A petroleum geologist assesses whether a resource can be viably accessed.
A petroleum geologist is a geoscientist who specializes in determining whether oil, natural gas or other mineral resources are present below the surface of the earth. He studies the strata of the earth's crust, using scientific equipment such as radar and sonograms, to locate resources and determine whether the amount and location of them merits further exploration. He may work on land or in the ocean and must determine the origin of the resource, its concentration and any potential hazards. His salary reflects the skills that the role requires, but will vary according to the employment situation.
Average Salary
In May 2009 the federal Bureau of Labor Statistics (BLS) published its latest figures for salary levels across occupations in America. It listed the mean annual salary for a geoscientist, such as a petroleum geologist, as $92,710, equivalent to an hourly rate averaging $44.57. However, fluctuations in salary can be quite wide -- the BLS also reports that while the bottom 10 percent of earners in the profession received an average wage of $43,140 per year, their counterparts in the top 10 percent gained a mean pay packet of $161,260.
Salary by Industry
Across different areas of industry in which petroleum geologists may find employment, salary levels can also vary. The Bureau of Labor Statistics lists the average yearly salary for positions within oil and gas extraction companies as $136,270, while employment within federal government agencies brought in an average wage of $94,560. State government agencies also employ petroleum geologists but offer lower average salaries than their federal counterparts -- $62,550. While a petroleum geologist working in a consultative capacity, for management, scientific or technical services, could earn $73,920, an individual employed by an engineering company would be in line for an annual wage of $76,220.
Salary by Location
The geographic location in which a petroleum geologist is employed also influences her salary level. According to the May 2009 data produced by the Bureau of Labor Statistics, positions in Texas pay the highest average wages -- $127,250 -- followed by District of Columbia -- $107,160 -- and Alaska -- $104,410. Colorado and Oklahoma offer reasonably similar salary levels -- $99,590 and $96,290, respectively -- while Wyoming lags behind, listed at $69,360. Midland, Texas, is reported to be the single metropolitan area offering petroleum geologists the highest average salaries, $142,250.
Outlook
For geoscientists, such as petroleum geologists, the future looks reasonably bright with regard to employment prospects. With the Bureau of Labor Statistics predicting opportunities to grow by as much as 18 percent in the decade between 2008 and 2018, petroleum geologists should be able to continue achieving excellent compensation packages. This is expected to be the case because the price of oil and gas will likely rise in the future as supplies become depleted and, historically, the price of such natural resources directly influences employment in the profession -- with high prices the oil and gas companies have capital as well as motivation to spend on exploration efforts.
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