Petroleum Engineers with Reservoir Engineering skills can expect to earn a very comfortable salary, with average salaries (in the ballpark of $103K) surpassing six figures annually. Total incomes of Petroleum Engineers with Reservoir Engineering skills incorporate potential for, in a few cases, more than $38K from bonuses and close to $76K from profit sharing; these performance components cause packages to range between $66K and $216K. The most important factor affecting compensation for this group is experience level, followed by the particular city and the specific company. Most Petroleum Engineers with Reservoir Engineering skills are fairly content with their jobs, and work satisfaction falls in line with the national average. Medical benefits are awarded to a large number, and a majority earn dental coverage. This overview is based on answers to PayScale's salary questionnaire.

$63,825 - $175,290
(Median)
$64K
$100K
$180K
MEDIAN: $103,005
10%
50%
90%

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$29.00 - $82.96
(Median)
$
$49
$
MEDIAN: $48.00
50%

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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$80K$160K$240K
Salary
$63,825 - $175,290  
   
Bonus
$966 - $38,099  
Profit Sharing
$1,946 - $75,503  
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).
)
$65,996 - $216,448  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 158
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
$48.67  
   
Overtime
$30.00  
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
$966 - $38,099  
   
Profit Sharing
$1,946 - $75,503  
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).
)
$65,996 - $216,448  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 9
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Bringing up the rear, British Petroleum (BP)'s median pay of $105K is the lowest in town; however, employee salaries widely range, with some making up to $163K.

Pay by Experience Level for Petroleum Engineer

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


Experience is an important factor influencing the compensation of Petroleum Engineers with Reservoir Engineering skills. Individuals with less than five years' experience take home around $100K. In contrast, though, people who have been on the job for five to 10 years report a six-figure median of $122K. Petroleum Engineers with Reservoir Engineering skills claiming one to two decades of experience make an estimated median of $163K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $199K.

Pay Difference by Location

National Average: $114,747

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

Dallas is home to an above-average pay rate for Petroleum Engineers with Reservoir Engineering skills, 25 percent higher than the national average. Petroleum Engineers with Reservoir Engineering skills will also find cushy salaries in Bakersfield (+24 percent), Houston (+21 percent), Denver (+12 percent), and Midland (+9 percent). Falling short of the national average by 19 percent, the area with the worst salaries is Tulsa.

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Experience Affects Petroleum Engineer Salaries

Late-Career
up arrow 73%

Experienced
up arrow 42%

Mid-Career
up arrow 7%

National Average
$115,000

Entry-Level
up arrow 13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 14 votes.

Gender

Female
11 %
Male
89 %

Years of Experience

Less than 1 year
13%
1-4 years
41%
5-9 years
16%
10-19 years
14%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 66%
medical benefits
Vision: 58%
dental benefits
None: 11%
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