Average CAE Engineer Salary in Monaco for 2024

In this article, we will look at the average CAE Engineer salary for 2024 in Monaco and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does a CAE Engineer Make in Monaco?

A CAE Engineer working in Monaco will typically earn around 43,520 EUR per year, and this can range from the lowest average salary of about 22,420 EUR to the highest average salary of 67,360 EUR.

Average Annual Salary
43,520 EUR
Average Monthly Salary
3,626 EUR

Lowest Annual Salary
22,420 EUR
Lowest Monthly Salary
1,868 EUR

Highest Annual Salary
67,360 EUR
Highest Monthly Salary
5,613 EUR

These are average salaries for a CAE Engineer in Monaco and include benefits such as housing and transport. It's also possible for a CAE Engineer to earn more or less than the average salaries shown above.

CAE Engineer salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of CAE Engineer Salaries in Monaco

So we've looked at the average salaries a CAE Engineer will earn in Monaco. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a CAE Engineer can earn between 22,420 EUR and 67,360 EUR on average in Monaco. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a CAE Engineer in Monaco is 43,260 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 43,260 EUR, and 50% of the population earn more than 43,260 EUR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average CAE Engineer salary in Monaco, 25% of the population are earning less than 30,800 EUR while 75% of the population earn more than 30,800 EUR.

75% of the population earn less than 55,220 EUR, and 25% of the population earn more than 55,220 EUR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

CAE Engineer Salary by Experience Level in Monaco

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average cae engineer salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A CAE Engineer in Monaco that has less than two years of experience can expect to earn somewhere in the region of 25,680 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average CAE Engineer salary would increase to 33,960 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a CAE Engineer, the average salary would be 47,540 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 56,880 EUR.
  • 15 - 20 Years Experience. A CAE Engineer with 15 to 20 years of experience can earn an average of 61,180 EUR.
  • 20+ Years Experience. For a CAE Engineer with more than 20 years, the expected average salary increases to 64,180 EUR.

Average Salary by Experience Chart

0-2 Years
25,680 EUR
2-5 Years +31%
33,960 EUR
5-10 Years +40%
47,540 EUR
10-15 Years +20%
56,880 EUR
15-20 Years +9%
61,180 EUR
20+ Years +8%
64,180 EUR

CAE Engineer Salary by Education Level in Monaco

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a CAE Engineer in Monaco based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A CAE Engineer in Monaco with a bachelor's degree education can earn an average salary of 29,160 EUR.

  • Master's Degree. A CAE Engineer in Monaco with a master's degree education can earn an average salary of 56,060 EUR.

Average Salary by Education Chart

Bachelor's Degree
29,160 EUR
Master's Degree +77%
56,060 EUR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Monaco is around 21,200 to 63,600 EUR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

CAE Engineer Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Monaco, a male cae engineer will earn an average of 45,600 EUR, while a female cae engineer will earn around 38,780 EUR.

This means that a male cae engineer earns approximately 18% more than a female cae engineer for performing the same job.

Average Salary by Gender Chart in Monaco

Male
45,600 EUR
Female -18%
38,780 EUR

CAE Engineer Average Pay Raise in Monaco

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a CAE Engineer in Monaco is around 8% every 28 months.

The national average pay raise across all professions and industries in Monaco is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 28 ) × 12  = 3%

What this means is that a CAE Engineer in Monaco can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Monaco for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Monaco.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

CAE Engineer Bonus and Incentive Rates in Monaco

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A CAE Engineer is a low bonus based job, with 11% of employees reporting at least one bonus in the last 12 months.

89% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 1% to 3%.

Received Bonus
11%
No Bonus
89%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Monaco earn approximately 6% more than private sector employees in the same role.

Public Sector
52,880 EUR
Private Sector -6%
49,820 EUR

Salaries for Jobs Similar to a CAE Engineer

In the table below, we have salary information for jobs that are similar to a CAE Engineer in Monaco.

Job Title Category Salary
Acoustics Engineer Engineering 46,280 EUR
Assembly Engineering Technician Engineering 36,940 EUR
Assistant Chief Engineer Engineering 50,660 EUR
Associate Engineer Engineering 42,320 EUR
AutoCAD Drafter Engineering 29,840 EUR
Autocad Operator Engineering 27,560 EUR
Automation Engineer Engineering 48,160 EUR
Automation Engineer Engineering 48,640 EUR
Avionic System Support Engineer Engineering 45,580 EUR
Biochemical Engineer Engineering 41,660 EUR
BMS Engineer Engineering 42,320 EUR
Bridge and Lock Tender Engineering 25,940 EUR
Broadcast Engineer Engineering 44,540 EUR
CAD Design Engineer Engineering 44,780 EUR
CAD Designer Engineering 29,640 EUR
Ceramics Engineer Engineering 41,700 EUR
Chemical Engineer Engineering 45,720 EUR
Civil Drafter Engineering 31,940 EUR
Civil Engineer Engineering 48,140 EUR
Civil Site Engineer Engineering 46,040 EUR
Civil Technician Engineering 28,660 EUR
Commissioning Engineer Engineering 44,180 EUR
Communications Engineer Engineering 51,100 EUR
Condition Monitoring Engineer Engineering 41,660 EUR
Contract Associate Engineer Engineering 41,180 EUR
Contract Engineer Engineering 41,480 EUR
Control Systems Engineer Engineering 43,760 EUR
Controls Engineer Engineering 45,200 EUR
Controls Software Engineer Engineering 39,960 EUR
Corrosion Engineer Engineering 42,320 EUR
Design Engineer Engineering 49,700 EUR
Director of Engineering Engineering 91,520 EUR
Drafter Engineering 31,540 EUR
Drafting Manager Engineering 52,820 EUR
Drilling Engineer Engineering 45,200 EUR
Drilling Foreman Engineering 14,820 EUR
Electrical Draughtsman Engineering 27,380 EUR
Electrical Engineer Engineering 50,520 EUR
Electrical Engineering Manager Engineering 62,420 EUR
Electromechanical Engineering Technologist Engineering 45,260 EUR
Electromechanical Equipment Assembler Engineering 24,720 EUR
Energy Engineer Engineering 48,160 EUR
Engine Assembler Engineering 19,980 EUR
Engineer Engineering 46,880 EUR
Engineering Account Manager Engineering 53,380 EUR
Engineering Chief Designer Engineering 53,840 EUR
Engineering Consultant Engineering 61,580 EUR
Engineering Key Account Manager Engineering 64,200 EUR
Engineering Lab Technician Engineering 46,280 EUR
Engineering Manager Engineering 61,180 EUR
Engineering Planning Manager Engineering 64,720 EUR
Engineering Production Manager Engineering 75,100 EUR
Engineering Project Analyst Engineering 49,200 EUR
Engineering Project Coordinator Engineering 54,140 EUR
Engineering Project Director Engineering 93,100 EUR
Engineering Project Leader Engineering 58,440 EUR
Engineering Project Manager Engineering 61,580 EUR
Engineering Research and Development Manager Engineering 66,120 EUR
Engineering Safety Coordinator Engineering 36,940 EUR
Engineering Sales Manager Engineering 60,880 EUR
Engineering Technician Engineering 38,180 EUR
Engineering Technologist Engineering 34,960 EUR
Environmental Engineer Engineering 43,220 EUR
Equipment Engineer Engineering 41,560 EUR
Equipment Engineering Manager Engineering 62,100 EUR
Estimator Engineering 40,040 EUR
Fabrication Specialist Engineering 35,500 EUR
Fabricator Engineering 23,480 EUR
Facade Engineer Engineering 43,340 EUR
Fiber Analyst Engineering 28,660 EUR
Field Engineer Engineering 47,120 EUR
Field Engineering Manager Engineering 77,380 EUR
Fire Engineer Engineering 46,280 EUR
Fitter and Turner Engineering 15,920 EUR
Forestry Strategic Planner Engineering 50,660 EUR
Generation Engineer Engineering 43,760 EUR
Genetic Engineer Engineering 51,080 EUR
Geological Engineer Engineering 46,720 EUR
Geotechnical Engineer Engineering 47,760 EUR
Heavy Equipment Mechanic Engineering 29,040 EUR
Highway Engineer Engineering 45,620 EUR
HSE Professional Engineering 41,900 EUR
HVAC Engineer Engineering 50,340 EUR
HVAC Supervisor Engineering 42,320 EUR
Industrial Engineer Engineering 45,060 EUR
Industrial Engineering Technologist Engineering 46,280 EUR
Instrument Engineer Engineering 43,340 EUR
Instrument Technician Engineering 24,860 EUR
Instrumentation and Control Engineer Engineering 46,720 EUR
Instrumentation Designer Engineering 41,900 EUR
Instrumentation Engineer Engineering 45,580 EUR
Instrumentation Manager Engineering 45,600 EUR
Irrigation Engineer Engineering 47,540 EUR
Licensed Aircraft Engineer Engineering 45,600 EUR
Locomotive Engineer Engineering 47,540 EUR
Maintenance Engineer Engineering 43,480 EUR
Maintenance Fitter Engineering 18,900 EUR
Maintenance Manager Engineering 45,200 EUR
Manufacturing Engineer Engineering 42,960 EUR
Marine Engineer Engineering 43,520 EUR
Materials Engineer Engineering 42,960 EUR
Materials Researcher Engineering 38,780 EUR
Materials Technician Engineering 34,980 EUR
Mechanical and Electrical Engineer Engineering 45,580 EUR
Mechanical Design Engineer Engineering 49,820 EUR
Mechanical Designer Engineering 38,680 EUR
Mechanical Engineer Engineering 51,080 EUR
Mechanical Engineering Manager Engineering 60,840 EUR
Mechanical Inspector Engineering 43,520 EUR
Mechatronics Engineer Engineering 49,560 EUR
Mining Engineer Engineering 44,780 EUR
Oil and Petrochemical Engineer Engineering 48,160 EUR
Optical Engineer Engineering 44,540 EUR
Optical Instrument Assembler Engineering 25,160 EUR
PCB Assembler Engineering 19,220 EUR
Photonics Engineer Engineering 50,020 EUR
Photonics Technician Engineering 41,480 EUR
Pipeline Engineer Engineering 41,820 EUR
Piping Designer Engineering 27,380 EUR
Piping Engineer Engineering 44,300 EUR
Planning Engineer Engineering 49,360 EUR
Pressure Vessel Inspector Engineering 22,420 EUR
Principal Cost Engineer Engineering 44,720 EUR
Principal Engineer Engineering 43,520 EUR
Principal Support Engineer Engineering 47,540 EUR
Process Engineer Engineering 43,800 EUR
Process Operator Engineering 26,400 EUR
Product Development Engineer Engineering 46,400 EUR
Product Development Technician Engineering 31,980 EUR
Product Engineer Engineering 48,820 EUR
Product Safety Engineer Engineering 43,520 EUR
Production Engineer Engineering 45,720 EUR
Project Engineer Engineering 50,080 EUR
Proposal Manager Engineering 59,480 EUR
Purchasing Engineer Engineering 45,060 EUR
Quality Assurance Engineer Engineering 45,560 EUR
Rail Engineer Engineering 48,200 EUR
Regional Field Engineer Engineering 45,600 EUR
Robotics Engineer Engineering 51,900 EUR
Robotics Technician Engineering 39,160 EUR
Safety Engineer Engineering 45,200 EUR
Safety Inspector Engineering 33,980 EUR
Safety Manager Engineering 51,800 EUR
Safety Officer Engineering 23,260 EUR
Sales Engineer Engineering 50,580 EUR
Scheduling Engineer Engineering 42,460 EUR
Service Engineer Engineering 47,540 EUR
Solar Engineer Engineering 47,760 EUR
Staff Engineer Engineering 45,560 EUR
Static Equipment Engineer Engineering 45,200 EUR
Stationary Engineer Engineering 41,480 EUR
Stress Engineer Engineering 41,180 EUR
Structural Analysis Engineer Engineering 46,840 EUR
Structural Designer Engineering 41,180 EUR
Structural Engineer Engineering 44,300 EUR
Structural Technician Engineering 31,080 EUR
Supply Chain Specialist Engineering 44,140 EUR
Surveyor Engineering 35,000 EUR
Technical Affairs Officer Engineering 23,140 EUR
Technical Assistant Engineering 23,360 EUR
Technical Engineer Engineering 38,700 EUR
Technical Support Engineer Engineering 41,660 EUR
Tender Engineer Engineering 42,320 EUR
Test Development Engineer Engineering 46,160 EUR
Test Engineer Engineering 45,060 EUR
Transportation Engineer Engineering 45,060 EUR
Validation Engineer Engineering 43,340 EUR
Verification Engineer Engineering 45,580 EUR
Wastewater Engineer Engineering 44,780 EUR
Wind Energy Engineer Engineering 46,980 EUR
Wind Energy Operations Manager Engineering 58,200 EUR
Work Planner Engineering 33,440 EUR

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average CAE Engineer Salary in Monaco for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-cae-engineer-salary-in-monaco/.

  • "Average CAE Engineer Salary in Monaco for 2024". World Salaries, https://worldsalaries.com/average-cae-engineer-salary-in-monaco/. Accessed 28 March, 2024

  • Average CAE Engineer Salary in Monaco for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-cae-engineer-salary-in-monaco/.