Petroleum Engineers Salary 2017: How Much Money Do They Make

Stanley TanLeave a Comment



hourly pay for Petroleum Engineers
do Petroleum Engineers make a lot of money

Petroleum Engineers

Other names for this job might include Automation Engineer, Chief Engineer, Completion Engineer, Completions Engineer, Design Engineer, Drilling Engineer, Drilling Manager, Engineer, Engineering Consultant, Exploration Engineer


  • $147030
    Salary
  • 80%
    Job satisfaction
  • Quite Hard
    Becoming one
  • High
    Job growth
OwlGuru Rank

A+



How Much Successful Petroleum Engineers Make In 2017


In this salary guide, you will find out how much do Petroleum Engineers make.

After reading this, you will be able to make a decision if working as a Petroleum Engineer will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).



Average salary

Annual salary
$147030 per year

Hourly wage
$70.690 per hour


1 of the most popular questions we get from our readers here at OwlGuru is how much do Petroleum Engineers make per year and what is their hourly wage.

According to BLS, the average annual salary of Petroleum Engineers is $147030. Their salary can also be as low as $73000 if you’re still a newbie with no experience to over $# if you have a ton of experience under your belt.

The typical hourly pay is $70.690 and can range from $35.100 to $# which also depends if you’re a newbie or a professional.

Just like any other job, the salary of A Petroleum Engineer will vary based on your education and experience level.

# = Over $100 per hour or $200,000 per year.
Salary rank
A

We wanted to make it easy for our readers to compare the salary of A Petroleum Engineer to all the other careers out there. So we created Salary Rank.

This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.

After comparing how much do Petroleum Engineers make with other careers, they have a salary rank of A.



Become one

schools for Petroleum Engineers

Interested in the career of a Petroleum Engineer? Find the right schools that can help you to become one. This service is free thanks to our sponsors.

Click to start becoming a Petroleum Engineer




Salary range

LevelHourlyYearly
Highest (Top 10%)Over $100Over $200,000
Senior (Top 25%)$86.270$179450
Middle (Mid 50%)$61.650$128230
Junior (Bottom 25%)$46.840$97430
No experience (Bottom 10%)$35.100$73000


Entry-level Petroleum Engineers who starts out at $97430 can expect to make $128230 after 3-5 years of experience in the field.

The bottom 10% makes less than $35.100 per hour while the top 10% makes over $# per hour.

While the median wage is $128230 per annum or $61.650 per hour.

Depending on who you work for, you might also get overtime pay.

# = Over $100 per hour or $200,000 per year.


Highest paying industries

Industry nameHourly wageAnnual salary
Other Professional, Scientific, and Technical Services110.69230230
Management of Companies and Enterprises82.25171080
Oil and Gas Extraction75.86157790
Finance and Insurance75.56157170
Engineering Services74.85155690
Pipeline Transportation of Natural Gas74.73155450
Securities, Commodity Contracts, and Other Financial Investments and Related Activities74.22154380
Other Financial Investment Activities74.22154380
Agriculture, Construction, and Mining Machinery Manufacturing74.2154330
Architectural, Engineering, and Related Services73.65153190
Professional, Scientific, and Technical Services72.84151500
Chemical Manufacturing72.8151420
Basic Chemical Manufacturing72.22150210
Management, Scientific, and Technical Consulting Services71.41148520
All industries, private ownership only71.27148240
Machinery Manufacturing71.02147710
Mining70.97147620
All industries70.92147520
Other Pipeline Transportation70.72147100
Chemical and Allied Products Merchant Wholesalers70.64146930
Pipeline Transportation69.44144430
Transportation and Warehousing69.17143860
Scientific Research and Development Services68.74142990
Research and Development in the Physical, Engineering, and Life Sciences68.74142990
Administrative and Support Services65.05135300
Employment Services65.05135300
Manufacturing65.02135250
Sector 56- Administrative and Support and Waste Management and Remediation Services64.55134270
Petroleum and Coal Products Manufacturing64.41133970
Natural Gas Distribution63.92132960
Utilities63.18131420
Wholesale Trade62.59130180
Merchant Wholesalers, Nondurable Goods61.02126910
Pipeline Transportation of Crude Oil59.77124320
Support Activities for Mining57118550
Electric Power Generation, Transmission and Distribution55.37115170
Petroleum and Petroleum Products Merchant Wholesalers53.59111470
State Government, excluding schools and hospitals46.9697680
State government, including schools and hospitals46.2796230
Federal Executive Branch46.1996070
Federal government, including the US Postal Service46.1996070
Federal, State, and Local Government46.0695800
Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service46.0695800
Federal, state, and local government, including government owned schools and hospitals, and the US Postal Service45.9195500
Testing Laboratories43.1989830

Not all industries pay the same for Petroleum Engineers.

1 of the easiest way to increase your salary is to change industries and find a higher paying one.



Highest paying states

StateHourlyAnnual
TX$79.01$164340
CO$75.24$156500
AK$70.51$146650
WA$68.03$141500
AL$67.55$140490
LA$66.48$138270
CA$64.69$134550
MI$64.45$134050
OK$64.35$133860
IN$63.95$133020

Another simple way to boost your pay as A Petroleum Engineer is to move to a higher paying state. However moving to a higher paying state like TX doesn’t mean you will make more overall. This is because the expenses at TX may be 2x higher than where you are currently living at right now.

According to the BLS, the highest paid / most successful Petroleum Engineers are in the states of TX, CO, AK, WA and AL. The average salary in TX is $164340.



How we can help

Start your journey to be A Petroleum Engineer

Get the best college for Petroleum Engineers


Discover the best colleges for your $$$


Find colleges have the highest earning grads


Yes, I'm sure


Rank: A
Salary: $105390

They study the composition, structure, and other physical aspects of the Earth. May use geological, physics, and mathematics knowledge in exploration for oil, gas, minerals, or underground water; or in waste disposal, land reclamation, or other environmental problems. May study the Earth’s internal composition, atmospheres, oceans, and its magnetic, electrical, and gravitational forces. Includes mineralogists, crystallographers, paleontologists, stratigraphers, geodesists, and seismologists.
Rank: B+
Salary: $96350

They design, develop, or evaluate energy-related projects or programs to reduce energy costs or improve energy efficiency during the designing, building, or remodeling stages of construction. May specialize in electrical systems; heating, ventilation, and air-conditioning (HVAC) systems; green buildings; lighting; air quality; or energy procurement.
Rank: A
Salary: $100970

They conduct sub-surface surveys to identify the characteristics of potential land or mining development sites. May specify the ground support systems, processes and equipment for safe, economical, and environmentally sound extraction or underground construction activities. May inspect areas for unsafe geological conditions, equipment, and working conditions. May design, implement, and coordinate mine safety programs.
Rank: B+
Salary: $96350

They design or plan protocols for equipment or processes to produce products meeting internal and external purity, safety, and quality requirements.
Rank: B+
Salary: $76830

They design or analyze operational solutions for projects such as transportation optimization, network modeling, process and methods analysis, cost containment, capacity enhancement, routing and shipment optimization, or information management.





Trusted by over 50,000 fans


Career type

Architecture and Engineering
Engineering
Engineering and Technology

Other Careers Like This


Help Others Out



Learn more about Petroleum Engineers

Summary
Job Description
Salary (You are here)
Requirements
Is This Right For Me

Study To Be a Petroleum Engineer


Related to Petroleum Engineers Salary

Petroleum Engineers salary, how much do Petroleum Engineers earn, Petroleum Engineers hourly wage, Petroleum Engineers annual pay, highest paying industries for Petroleum Engineers, which states pay the highest for Petroleum Engineers

Additional resources

http://www.bls.gov/OOH/architecture-and-engineering/petroleum-engineers.htm
http://www.asee.org/
http://www.tsaweb.org/
http://ncees.org/

OwlGuru.com
OwlGuru.com is a career and college finder site. We help students to find a career and college that is right for them.
Petroleum Engineers
Written by: Stanley Tan
Petroleum Engineers devise methods to improve oil and gas extraction and production and determine the need for new or modified tool designs. Oversee drilling and offer technical advice.
5 / 5 stars

Leave a Reply

Your email address will not be published. Required fields are marked *