Our world is a huge resource of natural energy like oil and natural gas which is 100ft deep below of earth surface. Petroleum engineers’ job is to find out the places where these natural resources are hidden and to utilize these resources into our daily activities. So petroleum engineers are on high demand and their job is loaded with lots of challenges and opportunities.
Lucrative Salary For Petroleum Engineers
According to the Bureau of Labour and Statistics,the project growth of petroleum engineers is expected to rise 26% in next 10 years. They report that the lower percentile of salary is around 75k per year, the median around 130k per year, and the higher percentile is around 187k per year. A drilling engineer is expected to have a salary of around 212k, a completion engineer around 197k, a production engineer around 194k, and a reservoir engineer around 187k. The Society of Petroleum Engineers also states that some starting salaries are around 75k per year. Remuneration may also vary for different kind of petroleum jobs like drilling, production, completion and reservoir. Work experiences and some other factors play an influential role also.
Experienced and more qualified people are rewarded with higher remuneration as compared to novice. Educational qualification also plays a pivotal factor for petroleum engineers. A graduate with a recognized university will certainly get an added advantage as compare to a degree holder. Master degree or Ph.D. holders can get into directly a high level job and they may work as mentors with research Institutes and good companies with affluent earnings. Some engineers will need to work beyond their normal working hours and they are rewarded with additional pay with incentives. Petroleum engineers often work grueling rotations of 84 hrs on and off while at drill sites. Their effort will certainly have added a good bonus in their career.
Most of petroleum engineers job are not a desk job. They need to travel a lot for job purpose. Some companies are offered travelling allowances and accommodation apart from normal salary. Though the salary structures depend on the size of the company, individual qualification, experience and others, the average salary of a petroleum engineer is much higher than the employee of any other sector. Petroleum engineering as a career is fantastic and a long term one. Pay packages and other facilities are so good that now-a-days it has become one of the prime career focuses for students.