Here's Why Mechanical Engineering Is A Great Degree

Summary

This video explores the value of a mechanical engineering degree, highlighting its versatility and high earning potential with an average starting salary of $67,000 and mid-career pay around $111,000. It emphasizes the degree's broad application, leading to diverse career paths and an impressive lifetime earning of $3.5 million. The video also touches on job satisfaction, market demand, and the low likelihood of automation, concluding with an overall score of 8.75 out of 10, positioning mechanical engineering as a strong, though challenging, career choice.

Takeaways

• 🎓 A mechanical engineering degree is one of the oldest and broadest categories of engineering, focusing on the design, development, and implementation of mechanical devices and systems.
• 📚 Mechanical engineering classes emphasize materials science, engineering physics, and mathematics, preparing students for a versatile career in various engineering-related professions.
• 💰 With a mechanical engineering degree, early career salaries average around $67,000 per year, increasing to approximately $111,000 in mid-career, and an average lifetime earning potential of $3.5 million.
• 🏆 Engineering degrees are highly respected and versatile, offering numerous career paths even outside traditional engineering roles, due to the recognition of the degree's rigor and problem-solving skills.
• 🌟 Job satisfaction for mechanical engineering graduates is above average, with a score of 69, and the degree is the third least regretted type of degree, with only about 15% of people regretting their choice to major in it.
• 📈 The demand for mechanical engineers is significant, with 316,000 jobs available and a growth rate of 4%, indicating a stable job market for this profession.
• 🛠️ Mechanical engineering skills are in high demand, ranking 77 out of 100 in terms of value to businesses, and the likelihood of automation in this field is low, suggesting job security.
• 🌐 The versatility of a mechanical engineering degree allows for career paths in various industries, including potential roles in coding, leadership, and entrepreneurship.
• 📊 Engineering degrees generally lead to higher lifetime earnings compared to other fields, with mechanical engineering being no exception, offering a high earning potential across different career paths.
• ⚠️ While mechanical engineering degrees offer numerous benefits, they are also known for their difficulty, requiring a significant commitment to study and a strong foundation in mathematics and sciences.
• 🔑 The difficulty of engineering degrees and their high respect in the job market can be a double-edged sword, offering great opportunities but also presenting challenges that require dedication and continuous learning.

Q & A

What is the primary focus of mechanical engineering?

Mechanical engineering focuses on designing, developing, building, and implementing mechanical devices and systems. It is one of the oldest and broadest categories of engineering.

What are the main subjects covered in mechanical engineering classes?

Classes for mechanical engineering typically focus on materials science, engineering physics, and mathematics.

How many mechanical engineering graduates are there per year, and what is the starting salary like?

There are around 35,000 mechanical engineering graduates per year, and they start off making around $67,000 a year in their early career.

What is the average mid-career salary for someone with a mechanical engineering degree?

In mid-career, individuals with a mechanical engineering degree can expect to make around $111,000 a year.

How does the earning potential of an engineering degree compare to other degrees over a lifetime?

Engineering degrees tend to have a higher earning potential over a lifetime, with the average degree earning around $2.4 million, while engineering degrees earn about $3.5 million.

What is the job satisfaction score for mechanical engineering graduates, and how does it compare to other careers?

Mechanical engineering graduates have a job satisfaction score of around 69, which is above average compared to other careers.

What is the demand for mechanical engineers in the job market, and how does it compare to other engineering fields?

There are 316,000 jobs available for mechanical engineers, growing at an average rate of 4%. This is considered average compared to other engineering fields, which may have slower growth rates and fewer job openings.

What additional skills might be beneficial for a mechanical engineer to learn to stay competitive in the job market?

Mechanical engineers might benefit from learning modern skills such as simulation, computational design, coding, statistics, and business skills to stay competitive.

How does the likelihood of automation affect the demand for mechanical engineering skills, and what is the automation likelihood score for mechanical engineering?

The likelihood of automation for mechanical engineering is very low, with a score of about 1.1 out of 100, indicating that the skills learned are highly resistant to automation.

What is the overall score given to a mechanical engineering degree based on the video script, and what factors contribute to this score?

The overall score given to a mechanical engineering degree in the video script is 8.75 out of 10, considering factors such as salary, job satisfaction, demand, flexibility, and the potential for entrepreneurship.

What are some of the challenges or cons of pursuing a mechanical engineering degree, as mentioned in the script?

Some challenges of pursuing a mechanical engineering degree include the difficulty of the coursework, the need to continuously learn new skills due to rapid industry changes, and the potential requirement for additional studies for higher-paying careers.

Outlines

00:00

🎓 The Value of a Mechanical Engineering Degree

This paragraph introduces the topic of whether pursuing a mechanical engineering degree is worthwhile. It emphasizes the importance of engaging with the video by liking and subscribing to overcome the YouTube algorithm. The channel focuses on personal finance, college degrees, careers, and avoiding financial pitfalls. Mechanical engineers are described as professionals who design, develop, build, and implement mechanical systems, with a broad focus on materials science, physics, and mathematics. The degree is common, with about 35,000 graduates per year. The earning potential is highlighted, with early career salaries around $67,000 and mid-career around $111,000, with an average annual salary for mechanical engineers being $88,000. The paragraph also discusses the lifetime earnings of engineering degrees, which are significantly higher than the average degree, and the versatility of engineering degrees in leading to various career paths.

05:01

📈 Job Satisfaction and Market Demand for Mechanical Engineers

The second paragraph delves into job satisfaction and market demand for mechanical engineers. It discusses the average meaning and job satisfaction scores for mechanical engineering graduates, which are slightly above average. The paragraph also touches on the low regret rates for engineering degrees and the high respect these degrees command in the job market, leading to diverse career opportunities. The demand for mechanical engineers is explored, with 316,000 jobs available and a moderate growth rate of 4%. The versatility of a mechanical engineering degree is underscored, as it can lead to various engineering-related professions, and the importance of learning modern skills like simulation and computational design is highlighted. The paragraph concludes by emphasizing the competitive edge mechanical engineers have in the job market, despite not having the highest number of job postings.

10:02

💼 X Factors Influencing the Value of a Mechanical Engineering Degree

The final paragraph discusses additional factors, or 'X factors,' that contribute to the value of a mechanical engineering degree. It highlights the lifetime earnings of engineering graduates, which are substantially higher than the average for all majors. The paragraph also addresses the skills learned as a mechanical engineer, which are highly valued in the job market, and the low likelihood of these skills being automated. The potential for outsourcing engineering work is considered unlikely due to the need for physical presence and hands-on problem-solving. The paragraph acknowledges the difficulty of engineering degrees and the high dropout rate, but also recognizes the propensity for engineers to become entrepreneurs and create wealth. The versatility of mechanical engineering for various career paths and industries is reiterated, concluding with an overall positive score for the degree and a reminder of the importance of personal interest and practicality in career choice.

Keywords

💡Mechanical Engineering

Mechanical Engineering is a branch of engineering that involves the design, development, building, and implementation of mechanical devices and systems. It is one of the oldest and broadest categories within engineering. In the video, it is highlighted as a versatile degree with a wide range of career opportunities and earning potential. The script mentions that mechanical engineers focus on materials science, physics, and mathematics.

💡Salary Potential

Salary Potential refers to the expected earnings an individual can make in a particular career or job role. The video emphasizes that mechanical engineering degrees tend to offer high earning potential, with early career salaries starting around $67,000 and mid-career pay around $111,000. It also discusses lifetime earnings for engineering degrees, which are significantly higher compared to other degrees.

💡Versatility

Versatility in the context of the video refers to the adaptability and wide applicability of mechanical engineering skills across various industries and job roles. The script points out that mechanical engineers can work in different professions, such as materials engineers, which illustrates the broad range of career paths available to those with a mechanical engineering degree.

💡Earnings Over a Lifetime

Earnings Over a Lifetime is a metric that calculates the total income an individual can expect to earn throughout their career. The video script uses this metric to compare the financial benefits of different degrees, highlighting that engineering degrees, on average, result in lifetime earnings of $3.5 million, which is higher than the average for all degrees.

💡Job Satisfaction

Job Satisfaction is a measure of how much an individual enjoys their work on a day-to-day basis. The video discusses job satisfaction in relation to mechanical engineering, mentioning that it scores above average at around 69, and compares it to other professions like clergy and parking lot attendants to illustrate the concept.

💡Meaning Score

Meaning Score is a metric that reflects an individual's perception of how positively their job impacts the world. The script mentions that mechanical engineering graduates have a meaning score of around 51, which is considered average, indicating a moderate sense of fulfillment from their work's societal impact.

💡Demand

Demand in the job market refers to the current need for specific skills or job roles. The video talks about the demand for mechanical engineers, noting that there are 316,000 jobs available and a growth rate of 4%, which is average. It also discusses the importance of being in a job with high demand, as it can lead to higher salaries.

💡STEM Degrees

STEM stands for Science, Technology, Engineering, and Mathematics. The video script mentions that STEM degrees, including mechanical engineering, have the second-lowest unemployment rate, indicating that these fields are in high demand and offer better job security.

💡Automation

Automation refers to the use of technology to perform tasks that would otherwise require human labor. The video discusses the low likelihood of mechanical engineering skills being automated, emphasizing the unique problem-solving and hands-on nature of the work that makes it resistant to automation.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. The video script suggests that engineering degrees, particularly mechanical engineering, can be a strong foundation for entrepreneurship due to the practical problem-solving skills acquired and the potential to identify and capitalize on new opportunities.

💡X Factors

X Factors are additional considerations or unique aspects that may influence the value or appeal of a subject, in this case, a degree or career path. The video uses the term to discuss elements such as lifetime earnings, skill value, and resistance to automation, which contribute to the overall appeal of a mechanical engineering degree.

Highlights

Mechanical engineering is one of the oldest and broadest categories of engineering, focusing on designing, developing, building, and implementing mechanical devices and systems.

Mechanical engineering classes emphasize materials science, engineering physics, and mathematics.

There are around 35,000 mechanical engineering graduates per year, making it a common degree.

Mechanical engineers start with an early career salary of $67,000, increasing to around $111,000 in mid-career.

Mechanical engineering is versatile, with professionals working in various engineering-related fields.

A materials engineer, a specialized role within mechanical engineering, earns around $93,000.

Engineering degrees have high lifetime earnings, averaging $3.5 million, compared to $2.4 million for an average degree.

Engineering degrees are highly respected, opening up numerous career paths even outside of traditional engineering roles.

Mechanical engineering graduates have a job satisfaction score of 69, which is above average.

Engineering degrees are the third least regretted type of degree, with only 15% of people regretting their choice.

Mechanical engineers have a high demand in the job market with 316,000 jobs available and a 4% growth rate.

STEM degrees, including engineering, have the second-lowest unemployment rate.

Mechanical engineers are in high demand by big companies, often ranking first in desired degrees for hiring.

Engineering degrees provide a strong foundation for entrepreneurship, often leading to higher chances of creating successful businesses.

Mechanical engineering skills have a high market value, ranking 77 out of 100 in terms of demand by employers.

The likelihood of mechanical engineering skills being automated is low, around 1.1%, indicating job security.

Engineering degrees, particularly mechanical, offer flexibility to transition into various industries and roles.

Engineering degrees are challenging, with high dropout rates and intense study requirements.

The overall score for a mechanical engineering degree is 8.75 out of 10, highlighting its value for the right person.

Transcripts

is a mechanical engineering degree

worth it that's what we're going to be

talking about today but before we get

into that make sure to

gently tap the like button in order to

defeat the evil youtube algorithm

on this channel we talk about personal

finance college degrees careers and

opportunities that are going to lead you

to success and we also go over how you

can avoid some of the

common financial traps that so many

people end up falling for now if that

sounds like something that interests you

and you haven't done it already go ahead

and hit that subscribe button and ring

the notification bell so that you never

miss out so first of all

what exactly is mechanical engineering

well mechanical engineers are going to

design develop

build and implement mechanical devices

and systems

it's one of the oldest and most broad

categories of engineering

your classes are going to focus quite a

bit on materials science engineering

physics and mathematics

now this is one of the most common

engineering degrees with around 35 000

graduates per year now when it comes to

salary or earning potential

engineering degrees tend to do really

well with a mechanical engineering

degree you're going to start off making

67 000 a year in early career and then

in mid-career pay you'll be making

around 111

000. if you decide to become a

mechanical engineer they make around 88

000

a year but mechanical engineering is one

of the most versatile types of

engineering degrees and so they end up

working in all kinds of different

engineering related professions

for instance you could become a

materials engineer and they make around

93

000. now if you look at the earnings of

an engineer over a lifetime

compared to other types of degrees the

average degree is going to earn around

2.4 million

and engineering degrees earn 3.5

million over a lifetime that's by far

the highest out of any type of degree

out there and of course this was census

data that's been taken like you know the

last 40 years or so so that might not be

true 40 years from now there might be a

better one but

right now engineering is the best and

the best thing about engineering degrees

in general

is that they're very well respected so

even if you don't end up working as an

engineer there's tons of different

career paths you could potentially go

down

it's because owners and hiring managers

respect engineering degrees so much that

a lot of the time they'll just hire

someone

purely because they think they're really

smart and hard working and so there's so

many different career paths that you can

go down and the salary is going to be

really good in a lot of them

on top of that engineering degrees tend

to become entrepreneurs where they have

a chance of making much more than any

salaried 9 to 5 career and i'll talk

about that a little more

later overall i'm going to give this one

a score of 9.5 out of 10.

now when it comes to satisfaction i

always talk about job satisfaction as

well as

meaning job satisfaction is how much you

enjoy doing your job on a day-to-day

basis and then meaning is how much you

think your job

positively impacts the world now when it

comes to the meaning score it's around

51

for mechanical engineering graduates

which is pretty average

and when you look at a specific career

like a mechanical engineer you'll see

that it's around 53

for the meaning score which again pretty

average maybe slightly above average

however when you look at the job

satisfaction it's going to be around 69

which is definitely above average you

can compare that to a good one like

clergy or a bad one like parking lot

attendant

according to ziprecruiter engineering

degrees are the third least regretted

type of degree at only around 15 percent

of people who get them who major in them

end up regretting them and the reason

for that is some of the best jobs are

going to require

advanced degrees however i will mention

here that when it comes to engineering

degrees in general a lot of the time

people are going to get a mechanical

engineering degree and then they don't

end up becoming a mechanical engineer

engineering degrees tend to be really

highly respected and also very flexible

so a lot of the time you're going to end

up becoming a mechanical engineer

maybe you decide you don't like it it's

very easy for you to switch careers go

into something

else i think flexibility is extremely

underrated because

hey let's say you have a plan you know

exactly what you're going to do

i would say 95 percent of the time even

if you have a good plan

things are going to end up changing and

so flexibility is almost like a

safety blanket for you in case your plan

ends up not working out

you still have something to fall back on

with that being said

satisfaction is extremely subjective it

could depend on all kinds of different

things from the industry you work in the

business you work for the people you

work around the area of the country

you're in

the company you're working for all kinds

of different things can

basically have a huge effect on your

quality of life as well as your job

satisfaction and your meaning

so this is the most subjective section

by far it could be 1 out of 10 for one

person and 10 out of 10 for another one

but overall i have to be as objective as

possible here and look at the statistics

as well as my research

i'm going to give this one a 7.5 out of

10 when it comes to satisfaction

next we're going to be talking about

demand and this is all about how much

the market is currently

at this time in history wanting some of

the skills that you are going to learn

with your particular degree

so this one is all about supply and

demand so

businesses need to hire certain types of

people that have certain skills

and there might only be a limited number

of people out there that can do those

things

and so if that happens then they're

probably going to have to raise their

prices and pay people more

that's the great thing about being in a

job in demand one of the downsides

though

is sometimes if it's too in demand then

you're going to be forced to do a lot of

extra work just because there's nobody

else that can do the things that you can

do

so if you decide to become a mechanical

engineer there's 316 000 jobs available

and it's growing at 4 which is average

now the 316 000 is pretty impressive the

four percent is not that great

keep in mind though that there are a lot

of different career paths especially

engineering career paths you can go down

with a mechanical engineering degree

a lot of the engineering degrees don't

have extremely good job outlooks for

instance

materials engineering there's only 27

000 jobs available

and it's growing slower than average at

2 percent if you look at petroleum

engineering there's 33 000 jobs

available

and it's growing around average at 3

percent so again it doesn't look all

that

great but like i said before there's

tons of different career paths that you

can go down

with your engineering degree a lot of

engineers will end up becoming coders

they might go into a leadership role

working for a company

many of them will open up their own

businesses to be competitive as a

mechanical engineer you might want to

learn some of the more modern skills

like simulation

computational design that sort of thing

learning these skills will help you out

quite a bit it might also be a good idea

to learn some coding and statistics as

well as some business skills is never a

bad idea either

now according to the national center of

educational statistics stem degrees have

the

second lowest unemployment rate behind

health degrees of course

and so that's always a really good sign

low unemployment rate is generally a

good thing

and if you look up the keyword

mechanical engineering degree

on monster.com you'll see that 13 000

job postings pop

up you can compare this to a really good

one as well as a really bad one and 13

000 is actually on the higher side

believe it or not now if you look at

surveys of big companies on the types of

degrees that they're looking to hire

engineering degrees come in at number

one even more than business degrees

so even though they may not be actively

posting a ton of job listings for

engineering degrees specifically

if you apply to a job you have a much

better chance of getting an interview

and likely getting hired so overall i'm

going to go ahead and give this one a

9 out of 10. next we're going to be

talking about

x factors and this is anything that we

didn't go over before but still

important so for instance i like to

focus on skills

flexibility how easily automated or

outsourced something is

now one thing i like to look at is how

much you end up earning over a lifetime

with a degree

and engineering degrees in general are

going to earn a lot more than your

average major

so all majors and all different

occupations earn around 2.4 million over

a lifetime and engineering degrees earn

on average around 3.5

but it doesn't stop there because we

already knew the engineering degrees and

the careers you end up going down

tend to pay pretty well the amazing

thing here is that it pretty much

doesn't matter what career path you go

down you're gonna be making well above

average so for instance if you become an

engineer you'll make around 3.6

over a lifetime and if you get into

computer and math it'll be 3.7

management you're going to see 4.1 and

even if you go all the way down to

something like community and legal

service which

generally is only going to make around

1.8 over a lifetime

you'll see that with an engineering

degree you make 3.2

million pretty much across the board no

matter what career path you end up going

down

you're gonna make really good money with

an engineering degree now you can argue

why this

is it could be correlation causation it

could be that people who are smart tend

to go into engineering and so they

tend to do better nobody really knows i

don't know either

my best guess is that it has a little

bit to do with both but with that being

said when it comes to the skills you

learn as a mechanical engineer according

to zip recruiter it's going to rank

around

77 out of 100 which is very very good

you can compare this to the best skill

on the list which is software

engineering or the worst one which is

industrial sewing

and you'll see here that people who have

the skill set of mechanical engineering

are going to be very valuable to

different companies now this doesn't

necessarily mean that if you get a

different degree you're not going to

have a valuable skill set

value is extremely subjective all i'm

saying is that people

on the open market to business owners

and hiring managers how much value they

have to those companies

in terms of those companies giving them

money to perform a service for them

so for instance industrial sewing might

have been the most valuable skill you

could know a hundred years ago

but right now it's not now i also like

to look at the likelihood of automation

which is extremely low for mechanical

engineering only about

1.1 and you can see that with all

different types of engineering degrees

the skills that you learn

as an engineer are very very unlikely to

be automated

first of all you have to learn how to

communicate with other human beings

robots are very unlikely to do that

second of all when it comes to problem

solving there's a lot of

feedback that is involved so you know

you've got a problem

you have a solution or you think you

came up with a solution somebody else

puts their input in there and then you

have to put your input in there

it's just it's very unlikely that a

robot will ever be able to do that

on top of that a lot of the time you're

going to be working with your hands

and you know seeing problems diagnosing

those problems and then fixing them

again something very unlikely for a

robot to be able to do

fine motor skills things you can do with

your hands very difficult

to program a robot to do that repeatedly

on top of that the question of whether

this career will be

outsourced now one comment i get a lot

of the time on my videos

is engineering degrees are not as

valuable in some other countries so for

instance

india and the reason for this is because

they're pretty much over saturated

everyone goes to college to become an

engineer now it's possible that that

could happen here in the us

but highly unlikely in my opinion

engineering has been around

for a long time and it's not as good as

it used to be but it definitely hasn't

gotten saturated so in terms of being

outsourced i think that's highly

unlikely because a lot of the time the

projects you're going to be working on

you'll have to be there

in person i don't think it's something

that you could do over zoom

now i've talked about this before but

engineering degrees tend to create more

millionaires than any other type of

major

and i think it has more to do with the

fact that engineering is a great

prerequisite for you to start your own

business sure

engineering salaries are high and if you

learn personal finance skills you start

investing at a young age you can become

a millionaire in a few decades

but if you want to get rich fast as most

people on youtube want to

then you're going to have to start your

own business and in my opinion because

of the fact that engineering is pretty

much just practical problem solving it's

one of the best prerequisites to

becoming an entrepreneur because

entrepreneurship is all about solving

people's problems

and you're going to be on the cutting

edge of whatever industry you're in you

might even be designing some of the

newest products

and so you're going to see big

opportunities open up so after getting

a few years of experience and learning

valuable skills it's very likely you're

going to see an opportunity

and you're going to be able to jump on

it and i think it's much easier to teach

an engineer

business skills than to teach a business

person engineering skills

and out of all the different types of

engineering degrees mechanical has got

to be one of the most flexible you can

go into tons of different career paths

and different industries with this type

of degree

however i will say and this is something

that's worth talking about because a lot

of people don't mention this

engineering degrees are very difficult i

lived in a scholarship hall with 50 guys

and i probably had maybe 10 engineers in

the hall

and they would basically be studying all

the time

especially during finals week like they

would be studying all the time you'd see

them with like black rings around their

eyes

and then the business majors would just

be partying all the time okay so

i know this is not a very nice thing to

say because everything's subjective but

there are some degrees that are just

objectively easier than others and

engineering degrees are tough

so keep that in mind if you're thinking

of going into engineering there's a

reason that the dropout rate for certain

types of degrees are so high so many

people end up not finishing them

and i can tell you that i probably would

not have been ready my first semester

for an engineering curriculum

or if i did go into that i probably

would have taken less credits

so with that being said i'm going to

give this one an x factor score of 9 out

of 10.

so some of the pros here great salary

even a good salary at the entry level

also a very low chance of it being

automated

some of the cons here are that you're

gonna have to stay on top of things

everything is happening super fast

automation is coming

streamlining of processes so you're

gonna have to learn new skills all the

time

it's also very difficult especially when

you're going to school

engineering degrees are no joke and

additional studies might be required for

some of the higher paying and more

sought after careers but overall i'm

going to give this one a score of 8.75

out of 10

it can be a great option for the right

person obviously

if you hate doing engineering you hate

math you know you're not interested in

it at all

don't go down this career path just

because i say it's good or just because

the pay is good

make sure you do something that you're

interested in and it's also somewhat

practical so you're not wasting your

time and your money

if you want more help doing research and

you don't want to wait for my videos to

come out because i've got like hundreds

in the works right now

go ahead and check out my college degree

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