Yes, many companies will pay more than others. The basic starting salaries for a mechanical engineer are around $50,000 more or less with obvious benefits from added experience. Someone with a masters degree can expect to start making about $10,000 more. Someone could make well over 6 figures with some experience and depending on the field this could happen within the first 10 years. However, the typical mechanical engineer is has a very broad knowledge of everything, but not a specific knowledge of one item without experience. So, basically if you change jobs that don't involve the same field (such as oil expert moving to a CAD modelling) expect to be making entry-level pay. Hope that helped.