Like many others we have considered on AutomationTextbook, this is a tough question to answer. This is especially because the answer depends on a lot of factors that would be difficult to cover completely. However, there are a few of these factors that will have the biggest impact on how much you can earn in robotics, and those are the ones we will consider in this article.
When working in robotics, you can earn anywhere from about $40,000 a year, to a couple million dollars, but this is a vast generalisation. To come to a more useful range, we need to look at the major factors that determine how much you can earn.
One of these factors is what you do in the robotics industry. For example, the amount of money you could earn as a robotics engineer would be different from what you could earn as a robotics technician. However, it would be good to explore this distinction, because you would need to invest a lot more to become an engineer than you would to become a technician. Your earnings would also depend on where you work, and this can be further broken down by industry or by location.
But first, let’s take a look at your options for work in the robotics industry in terms of what you can do, and how that would affect your potential earnings.
How Much You Can Earn in Robotics Based on What You Do
Robotics Technicians
We start with the first level of labour in the robotics industry. The technicians are necessary to complete most of the highly specified tasks in any project. They get specific instructions from the engineering team and are responsible for following those instructions to execute the project demands. It is very common for their work to consist of most of the physical work involved in setting up, maintaining and repairing robotic systems.
The ideal robotics technician has been trained in the practical application of both electrical and mechanical engineering concepts. In some cases, they also receive training in some level of computer programming, usually focused on a specific robotics system. However, in many cases, these technicians are trained in one of these aspects and then learn the rest of what they need on the job.
According to job boards in the USA, robotics technicians earn an average of about $60,000. As you will see later in this article, this is about 60% of what robotics engineers make in the same country. This should give you a rough idea of the salary difference between the two job positions.
Robotics Engineers
Next, we have robotics engineers. These professionals are responsible for the next level of labour above the technicians. They do a lot of the planning and decision-making that goes into the design stage of the project. These decisions are translated into the technology and procedures that the technicians will use to set up the project. They also come up with the systems and procedures for maintenance and repair that the technicians will use.
The ideal robotics engineer has a background in mechanical or electrical engineering, with a master’s in robotics. He also has a firm grasp of computer programming, at least at the level of programming the machines he is likely to work with.
According to job boards in the USA, robotics engineers earn an average of about $100,000. This average is about 67% higher than the average for robotics technicians in the same country. If you’re interested in finding out how much robotics engineers make in other countries, check out this article.
Robotics Entrepreneurs
Now this is a more complicated category than any of the other two. In theory, this is the highest level of labour in the industry. These people create jobs for professionals in the other two categories. Usually, they come up with some new technology or system and their work involves translating that idea into a marketable product.
It’s easier to think of them as separate from the other two groups, but in reality, this is not always the case. Unsurprisingly, a large proportion of robotics companies are started by robotics engineers. At the early stage, the engineer might be responsible for everything, down to the execution of the project. But for the sake of calculating earnings, we are going to limit our understanding of the robotics entrepreneur to the person who has a stake in the venture or company.
In this case, the earning potential is immense, but it is also very unpredictable. Many ventures fail, and the entrepreneurs behind them might end up not making any money, or might even end up losing some in the process. However, some of them succeed spectacularly. Take Marc Raibert for example. He is the founder and former CEO of Boston Dynamics, one of the most popular robotics startups. The company was first acquired by Google in 2013 for $500 million, and you can be sure that Raibert went home with a substantial paycheck after that deal. It is said that his net worth ranges in the millions of dollars, although exactly how much he made off the Google deal remains unknown. He has also continued to work for the company in different designations; as CEO for a time, and now as Chairman.
How Much You Can Earn in Robotics Based on Where You Work
By Location
Where you work has almost as much of an impact on your earnings as your skill level in the robotics industry. Depending on where you’re comparing, the difference can even be in the tens of thousands of dollars.
To get an accurate picture of this, we did a study of some of the leading robotics industries in the world and ranked them based on how much you are likely to save as a robotics engineer. We found out that after deducting living expenses and taxes, the average robotics engineer in the USA would be left with about $49,000. By comparison, engineers in Japan would save about $21,000. Compared to others on the list, engineers in Singapore have the hardest time saving money due to the high cost of living, and are only able to keep about $7,000 of what they make.
To find out more about the other countries on the list and how they stack up, as well as how the study was conducted, read the article entitled Where do Robotics Engineers make the Most Money?
By Industry
Another thing that can affect your earnings in the robotics industry is what sector your skills are applied in. Robotics is an industry in itself, but robots are rarely designed and produced for the sake of the robot itself. They are usually designed to be applied in other industries. And professionals are required to design or set up these robots. The difference in salaries as a result of this factor is not as significant as the other two, but it is enough to consider.
One major reason you might want to consider this is that certain industries have a significantly higher dependency on robotics than others. This means that some industries have a higher demand for robotics, and consequently robotics engineers. This means more money available to the engineers, technicians, and entrepreneurs who work in that industry.
Robotics professionals could work in the automotive industry, the medical industry, or the food industry, to mention a few. To learn more about industries in which robotics engineers can work, read the article entitled Where can you work as a Robotics Engineer?
Regardless of where you stack up after considering these factors, you can be sure that robotics as an industry is rapidly expanding. It is in its growing phases and this means that there’s a lot of potential. A lot of potential for growth means a ton of money to be made and now is as good a time as ever to figure out if robotics would be a good fit for you.