Petroleum Engineer Salary

Compensation for Petroleum Engineers in the United States is generous, with average pay surpassing six figures annually ($100K). Cash earnings of Petroleum Engineers can occasionally include $41K each in bonuses and profit sharing proceeds; this strong performance component causes pay grades to stretch from approximately $58K to almost $198K. This group's pay is mainly influenced by the particular firm, followed by career duration and geographic location. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Most workers in this position report high levels of job satisfaction. This report is based on responses to the PayScale salary survey.

$59,252 - $167,268
$59K
$100K
$170K
MEDIAN: $100,295
10%
50%
90%

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$14.45 - $82.74
$14
$45
$83
MEDIAN: $44.83
10%
50%
90%

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$0$198K
Salary $59,252 - $167,268
Bonus $776 - $40,518
Profit Sharing $12.16 - $41,125
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$58,118 - $198,206
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 766
Hourly Data $0$122
Hourly Rate $14.45 - $82.74
Hourly Tips $0.23
Overtime $22.02 - $122.55
Annual Data $0$198K
Bonus $776 - $40,518
Profit Sharing $12.16 - $41,125
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$58,118 - $198,206
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 66

Find Out Exactly What You Should Be Paid

United States (change)

Job Description for Petroleum Engineer

Petroleum engineers design and oversee the production and methods for retrieving oil and natural gas from various depths beneath the earth's surface. Most petroleum engineers work for oil companies. Others work at universities or research facilities.

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Petroleum Engineer Tasks

  • Devise methods to improve oil and gas well production and determine the need for new or modified tool designs.
  • Oversee drilling and offer technical advice to achieve economical and satisfactory progress.

Petroleum Engineer Job Listings

Popular Employer Salaries for Petroleum Engineer


Well-known firms with a reputation for hiring numerous Petroleum Engineers include Chevron Corporation, ConocoPhillips Company, EOG Resources, Inc., Occidental Petroleum Corporation, and BHP Billiton. Petroleum Engineers flock to Anadarko Petroleum Corp for generous paychecks, where average earnings of $185K lead the pack in compensation. Petroleum Engineers will also find cushy salaries at BHP Billiton (+$163K), Occidental Petroleum Corporation (+$147K), and Baker Hughes Inc (+$135K).

ExxonMobil Corporation, Weatherford International, Inc, and British Petroleum (BP) also rank near the bottom for pay, handing out $100K, $108K, and $121K-paychecks on average.

Popular Skills for Petroleum Engineer


Petroleum Engineers seem to wield many skills on the job. Most notably, skills in Project Management, Petroleum Engineering, Simulation, and Engineering Design are correlated to pay that is above average, with boosts between 14 percent and 16 percent. Data Analysis, on the other hand, is typically associated with much lower pay. Most people who know Well Production Engineering also know Drilling Engineering and Oil and Gas Formation Evaluation. For most people, competency in Reservoir Engineering indicates knowledge of Oil and Gas Formation Evaluation and Drilling Engineering.

Pay by Experience Level for Petroleum Engineer

Pay by Experience for a Petroleum Engineer has a positive trend. An entry-level Petroleum Engineer with less than 5 years of experience can expect to earn an average total compensation of $97,000 based on 542 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Petroleum Engineer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $120,000 based on 201 salaries. An experienced Petroleum Engineer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $140,000 based on 131 salaries. A Petroleum Engineer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $177,000 based on 98 salaries.

Pay Difference by Location

National Average: $103,449

Larger city markers indicate a job is popular in that location.

Home to some of the best pay for Petroleum Engineers, Farmington offers exceptional salaries, 29 percent above the national average. Petroleum Engineers will also find cushy salaries in Bakersfield (+25 percent), Denver (+23 percent), Los Angeles (+19 percent), and New Orleans (+17 percent). One of the biggest compensable factors for Petroleum Engineers is geography, with workers in Texas City earning a whopping 23 percent below the national average. Employers also pay below the national average in Fort Worth (9 percent lower) and San Antonio (5 percent lower).

Petroleum Engineer Reviews

Q: What is it like working as a Petroleum Engineer?

Petroleum Engineer in Fort Worth:
"Fort Worth living."
Pros: The town and the people. It has been a great place to live and work.
Cons: The worst part about Fort Worth is how hot it gets in the summer.

Petroleum Engineer in Midland:
"Petroleum Engineering is for the relentless puzzle solver."
Pros: There is always a new obstacle, problem, or puzzle to solve. Success is dependent on team execution, and people skills are just as - or even more - important than technical skills. The industry is fascinating and dynamic, and technological advancement keeps the job fresh and exciting.
Cons: The phone is always ringing. The oilfield doesn't stop for you to sleep. Oil prices dictate employment opportunities, and end a lot of them.

Related Job Salaries

Key Stats for Petroleum Engineer

Gender

Female
9 %
Male
91 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 71 votes.
Less than 1 year
14%
1-4 years
40%
5-9 years
19%
10-19 years
15%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Petroleum Engineer Salaries

▲71%

▲35%

▲16%

National Average
$103,000

▼6%

Skills That Affect Petroleum Engineer Salaries



▲14%

Petroleum Engineering
▲14%







National Average
$103,000



Data Analysis
▼29%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 71 votes.

Gender

Female
9 %
Male
91 %

Years of Experience

Less than 1 year
14%
1-4 years
40%
5-9 years
19%
10-19 years
15%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 72%
vision benefits
Vision: 65%
no benefits
None: 9%
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