Most smaller breweries don't have an engineer on the payroll...once the brewery is built, it's pretty much self sufficient. I only work for a small brewpub, but the salaries for even a head brewer at medium sized breweries (depending on experience and location) is only in the range of 40-50k a year tops with varying hours. I sometimes work 30 hours a week, sometimes 60. It all really depends on what's going on and demands you need to meet. A lot of times with those 30 hour weeks, you end up still coming in on your day off to check fermentation temps, and progress on batches.
As far as getting into the career...I've gone to Siebel. But, this isn't neccissary. Look around and volunteer your help at a brewery. Hard work goes a lot farther than schooling, especially if you're willing to learn. You do need some sort of knowledge on the brewing process in order to even be concidered though. Plenty of homebrewing experience was a plus for my situtation.
An engineering degree alone won't get you many offers though. Most people who end up in the brewing field are microbiologists or something similar.