Petroleum Engineer Salary

Petroleum Engineers in the United States see excellent average salaries — about $99K annually. Total cash compensation to Petroleum Engineers approaches anywhere from $65K on the lower end to $195K on the higher end; in exceptional cases, this can include more than $38K from bonuses and upwards of $29K from profit sharing. The most influential factor affecting pay for this group is career length, though the specific employer and geography have a (lesser) impact as well. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to the larger part. Most Petroleum Engineers like their work and job satisfaction is high. The numbers in this rundown were provided by PayScale's salary survey participants.

$62,325 - $167,966

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$16.48 - $86.16

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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
$62,325 - $167,966  
   
Bonus
$498.67 - $38,202  
Profit Sharing
$502 - $29,050  
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).
)
$65,288 - $194,610  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 1,447
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
$16.48 - $86.16  
   
Overtime
$10.16 - $114.89  
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
$498.67 - $38,202  
   
Commission
$1,350 - $12,800  
Profit Sharing
$502 - $29,050  
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).
)
$65,288 - $194,610  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 75
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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


Chevron Corporation, British Petroleum (BP), Schlumberger, Shell Oil Company, and ConocoPhillips Company are top-notch employers for Petroleum Engineers in this area. BHP Billiton offers the largest salaries in town — $163K on average. Other big spenders include Occidental Petroleum Corporation, Anadarko Petroleum Corp, and Schlumberger, top-paying firms where Petroleum Engineers see paychecks nearing $147K, $142K, or $136K.

Though lagging the field in terms of compensation — ExxonMobil Corporation offers the lowest median salary at $103K — pay within the company still varies considerably 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 respondents exploit a significant toolbox of skills in their work. Most notably, skills in Project Management, Well Production Engineering, Petroleum Engineering, and Reservoir Engineering are correlated to pay that is above average, with boosts between 13 percent and 20 percent. Most people skilled in Reservoir Engineering are similarly competent in Oil and Gas Formation Evaluation. People who know Well Production Engineering usually also know 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.


Petroleum Engineers with a lot of experience tend to enjoy higher earnings. The relatively untested earn a median of $96K per year, but survey respondents who have racked up five to 10 years of experience report a six-figure median of $120K. On average, Petroleum Engineers make $151K following one to two decades on the job. Seasoned veterans with 20 years under their belts enjoy a median income of $199K.

Pay Difference by Location


Petroleum Engineers will find that Fort Worth offers an impressive pay rate, one which exceeds the national average by 26 percent. Petroleum Engineers can also look forward to large paychecks in cities like Anchorage (+16 percent), Bakersfield (+12 percent), Houston (+9 percent), and Denver (+2 percent). Falling short of the national average by 14 percent, the area with the worst salaries is Pittsburgh. A couple other locations with smaller-than-average paychecks include Los Angeles (12 percent lower) and Tulsa (8 percent lower).

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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 213 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: 67% employee benefits None: 5%
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