I edited the thread title, looking for changes over time in the wage premium.
wage premium (plural wage premiums)
In this case the population as a whole being the typical graduate (roughly equivalent to an academy grad) or an academy grad that goes to work ashore compared to those that choose to go to sea.
How has the wage premium for sea-going changed relative to shoreside over time? It would be expressed as a percentage.
My gut feeling is that the wage premium has decreased significantly.
For engineers, I donāt think there is any wage premium.
My cousin is a shoreside engineer. My annual seagoing salary use to be about double his salary. Now, we earn about the same salary, but he has much much better benefits.
In spite of the recent wage increases, we are still underpaid. Thatās why there is a shortage of mariners available.
There is a shortage of engineers in the US. An engineering graduate from a maritime academy pursuing an ABET course of study resulting in FE certification can make more on shore with better benefits than seagoing engineers. This has always been the case but now even those without FE certification can get decent pay as new graduates. The US has for years imported engineers from other countries. In some cases it was to fill the void due to lazy ass students not capable of the rigor needed to become engineers but in fairness many companies imported engineers because they were cheaper. The tide is turning as there is now an international demand for engineers. Once the coming recession is over the job market will still need people that understand how things are invented, built and maintained. Engineers and doctors in most countries make about the same money depending on their specialty and years of experience.
Hereās some numbers from this site: https://www.collegesimply.com/colleges/maine/maine-maritime-academy/salaries/
Maitime
2022 maine
Marine Transportation (Bachelorās Degree) $81,500
Engineering Technologies/Technicians, Other (Bachelorās Degree) $76,600
Average college grad: from 35+ College Grad Earnings Statistics [2022]: Average Starting Salary Out Of College ā Zippia.
Class of 2022;s average starting salary of $55,260
Averaging Maineās deck and engine gives $77050 which is about 33% wage premium for maritime.
Didnāt do maritime change over time but for the general population grad wages in 2018 were $50,944 which is $60,057 in 2022 which is compared to 2022 rates is a decrease of 8.3%
This is University of Maine: Mechanical Engineering (Bachelorās Degree) new grad rate: $62,200
Maine Maritime Engineering Technology is $76,600
Wage premium 21%
Marine Transportation is 27% higher than Mechanical Engineering.