With gas prices going through the roof over the past year, you might think the only ones doing well in the petro industry were oil company executives, but oil and gas geologist jobs are also bringing in strong annual salaries, according to a recent report by the Houston Chronicle. The oil biz has been struggling with the problem of older workers and a lack of younger recruits. Since supply is not meeting demand, many oil field jobs are paying more than in previous years.
A recently released study by the University of Houston and the Boyden executive search firm stated that the median salary of a petroleum geologist (with 10 years experience) has increased 23 percent over the past three years, going from $107,500 (2004) to $132,132 (2006). But it's not just the oil and gas geologist jobs; oil drilling rig jobs have hit a gusher, increasing from $36,000 to $58,000 during the same three years. Some oil companies are even paying sign-on bonuses (up to $15,000) to entry-level geologists with master's degrees.
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