Petroleum Engineer Salary

Salaries for Petroleum Engineers in the United States are generous, with average pay above six figures ($100K) per year. Final cash compensation to Petroleum Engineers varies from around $59K to approximately $192K; choice pay grades include potential for bonuses and profit sharing as high as $40K and $30K, respectively. Experience level is the biggest factor affecting pay for this group, followed by the specific employer and location. For the most part, Petroleum Engineers enjoy their work and report high levels of job satisfaction. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$59,132 - $161,837
$59K
$100K
$160K
MEDIAN: $99,902
10%
50%
90%

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$14.79 - $88.09
$15
$50
$88
MEDIAN: $49.60
10%
50%
90%

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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
$59,132 - $161,837  
   
Bonus
$953 - $39,962  
Profit Sharing
$11.92 - $30,308  
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).
)
$58,902 - $192,335  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 799
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$80$160$240
Hourly Rate
$14.79 - $88.09  
   
Hourly Tips
$1.56  
Overtime
$14.85 - $221.92  
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$160K$320K$480K
Bonus
$953 - $39,962  
   
Commission
$12,578  
Profit Sharing
$11.92 - $30,308  
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).
)
$58,902 - $192,335  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 73

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • 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

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Popular Employer Salaries for Petroleum Engineer


Chevron Corporation, ConocoPhillips Company, EOG Resources, Inc., Halliburton Energy Services, and Occidental Petroleum Corporation are among the top companies that take on many Petroleum Engineers. The biggest paychecks can be found at Anadarko Petroleum Corp — the median salary there is $181K. Petroleum Engineers can also look forward to large paychecks at BHP Billiton ($163K), Occidental Petroleum Corporation ($147K), and Schlumberger ($145K).

Others at the bottom of the scale for this job include ExxonMobil Corporation at $109K, and Halliburton Energy Services where $121K is the norm, but it is worth noting that some Petroleum Engineers there earn up to $171K.

Popular Skills for Petroleum Engineer


Survey results imply that Petroleum Engineers deploy a substantial tool kit of skills at work. Most notably, skills in Project Management, Simulation, Petroleum Engineering, and Well Production Engineering are correlated to pay that is above average, with boosts between 15 percent and 17 percent. Data Analysis and Microsoft Word, on the other hand, are typically associated with much lower pay. The majority of those who know Well Production Engineering also know Drilling Engineering and Oil and Gas Formation Evaluation. Those familiar with Reservoir Engineering also tend to know Oil and Gas Formation Evaluation and Drilling Engineering.

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. 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 $122K. On average, Petroleum Engineers make $141K following one to two decades on the job. Seasoned veterans with 20 years under their belts enjoy a median income of $177K.

Pay Difference by Location

National Average: $102,853

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

For those looking to make money, Petroleum Engineers in New Orleans enjoy an exceptional pay rate, 30 percent above the national average. Petroleum Engineers can also look forward to large paychecks in cities like Farmington (+30 percent), Bakersfield (+26 percent), Denver (+25 percent), and Los Angeles (+22 percent). Petroleum Engineers in San Antonio make 29 percent less than the national average, proving that location is a major factor in pay. Employers pay around 22 percent less in Texas City and 8 percent less in Fort Worth, below-median salaries for those in this field.

Petroleum Engineer Reviews

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

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
10 %
Male
90 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 52 votes.
Less than 1 year
15%
1-4 years
42%
5-9 years
19%
10-19 years
13%
20 years or more
11%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Petroleum Engineer Salaries

▲72%

▲37%

▲19%

National Average
$103,000

▼6%

Skills That Affect Petroleum Engineer Salaries


▲16%

Petroleum Engineering
▲15%








National Average
$103,000



Data Analysis
▼29%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 52 votes.

Gender

Female
10 %
Male
90 %

Years of Experience

Less than 1 year
15%
1-4 years
42%
5-9 years
19%
10-19 years
13%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 71%
vision benefits
Vision: 62%
dental benefits
None: 10%
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