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Petroleum Engineer Salary with Reservoir Engineering skills

Petroleum Engineers with Reservoir Engineering skills can expect to earn a very comfortable salary, with average salaries (in the ballpark of $118K) surpassing six figures annually. Final cash compensation to Petroleum Engineers with Reservoir Engineering skills varies from around $76K to approximately $212K; choice pay grades include potential for bonuses and profit sharing as high as $41K and $30K, respectively. Career length is the biggest factor affecting pay for this group, followed by the particular city and the specific company. Medical benefits are awarded to almost all, and a large number earn dental coverage. For the most part, Petroleum Engineers with Reservoir Engineering skills enjoy their work and report high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
$72,040 - $180,094
(Median)
72K
88K
100K
130K
180K
MEDIAN: $102,985
10%
25%
50%
75%
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$80K$160K$240K
Salary
$72,040 - $180,094  
   
Bonus
$2,061 - $40,805  
Profit Sharing
$988 - $29,696  
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).
)
$75,559 - $211,632  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 272
United States (change)

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Popular Employer Salaries for Petroleum Engineer with Reservoir Engineering skills


The consistently lowest paying firm is British Petroleum (BP), where the median salary is just $103K. There isn't much variation there, either; the pay scale ranges only from $90K to $157K.

Pay by Experience Level for Petroleum Engineer with Reservoir Engineering skills

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


Petroleum Engineers with Reservoir Engineering skills with a lot of experience tend to enjoy higher earnings. Even the relatively untested can score weighty six-figure salaries; survey participants with less than five years' experience report earning a median of $101K per year. The average pay reported by folks with 10 to 20 years of experience is around $162K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $189K.

Pay Difference by Location


For Petroleum Engineers with Reservoir Engineering skills, working in the bustling city of Dallas has its advantages, including an above-average pay rate. Petroleum Engineers with Reservoir Engineering skills will also find cushy salaries in Bakersfield (+21 percent) and Midland (+6 percent). Compared to the national average, Tulsa Petroleum Engineers with Reservoir Engineering skills have considerably lower salaries, 21 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession.

Experience Affects Petroleum Engineer with Reservoir Engineering skills Salaries

Late-Career
up arrow 60%

Experienced
up arrow 37%

Mid-Career
up arrow 5%

National Average
$118,000


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 50 votes.

Gender

Female
6 %
Male
94 %

Years of Experience

Less than 1 year
17%
1-4 years
31%
5-9 years
23%
10-19 years
17%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 95% dental benefits Dental: 85%
vision benefits Vision: 73% employee benefits None: 4%