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).
$147030 per year
$70.690 per hour
One 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.
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.
|Highest (Top 10%)||Over $100||Over $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 name||Hourly wage||Annual salary|
|Other Professional, Scientific, and Technical Services||110.69||230230|
|Management of Companies and Enterprises||82.25||171080|
|Oil and Gas Extraction||75.86||157790|
|Finance and Insurance||75.56||157170|
|Pipeline Transportation of Natural Gas||74.73||155450|
|Securities, Commodity Contracts, and Other Financial Investments and Related Activities||74.22||154380|
|Other Financial Investment Activities||74.22||154380|
|Agriculture, Construction, and Mining Machinery Manufacturing||74.2||154330|
|Architectural, Engineering, and Related Services||73.65||153190|
|Professional, Scientific, and Technical Services||72.84||151500|
|Basic Chemical Manufacturing||72.22||150210|
|Management, Scientific, and Technical Consulting Services||71.41||148520|
|All industries, private ownership only||71.27||148240|
|Other Pipeline Transportation||70.72||147100|
|Chemical and Allied Products Merchant Wholesalers||70.64||146930|
|Transportation and Warehousing||69.17||143860|
|Scientific Research and Development Services||68.74||142990|
|Research and Development in the Physical, Engineering, and Life Sciences||68.74||142990|
|Administrative and Support Services||65.05||135300|
|Sector 56- Administrative and Support and Waste Management and Remediation Services||64.55||134270|
|Petroleum and Coal Products Manufacturing||64.41||133970|
|Natural Gas Distribution||63.92||132960|
|Merchant Wholesalers, Nondurable Goods||61.02||126910|
|Pipeline Transportation of Crude Oil||59.77||124320|
|Support Activities for Mining||57||118550|
|Electric Power Generation, Transmission and Distribution||55.37||115170|
|Petroleum and Petroleum Products Merchant Wholesalers||53.59||111470|
|State Government, excluding schools and hospitals||46.96||97680|
|State government, including schools and hospitals||46.27||96230|
|Federal Executive Branch||46.19||96070|
|Federal government, including the US Postal Service||46.19||96070|
|Federal, State, and Local Government||46.06||95800|
|Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service||46.06||95800|
|Federal, state, and local government, including government owned schools and hospitals, and the US Postal Service||45.91||95500|
Not all industries pay the same for Petroleum Engineers.
One of the easiest way to increase your salary is to change industries and find a higher paying one.
Highest paying states
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.
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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.
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.
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.
They design or plan protocols for equipment or processes to produce products meeting internal and external purity, safety, and quality requirements.
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.
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