Petroleum Engineer Salary

Petroleum Engineers enjoy a hefty income, with average pay passing six figures ($99K) annually in the United States. In the world of Petroleum Engineers, total cash compensation can vary between $66K and $195K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $37K and $29K, respectively. Career length is the main element affecting pay for this group — the company and location are driving factors 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 Petroleum Engineers claim high levels of job satisfaction. The data in this summary comes from the PayScale salary survey.

$62,735 - $168,041
(Median)
$63K
$99K
$170K
MEDIAN: $99,226
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
$62,735 - $168,041  
   
Bonus
$508 - $37,465  
Profit Sharing
$505 - $29,213  
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).
)
$65,691 - $194,601  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,441
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
$508 - $37,465  
   
Commission
$1,350 - $12,800  
Profit Sharing
$505 - $29,213  
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).
)
$65,691 - $194,601  
Country: United States | Currency: USD | Updated: 20 Jun 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


Known for taking on a considerable number of Petroleum Engineers, Chevron Corporation, British Petroleum (BP), Shell Oil Company, Schlumberger, and ConocoPhillips Company are leading firms in the industry. BHP Billiton offers the highest compensation with a median salary of $163K. Petroleum Engineers will also find cushy salaries at Anadarko Petroleum Corp (+$158K), Occidental Petroleum Corporation (+$147K), and Schlumberger (+$138K).

Though certain workers may see earnings of up to $217K, ExxonMobil Corporation still falls short in the compensation department — the median pay is only $103K, the lowest in the field. Other low-paying employers include British Petroleum (BP) at $105K and Baker Hughes Inc at $106K, though some Petroleum Engineers there earn up to $325K.

Popular Skills for Petroleum Engineer


Petroleum Engineers seem to wield many skills on the job. Most notably, skills in Project Management, Well Production Engineering, Reservoir Engineering, and Petroleum Engineering are correlated to pay that is above average, with boosts between 13 percent and 19 percent. Most people who know Reservoir Engineering also know Oil and Gas Formation Evaluation. It is often found that people who know Well Production Engineering are also skilled in Drilling Engineering, Oil and Gas Formation Evaluation, and Engineering Design.

Pay by Experience Level for Petroleum Engineer

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


For many Petroleum Engineers, more experience generally translates to higher pay. At career start (within the first five years), average income sits near $96K, and the average for folks who have worked for five to 10 years is only slightly higher at $120K. The average pay reported by folks with 10 to 20 years of experience is around $151K. Seasoned veterans with 20 years under their belts enjoy a median income of $200K.

Pay Difference by Location


Home to some of the best pay for Petroleum Engineers, Fort Worth offers exceptional salaries, 21 percent above the national average. Petroleum Engineers will also find cushy salaries in Anchorage (+14 percent), Bakersfield (+11 percent), Houston (+9 percent), and Denver (+2 percent). Pittsburgh is the lowest-paying area, 14 percent south of the national average. 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 12%




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 219 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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