Petroleum Engineer Salary

Wages for Petroleum Engineers in the United States are generous, with average pay above six figures ($100K) per year. Cash earnings for Petroleum Engineers — which occasionally include more than $41K from bonuses and more than $31K from profit sharing — stretch from around $59K to approximately $193K. This group's pay is mainly influenced by the company, followed by experience level and geography. For the most part, Petroleum Engineers enjoy their work and report high levels of job satisfaction. Men make up the vast majority of Petroleum Engineers (89 percent) who took the survey. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. This report is based on responses to the PayScale salary survey.

$59,241 - $162,681
$59K
$100K
$160K
MEDIAN: $100,060
10%
50%
90%

Add this chart to your site: 640px    300px

$14.65 - $85.85
$15
$49
$86
MEDIAN: $49.25
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
$59,241 - $162,681  
   
Bonus
$506 - $40,547  
Profit Sharing
$4.86 - $31,198  
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).
)
$58,681 - $193,106  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 751
© PayScale, Inc. @ www.payscale.com
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$50$100$150
Hourly Rate
$14.65 - $85.85  
   
Hourly Tips
$0.23  
Overtime
$14.85 - $147.95  
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$100K$200K$300K
Bonus
$506 - $40,547  
   
Profit Sharing
$4.86 - $31,198  
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).
)
$58,681 - $193,106  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 71
© PayScale, Inc. @ www.payscale.com

Find Out Exactly What You Should Be Paid

United States (change)

Employers: 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

  • 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

Search for more jobs:

Popular Employer Salaries for Petroleum Engineer


Petroleum Engineers flock to Chevron Corporation, ConocoPhillips Company, EOG Resources, Inc., Occidental Petroleum Corporation, and BHP Billiton, highly regarded companies that employ a generous number of people in this profession. Anadarko Petroleum Corp leads the field in terms of pay, with a median salary of $185K. Those in search of high salaries should also consider BHP Billiton, Occidental Petroleum Corporation, and Baker Hughes Inc, top-paying firms where Petroleum Engineers rake in a very impressive $163K, $147K, or $135K, respectively.

Also approaching the lower end are ExxonMobil Corporation at $100K, Weatherford International, Inc at $108K, and British Petroleum (BP) at $121K.

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, Petroleum Engineering, Simulation, and Engineering Design are correlated to pay that is above average, with boosts between 14 percent and 17 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Most people who know Well Production Engineering also know Drilling Engineering and Oil and Gas Formation Evaluation. Those proficient in Reservoir Engineering are, more often than not, also skilled in 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.


Petroleum Engineers who reported more years of relevant experience also reported higher earnings. Although inexperienced employees take home approximately $97K, those who have five to 10 years under their belts benefit from a six-figure median of $120K. People with 10 to 20 years of experience make an average of about $140K in this role. Old hands who claim more than two decades on the job enjoy average earnings of $177K.

Pay Difference by Location

National Average: $103,001

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

For Petroleum Engineers, busy Farmington offers a higher-than-average pay rate, 30 percent above the national average. Petroleum Engineers can also look forward to large paychecks in cities like Bakersfield (+26 percent), Denver (+23 percent), Los Angeles (+19 percent), and New Orleans (+17 percent). The lowest-paying market is Texas City, which sits 22 percent below the national average, proving that location is a significant contributor to overall pay. Employers in Fort Worth and San Antonio also lean toward paying below-median salaries (8 percent lower and 5 percent lower, respectively).

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
11 %
Male
89 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 56 votes.
Less than 1 year
15%
1-4 years
41%
5-9 years
19%
10-19 years
13%
20 years or more
12%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Petroleum Engineer Salaries

▲72%

▲36%

▲17%

National Average
$103,000

▼6%

Skills That Affect Petroleum Engineer Salaries


Petroleum Engineering
▲15%


▲14%







National Average
$103,000



Data Analysis
▼28%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 56 votes.

Gender

Female
11 %
Male
89 %

Years of Experience

Less than 1 year
15%
1-4 years
41%
5-9 years
19%
10-19 years
13%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 71%
vision benefits
Vision: 63%
dental benefits
None: 10%
ADVERTISEMENT