I have been at Intel for 14 years working as an engineer. I like to think I make "good money" but I suppose that depends on what your definition of "good money" is. And I can't give details about it because it is against corporate policy to discuss salary - and I've made no secret of who I am.
At Intel there's seem to be four or five paths for engineers over the very long term.
1. you can essentially be a grunt-for-life. This really isn't that bad an option - move around a bit and you can do different jobs and keep things interesting. You won't make the big bucks, but you also won't have to work crazy hours, travel a lot, or be stressed out owning risky assignments. The life of a grunt isn't high-flying, but it's also not particularly stressful. And it's not like you need to be stuck doing the exact same thing forever.
2. you can become a guru at something important but arcane. This requires a bit of luck in terms of taking on the right assigment, and a bit of political skill to hold onto this assignment over a long period. Depending on what it is, you will have the opportunity to play a large role in the company or the industry. Say you are a guru at SerDes circuitry, or long-term reliability, or high-speed cache evaluation circuitry, or any number of other things that the average engineer only has a passing knowledge of. So this differs from being a grunt because you'll be the go-to guy for this kind of stuff and if you are motivated and smart enough, you can get involved in IEEE standards and other things. The downside is you will get pidgeonholed into a role which makes it hard to move around and try different things. If you are the company's only expert on a subject you don't need great social skills... but it helps a lot.
3. you can become an expert at "firefighting". There's a certain small number of engineers who thrive under pressure, are brilliant, and love to solve problems by flying all over the place fixing things. Say some big customer's mainframe dies big time, you fly in, work crazy hours, and figure out what happened and fix it. This requires a certain type of person - not necessarily someone who communicates really well, but there's a certain type of person who thrives when everyone else is panicking and is great at troubleshooting.
4. you can become a "lead engineer" or some other form of engineer who leads a larger group of engineers... without actually having to manage the people involved. So you tell everyone what to do, and more or less how to do it, but don't have to deal with figuring out why they didn't show up to work last week for two days, or why they need a leave-of-absence, or . This requires social skills, communication skills, leadership skills and a bit of an outgoing personality - or at least the ability to fake an outgoing personality.
5. you can go the management route, or the project management route. Be an engineer for a while, switch to management. I see lots of engineers do this. If you are politically and socially adept, intelligent, willing to go back and get an MBA, you can go far.
I'm probably a mix of 2. and 4. I've got my area of expertise (high-volume structural test tehcniques), and I lead a larger group of engineers doing it.
I like my job. I enjoy what I do. I'm paid well - (I have a big house which is paid off, two cars, travel internationally on vacation every year and a decent nest-egg). I can't imagine being anything other than an engineer.
I'm not sure that this answers the original poster's question. I would say that anyone of the first four in my list constitutes a "good engineer" - including #1.