Aerospace jobs aren't your typical run-of-the-mill employment. A wide variety of jobs exist under the heading of aerospace and fefense employment. Coming up with an appropriate salary can therefore be difficult, and you must take into account a number of factors when coming to your final salary decision.

Aerospace salary most likely eats up the largest part of the budget. You'll want to make sure you're able to entice qualified individuals to fill job vacancies — but you will also want to keep your bottom line in mind so you don't overextend your spending abilities.

Consider this other salary information:

1. The average aerospace engineer salary is in the $70,000-$80,000 range. However, depending on the job within the industry, individuals can earn anywhere from around $45,000 to $110,000.

2. The salary range in aerospace engineering jobs is also affected by who the employer is. For those employed by the federal or even state government, salaries depend largely on the budget and spending approved by politicians.

3. Defense industry salaries also are largely dependent onthe education and work experience of the prospective job candidate.

Action Steps
The best contacts and resources to help you get it done

Use online calculators as part of your salary tools for aerospace and defense employment

Online calculators can be useful in coming up with a median or even starting salary. You'll want to analyze that information and take into account the individual job candidate's experience as part of your offer. Also remember to give yourself room for starting salary negotiations, and take into account quarterly and/or annual raises.

I recommend: Enter the experience level, degree information, job level, primary skill, location, and other information into the EngineerSalary.com calculator to calculate an appropriate salary. Or see what a more general, national salary calculator like this one from Career Builder will recommend.

Purchase reports on defense industry salaries

Salary reports can be very helpful in finding a salary range and more detailed information about what an appropriate salary may be for a given occupation. Along with salaries, you'll want to consider the impact of worker benefits, which can be considered to be just as important as the base salary itself.

I recommend: Learn more about PayScale's salary reports and what kind of detailed salary information is available. Check out Salary.com for reports on specific job titles within the aerospace industry or find jobs by range, from entry level jobs to those with six-figure salaries.

Hire a consultant when determining aerospace pay

A national consulting firm may have a better idea of aerospace pay, especially if you're trying to woo a major player onto your team. A consulting firm can also help you keep salaries in line with your budget.

I recommend: A consulting firm specializing in aerospace and defense, DLA Piper provides a broad spectrum of industry information. Global Employment Consultants offers human resource consulting, along with a variety of other services.

Defense industry salaries – like any salary – need to stay competitive in order to keep the employees you value and recruit new staff. But what is the average aerospace salary? Obviously, starting salaries for aerospace employment will be less than the pay given to seasoned professionals, but it’s also important to determine average defense industry salaries for similar positions for companies in your area.

As a business owner, you’ll want to have accurate, up-to-date defense industry salary information in the following instances:

1. Use salary tools for aerospace and defense employment to help you hire new employees at a fair rate.

2. Use defense industry salary calculators and compensation tools during staff reviews and promotions.

3. Use defense industry salary tools to help you determine fair employee benefits and compensation packages.

Action Steps
The best contacts and resources to help you get it done

Determine fair aerospace salary ranges before hiring new employees

Aerospace salaries run the gamut due to several factors, including job type, experience level, company size and location. Deciphering what a specific position is worth can be dizzying, especially if it's for a newly created aerospace job. Fortunately, there are a variety of defense industry salary tools available that are easy to use and typically provide current information on Internet industry compensation.

I recommend: PayScale can provide an aerospace salary range to help you determine fair pay. The site also shows a salary survey report of aerospace pay based on years of experience. Fill out the form on EngineerSalary.com to receive results regarding aerospace engineer average salary ranges and other aerospace salaries via email.

Stay updated on defense industry salaries to keep employees happy

Offering competitive aerospace salaries to a new employee is obviously important, but it's also important to regularly provide fair salary increases to staff members who have tenure, even if they are not getting promoted, to make sure they don't look elsewhere for a pay boost.

I recommend: Use the salary calculator at Computerworld for an estimate of average defense industry salaries. NationJob has a salary calculator to help you find average pay for various aerospace and defense employment positions.

Compare aerospace salaries on national job boards

You can research all day long and find plenty of hypothetical references, but sometimes real-life examples provide the best information. Check your local newspaper's classified section or search online job boards to find average defense salary information from real job postings. Keep a log for a few weeks to see if a pattern emerges.

I recommend: Search the aerospace jobs at the Aerospace Industries Association (AIA) website. Aeroindustryjobs lets you search for aerospace jobs by location, skill category and company.

Keep employee benefits in mind when establishing defense industry salaries

Fair aerospace salaries are not the only factor to consider when attempting to attract and keep employees. Benefits such as medical and dental insurance, vacation pay, life insurance, flexible hours, casual dress and more are benefits for many workers. Keep all benefits in mind when coming up with salaries for jobs in aerospace.

I recommend: Jenner & Block can assist in creating fair employee benefits and compensation plans for companies in the aerospace and defense industry. Purchase an employee benefits and compensation report from MarketResearch.com to help you determine fair compensation and benefits for aerospace jobs.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you need to hire new employees to fill aerospace engineering jobs, the same job boards you used to research defense employment are a great place to start your search.