Petroleum engineers devise machinery to extract energy from oil and natural gas.
Petroleum engineers create methods and technology for extracting oil and gas from underneath the earth. They design equipment and processes to achieve extraction efficiently and with maximum profitability. They often work with geologists and other professionals to understand the geological properties of oil deposits and to monitor drilling operations.
Requirements
As with all engineers, those specializing in petroleum require a minimum of a bachelor's degree to enter the profession. However, more advanced positions may require a graduate degree. Study typically involves grounding primarily in scientific and theoretical knowledge. Those interested in the practical application of engineering principles can get a degree in engineering technology. Either education grants an eventual median salary of $108,910 per year for petroleum engineers. The lowest 10 percent earn $58,600 while the highest 10 percent make over $166,400. This information is according to the U.S. Bureau of Labor Statistics as of May 2009.
Industries
The industry offering the most jobs for petroleum engineers is oil and gas extraction with over 40 percent of the available 25,540 jobs. Salaries are above average at $126,090. The best-paying positions are with office administrative services, which offer consulting engineers to manage staff and projects. They pay $146,460, but only have 40 positions.
Experience
Experience is an important factor in compensation for petroleum engineers. The more years of work, the higher the salary, according to the PayScale Report. As of May 2009, new engineers receive $65,250 to $90,748, while at one to four years of experience they earn $71,471 to $94,164. By five to nine years they make $87,848 to $120,631, while at 10 to 19 years they earn $98,926 to $150,940. At 20 or more years of work they top out at $115,034 to $179,698.
Forecast
The BLS sees petroleum engineering jobs growing at 18 percent from 2008 to 2018, which is much faster than average. This growth should also increase salaries at a faster-than-average rate. Despite the growing interest in alternative energy sources, petroleum is still the most reliable way of fueling society, and petroleum engineer can exploit existing sources and discover new ones. Job prospects are excellent because the number of graduates will be less than the number of job openings.
Tags: more years, more years work, petroleum engineers, Petroleum engineers, they earn, years they, years work