IoT Engineer Salary for 2024: A Detailed Salary Guide

Internet of Things (IoT) Engineers develop and maintain the interconnected devices that drive modern technology. Moreover, the revenue in the IoT market is anticipated to display a steady annual growth rate (CAGR 2024-2029) of 9.83%. Given this context, the “IoT Engineer Salary” landscape is influenced by technological advancements and regional economic factors. 

But ever considered how location, experience, and industry demand can impact your earning potential? In this blog, we will talk about the “IoT Engineer Salary” across different regions, providing you with the insights needed to effectively navigate your career path.

Table of Contents

1) IoT Engineer Salary Based on Location

2) IoT Engineer Salary Based on Experience

3) IoT Engineer Salary Based on Industry

4) Factors Affecting IoT Engineer Salary

5) Conclusion

IoT Engineer Salary Based on Location

The salary of an IoT Engineer can vary widely depending on the geographic location. Factors such as the local cost of living, demand for IoT expertise, and the presence of tech hubs significantly influence salary levels. Typically, areas with a high concentration of technology companies and a higher cost of living offer more competitive salaries. 

1) United Kingdom (UK)

The average salary for an IoT Engineer in the United Kingdom can vary based on experience and location within the UK. 

For instance, IoT Engineers in cities like London can earn higher salaries compared to other areas.

2) United States (USA)

IoT Engineers' Salaries in the United States can be significantly higher in tech hubs such as San Francisco and Austin than in other regions of the country. 

These regions also offer more opportunities for career growth and access to cutting-edge projects.

3) India

In India, the average salary for an IoT Engineer can differ widely depending on the city and the level of experience. For example, IoT Engineers in Bengaluru and Mumbai tend to receive better salaries than those in other regions.

Here are some insights into IoT Engineer salaries based on different locations. Let’s explore them:

                                                                                                  Source: Glassdoor

IoT Engineer Salary Based on Experience

The salary of an IoT Engineer is heavily influenced by their level of experience. As professionals gain more years in the field, their expertise and responsibilities grow, leading to higher compensation. Entry-level engineers start with foundational tasks, while mid-level professionals take on more complex projects and leadership roles. Advanced-level IoT Engineers with extensive experience are often at the forefront of strategic planning and innovation. 

1) Junior Level

Junior-level positions often involve tasks such as basic device programming, initial system integration, and assisting senior engineers with more complex projects.

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2) Mid-level

 These engineers are typically responsible for more advanced system designs, project management, and leading small teams. They also play a crucial role in troubleshooting and optimising IoT solutions.

3) Advanced Level

These seasoned professionals are often involved in strategic planning, high-level system architecture, and leading large-scale IoT projects. Their expertise is critical for driving innovation and ensuring the successful deployment of complex IoT systems.

Understanding these salary ranges can help you set realistic salary expectations. Here’s a breakdown of IoT Engineer salaries based on experience:

                                                                                                             Source: Glassdoor

IoT Engineer Salary Based on Industry

Salaries for IoT Engineers can differ depending on the industry. Typically, technology-intensive sectors like Information Technology (IT) and Aerospace & Defence offer higher compensation for IoT Engineers. Nevertheless, the growing demand for IoT Engineers across various industries makes this an exciting and potentially lucrative career field. Let’s explore the income ranges based on different industries:

                                                                                                   Source: Glassdoor

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Factors Affecting IoT Engineer Salary

Several factors impact the salary of an IoT Engineer; some of which include:

1) The location significantly influences an IoT software engineer’s salary. For example, in the United Kingdom, an IoT Engineer in London can earn up to 30% more than one in Manchester.

2) The industry and employer also play crucial roles in salary determination. Sectors like IT and aviation typically offer higher salaries compared to healthcare and manufacturing. Additionally, large companies generally provide better compensation than small to medium-sized enterprises. 

3) Experience is another key factor. IoT Engineers with several years of experience can expect higher earnings than entry-level professionals. In the United States, the starting salary for an IoT Engineer is approximately GBP 51,590, whereas those with ten or more years of experience can earn over GBP 107,800.

4) The market dynamics also affect salaries. High demand for IoT Engineers typically leads to higher salaries, while an oversupply can result in lower wages.

5) Credentials and certifications can enhance an IoT Engineer’s salary. Additional qualifications, like a master’s degree or specific technology certifications, can boost marketability and earning potential.

6) Advanced skills in areas like Data Analytics, Cloud Computing, Cyber Security, and Machine Learning (ML) are highly sought after and can lead to higher salaries.

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Conclusion

The IoT Engineer Salary reflects the growing demand for these skilled professionals, offering lucrative opportunities worldwide. By staying informed and strategically positioning yourself in the job market, you can make a significant impact in this dynamic field. Embrace the IoT future and watch your career soar!

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