The semiconductor industry is one of the world’s most competitive and best-paying industries. Companies in this sector are constantly searching for new ways to improve their products and services, and as a result, they are willing to pay top dollar for the best talent.
In its industry outlook report, Deloitte said that the global semiconductor industry is expected to grow by 10% in 2022 to more than $600 billion — the highest ever historically — as the demand for chips continues to rise. This translates to good news for job seekers in the semiconductor industry as there will be plenty of opportunities and high salaries on offer.
In this article, we will take a look at the best-paying jobs and companies in the semiconductor industry. We will also provide data on this sector’s top paying roles and cities.
How Much Do Semiconductor Jobs Pay?
According to the Bureau of Labor Statistics, the annual mean wage for all occupations in the semiconductor and electronic component manufacturing industry is $78,580. The highest paid professionals are those in the chief executive roles, averaging $264,370 annually.
The semiconductor industry, like any sector, houses a mix of technical, management, and support staff, but among the employees whose areas of expertise are focused on the technological core, the computer and information systems managers ($188,460), architectural and engineering managers ($176,260), general and operations managers ($179,770), and computer and information research scientists ($169,640) have the highest annual mean wages.
The best-paying nonsupervisory jobs in semiconductors are held by data scientists, earning around $142,150 per year, and computer network architects, earning $140,300, and computer hardware engineers, earning $134,800.
How Companies Determine Salaries For Semiconductor Jobs
The base pay in a semiconductor career path is not the only factor that determines semiconductor salaries. Companies also consider skillset, experience, and qualifications when making offers, and they are willing to pay a premium for the best talent.
For example, someone with 10 years of experience in the semiconductor industry can expect to earn around 20% more than someone just starting out in their career. And professionals with specialized skill sets or qualifications, such as a Ph.D. or MBA, can also expect to earn a higher salary.
The best way to find out how much you can expect to earn in a semiconductor job is to research the salary ranges for similar positions at different companies. This will give you a good idea of the going rate for your skills and experience level.
Which Semiconductor Company Pays the Most?
There are many great semiconductor companies to work for, and they all offer competitive salaries depending on the level of expertise and experience. However, there are a few companies that stand out as the best paying in the industry. Let’s look at how much companies are paying semiconductor engineers.
According to Indeed, the companies that pay the most for semiconductor engineers are the following:
- Boeing: $174,362 per year
- Datamatics Global Services: $148,742 per year
- BEPC Inc.: $145,745 per year
- Dunson and Associates: $123,585 per year
In terms of location, California leads the way, with those in Santa Clara paying the most at $120,738 per year and San Jose second at $117,614 per year. The rest of the cities that record the highest salaries for semiconductor engineers are:
- Linthicum, Maryland: $112,149 per year
- Austin, Texas: $104,840 per year
- Phoenix, Arizona: $103,232 per year
- New Providence, New Jersey: $101,353 per year
- Huntington Beach, California: $100,290 per year
- Syracuse, New York: $97,728 per year
- Clearwater, Florida: $92,085 per year
Qualifying for the Best Paying Jobs in the Semiconductor Industry
The semiconductor industry is one of the most lucrative in the world, with many companies offering high salaries and excellent benefits. However, competition for jobs is fierce, and only the most qualified candidates will be offered positions.
To qualify for a high-paying job in the semiconductor industry, you will need to have a strong educational background in engineering or a related field. In addition, experience working with semiconductor equipment and materials is also essential. Many companies also require candidates to have strong problem-solving skills and the ability to work independently. If you can meet these requirements, you will be well-positioned to secure a high-paying position in the semiconductor industry.
TruPath can help you find the best manufacturing jobs in the semiconductor industry. We have a team of expert recruiters who can connect you with the best companies and help you secure the position you want. We know the manufacturing industry inside and out, and we can help you find the best job for your skills and experience level.