Cars, to cooking, plastics, pharmaceuticals, cosmetics, beauty products etc, there are limitless number of products that use petroleum. The job of a petroleum engineer is to draw out oil and natural gas from the surface of the earth for human consumption. Thus, petroleum engineering is definitely an important field of engineering. Oil and natural gas, in the world as modern as today, determines the economy of a country or the world.
Based on a Pennsylvania-based popular non-profit professional association which is the National Association of Colleges and Employers, civil graduates got an average starting salary offer of $52,443 as recorded in the month of April 2010. During the times of unemployment and professional find some declining of salary range, it is in the positive side of civil engineers who enjoyed a good hike, with engineering graduates having 1.3% salary rise.
In you are in an an industry where you do mostly office work, your salary can be around $82,000 to $1, 300,000. But doing more risky jobs like those on-site doing extraction processes have salaries that can go as high as $1, 500,000 per year. Of course, your degree and your list of experiences in the job would also determine your salary and position.
An engineer with a quite high educational attainment, for instance, a masters degree in petroleum can get a salary within the range of 76,000 to 144,000 USD.A bachelor’s degree in petroleum engineering, on the other hand, can earn you a salary between 50,000 to 130,000 USD. The more experience and history you job as a petroleum engineer, the higher would be your compensation package. Just like any job positions, a company would tell you that your experiences could affect how good you will be in the job. A fresh graduate or an engineer working on petroleum for the first time will only start with a compensation package of around 64,000 USD, whereas people with years of experience, say 1-4 years, has a compensation package of 72,000- 94,000 USD. If you have 5-9 years of experience on the job, you can have up to 80,000 to 124,000 USD, whereas those with 10 to 20 years of experience can enjoy a range of 100,000 to 185,000 USD. The higher the experience, the higher the salary.
Because of too much use of petroleum and considering that we can exhaust petroleum as an energy source, petroleum engineers are now looking at alternative and better sources of energy and at the same time, looking for other possible oil fields. They are also using their current fields at the most favorable way. Some refineries are remote or in the middle of the ocean. This is why engineers who work here have to endure being away from their families while on-site.In order to compensate being far from the family, some remuneration and other perks are awarded by companies to these people. Generally, the salary varies on the basis of the place you are assigned in or the risk involved with your work, as well as the financial capability of the company you are employed in.