Geologists study the earth and assist in the use of its natural resources.
Geologists in the oil and gas industries are among some of the highest paid scientists in any field. They use their expert knowledge of the earth and constituent elements to determine where and extract the earth's natural resources. According to the Bureau of Labor Statistics (BLS), geologists in the gas and oil extraction field make up 6,390 of the 30,830 geologists nationwide. Salaries in this field tend to vary by employer and location, along with other factors like experience and education.
Average Salary
The average salary for a geologist working in the oil and gas extraction industry was $132,210 per year as of May 2010, according to the BLS. The bureau indicates that this was the highest average salary earned by any group of geologists across all industries. The average salary for all geologists nationwide was $93,380 per year.
Pay Scale
Placing the salary of oil and gas extraction geologists within the larger pay scale for all geologists nationwide can provide additional context and insight. According to the BLS, the median salary for those working in this field was $82,500 per year in 2010. The middle 50 percent of the pay scale earned salaries ranging from $57,820 to $115,460. The highest paid geologists made salaries of $160,910 or more per year. This provides an indication that the typical geologist working in the oil and gas industry tends to earn a salary somewhere in the 75th percentile or higher in terms of salaries for all geologists.
Location
According to the BLS, the largest number of geologists worked in Texas and earned an average salary of $125,070 per year in 2010. Those employed in California made substantially less at $84,480 per year, while those in the state of of Colorado brought home $96,610 per year. Oklahoma geologists averaged $129,870 and were the highest paid geologists in the nation.
Job Outlook
The job outlook for those in the field of geology is expected to remain positive through 2018, if the projections of the BLS hold. The bureau expects job growth to occur at a rate of 18 percent for this field over the reported total in 2008. The bureau indicates that high oil and gas prices generally necessitate the creation of more jobs for geologists in the oil and gas extraction field.
Tags: average salary, geologists nationwide, highest paid, this field, year 2010, bureau indicates, bureau indicates that