I think the cost of professional indemnity for the more tangible branches of engineering really cuts into revenue in a way software production does not.
You need to insure for life of design, in practical terms it means you pay a premium for 7 years for a design delivered today, dropping off in premium/coverage each year as it is viewed the owners ops and maintenance acquire responsibility over time.
It can get expensive when you might consider an event of, say, blocking Pt Hedland harbour at cost of up to ten billion dollars a month.
I am an EE in the West consulting on electrical, controls, safety, integration etc and holding my own for rates vs IT for all but the most extreme IT rates I have seen or heard of, but only just after the recent run - my wife just changed jobs (in IT field) for an extra 100k, I am on the same rate as 12 years ago, but it was an awesome rate 12 years ago...
You need to insure for life of design, in practical terms it means you pay a premium for 7 years for a design delivered today, dropping off in premium/coverage each year as it is viewed the owners ops and maintenance acquire responsibility over time.
It can get expensive when you might consider an event of, say, blocking Pt Hedland harbour at cost of up to ten billion dollars a month.
I am an EE in the West consulting on electrical, controls, safety, integration etc and holding my own for rates vs IT for all but the most extreme IT rates I have seen or heard of, but only just after the recent run - my wife just changed jobs (in IT field) for an extra 100k, I am on the same rate as 12 years ago, but it was an awesome rate 12 years ago...