Industrial Economic Engineer
Career Area: Engineering
Occupation Group: Mechanical and Related Engineers
Salary
Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.
An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.
A typical Industrial Economic Engineer earns the following wages (national and state):
State
The average salary in North Carolina for those pursuing this career is $73,046
National
The average salary in the United States for those pursuing this career is $78,803
What Does a Professional in this Career Do?
Uses engineering and economic models including game theory to optimize an organization's production process ensuring efficient use of time, resources, and energy.
Employment Trends
The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.
Job demand and job growth is expected at the following rates:
| Location | Growth | |
|---|---|---|
| North Carolina | 25 | +10.6% |
| Nationwide | 767 | +8.3% |
Skills
A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:
Baseline Skills
The following are baseline skills every Industrial Economic Engineer is expected to have in order to experience success in this field:
- Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
- Communication Skills: The ability to convey information to another effectively and efficiently.
- Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
- Microsoft Office: Microsoft Office is an office suite of applications, servers, and services developed by Microsoft.
- Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.
Specialized Skills
These skills are specific to working in this career:
- Industrial Engineering Industry Expertise: Industrial engineering is a branch of engineering which deals with the optimization of complex processes, systems, or organizations.
- Industrial Engineering: Industrial engineering is a branch of engineering which deals with the optimization of complex processes, systems or organizations.
- Cost Estimation: A cost estimate is the approximation of the cost of a program, project, or operation.
- Cost Analysis: Definition of cost analysis 1 : the act of breaking down a cost summary into its constituents and studying and reporting on each factor 2 : the comparison of costs (as of standard with actual or for a given period with another) for the purpose of disclosing and reporting on conditions subject to improvement
- Budgeting: Experience planning how the financial resources of a business or department are to be allocated during the next business period.
Distinguishing Skills
Any Industrial Economic Engineer that possesses the following skills will stand out against the competition:
- Kaizen: Experience creating a culture where everyone working in a department or business is continuously implementing measures that improve the efficiency of the business.
- Ergonomics: Ergonomics is the study of designing equipment and devices that fit the human body, its movements, and its cognitive abilities.
- Engineering Projects: Project Engineering bridges the boundaries between engineering and project management, leading the technical workers who contribute to the building of structures or products.
- Economic Analysis: A systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.
Salary Boosting Skills
A professional who wishes to excel in this career path may consider developing the following highly valued skills:
- Engineering Activities: Working experience of Engineering Activities, which includes all activities or functions of an engineer, invloving the application of science and mathematics to the design, manufacture or maintenance of complex products.
Experience
This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.
| Experience Required | % |
| 0 to 2 years | 30% |
| 3 to 5 years | 58% |
| 6 to 8 years | 8% |
Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.
Students who do not have the expected level of experience may wish to look into internship and employment opportunities.
Common Job Titles
It is possible to find work in this field in positions commonly listed as the following job titles:
- Industrial Engineer
- Outside Plant Engineer
- Lead Industrial Engineer
- Senior Industrial Engineer
- Senior Network Engineer - Outside Plant
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