Auto Engineer Salaries: How Ford's UAW Deal Stacks Up Against GM, Tesla
Portfolio Pulse from Aaron Bry
The United Auto Workers Union (UAW) and Ford Motor Co have agreed to a tentative deal to end the union’s strike, which includes a 25% wage increase for employees. Post this increase, Ford engineers will be making around $140,000 a year. Engineers at General Motors Co make slightly more than Ford engineers, with an average salary of $117,000 a year. Engineers at Tesla Inc earn more than the other major U.S. auto manufacturers, with an average salary of over $130,000 a year.
October 26, 2023 | 8:06 pm
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NEUTRAL IMPACT
Engineers at General Motors Co make slightly more than Ford engineers, with an average salary of $117,000 a year.
While GM engineers earn more than Ford engineers, there is no immediate impact on GM as there is no mention of a wage increase agreement with UAW.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75
NEUTRAL IMPACT
Engineers at Tesla Inc earn more than the other major U.S. auto manufacturers, with an average salary of over $130,000 a year.
While Tesla engineers earn more than those at Ford and GM, there is no immediate impact on Tesla as there is no mention of a wage increase or union agreement.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75
NEGATIVE IMPACT
Ford has agreed to a 25% wage increase for its employees, which will raise the average engineer salary to around $140,000 a year.
The wage increase will likely increase Ford's labor costs in the short term, which could negatively impact its profitability and potentially its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100