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Petroleum Engineer Salary

Petroleum Engineers receive generous compensation in the United States — earning an average of $99K per year, their standard salaries shoot well into the six-figure range. In the world of Petroleum Engineers, overall income ranges from $66K near the bottom to $194K at the top; this can include more than $38K from bonuses and more than $29K from profit sharing in exceptional cases. Earnings for this group are mostly affected by career duration, followed by the specific employer and geography. Most Petroleum Engineers report high levels of job satisfaction. Medical benefits are awarded to nearly all, and most earn dental coverage. This report is based on answers to PayScale's salary questionnaire.

$62,455 - $167,432
(Median)
$62K
$99K
$170K
MEDIAN: $99,313
10%
50%
90%

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$15.46 - $98.26
(Median)
$15
$41
$98
MEDIAN: $40
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$70K$140K$210K
Salary
$62,455 - $167,432  
   
Bonus
$514 - $38,014  
Profit Sharing
$650 - $29,107  
Commission
$1,350 - $12,800  
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).
)
$65,636 - $194,088  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 1,445
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50$100$150
Hourly Rate
$15.46 - $98.26  
   
Overtime
$10.14 - $115.92  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$100K$200K$300K
Bonus
$514 - $38,014  
   
Commission
$1,350 - $12,800  
Profit Sharing
$650 - $29,107  
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).
)
$65,636 - $194,088  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 69

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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

  • 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

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Popular Employer Salaries for Petroleum Engineer


Chevron Corporation, British Petroleum (BP), Shell Oil Company, ConocoPhillips Company, and Schlumberger are all popular places to work. Heading up the field in terms of compensation, BHP Billiton offers the most; Petroleum Engineers earn $159K on average there. Soaring salaries can also be found at Occidental Petroleum Corporation, Anadarko Petroleum Corp, and Schlumberger, where earnings of $147K, $142K, or $138K are standard for Petroleum Engineers.

British Petroleum (BP) offers the least money; the median income there is just $105K. The pay range is also pretty narrow, as compensation generally sits between $66K and $182K. Others at the bottom of the scale for this job include ExxonMobil Corporation at $106K, and Baker Hughes Inc where $106K is the norm, but it is worth noting that some Petroleum Engineers there earn up to $325K.

Popular Skills for Petroleum Engineer


Petroleum Engineers seem to exploit a large range of skills on the job. Most notably, facility with Project Management, Well Production Engineering, and Petroleum Engineering are correlated to pay that is significantly above average, leading to increases of 20 percent, 17 percent, and 12 percent, respectively. Most people who know Well Production Engineering also know Drilling Engineering, Oil and Gas Formation Evaluation, and Engineering Design. Most people familiar with Reservoir Engineering also know Oil and Gas Formation Evaluation.

Pay by Experience Level for Petroleum Engineer

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


Experience seems to be a major factor in determining the incomes of Petroleum Engineers. Petroleum Engineers in the early stages of their careers take home approximately $96K on average. The average for people in the five-to-10 year group is only a little larger at $120K. People with 10 to 20 years of experience make an average of about $152K in this role. Seasoned veterans with 20 years under their belts enjoy a median income of $202K.

Pay Difference by Location


For Petroleum Engineers, busy Fort Worth offers a higher-than-average pay rate, 21 percent above the national average. Petroleum Engineers can also look forward to large paychecks in cities like Anchorage (+12 percent), Denver (+9 percent), Bakersfield (+9 percent), and Houston (+8 percent). Trailing the national average by 16 percent, Pittsburgh is the market with the smallest paychecks. Employers in Los Angeles and Tulsa also lean toward paying below-median salaries (13 percent lower and 9 percent lower, respectively).

Related Job Salaries

United States (change)

Experience Affects Petroleum Engineer Salaries




National Average
$106,000


Skills That Affect Petroleum Engineer Salaries




Petroleum Engineering
up arrow 12%



Simulation
up arrow 4%

Drilling Engineering
up arrow 3%

Microsoft Office
0%

National Average
$106,000

Microsoft Excel
up arrow 2%

Microsoft Word
up arrow 3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 246 votes.

Gender

Female
8 %
Male
92 %

Years of Experience

Less than 1 year
17%
1-4 years
38%
5-9 years
21%
10-19 years
13%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 80%
vision benefits Vision: 66% employee benefits None: 5%
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