Most old engineering companies in Europe are facing a ‘Papy Boom’ (ie people massively hired in the sixties are now retiring and need to be replaced) while too few people study engineering, IT and sciences. Not only these people need to be replaced, if the companies in which they are working want to keep on going, but they need to train their successors, too. They need to pass on the way of working and the company mentality.
There is good econometric evidence that the demand for graduate engineers exceeds supply and the demand is pervasive across all sectors of the economy. The implication of this is that the economy needs more graduate engineers for both engineering and non engineering jobs. The evidence can be seen in a persistent, sizable wage premium for people holding engineering degrees and this premium has grown over the last 20 years.
Large engineering companies (ie PHILIPS (click for available jobs), SIEMENS) and gradually growing engineering companies (ie ASML (click for available jobs)) are in need of skilled engineers.
