Petroleum Engineer Salary and Wage Information
| Wage Rate | Low (<10%) | Median (50%) | High (>90%) |
| Hourly Wage | $35.70 | $63.60 | $90.00+ |
| Annual Wage | $74,200 | $132,300 | $187,200 |
- "Low (<10%)" indicates that 10% of workers earned less and 90% earned more.
- "Median (50%)" indicates that 50% of workers earned less and 50% earned more.
- "High (>90%)" indicates that 90% of workers earned less and 10% earned more.
- "N/A" indicates that data in not available
*The annual salary and wage data presented above represents U.S, Based workers with full-time employment and year-round schedules.
Additional Information
Petroleum Engineers develop ways to improve gas and oil well production, and determine the need for modified or new tool and equipment designs. Their job is to make oil and gas extraction more efficient and more profitable. They find new ways to extract oil and gas from old wells, and develop new ways to extract oil from deposits more quickly and easily. They're also responsible for making sure that all equipment is installed, operated, and maintained safely and correctly.As of 2012, the median annual salary for petroleum engineers was $130,280. The lowest ten percent of petroleum engineers earned less than $75,000 a year, while the top ten percent earned more than $187,000 a year.
For the top five industries employing petroleum engineers, the median annual salaries were as follows:
| Oil and gas extraction | $144,800 |
| Management | $143,200 |
| Architectural and engineering services | $121,800 |
| Petroleum and coal products | $120,400 |
| Mining support services | $101,800 |