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56% of engineers are over age 55, and could likely retire tomorrow if they chose. The recent stock boom has made our 401k plans very healthy and lots of folks are retiring a bit early.
Heck, from this survey, 70% are over age 50! This is becoming a serious problem. The upside, though, is that retirees can make a boatload of money with a little part-time consulting if they like.
In the days before H1B, engineering used to be a good professional field. But these days, not so much and the kiddies in college know it. H1B and other factors have kept engineering salaries low, so the smart ones go for other things like IT and programming. Why go through tough engineering school when the BA business guy will be kicking your arse salary wise 10 years down the road?