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Petroleum Engineer Salary

Average pay for Petroleum Engineers in the United States is more than reasonable, with annual salaries pushing past the six-figure mark ($107K). Overall cash earnings for Petroleum Engineers stretch from $66K on the lower end to $192K near the top, and the heftiest packages can encompass around $35K from bonuses and $28K from profit sharing. The most influential factor affecting pay for this group is career duration, though the company and geography have a (lesser) impact as well. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to the larger part. The majority of workers are highly satisfied with their job. The information for this snapshot was generated by responses to the PayScale salary survey.
$62,424 - $165,329
(Median)
62K
81K
99K
120K
170K
MEDIAN: $99,349
10%
25%
50%
75%
90%

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$15.13 - $98.26
(Median)
15
25
40
60
98
MEDIAN: $39.00
10%
25%
50%
75%
90%

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Show Annual Salary Show Hourly Rate

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
$62,424 - $165,329  
   
Bonus
$995 - $34,983  
Profit Sharing
$979 - $28,383  
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).
)
$65,771 - $192,070  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,462
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
$15.13 - $98.26  
   
Overtime
$9.93 - $146.81  
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
$995 - $34,983  
   
Profit Sharing
$979 - $28,383  
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).
)
$65,771 - $192,070  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 59
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

  • 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, Schlumberger, and ConocoPhillips Company are some prominent firms with considerable interest in employing a large team of Petroleum Engineers. BHP Billiton leads the field in terms of pay, with a median salary of $159K. Other employers shelling out big bucks include Occidental Petroleum Corporation, Schlumberger, and Anadarko Petroleum Corp, where Petroleum Engineers typically earn around $147K, $135K, or $130K, respectively.

With a median salary of only $103K, Baker Hughes Inc pays the least. It seems that the compensation range of $75K to $328K isn't that wide, either. Other low-paying employers include British Petroleum (BP) at $105K and ExxonMobil Corporation at $111K, though some Petroleum Engineers there earn up to $239K.

Popular Skills for Petroleum Engineer


Survey takers working as Petroleum Engineers report using a large range of professional skills. 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, 16 percent, and 10 percent, respectively. At the other end of the pay range are skills like Microsoft Word and Microsoft Excel. Skill sets containing Well Production Engineering also tend to include Drilling Engineering and Oil and Gas Formation Evaluation. The majority of those who know Reservoir Engineering also 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.


Petroleum Engineers with a rich background of experience are typically rewarded with larger paychecks. Survey participants with less than five years' experience report a median income of $96K, and earnings aren't much higher for respondents who have five to 10 years under their belts; respondents in the latter group report a median of just $119K. For Petroleum Engineers, 10 to 20 years of experience on the job amounts to an average salary of $150K. Average wages for folks with more than 20 years of experience come out to around $199K.

Pay Difference by Location


Petroleum Engineers will find that Fort Worth offers an impressive pay rate, one which exceeds the national average by 25 percent. Petroleum Engineers will also find cushy salaries in San Antonio (+13 percent), Anchorage (+8 percent), Houston (+7 percent), and Bakersfield (+7 percent). Trailing the national average by 14 percent, Pittsburgh is the market with the smallest paychecks. Employers also pay below the national average in Austin (10 percent lower) and Tulsa (9 percent lower).

Related Job Salaries

Experience Affects Petroleum Engineer Salaries




National Average
$107,000


Skills That Affect Petroleum Engineer Salaries




Petroleum Engineering
up arrow 10%


Drilling Engineering
up arrow 4%

Oil and Gas Formation Evaluation
up arrow 4%

Simulation
up arrow 3%

National Average
$107,000

Microsoft Office
up arrow 2%

Microsoft Excel
up arrow 3%

Microsoft Word
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 302 votes.

Gender

Female
9 %
Male
91 %

Years of Experience

Less than 1 year
16%
1-4 years
37%
5-9 years
22%
10-19 years
14%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 81%
vision benefits Vision: 67% employee benefits None: 5%