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Petroleum Engineer Salary

Salaries for Petroleum Engineers in the United States are generous, with average pay above six figures ($99K) per year. With some bonuses approaching $37K and certain profit sharing proceeds approaching $29K, overall incomes of Petroleum Engineers spread between $66K and $195K depending on individual performance. This group's pay is mainly influenced by experience level, followed by the company and geography. Most workers in this position report high levels of job satisfaction. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.

$62,672 - $167,951
(Median)
$63K
$99K
$170K
MEDIAN: $99,343
10%
50%
90%

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$15.57 - $86.78
(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
$62,672 - $167,951  
   
Bonus
$521 - $37,500  
Profit Sharing
$513 - $29,264  
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).
)
$65,962 - $194,836  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,453
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
$15.57 - $86.78  
   
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
$521 - $37,500  
   
Commission
$1,350 - $12,800  
Profit Sharing
$513 - $29,264  
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).
)
$65,962 - $194,836  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 72
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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


Leading companies who hire large numbers of Petroleum Engineers include Chevron Corporation, British Petroleum (BP), Shell Oil Company, ConocoPhillips Company, and Schlumberger. Petroleum Engineers seeking a sizable paycheck can earn the most at BHP Billiton, where the average salary comes to $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 $138K at each firm, respectively.

The smallest paychecks can be found at British Petroleum (BP) — the median salary there is $105K; however, employees are subject to a wide range in pay, with salaries varying between $66K and $182K. Other low-paying employers include ExxonMobil Corporation at $106K and Baker Hughes Inc at $106K, though 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, facility with Project Management, Well Production Engineering, and Reservoir Engineering are correlated to pay that is significantly above average, leading to increases of 21 percent, 17 percent, and 12 percent, respectively. Those proficient in Reservoir Engineering are, more often than not, also skilled in Oil and Gas Formation Evaluation and Drilling Engineering. Most people who know 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.


Petroleum Engineers generally obtain higher compensation for more plentiful past experience. 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. Petroleum Engineers with one to two decades of relevant experience report an average salary of approximately $152K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $201K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Pay Difference by Location


With a pay rate for Petroleum Engineers that is 21 percent greater than the national average, Fort Worth offers a comfortable salary for those in this profession. Petroleum Engineers will also find cushy salaries in Anchorage (+13 percent), Houston (+9 percent), Bakersfield (+9 percent), and Denver (+8 percent). Those in the field find the lowest salaries in Pittsburgh, 16 percent below the national average. Employers in Los Angeles and Austin also lean toward paying below-median salaries (12 percent lower and 8 percent lower, respectively).

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Experience Affects Petroleum Engineer Salaries




National Average
$106,000


Skills That Affect Petroleum Engineer Salaries




Petroleum Engineering
up arrow 12%




Drilling Engineering
up arrow 4%

National Average
$106,000

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 236 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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