A person working as a Petroleum Engineer in United States typically earns around 97,100 USD per year. Salaries range from 45,600 USD (lowest) to 153,000 USD (highest).
This is the average yearly salary including housing, transport, and other benefits. Petroleum Engineer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Petroleum Engineer salaries in United States range from 45,600 USD per year (minimum salary) to 153,000 USD per year (maximum salary).
The median salary is 103,000 USD per year, which means that half (50%) of people working as Petroleum Engineer (s) are earning less than 103,000 USD while the other half are earning more than 103,000 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Petroleum Engineer (s) are earning less than 66,800 USD while 75% of them are earning more than 66,800 USD. Also from the diagram, 75% of Petroleum Engineer (s) are earning less than 136,000 USD while 25% are earning more than 136,000 USD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Petroleum Engineer salaries by experience level and this is what we found.
A Petroleum Engineer with less than two years of experience makes approximately 52,600 USD per year.
While someone with an experience level between two and five years is expected to earn 72,600 USD per year, 38% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 103,000 USD per year, 42% more than someone with two to five years of experience.
Additionally, Petroleum Engineer (s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 126,000 USD per year, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 133,000 USD per year, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 145,000 USD per year, 9% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+38%|
|5 - 10 Years||+42%|
|10 - 15 Years||+22%|
|15 - 20 Years||+6%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Petroleum Engineer salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of a Petroleum Engineer is 72,600 USD per year.
While someone with a Master's Degree gets a salary of 133,000 USD per year, 83% more than someone having a Bachelor's Degree degree.
A Master's degree program or any post-graduate program in United States costs anywhere from 39,500 US Dollar(s) to 118,000 US Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Petroleum Engineer employees in United States earn 6% more than their female counterparts on average.
Petroleum Engineer (s) in United States are likely to observe a salary increase of approximately 12% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in United States for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Petroleum Engineer is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
41% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Petroleum Engineer is 14% more than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.
|Job Title||Average Salary|
|Assistant Yard Manager||88,500 USD||-9%|
|Associate Analyst||95,500 USD||-2%|
|Associate Landman||40,100 USD||-59%|
|Auxiliary Equipment Operator||37,500 USD||-61%|
|Biomass Plant Technician||41,100 USD||-58%|
|Biomass Power Plant Manager||121,000 USD||+25%|
|Chemical Plant Operator||71,700 USD||-26%|
|Chief Contract Compliance Engineer||96,600 USD||-0%|
|Completions Engineer||82,500 USD||-15%|
|Cost Controller||66,100 USD||-32%|
|Crude Oil Marketing Representative||96,900 USD||-0%|
|Distribution Manager||123,000 USD||+27%|
|Dragline Operator||43,300 USD||-55%|
|Driller Offsider||32,800 USD||-66%|
|Dump Truck Driver||35,800 USD||-63%|
|Electric and Gas Operations Manager||209,000 USD||+120%|
|Energy Advisor||135,000 USD||+39%|
|Energy Analyst||124,000 USD||+28%|
|Energy Auditor||112,000 USD||+15%|
|Energy Dispatch Director||146,000 USD||+50%|
|Energy Technical Assistant||54,600 USD||-44%|
|Energy Technical Manager||113,000 USD||+16%|
|Energy Technical Trainer||74,300 USD||-23%|
|Exploration Manager||153,000 USD||+58%|
|Field Safety Auditor||102,000 USD||+5%|
|Fluids Engineer||85,500 USD||-12%|
|Fuel Cell Engineer||91,700 USD||-6%|
|Fuel Cell Technician||45,000 USD||-54%|
|Fuels Handler||41,900 USD||-57%|
|Gas Compressor Operator||38,200 USD||-61%|
|Gas Distribution Plant Operator||72,900 USD||-25%|
|Gas Supply Manager||127,000 USD||+31%|
|Geothermal Production Manager||145,000 USD||+49%|
|Geothermal Technician||61,200 USD||-37%|
|HSE Engineer||87,800 USD||-10%|
|HSE Officer||55,000 USD||-43%|
|HSEQ Administrator||65,500 USD||-33%|
|Instrument Designer||70,300 USD||-28%|
|Lead Technical Field Advisor||115,000 USD||+18%|
|Logistics and Tool Coordinator||79,100 USD||-19%|
|Maintenance Engineer||93,500 USD||-4%|
|Maintenance Superintendent||77,900 USD||-20%|
|Material Controller||58,200 USD||-40%|
|Mine Engineer||86,000 USD||-11%|
|Mine Surveyor||96,000 USD||-1%|
|Mining Project Administrator||80,600 USD||-17%|
|Mining Project Assistant||63,400 USD||-35%|
|Mining Project Controls Consultant||93,300 USD||-4%|
|Mining Project Coordinator||79,900 USD||-18%|
|Mining Project Engineer||88,900 USD||-8%|
|Mining Project Manager||116,000 USD||+19%|
|Mining Site Manager||114,000 USD||+17%|
|Mining Team Leader||89,100 USD||-8%|
|NDT Technician||53,000 USD||-45%|
|Oil Service Unit Operator||44,300 USD||-54%|
|Oil Trader||117,000 USD||+21%|
|Oilwell Pumper||34,400 USD||-65%|
|Petroleum Engineer||97,100 USD||+0%|
|Petroleum Geologist||153,000 USD||+58%|
|Petroleum Pump System Operator||48,300 USD||-50%|
|Pipeline Technician||33,700 USD||-65%|
|Power Coordinator||55,300 USD||-43%|
|Power Plant Operations Manager||177,000 USD||+82%|
|Power Plant Operator||73,500 USD||-24%|
|Radio Operator||38,700 USD||-60%|
|Reliability Engineer||86,500 USD||-11%|
|Reservoir Engineer||83,400 USD||-14%|
|Risk Analyst||112,000 USD||+15%|
|Shutdown Engineer||76,100 USD||-22%|
|Solar Energy Installation Manager||127,000 USD||+31%|
|Solar Energy Systems Engineer||92,300 USD||-5%|
|Solar Photovoltaic Installer||60,000 USD||-38%|
|Solar Thermal Technician||53,100 USD||-45%|
|Supply Operations Manager||142,000 USD||+46%|
|Sustainability Specialist||138,000 USD||+42%|
|System Development Advisor||105,000 USD||+8%|
|Tanker Truck Driver||35,600 USD||-63%|
|Utility Operator||46,700 USD||-52%|
|Wind Energy Project Manager||120,000 USD||+24%|
|Iowa City||82,900 USD|
|Kansas City||97,500 USD|
|Las Vegas||98,800 USD|
|Long Beach||95,800 USD|
|Los Angeles||124,000 USD|
|New Orleans||85,500 USD|
|New York||123,000 USD|
|Oklahoma City||96,000 USD|
|San Antonio||111,000 USD|
|San Diego||114,000 USD|
|San Francisco||111,000 USD|
|San Jose||107,000 USD|
|Washington D.C.||106,000 USD|
|District of Columbia||87,200 USD|
|New Hampshire||92,200 USD|
|New Jersey||103,000 USD|
|New Mexico||97,700 USD|
|New York||110,000 USD|
|North Carolina||103,000 USD|
|North Dakota||89,600 USD|
|Rhode Island||92,900 USD|
|South Carolina||100,000 USD|
|South Dakota||86,300 USD|
|West Virginia||93,900 USD|
Where can you get paid more, working for a private company or for the government? Public sector employees in United States earn 5% more than their private sector counterparts on average across all sectors.