The average pay for a Petroleum Engineer is $48.23 per hour.
The average pay for a Petroleum Engineer is $101,066 per year.
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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.
Read More...- 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.
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Popular Skills for Petroleum Engineer
Petroleum Engineers seem to wield many 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 14 percent and 16 percent. Data Analysis, on the other hand, is typically associated with much lower pay. Most people who know Well Production Engineering also know Drilling Engineering and Oil and Gas Formation Evaluation. For most people, competency in Reservoir Engineering indicates knowledge of 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
Home to some of the best pay for Petroleum Engineers, Farmington offers exceptional salaries, 29 percent above the national average. Petroleum Engineers will also find cushy salaries in Bakersfield (+25 percent), Denver (+23 percent), Los Angeles (+19 percent), and New Orleans (+17 percent). One of the biggest compensable factors for Petroleum Engineers is geography, with workers in Texas City earning a whopping 23 percent below the national average. Employers also pay below the national average in Fort Worth (9 percent lower) and San Antonio (5 percent lower).
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Key Stats for Petroleum Engineer
Gender
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Female
11 % |
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Male
89 % |
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Job Satisfaction
| Highly satisfied |
Rated 4 out of 5 based on 138 votes. |
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