How Much Money Do Software Engineers Make? And Why The Bar is So Darn Low!
In this blog post, I’ll be answering the question of how much money software engineers make, and of why the barrier to entry of being a software engineer is so low. One of the most interesting thing that I’ve noticed about the field of software engineering, in comparison to something like Wealth Management and Accounting, is that the spread of the hierarchy, and of how much money you make as say a computer programmer, is that there is a massive wealth gap in the field. For example, my roommate is a computer programmer at a very small startup right now in Florida, he makes $13 per hour. Another friend of mine is an expert level programmer out of college and makes almost $100,000.00 per year, while another friend that used to work at my old company is making at least $75,000 per year. Needless to say, compared to something like wealth management where all of the associates make something like $50,000 to $70,000 each, with a minimum bar of typically about $50,000 per year, with advisors all making around $200,000 to $250,000 per year, Portfolio Managers making $100,000 to $200,000 per year, and managers making $200,000 to $400,000 per year each. Compare this to the extreme differences in salaries between jobs in the field of software engineering, and you’ve got yourself an interesting career field for sure. And so, without further ado, in this blog post, I’ll walk you through exactly why software engineers make so much money. For more information, read on or subscribe to our blog for additional details and information.
Other major job and career fields that we’ll be covering include:
Investment Banking Associates
And a host of other top notch career fields, read on or subscribe to our blog for additional details and information.
How Much Money do Software Engineers Make on Average, And What is the Process of Becoming a Software Engineer?
So, I decided to write this blog post because I have taken a certain interest in software engineering and computer science in general as of late, namely because the two other career fields that I have been looking at exploring, namely actuarial science and going for my CPA license, both require at least some basic programming or VBA skills in order to reach the peak in either field. With some close friends of mine also being software engineers, it can be easy to see why writing software is something that I might become interested in. I also have some pretty novice to beginner level experience with the syntax and uses of some basic coding languages, such as SQL, HTML, and Python, and while I am no means a programmer, I can likely get there one day. And now on to the salaries that you can make as a software engineer.
How to Make Money as a Software Engineer
With regards to making money as a software engineer, the typical path is to go to college for computer science, and then from here to get really good at a handful of useful languages on your own time, such as Python, VBA, Excel, SQL, Java, C Sharp, C++, HTML/CSS and a host of other languages. The more you can add to your toolbelt, the greater opportunities you will have in the field of software engineering. Even something like using the programming language Kobal, and becoming a master in your craft of that language, can be extremely useful, and I know many programmers who are making $120,000+ per year in that career field doing that as a job.
There is also the somewhat lesser known path of software engineering as a freelancer, and in using your position as an engineer to build up what is essentially a book of business with regards to your freelance clients. This is obviously much slower to start, but over time can have much greater rewards if you can pull it off. I would probably recommend starting out with track A, and then from here moving forward and offering some other graphic design services to your toolbelt etc. in order to scale. This can definitely get you up to the $100,000 or $200,000 per year mark if you get really good at it.
Should You go for The Salary or Freelance as a Software Engineer?
Once again I say that you should probably go for a combination approach as a software engineer. The reason for this is that if you start out with the salary, you can use this to build up your name recognition and momentum to help you get freelance clients, and can also use it to create career momentum and financial momentum with your own personal finances and investments. I’d say go with the blended approach, and to try and learn as much as humanly possible about the job in order to make yourself indispensable in your field.
Final Thoughts on How Much Money You can Make as a Software Engineer, My Thoughts and Opinions on the Subject
And so, I’ll admit that that blog post was a little bit messy, but that’s what I know so far about the field of software engineering. It is definitely a very good career field to get into, and blends very well with other skills like Finance, Accounting, IT, computer science, Actuarial Science, pretty much any field, including something like physics or medicine, can really help you get a boost by knowing and understanding computer science. For more information on all things business, read on or subscribe to our blog for additional details and information!
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