New York’s Economy Benefits from Engineering
Figuring out what you want to do as a career for the rest of your working life isn’t always easy. The world is constantly changing, and jobs that are in demand now may be irrelevant in the future. You also want to do something that is challenging but fun, as well as ensure that you have job security.
There are a lot of job opportunities in New York, but not all of them may be what you’re looking for or give you what you need now and in the future. If you’re looking for a position that can serve practically all industries and changes with the times, you might consider going into engineering.
The Value of Engineering to New York’s Economy
New York is a land of opportunity, and there are many different industries that drive the economy forward. The economy of the state is ranked 3rd in the U.S., trailing behind Texas and California. If New York was its own country, it would rank as the 15th or 16th largest economy in the world.
Currently, the state boasts being the leader in the banking, finance and communication industries. New York also has a huge publishing industry, and the state publishes more magazines, newspapers and books than any other state in the nation. However, it also has an incredibly large manufacturing center, as well as a shipping center that sends a lot of products around the world. The technology industry is also growing rapidly within the state. Below are the six main industries in the state of New York:
- Financial services
- Technical and professional services
- Retail trade
- Educational services
Watch this video about the Value of a Professional Engineer license from NCEES.
Annual State Revenue/GDP
In 2018, New York’s economy produced $1.7 trillion, and this accounts for 8% of the nation’s GDP. By 2035, the GDP of New York is expected to rise to $2.5 trillion, with would make this state’s GDP larger than Tokyo, which was the richest city in the world in 2015.
The city of New York and the surrounding metropolitan area dominate the economy, and that is where you can find many of the leading financial institutions, including the New York Stock Exchange and Wall Street. Manhattan also has a lot of the world’s largest corporations. In 2015, it contained more than 500 million square feet of office space.
The Number of Engineering Jobs in New York
In 2018, there were 112,120 architecture and engineering jobs in New York. These were broken down into the following categories:
- Industrial engineers – 12,030
- Mechanical engineers – 11,280
- Civil engineers – 16,790
- Electrical engineers – 10,500
Engineer Salaries in New York
The average annual mean salary for engineers in New York is $89,560. The national mean annual wage for engineers is $87,370, so getting a job as an engineer in New York pays more than other places in the U.S. However, it’s also important to take into consideration the cost of living in the state of New York, your experience and what company you work for, as all of these can play a role in how much money you can make.
For the specific categories of pay, the annual mean wage breaks down as follows:
- Industrial engineers – $94,700 (national mean annual wage = $91,630)
- Mechanical engineers – $91,820 (national mean annual wage = $92,800)
- Civil engineers – $102,250 (national mean annual wage = $93,720)
- Electrical engineers – $103,740 (national mean annual wage = $101,600)
No matter which engineering field you go into, if you move to New York, you have the ability to have a lucrative and rewarding career. With the economy growing, there is also an increased chance of being able to find job openings within your field.
Type of Engineering Work in New York
With so many different industries contributing to the economy of New York and having an impact on the U.S. and the world, there are many options to find an exciting, challenging and rewarding career. You have the option of focusing your career on one specific field, such as civil or mechanical engineering, or you can take a more general approach.
Having a wider skill set will make you a valuable asset in many industries, including manufacturing. However, by having a specific field of study, you have the opportunity to land a lucrative career and live a comfortable life in New York City or within the metropolitan area. Some of the current engineering job openings include:
- Project engineer
- Machine learning engineer
- Administrative engineer
- Research engineer
- Forensic mechanical engineer
- Mechanical engineer
New York Engineering Colleges and Universities
Before finding an engineering position that will set you up for life, you need to obtain the proper education and skills. Earning a degree from a college or university will make you more appealing to employers, as well as give you access to the top companies.
Many institutions of higher learning form partnerships with businesses to ensure that they are producing educated employees that will help these companies become a success. This means that by attending the right college or university, you can develop a network of potential employers in addition to getting an amazing education. Some of the engineering schools in New York that you can consider attending include the following:
- Columbia University (ranked #9 as one of the best engineering schools in America)
- Cornell University (ranked #12 as of the best engineering schools in America)
- The Cooper Union for the Advancement of Science and Art
- Rensselaer Polytechnic Institute
- New York University
- Rochester Institute of Technology
New York’s economy is projected to grow in the future, which may eventually allow the state to become one of the richest places in the world. To achieve that goal, the many industries within the state and the New York City metropolitan area will need an educated workforce with the right skills. As an engineer, you have the opportunity to go into various fields and different industries to make a difference, and you could create a great life for yourself in the process.
If you’re looking for a way to invest in yourself and find a job that will be in demand and pays well, then consider what engineering has to offer. You can then take your talents and knowledge to New York, where you are sure to find a well-paying position.
Are You a New York Professional Engineer
New York professional engineers must renew their licenses every three years. To help you navigate the process, we prepared a summary of the engineer license renewal requirements for New York. This article includes information such as renewal forms, due date, costs, and much more.