How Much Do Petroleum Engineers Make in 2021 (including Starting Salary)

Stan T.Career, SalaryLeave a Comment

Annual Salary, Salary Range, and Highest Paying States and Industries

Petroleum Engineers

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.

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Bachelor's degree
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Table of contents
  1. Average salary
  2. Starting salary
  3. Salary rank
  4. Salary range
  5. Highest paying states
  6. Highest paying industries

Average salary

Annual salary
$154330 per year
Hourly wage
$74 per hour

Starting salary

Entry-level annual salary
$78,620 to $108,130 per year
Entry-level hourly wage
$38 to $52 per hour

Entry-level Petroleum Engineers with little to no experience can expect to make anywhere between $78,620 to $108,130 per year or $38 to $52 per hour. Similar to any other job, their salary will increase as they gain experience.

Salary rank

Salary rank

We wanted to make it easy for our readers to compare the salary of Petroleum Engineers to all the other careers out there. So we created Salary Rank. We compared the salary of all careers then we gave them a rank of A, B, C, or D depending on where their average salary sit in comparison to other careers.

Salary range

Level Hourly Annual
Highest (Top 10%) $100+ $208,000+
Senior (Top 25%) $91 $189,030
Middle (Mid 50%) $66 $137,330
Junior (Bottom 25%) $52 $108,130
No experience (Bottom 10%) $38 $78,620

Highest paying states

State Hourly Annual
NJ $89 $184,560
TX $82 $169,760
FL $77 $160,710
CO $77 $160,150
OK $75 $156,390
AK $72 $150,390
CA $68 $140,680
IL $67 $139,550
OH $66 $136,700
WA $65 $134,870

Another simple way to increase your salary as a Petroleum Engineer is to move to a higher paying state. However moving to a higher paying state like NJ doesn’t guarantee that you will make more because the expenses at NJ might be much higher than where you are currently living at right now.

According to BLS, the highest paid Petroleum Engineers are in the states of NJ, TX, FL, CO and OK.

Highest paying industries

Salary by industry Annual Hourly
Securities, Commodity Contracts, and Other Financial Investments and Related Activities $205330 $98.72
Employment Services $205320 $98.71
Credit Intermediation and Related Activities $204540 $98.34
Scientific Research and Development Services $189050 $90.89
Management of Companies and Enterprises $180570 $86.81
Architectural, Engineering, and Related Services $174710 $84.00
Computer Systems Design and Related Services $163100 $78.41
Machinery Manufacturing $161960 $77.87
Oil and Gas Extraction $154470 $74.27
Petroleum and Coal Products Manufacturing $140730 $67.66
Management, Scientific, and Technical Consulting Services $139960 $67.29
Chemical Manufacturing $139340 $66.99
Pipeline Transportation of Crude Oil $138950 $66.80
State Government $133570 $64.22
Pipeline Transportation of Natural Gas $126070 $60.61
Natural Gas Distribution $123380 $59.32
Support Activities for Mining $116710 $56.11
Other Pipeline Transportation $114490 $55.04
Federal Executive Branch $113590 $54.61
Other Professional, Scientific, and Technical Services $99200 $47.69
Local Government $95470 $45.90
Merchant Wholesalers, Nondurable Goods $79080 $38.02
Colleges, Universities, and Professional Schools $72700 $34.95
Office Administrative Services $ $*

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