Understand Petroleum Engineer Salary
Cars, to cooking, plastics, pharmaceuticals, cosmetics, beauty products etc. there are plenty of products manufactured today that use Petroleum. Petroleum engineering is a vital field of engineering. It’s job is to extract oil and natural gas from the surface of the earth to be processed into something that would be used for human consumption. The world’s economy in today’s’ modern world is determined by oil and natural gas.
As recorded in April 2010, a Pennsylvania-based popular non-profit professional association, the National Association of Colleges and Employers said that civil graduates got an average starting salary offer of $52,443. With engineering graduates having a 1.3% salary rise, civil engineers are enjoying an excellent hike while during recession and some professionals are seeing a declining salary range.
If you are an engineer working in an industry doing mostly office work, you get around $82,000 to $1, 300,000 only. Whereas, you can get up to $1, 500,000 per year if you work on-site jobs, perhaps involved in the extraction process of gas or oil. Most often, among other things, your educational background and your experiences on this field of work would also determine how much compensation you’ll receive.
For example, an engineer armed with a masters degree in petroleum can get a salary within the range of 76,000 to 144,000 USD.Whereas, a bachelor’s degree in petroleum engineering can earn you a salary between 50,000 to 130,000 USD. You might want to know if work experience is also important in this type of job. Well yes, your amount of compensation, depending on your work history and experiences, could still vary or go high. A newbie would only have to start with 64,000 USD, while engineers with 1-4 years of experience as a petroleum engineer can earn a salary within the range of 72,000- 94,000 USD. The ones with 5-9 years of experience can have as much as 80,000 to 124,000 USD and those with 10 to 20 years of experience can enjoy a salary of 100,000 to 185,000 USD. The higher the experience, the higher the salary.
Petroleum engineers are now looking at alternative and better sources of energy in the fear of exhausting our sources. People are using petroleum way too much and there is a possibility of shortage. New oil fields are also hunted while using the current ones in the best optimum way. While these individuals are getting excellent pay, engineers who are working at refineries or on-site jobs sacrifice being with their family. Some refineries are remote and can even be in the middle of the ocean.Just to compensate the time away from the family, many organizations give them some remuneration and other perks. As a general rule, the salary of a petroleum engineer vary depending upon the site assigned to them or the risks involved at work. This also depends on the financial capability of the company.
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