Earnings
 Earnings
for engineers vary significantly by specialty, industry, and education. Even so, as a group, engineers earn some of the highest average starting
salaries among those holding bachelor's degrees.
 Salary
Data
According the U.S. Department of Labor, Bureau of Labor
Statistics, the median income for petroleum engineers is $98,380. In terms of
starting salaries, the average starting salary for petroleum engineers who have earned a Bachelor's degree is $60,718. According to a
recent salary survey by the National Association of Colleges and
Employers, bachelor's degree candidates in petroleum engineering
received starting salary offers averaging $62,236 a year. They
are among the highest paid engineers.
SPE
Salary Survey
The Society of Petroleum Engineers
conducts a global salary survey of members. For the most recent survey
(2007), the average base salary of respondents worldwide was $122,458,
an increase from the USD 116,834 in the 2006 survey. Additional
compensation, such as bonuses, housing allowances, car
allowances, and retirement contributions raised total average
compensation for 2007 to $167,712.
Not surprisingly, the
average income increased with years of work experience. More details
about the salary survey are on the
SPE website.
Note: Some resources in this section are provided by the US Department
of Labor, Bureau of Labor Statistics.
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