Petroleum Engineer Salary

Salaries for Petroleum Engineers in the United States are generous, with average pay above six figures ($99K) per year. Total cash compensation for Petroleum Engineers runs from $66K to $195K depending on bonuses that can occasionally exceed $38K and profit sharing that can reach almost $29K. Compensation for this group is mainly affected by career duration, but the specific employer and geographic location are influential factors as well. For the most part, Petroleum Engineers enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to nearly all, and most earn dental coverage. The data in this summary comes from the PayScale salary survey.

$62,594 - $168,087
(Median)
$63K
$99K
$170K
MEDIAN: $99,194
10%
50%
90%

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$15.62 - $86.57
(Median)
$16
$41
$87
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
$62,594 - $168,087  
   
Bonus
$507 - $38,205  
Profit Sharing
$507 - $29,161  
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).
)
$65,588 - $195,086  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,440
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
$15.62 - $86.57  
   
Overtime
$10.16 - $114.89  
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
$507 - $38,205  
   
Commission
$1,350 - $12,800  
Profit Sharing
$507 - $29,161  
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).
)
$65,588 - $195,086  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 73
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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


Well-known firms with a reputation for hiring numerous Petroleum Engineers include Chevron Corporation, British Petroleum (BP), Schlumberger, Shell Oil Company, and ConocoPhillips Company. Those at BHP Billiton can expect to make the most, with the company offering a median salary of $163K. Anadarko Petroleum Corp, Occidental Petroleum Corporation, and Schlumberger are a few other companies that offer generous salaries, with Petroleum Engineers earning around $158K, $147K, or $136K at each firm, respectively.

ExxonMobil Corporation offers the least money; the median income there is just $103K. The pay range is also pretty narrow, as compensation generally sits between $78K and $217K. Others at the bottom of the scale for this job include British Petroleum (BP) at $104K, 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


Survey results imply that Petroleum Engineers deploy a substantial tool kit of skills at work. 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 13 percent, respectively. The majority of those who know Reservoir Engineering also know Oil and Gas Formation Evaluation and Drilling Engineering. Most people experienced in Well Production Engineering also know Drilling Engineering and 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. During their first five years in the workforce, individuals in this position earn $96K on average. Survey participants with five to 10 years under their belts see an only a slightly bigger average of $120K. On average, Petroleum Engineers make $151K following one to two decades on the job. Petroleum Engineers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $201K.

Pay Difference by Location


Surpassing the national average by 24 percent, Petroleum Engineers in Fort Worth receive some of the highest pay in the country. Petroleum Engineers can also look forward to large paychecks in cities like Anchorage (+14 percent), Bakersfield (+11 percent), Houston (+9 percent), and Denver (+2 percent). In Pittsburgh, salaries are 14 percent below the national average and represent the lowest-paying market. Not at the bottom but still paying below the median are employers in Los Angeles and Tulsa (12 percent lower and 8 percent lower, respectively).

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Experience Affects Petroleum Engineer Salaries




National Average
$105,000


Skills That Affect Petroleum Engineer Salaries




Petroleum Engineering
up arrow 13%




Drilling Engineering
up arrow 4%

National Average
$105,000

Microsoft Excel
up arrow 1%

Microsoft Office
up arrow 1%

Microsoft Word
up arrow 2%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 217 votes.

Gender

Female
8 %
Male
92 %

Years of Experience

Less than 1 year
17%
1-4 years
38%
5-9 years
20%
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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