Oil & gas production is a $96.46 billion business. On average, the oil and gas extraction sector has the best-paying jobs, with the median wage of $125,657 for women and $121,645.
But the current estimated job growth in the industry is disappointing, raising questions like “which oilfield jobs are still well-paying?”
Best-Paying Jobs in the Oil & Gas Production Sector
According to the latest report of Data USA, the best paying jobs in construction, mining, machinery manufacturing, and oil and gas extraction are as follows:
#6: Mechanical Engineer ($91,675)
Despite being one of the most common occupations in the oilfield industry, mechanical engineers still earn an above-average salary. The current 11,000+ mechanical engineers make about $90K per year, which is 62.8% more than an average US worker’s yearly income.
#5: Electrical & Electronic Engineer ($116, 507)
In 2019, there were less than 900 active electrical and electronic engineers in the oilfield sector. In other words, these engineers make up only 0.59% of the industry’s occupations, making them one of the in-demand workforces.
Unsurprisingly, with a six-figure yearly income of $116K, electrical and electronic engineering is among the best-paying jobs in oil & gas production.
#4: Sales Manager ($125,527)
As with most industries, sales managers in the oilfield sector have $100K+ salaries. But the margin of error for this occupation is $31,000, which means companies only look to hire experts with several years of field experience. So, the competition is high, and the chances of having a career in the oilfield industry as a sales manager are low.
#3: Petroleum, Mining, and Geological Engineer ($171,632)
One of the top 3 best-paying jobs in the oilfield industry, petroleum, mining, and geological engineering is the most common occupation in the oil & gas extraction sector. The current number of people in the workforce exceeds 12,00, which is 10.3% of all oilfield engineers.
#2: Geoscientist and Hydrologists ($201, 278)
Although one of the best-paying jobs in oilfield services and production, geoscience and hydrology has one of the highest margins of error at about $55,000. The two occupations are among the most specialized positions, making the competition intense.
#1: Architectural and Engineering Manager ($355,391)
With less than 700 people in the workforce, architectural and engineering managers earn up to $355,000 annually, making the occupation the best-paying job in the industry.
What’s the Worst-Paying Job in Oilfield Sector?
With an average annual salary of $39,009, construction equipment operator is the least-paying job in oil & gas production.