Petroleum Engineers Enjoy Highest Projected Salary Growth: ABC News
Last week ABC News reported that chemical engineer and mechanical engineer are two of the degrees college students can seek that can lead to jobs as petroleum engineers, a career with an average salary of $130,280. Petroleum engineers do not only currently enjoy generous pay rates, but ABC reports that the projected rate of salary growth between now and 2022 for such professionals is 26%.
The report called for the salaries of surgeons, physicians, psychiatrists, orthodontists and dentists to grow by 16% – 18% by 2022, while podiatrists came in second at a 23% rate of growth. Salaries for attorneys are expected to grow by 10%, with air traffic controllers at only 1%.
In an Oil & Gas 360® interview last week from EnerCom’s 19th Oil & Gas Conference®, Dr. William Fleckenstein, Interim Head of the Petroleum Engineering Department at Colorado School of Mines, said petroleum is driving enrollment at his university and that petroleum engineers are beginning to replace geophysicists as the number one position of importance at independent oil and gas companies.
The increasing complexity of well completions, fracturing and completion techniques and combinations, and new technologies coming on line to increase well productivity are fueling the industry’s need for petroleum engineers more so than its need for geophysicists to locate new oil and gas deposits, Fleckenstein said.
ABC reported the average salary for software engineers is $93,250, followed by electrical engineers at $89,630 and for mechanical engineers at $80,580.
In one listing of current openings for petroleum engineers, the U.S. Bureau of Safety and Environmental Enforcement is seeking a petroleum engineer with one year experience to work at Lake Charles, La., and it is offering a salary between $90,489 and $117,635 per year.
Cowboys weren’t covered in the ABC News report; however they are still considered part of the job scene after more than 150 years. Monster reports the average U.S. cowboy earns $25,000 – $35,000. Referring to perks of the job, the Treasury Board of Canada Secretariat’s website states that in Canada, “pasture managers, pasture riders and range riders shall receive a horse allowance of one thousand two hundred and fifty dollars ($1,250) per season.”
[sam_ad id=”32″ codes=”true”]
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.