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 ($101K). Total cash compensation to Petroleum Engineers bottoms out near $59K and approaches $193K on the high end; the biggest paychecks include approximately $40K from bonuses and almost $32K from profit sharing. The specific employer is the main element affecting pay for this group — experience level and location are driving factors as well. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to most, and a strong majority earn dental coverage. The data in this summary comes from the PayScale salary survey.

$59,735 - $163,509
$60K
$100K
$160K
MEDIAN: $100,817
10%
50%
90%

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$14.54 - $86.66
$15
$49
$87
MEDIAN: $48.67
10%
50%
90%

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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
$59,735 - $163,509  
   
Bonus
$875 - $40,000  
Profit Sharing
$11.74 - $32,062  
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).
)
$58,978 - $192,928  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 803
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$60$120$180
Hourly Rate
$14.54 - $86.66  
   
Hourly Tips
$0.23  
Overtime
$22.19 - $152.05  
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$120K$240K$360K
Bonus
$875 - $40,000  
   
Profit Sharing
$11.74 - $32,062  
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).
)
$58,978 - $192,928  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 68

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Devise methods to improve oil and gas well production and determine the need for new or modified tool designs.
  • Oversee drilling and offer technical advice to achieve economical and satisfactory progress.

Petroleum Engineer Job Listings

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Popular Employer Salaries for Petroleum Engineer


Dominating the field, Chevron Corporation, ConocoPhillips Company, EOG Resources, Inc., Occidental Petroleum Corporation, and BHP Billiton are top firms with a reputation for hiring a great number of Petroleum Engineers. Anadarko Petroleum Corp leads the field in terms of pay, with a median salary of $185K. Petroleum Engineers will also find cushy salaries at BHP Billiton (+$163K), Occidental Petroleum Corporation (+$147K), and Baker Hughes Inc (+$135K).

Workers at ExxonMobil Corporation, Weatherford International, Inc, and British Petroleum (BP) also face smaller salaries than the rest of the field — average earnings for these employers come to $100K, $108K, and $121K respectively.

Popular Skills for Petroleum Engineer


Survey results imply that Petroleum Engineers deploy a deep pool of skills on the job. Most notably, skills in Project Management, Petroleum Engineering, Simulation, and Engineering Design are correlated to pay that is above average, with boosts between 13 percent and 16 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Most people skilled in Well Production Engineering are similarly competent in Drilling Engineering and Oil and Gas Formation Evaluation. It is often found that people who know Reservoir Engineering are also skilled in Oil and Gas Formation Evaluation and Drilling Engineering.

Pay by Experience Level for Petroleum Engineer

Pay by Experience for a Petroleum Engineer has a positive trend. An entry-level Petroleum Engineer with less than 5 years of experience can expect to earn an average total compensation of $97,000 based on 542 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Petroleum Engineer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $120,000 based on 201 salaries. An experienced Petroleum Engineer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $140,000 based on 131 salaries. A Petroleum Engineer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $177,000 based on 98 salaries.

Pay Difference by Location

National Average: $104,118

Larger city markers indicate a job is popular in that location.

With a pay rate for Petroleum Engineers that is 28 percent greater than the national average, Farmington offers a comfortable salary for those in this profession. Petroleum Engineers can also look forward to large paychecks in cities like Bakersfield (+24 percent), Denver (+22 percent), Los Angeles (+18 percent), and New Orleans (+16 percent). Petroleum Engineers in Texas City make 23 percent less than the national average, proving that location is a major factor in pay. Two other places where employers offer below-median salaries are Fort Worth (9 percent less) and San Antonio (6 percent less).

Petroleum Engineer Reviews

Q: What is it like working as a Petroleum Engineer?

Petroleum Engineer in Fort Worth:
"Fort Worth living."
Pros: The town and the people. It has been a great place to live and work.
Cons: The worst part about Fort Worth is how hot it gets in the summer.

Petroleum Engineer in Midland:
"Petroleum Engineering is for the relentless puzzle solver."
Pros: There is always a new obstacle, problem, or puzzle to solve. Success is dependent on team execution, and people skills are just as - or even more - important than technical skills. The industry is fascinating and dynamic, and technological advancement keeps the job fresh and exciting.
Cons: The phone is always ringing. The oilfield doesn't stop for you to sleep. Oil prices dictate employment opportunities, and end a lot of them.

Related Job Salaries

Key Stats for Petroleum Engineer

Gender

Female
10 %
Male
90 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 63 votes.
Less than 1 year
14%
1-4 years
39%
5-9 years
20%
10-19 years
14%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Petroleum Engineer Salaries

▲70%

▲34%

▲15%

National Average
$104,000

▼7%

Skills That Affect Petroleum Engineer Salaries



▲13%

Petroleum Engineering
▲13%







National Average
$104,000



Data Analysis
▼29%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 63 votes.

Gender

Female
10 %
Male
90 %

Years of Experience

Less than 1 year
14%
1-4 years
39%
5-9 years
20%
10-19 years
14%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 73%
vision benefits
Vision: 64%
no benefits
None: 9%
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