I think that the job market is a little bit different for Chemical Engineers. There aren't that many chemical engineers to start off with, and you also start with a higher salary than either mechanical or electrical engineers.
I think that the highest starting salary for chemical engineers that I've seen are those that work as plant managers in manufacturing/industrial plants (e.g. refineries, paper/pulp). These types of jobs are not really suitable for outsourcing. However, you'd be subject tothe fluctuations of the economy. When there isn't that much demand for petroleum products in the economy, refineries shut down; there just isn't that much need for staff & personnel. A lot of full-time personnel in refineries are typically contractors so that the companies who run them can better deal with fluctuations of the economy. When you need additional staff when the economy picks up, you simply ask your contractors to come back.
Biomedical engineering is a booming field. And there will always be a need for chemical engineers, although not necessarily in your desired location. I recommend the chem eng and biomedical eng combination.
Chemical engineers use math and science to develop economical solutions to technical problems. They use scientific discoveries for commercial applications that benefit consumers or society.
Many chemical engineers develop new products. During this process they consider functional requirements, design and test components, produce a final design, and evaluate the final product for effectiveness, cost, safety and reliability.
Along with design and development, working in testing, production or maintenance is common for chemical engineers. They may test product quality, supervise factory production or determine the cause of malfunction. Cost and time must also be estimated for projects. Supervisors oversee entire projects or major components.
Chemical engineers must use computers extensively in their work. They generate specifications for parts, test and simulate operations, monitor quality and control effectiveness. Nanotechnology is also bringing new principles to the design process.
Chemical engineers solve problems involved the use or production of chemicals and other projects by applying the principles of chemistry. For large-scale chemical manufacturing chemical engineers design equipment and processes, plan and test manufacturing methods and supervise production. They may work in a variety of industries beyond chemical manufacturing including those producing paper, clothing, food, electronics and energy. Some chemical engineers work in business services, biotechnology and healthcare. Specialties for chemical engineers often focus on a particular chemical process such as polymerization or oxidation, but they may focus on a field such as nanomaterials or the development of a type of product instead. chemical engineers must understand all aspects of chemical manufacturing including the safety of workers and consumers and the environmental effects.
Most chemical engineers work in labs, offices or factories. However some may work on production sites or travel to plants or worksites here and abroad.
Usually a 40-hour workweek is typical for chemical engineers, though deadlines and design standards may cause added pressure and the need for longer hours on occasion.