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sakky, is what u say true for all engineering majors or are only talking about traditional engineering majors like electrical, computer and mechanical engineering? it seems as though an undergraduate biomedical engineering does not carry the same career insurance as other engineering majors. i also agree with sakky that mit engineers have the option to go into finance and engineering. the problem is most people arent blessed with the luxury like sakky of getting into mit.
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"The harder I work, the luckier I get." - Samuel Goldwyn
Mech E, ECE, Chem E, or Civil E have great job security from any ABET certified curriculum. I assume that MIT graduates will have better salaries than state school graduates, mostly because they work harder, not because they are lucky.
Bio Engineering pays significantly less! I started at a state school in Chem E because it has the highest paying average salary ($55k according to that CNN website). I really really hated Chem E, really really did not want to take P. Chem, so I transferred to Cornell. The average starting salary for a Cornell Bio E is 35k!
If you are pre-med you should be interested in Bio Engineering, as the material is related to medicine. Being a Mech E premed would be more difficult because the med school pre-reqs are not part of the curriculum.
Those are my opinions. Here are the facts:
Bachelor Engineering Degree | average salary
Aerospace/aeronautical/astronautical $50,993
Agricultural 46,172
Bioengineering and biomedical 48,503
Chemical 53,813
Civil 43,679
Computer 52,464
Electrical/electronics and communications 51,888
Environmental/environmental health 47,384
Industrial/manufacturing 49,567
Materials 50,982
Mechanical 50,236
Mining & mineral 48,643
Nuclear 51,182
Petroleum 61,516
src-http://www.bls.gov/oco/ocos027.htm