I think you have to check it out from IEM. As I know, IEM only recognises specified local public universities' graduate of engineering to be graduate engineer without examination.

It is not necessary to get your IR based on your degree. You can get your IR in different scope even it is not your degree. You just need to do is to find a qualified engineer to guide and to be your seconder. Secondly, is you have to do extra efforts in "charity contribution" to society. The contribution is not counted as once, it's years of experience.

IR is qualified Engineer, he is entitled to approve the engineering projects. Whether earning much or not, yes it could be. Why not, compare to Apple to Apple, IR do give you advantage to you. Normally consulting firms will ask you to be their partners. My sister who is IR holder. She is managing partner in a Engineering consulting firm in Johor, Malaysia.

Good luck to you!