Petroleum Engineer Salary

Petroleum Engineers receive generous compensation in the United States — earning an average of $100K per year, their standard salaries shoot well into the six-figure range. In the world of Petroleum Engineers, total cash compensation can vary between $64K and $192K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $38K and $29K, respectively. The most influential factor affecting pay for this group is experience level, though the company and geographic location have a (lesser) impact as well. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to almost all, and a fair number earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$61,502 - $165,453
(Median)
$62K
$100K
$170K
MEDIAN: $99,611
10%
50%
90%

Add this chart to your site: 640px    300px

$16.48 - $98.07
(Median)
$16
$48
$98
MEDIAN: $48.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70K$140K$210K
Salary
$61,502 - $165,453  
   
Bonus
$485.81 - $37,623  
Profit Sharing
$103.65 - $29,205  
Commission
$12,578  
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).
)
$63,873 - $192,042  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,535
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70$140$210
Hourly Rate
$16.48 - $98.07  
   
Hourly Tips
$1.44  
Overtime
$10.05 - $202.73  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$140K$280K$420K
Bonus
$485.81 - $37,623  
   
Commission
$12,578  
Profit Sharing
$103.65 - $29,205  
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).
)
$63,873 - $192,042  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 85
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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.

Read More...

Petroleum Engineer Tasks

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

Petroleum Engineer Job Listings

Search for more jobs:

Popular Employer Salaries for Petroleum Engineer


Known for taking on a considerable number of Petroleum Engineers, Chevron Corporation, British Petroleum (BP), Schlumberger, ExxonMobil Corporation, and Shell Oil Company are leading firms in the industry. For Petroleum Engineers, comfortable salaries can be found at BHP Billiton; in fact, median earnings sit around $163K, the highest in the area. Soaring salaries can also be found at Anadarko Petroleum Corp, Occidental Petroleum Corporation, and Schlumberger, where earnings of $158K, $147K, or $143K are standard for Petroleum Engineers.

Employees of ExxonMobil Corporation can expect to make the least, with the company offering a median salary of $103K; however, pay is widely dispersed from top to bottom, ranging from $76K to $213K. Other low-paying employers include British Petroleum (BP) at $104K and Baker Hughes Inc at $114K, though some Petroleum Engineers there earn up to $325K.

Popular Skills for Petroleum Engineer


Petroleum Engineers seem to wield many skills on the job. Most notably, skills in Project Management, Well Production Engineering, Petroleum Engineering, and Reservoir Engineering are correlated to pay that is above average, with boosts between 13 percent and 19 percent. Skills that seem to negatively impact pay include Microsoft Word. It is often found that people who know Reservoir Engineering are also skilled in Oil and Gas Formation Evaluation. A tool kit that includes Well Production Engineering also typically contains Drilling Engineering, Oil and Gas Formation Evaluation, and Engineering Design.

Pay by Experience Level for Petroleum Engineer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For many Petroleum Engineers, more experience generally translates to higher pay. Whereas the median salary for inexperienced employees is approximately $97K, incomes in the five-to-10 year group are significantly higher, averaging to the comfortable six-figure sum of $123K. The average pay reported by folks with 10 to 20 years of experience is around $151K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $190K.

Pay Difference by Location

National Average: $104,789

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

For Petroleum Engineers, Fort Worth provides a pay rate that is 27 percent greater than the national average. Petroleum Engineers will also find cushy salaries in Anchorage (+16 percent), Bakersfield (+12 percent), Houston (+9 percent), and Dallas (+5 percent). The lowest-paying market is Pittsburgh, which sits 15 percent below the national average. Austin and Tulsa are a couple other places where companies are known to pay below the median — salaries are 9 percent lower and 7 percent lower, respectively.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Petroleum Engineer Salaries




National Average
$105,000


Skills That Affect Petroleum Engineer Salaries



Petroleum Engineering
up arrow 13%





Drilling Engineering
up arrow 3%

National Average
$105,000

Microsoft Excel
up arrow 2%

Microsoft Office
up arrow 2%

Microsoft Word
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 160 votes.

Gender

Female
9 %
Male
91 %

Years of Experience

Less than 1 year
17%
1-4 years
40%
5-9 years
19%
10-19 years
13%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 80%
medical benefits
Vision: 67%
dental benefits
None: 6%
ADVERTISEMENT