects and engineers by geographic location
You may want to start by finding out what the going rate in your city is, or you may want to find out what other cities in your region pay, so that you can make your company stand out. There are several online tools that compute the engineer and architect average salary based on city or state, and can tell you how average salaries translate from region to region.
I recommend: Salary.com offers
salary surveys that are searchable by location, industry and company size. You can also research
cost of living by state, so you'll know how your salary compares to other areas. PayScale offers
compensation reports for employers based on several factors, including geographic location.
Research the engineer and architect salaries other companies are paying via online job boards
Online salary tools are a useful starting point for finding architect and engineer salary info, but they may list salaries at the high end of the scale, or provide a wide range of possible salaries. Online job boards tell you what companies are paying right now, and how salary corresponds to the size of the company or the job requirements. And, by looking at boards that cater specifically to architects or engineers, you won't have to wade through dozens of listings looking for one that's relevant to you.
I recommend: For engineers, check out
Engineer.net or
Dice Engineering. For architects, look at the
American Institute of Architects Career Center or
e-Architect.
Supplement engineer and architect salaries with a generous benefits package
Many job applicants are looking for more than a nice salary; they also want a creative and relevant benefits and incentive package. Sometimes, these benefits can be what entices a candidate to choose one firm over another. Put as much effort into creating your benefits package as you do setting salaries, and consider more than just the traditional health coverage and retirement plan, for example. Current trends in benefits include profit sharing, stock options, employee assistance, tuition reimbursement, flex time and perks like health club membership reimbursement.
I recommend: WorldAtWork features
books and
articles about benefits and incentive packages.
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