Engineers are less valued in the UK than in the US (even more extreme value placed on MBAs from what I've seen). From the impression I get, France and Germany hold engineers in the same esteem as the US.

Myself and most of my engineering friends are treated pretty darn well. Most of us are in the semiconductor or biomedical industry which probably makes a difference. In low or negative growth industries like aerospace the picture is different.

you are the media you consume.