Aerospace engineers entering the field today, or looking to advance in their careers, have a multitude of options. They can apply at traditional aerospace companies like Boeing or Lockheed, become government employees at NASA, or seek employment and glory at the next generation of aerospace companies, including private firms like Elon Musk's SpaceX or Jeff Bezos' Blue Origin.
Thanks to the higher profiles of these billionaire-owned companies, traditional aerospace firms and NASA are having difficulty recruiting engineers with the "right stuff," so to speak.
Generous compensation packages undoubtedly aid in recruiting. Ann Richmond, deputy director of talent services at NASA, admitted to Fortune.com that NASA has "little bit of a tougher time" competing with private space companies when it comes to salary.
According to Fortune.com, NASA uses the federal government's General Schedule for pay scales, with salaries determined based on the level of degree held, and starting at $54,557 for an engineer with a bachelor's degree. If you have a doctorate, your starting salary will top out at $73,038.
Private companies have fewer financial constraints when it comes to hiring. SpaceX has listed starting salaries for aerospace engineers ranging from $95,000 up to $115,000. A group engineering manager at SpaceX earns $207,314, according to Comparably.com. The average salary in engineering sits at $136,515, Comparably.com reported.
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