Petroleum Engineering - ExxonMobil Petroleum Engineer Salary

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Petroleum Engineering – ExxonMobil Petroleum Engineer Salary

Want to know about ExxonMobil Petroleum Engineer Salary? If yes, you are in the right place. Virtually all boards of the highest paying jobs are headed by a petroleum engineer. People who live in wealthy, oil-enriched states know all about the oiler’s lifestyle, but others across the country may not be as familiar with the rewards the job offers, both psychological and monetary.

Why are petroleum engineers so well paid?

Petroleum engineers are the ones who determine how to extract oil from the ground. The methods they devise for extracting oil from all kinds of wells determine exactly how valuable a particular oil well will be to the oil company. They also spend time thinking of ways to make older wells more productive in the amount of oil they produce.

ExxonMobil Petroleum Engineer Average Salary

ExxonMobil Petroleum engineers earn $81,000 per year, or $39 per hour, which is equal to the national average for all petroleum engineers of $81,000 per year and 20% more than the national average wage for all U.S. workers.

The highest-paid Petroleum Engineers work for Petrotrin for $116,000 a year and the lowest-paid Petroleum Engineers work for SAIC for $86,000 a year.

What are the benefits of ExxonMobil?

ExxonMobil Petroleum Engineer Salary – ExxonMobil offers its employees a variety of retirement and social assistance benefits. Like the ExxonMobil Corporation, many U.S. companies offer collective health benefits for their employees, with a large percentage of each employee’s health insurance being funded by their employer.

ExxonMobil Corporation Benefits

• Life insurance.

• Dental insurance.

• Health insurance.

• Vision insurance.

• Accident death and mutilation insurance.

• Temporary disability insurance.

• Long-term disability insurance.

Under this scheme, employers levy tax deductions for their premiums, and employees have tax-free coverage. ExxonMobil Corporation offers health, dentistry, and vision plans. ExxonMobil Corporation also offers group life insurance, death benefits that cover certain causes of death, short-term disability insurance for accident or illness, and long-term disability insurance.

ExxonMobil Petroleum Pension and financial benefits

To ensure a reliable stream of income later in life, many employees participate in employer-sponsored retirement plans. ExxonMobil Corporation offers defined benefits and defined contribution plans. With a defined benefit plan, employees receive a fixed benefit when they retire. With a defined contribution plan, employers help employees save and invest for their retirement

• Defined contribution pension scheme

• Defined benefit plan

• Stock bonus

• 401(k) plan

• Share profit

Petroleum Engineering - ExxonMobil Petroleum Engineer Salary

Best Companies in the Oil Industry That Hire People with Good Salary

Petroleum Engineering is exciting and lucrative and those who can complete the degree are in high demand. There are many companies in the oil industry that hire people, including places like:

• Chevron

Chevron is always looking for engineers to solve integrated water management problems, among other things. Based in San Ramon, California, this large company employs more than 5,000 people worldwide.

• Schlumberger Limited

Schlumberger Limited is a leading oilfield services company that hires people to assist in oil exploration. Based in Houston, Texas, this company employs thousands of people each year. This great company is looking for fresh and talented minds to make the oil extraction process more profitable. They are one of the world’s leading oilfield service companies and are home to many talented petroleum engineers.

• Quantum Reservoir Impact Company

Then there is the Quantum Reservoir Impact Company, a value creation company for the oil and gas industry. Talented people are needed to create higher hydrocarbon recoveries and higher production yields from existing oil and gas wells.

They are looking for capable petroleum engineers who can help make their entire operation more efficient and safer in the long run. They are headquartered in Houston, Texas, and employ thousands of people around the world.

• Engineer Petroleum Measurement

Engineer Petroleum Measurement is another company that works for the oil industry and helps measure hydrocarbons around the world. These talented individuals help locate oil fields around the world and help determine the best way to extract the oil, which company controls the rights, and the application of industry standards to the operation. These petroleum engineers make sure everything is ethical and safe. This company is located in New Orleans, Louisiana.

SPE SALARY SURVEY: EXECUTIVE SUMMARY

Every year the Society of Petroleum Engineers surveys its members and produces a report about the current state of compensation in the oil industry.

The figures for 2015 (the last year with full data) were broadly good, though lower bonuses were paid (not surprising, given the low oil price).

The average total compensation (base salary plus bonuses) was $206,020.
Almost 60% of the Petroleum Engineers in the survey reported an increase in base pay.
The average bonus fell from nearly $58,000 in 2014 to just under $53,000 in 2015 (still nearly a year’s salary in most professions).
The USA was the region with the highest total compensation.