As of July 01, 2026, the average salary for a Petroleum Engineer in Alaska is $127,759 per year, which breaks down to an hourly rate of $61.
However, a Petroleum Engineer's salary can vary significantly. Here’s a look at the typical salary range:
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A Petroleum Engineer's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Petroleum Engineer's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Levels | Salary |
|---|---|
| Petroleum... Level Petroleum Engineer | $127,073 |
| Drilling ... Level Petroleum Engineer | $149,516 |
| Drilling ... Level Petroleum Engineer | $185,278 |
| Drilling ... Level Petroleum Engineer | $206,267 |
| Drilling ... Level Petroleum Engineer | $246,350 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Petroleum Engineers. For example, consider the average annual salaries in these key locations:
For Petroleum Engineer roles, the industry you choose can affect earning potential by as much as 52% (the gap between the highest and lowest paying industries). Data shows that the Energy & Utilities and Finance & Insurance sectors offer the strongest compensation, at 30% above the average. In contrast, Petroleum Engineer positions in Hospitality & Leisure or Retail & Wholesale typically offer lower base pay, as these industries often view Petroleum Engineer as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Energy & Utilities | $166,086 | $80.0 | 30% |
| Finance & Insurance | $159,699 | $77.0 | 25% |
| Information Technology | $153,311 | $74.0 | 20% |
| Mining | $146,923 | $71.0 | 15% |
| Professional Services | $134,147 | $64.0 | 5% |
Understanding how a Petroleum Engineer's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on July 01, 2026Ready to take the next step in your career? Browse thousands of current Petroleum Engineer job openings on our job board. Use the search bar below to find your perfect match.
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