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How Much Can You Make As A Software Engineer?
It is without a doubt that despite choosing a career out of passion and joy, you need to consider the financial aspect of a job and career. No one wants to be a struggling artist, even if you do love what you do and if you love your career.
The reality is that love and passion don't pay the bills, so you need to find a career path that keeps you financially stable while also enjoying what you do. If you find yourself naturally inclined toward computers, technology, and IT, then perhaps you should consider pursuing a career as a software engineer.
Playing into your strengths and interests in computers and IT, software engineering allows you to work in the field of computer sciences developing, designing, implementing, and maintaining digital data and software programs that exist on multiple platforms on multiple devices across the world.
The role you play as a software engineer is extremely important. Not only do you construct many digital elements that large and small organizations use to run their businesses, but you can also provide elements of entertainment in the form of digital and online gaming.
According to the U.S. Bureau of Labor Statistics **(BLS), software developers, of which software engineers are comprised, earn a median annual salary of $120,730. The lowest percentile (10****th **** percentile) earns an annual salary of $64,470 and the highest percentile (90 **th percentile) earns an annual salary of $168,570.
Let us delve deeper into this career path, earning potential, and what this career would entail.
What Is A Software Engineer?
Software engineers and designers create and implement computer systems and applications that get used in real-world applications. From entertainment to professional uses, software engineers design applications for a number of uses, and without them, the digital sphere would probably crumble to the ground.
Software engineers are needed for the success of many digital interfaces and without them, digital software cannot be maintained, managed, or repaired.
Is It Worth It Pursuing A Role As A Software Engineer?
It is extremely worth it to pursue a career in software engineering, and this is for many reasons. The first reason is that there is always going to be a digital demand, and this means that the role of a software engineer will never be obsolete.
You see, when you consider that the world is becoming more technologically advanced and that we function in a digital space, software engineers are always going to be needed to develop the next best thing and to continuously maintain and enhance what already exists.
Second, a career in software development provides you with a great return on investment. Because you do not need to pursue a bachelor's degree or even an advanced degree in the field, it doesn't need to cost you an arm and a leg for your qualification. However, even with just a certificate in hand, you have access to a plethora of careers that have a high potential earning, meaning that you can easily earn back what you have invested into becoming a software engineer or software developer.
Finally, you also have the ability to work from anywhere. This means that remote operations can easily be executed.
There is also the potential for you to work successfully as a freelancer or work for yourself. All you need to have been an established portfolio that will allow your work to speak for itself. You can also have a varied client base that gives you the potential to greatly increase your earning potential
Can You Grow Your Salary?
The potential for growth as a software engineer really comes down to what you do with your skills and expertise. Whether you are working for a large organization or you are freelancing for several different companies, you have the potential to exponentially increase your earning potential.
There are several contributing factors that you would need to consider when seeking to grow and expand your salary. First is your level of education and the qualifications that you have. You could have a certificate, a bachelor's, or a master's degree in software engineering, and each qualification could impact your earning potential
It is also important to note that not all organizations would require a higher degree in software engineering and in most cases they would gladly accept a lower qualification, but you would need to be cognizant of the salary and benefits being offered for such positions.
If you are working as a freelancer or for your own organization, you could charge higher rates for your role if you have higher qualifications.
Next, you would also need to consider your level of experience and your field of expertise within software engineering. In some cases, a video game developer may have a higher earning potential than a web developer, and a full-stack developer may earn more than a back-end developer.
If you have five years of experience, you can charge rates based on your qualifications, or you can pursue management roles as a software engineer. As much as a qualification in software engineering will benefit your career growth, it is an extremely practical role that requires hands-on experience. This means the more extensive your experience working as a software engineer is, the higher your earning potential would be.
This is because some skills are acquired through practical applications and can't be taught through theoretical transmission which is the most common method of teaching in tertiary education.
Who Are The Highest-Paying Employers Of Software Engineers
Many people seek software engineers to work internally, or they hire external software engineering firms to handle all of their software needs. Some of the highest-paying employers of software engineers are Google, Amazon, Alibaba, Tesla, Netflix, Adobe, Pinterest, LinkedIn, Huawei, and Uber to name a few.
Can You Survive Off A Software Engineer Salary?
When you consider that the BLS states the median annual salary for a software engineer to be $120,730, the monthly earnings would be $10,060 per month. You can easily survive on this salary and live an extremely comfortable life provided that you live within your means. You also have the potential to earn higher, provided you work hard and invest in yourself.
It is extremely important to be well informed and aware of the possible earnings you could obtain in a specific role. While it isn't the only factor to consider, it is an extremely important factor. If this is something that you needed to consider before deciding to pursue the career of a software engineer, then you can rest assured knowing that finances would not be a concern – you can earn a great salary as a software engineer.
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