The myth of the millionaire engineer in 1992: how much is true
A fake 1992 engineer's salary has gone viral. The real data: salaries were high, but not that high. A comparison with today.
English · Original discussion in Spanish · Published
Engineers in 1992: neither a fortune nor a total hoax
An image of a job ad offering an exorbitant salary for an engineer in 1992 has been circulating again. The company doesn't exist, but the debate over whether those salaries were real has been revived. Testimonies from those who lived through those years suggest that, without reaching what the photo shows, engineers were paid considerably better than now in relative terms.
How much did people earn in the 90s?
A civil engineer in 1993 earned 300,000 pesetas a month, about 1,800 euros. Around the same time, an electrician in 1989 made 110,000 pesetas, some 660 euros. The gap was significant. In the IT sector, some claim to have earned 96 euros an hour, a figure that is hard to believe but reflects the boom of the era.
The comparison with today: the brain drain
According to a recent analysis, Spain's aerospace industry needs 13,000 technicians. A junior engineer in Spain earns between 22,000 and 32,000 euros a year, while in France the range is 35,000 to 48,000. That means salaries have barely risen in nominal terms since the 90s, while inflation has left purchasing power stagnant or even lower.
Housing prices: the other figure
In 1992, a beachfront house in Peñíscola cost 1 million pesetas, about 6,000 euros. An apartment in Zaragoza, 2 million, 12,000 euros. Today, those prices sound like science fiction. Property values have soared, which explains why many believe the golden age of engineering is behind us.
The photo circulating is a hoax, but the underlying issue is not: engineers in the 90s enjoyed purchasing power that has since been eroded. If the trend continues, the brain drain to Europe will only grow. The question remains whether companies and the public sector can turn it around.
An image of a job ad offering an exorbitant salary for an engineer in 1992 has been circulating again. The company doesn't exist, but the debate over whether those salaries were real has been revived. Testimonies from those who lived through those years suggest that, without reaching what the photo shows, engineers were paid considerably better than now in relative terms.
How much did people earn in the 90s?
A civil engineer in 1993 earned 300,000 pesetas a month, about 1,800 euros. Around the same time, an electrician in 1989 made 110,000 pesetas, some 660 euros. The gap was significant. In the IT sector, some claim to have earned 96 euros an hour, a figure that is hard to believe but reflects the boom of the era.
The comparison with today: the brain drain
According to a recent analysis, Spain's aerospace industry needs 13,000 technicians. A junior engineer in Spain earns between 22,000 and 32,000 euros a year, while in France the range is 35,000 to 48,000. That means salaries have barely risen in nominal terms since the 90s, while inflation has left purchasing power stagnant or even lower.
Housing prices: the other figure
In 1992, a beachfront house in Peñíscola cost 1 million pesetas, about 6,000 euros. An apartment in Zaragoza, 2 million, 12,000 euros. Today, those prices sound like science fiction. Property values have soared, which explains why many believe the golden age of engineering is behind us.
The photo circulating is a hoax, but the underlying issue is not: engineers in the 90s enjoyed purchasing power that has since been eroded. If the trend continues, the brain drain to Europe will only grow. The question remains whether companies and the public sector can turn it around.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (38 replies).
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