The 10 Highest Paying Oil & Gas Jobs
Make no mistake: the U.S. energy industry may be doing some serious cost-cutting and slimming-and-trimming to stay competitive after the shale boom binge, but when it comes to employment, oil & gas jobs are some of the most lucrative opportunities in the market.
Employment is growing, almost as the U.S. oil and gas production is.
US crude oil production rose from 11.7 million barrels per day at beginning of 2019 up to 12.6 million at close of the month in accordance with the Energy Information Administration (EIA). The production of natural gas has also increased also, rising to 99.1 Bcf/d at the end of October, 95 Bcf/d of it coming dry natural gas, up from 91.3 Bcf/d earlier in the year. The total US natural gas output.
These gains have resulted in increased oil and gas-related jobs.
US Oil and Gas Employment
The US traditionally-based Energy Efficiency and Traditional Energy sectors in 2018 included 6.7 million Americans in 2018 according to the US Energy and Employment Report 2019 which includes nearly 1.5 million employed directly in the gas and oil sector, and an additional 1.2 million people employed in the power generation industry, which encompasses all forms of power generation including gas and oil.
Employment in the field of oil as well as gas extraction, and related support service, specifically it was at the highest level in 2018, since fall 2014, which was the next highest point.
Are those positions? They’re not too bad if at all interested.
The energy independence movement in America has created a record for US workers in the oil and gas industry. In fact the utility and energy industries have the highest median wages of any sector within the S&P 500.
Who’s Who in Energy
If you’re looking to earn some money from oil and gas jobs, you don’t need to look too far. The oil industry is having a lot of a job attracting qualified workers, and ExxonMobil, Phillips66, and Anadarko — all Texas with a Texas base — have been willing to pay the money.
ExxonMobil’s median salary according to a Wall Street Journal analysis, was $171,375. Phillips66’s median wage was $196,407 according to a Wall Street Journal survey.
When compared to the median salary for those with advanced degrees of $77,324, which is quite generous. But which oil and gas jobs are most desirable?
Best Paying Jobs in Oil & Gas Production
Pay isn’t the only thing, but it’s certainly something. If you’re not able to attract employees by demonstrating good corporate citizenship or your environmental stewardship it’s time to pony up the money. What jobs are companies in the oil and gas industry putting the most cash into to find top talent?
The list of salaries for the year below derived using the Global Talent Energy Index was compiled from employees who have six years of experience working in the energy and oil industry:
Production Engineer $225,600.
Production engineers mostly have degrees in petroleum engineering and are in charge of designing and selecting the equipment needed that will get it to the production stage after drilling. They also keep an eye on the well during running to make sure that the well is working efficiently and commercially viable.
Project Engineer $126,846.
Project Engineers ensure that the construction, design as well as major projects for maintenance are properly completed within budget. They examine progress reports and propose modifications to construction and monitor and report on progress to the stakeholders.
HSE Manager $126,874.
Health, Safety, and Environmental managers create and implement safety and security programs for the organization. They monitor and update HSE policies and also perform risk assessments and develop security measures. The requirements include a bachelor’s degree in safety and health management, occupational health, and environmental sciences.
Mechanical Engineer $127.828.
Mechanical engineers support plant equipment and design, create and install equipment for the processing of gas and oil with a particular emphasis on quality, safety, reliability, and sustainable development.
Geophysicist $128,965.
Geophysicists study the physical characteristics of the earth to find out what is below the ground.
5 Drilling Engineer $129,944.
This position manages the rig personnel and is accountable for monitoring and maintaining wells, as well as ensuring security measures are implemented and, in general, is responsible for the technical and financial operation of drilling for gas or oil.
Reservoir Engineer $137,156.
Reservoir Engineers draw upon fluid mechanics and geology know-how to discover oil in reservoirs that are underground. They also evaluate the number of petroleum reserves that are underground. Most often, they hold a degree in petroleum engineering.
3 Construction Manager $150,000.
CMs are responsible for delivering construction that is in accordance with HSE regulations and the schedule. They collaborate together with project managers and the management of teams to oversee and supervise construction projects.
Drilling supervisor $148,476.
Drilling supervisors are responsible for drilling operations and ensure that drilling is done in time. Contrary to other important job opportunities in the gas and oil industry drilling supervisors rarely require a bachelor’s degree. But, many years of work experience are generally needed. Certain employers prefer a degree in mechanical or drilling engineering.
Project Manager $157,795.
The highest-paying position in the petroleum and natural gas sector is PM, which is a surprise why. The PM’s responsibility is to ensure that the whole project, from beginning to end is within budget, in line with specifications, and in compliance with the safety guidelines. The PM is also responsible for ensuring that communication flows smoothly across groups. The PM serves as the glue to hold the company together. Companies will pay for the most effective.
Top Paying Petrochemicals Jobs
The petrochemical sector doesn’t receive nearly as much praise as the gas and oil industry, but it’s believed to be the future of the oil and gas industry. Much like the conventional oil and gas jobs, petrochemical positions are very lucrative, though they pay salaries that aren’t as expensive.
The most lucrative job in the field of petrochemicals is the Process Engineer, who earns an average of a 6-year veteran $123,400 annually. Quality Assurance Manager comes in as #2 and pays $122,190 annually. Other top positions in the petrochemicals field include the Construction Manager (#3) with a salary of $117,856 per year Mechanical Engineer (#4) with a salary of $111,630 as well as Chemical Engineer (#5) at $98,636.
Top Paying Jobs in Renewables Sector
The renewables industry has something other energy-related occupations do not have: they appeal to the generation of millennials. As such, they tend to have a much easier to attract talented people who are looking to become excellent citizens.
It’s great that they are happy with their work since generally, they’ll make less money.
The highest-paying job within the renewables industry is the Construction Manager at $118,730. The second slot is filled by HSE Manager with a salary of $102,997. next to Mechanical Engineer at $92,822.
Top Paying Jobs in the Nuclear Sector
We hear lots about oil and gas within our part of the United States, but the US is also the world’s biggest generator of power from nuclear in accordance with the World Nuclear Association that produces more than 30 percent of the world’s power generation from nuclear sources.
Around 20% of the United States’ total electrical output is generated by nuclear power. Despite the fact that there has been a 30-year slump in construction, two new nuclear facilities are in development. In all, the US has 98 operating nuclear power plants spread across thirty States.
But the nuclear sector could be unable to draw new talents. The image that the sector has as well as its technical aspects of what is and the requirement for skills that are only for nuclear work are all working against the sector.
There are plenty of opportunities in this area and the current nuclear workforce. That is over 55 is one-third of the workers in this field which leaves the doors open for the next generation if they’re at all.
What do the positions in this sector measure up to? Near the bottom, I would guess that salaries are increasing.
The highest-paying job within the nuclear industry is the Construction Manager with a salary of $118,565. The second highest paying job is Nuclear Engineer, at $108,250 per year. The Electric Engineer is in fourth place at $103,160.
In the future, IHS predicts that by 2025, the natural and unconventional oil gas value chain, as well as the related chemicals activities for energy will provide 3.9 million people.
It is estimated that the United States accounted for 98% of global expansion in the production of oil in the year 2018 and the EIA anticipates that crude oil output in the US to rise to 13.2 million barrels per day by the end of next year. In addition to the fact that the US is predicted to keep its position as the top oil buyer in all of the globe, US job growth within the gas and oil industry is expected to continue to show growth in the coming years.
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