Highest and Best paying jobs in oil and gas industry: The oil and gas industry is one of the world’s largest industries. People need oil and gas for everything from powering cars to heating buildings and generating electricity.
Highest and Best Paying Jobs in Oil and Gas Industry
Consequently, professionals in the oil and gas industry must be highly skilled and experienced. Careers in the oil and gas industry may vary depending on where you live. Read on to find out which positions pay the highest.
Some of the best paying jobs in oil and gas industry include:
- Project Manager,
- Reservoir engineer,
- Sales representative, and
- Mechanical engineer.
You can also learn to know if career in the oil and gas industry is worth it here.
Project Manager
The oil and gas industry offers a variety of jobs, including the role of a Project Manager. A project manager oversees all aspects of a project, from the start to finish. This position requires advanced management skills and knowledge of business practices.
Applicants must also have a strong business background and an understanding of profit and loss. A project manager must have good communication and negotiation skills, and should be able to resolve conflict.
Project managers should also be able to build teams and motivate them.
If you have an eye for detail, becoming a Project Manager is a great option. These executives are responsible for ensuring that projects are on schedule, on budget, and within safety guidelines.
Their job involves ensuring effective communication among different groups and enforcing organizational rules. They also need to be very organized and enjoy sticking to rules. Those interested in working in this industry should enjoy the organization structure and be willing to work in a team environment.
Although there are a number of factors that influence salary, there are a few common factors that are likely to affect the annual salary for project managers. The most common factor is the type of experience.
The more experience you have, the higher your salary will be. Project managers in the oil and gas industry can earn anywhere from $85,000 to $100,000. And with the high demand for their skills, salaries are also highly competitive.
The qualifications for a Project Manager may differ depending on the employer, but they will usually require three years of experience and formal training. Obtaining the PMP certification is an additional prerequisite for this position.
A PMP is usually obtained through a university or professional association, or through a specific online learning program. A person can also learn from the hands-on experience and expertise of the Project Manager.
Reservoir engineer
A reservoir engineer is one of the most knowledgeable employees within an oil company. This position requires the engineer to use knowledge of geology and fluid mechanics to analyze a reservoir and develop ways to recover fuels from it.
They may also be called upon to represent their company in meetings with government officials or partners. This job requires strong communication skills and the ability to explain complex ideas to non-experts.
A reservoir engineer must be able to effectively communicate with many different people, including project managers, supervisors, and colleagues.
Effective communication skills can make it easier to convey complex information, build relationships, and ensure that other people understand the job description.
A reservoir engineer may also be responsible for identifying problems and recommending solutions. The skills required for this job depend on one’s education and experience.
A reservoir engineer needs a bachelor’s degree in engineering, science, or mathematics. Those with a master’s degree in this field will be able to apply their education to more complex projects.
In addition to a bachelor’s degree, reservoir engineers are required to gain two years of hands-on experience. They must also have a professional license in their state. A reservoir engineer may work for an oil and gas company or a surveying firm.
A reservoir engineer’s salary will range from $65,500 to $130,500 a year. This is one of the highest paying jobs in the oil and gas industry. A reservoir engineer usually has a degree in petroleum engineering.
Additionally, a construction manager will be in charge of delivering the construction. This position will work closely with the project manager. They will also oversee the overall delivery of the construction project.
Sales representative
If you have a gift for gab, natural charm, and a desire to sell, you could become a sales representative. A sales representative’s salary is generally around $50,695 per year, but the exact amount can vary greatly.
A sales representative salary is also highly dependent on specialty and experience, so check with employers to find out what they pay for these positions. Here are some examples of jobs in this field.
Another high-paying job in the oil and gas industry is account manager. This job requires candidates to be very effective at closing sales. Account managers also have to understand the economics of the oil and gas industry and have excellent communication skills.
To be successful, account managers must be able to build and maintain relationships with clients, manage a team, and develop strong contacts. For a good start in the industry, consider applying for an associate’s degree.
Although the number of jobs in the oil and gas industry is decreasing, the compensation continues to be high. According to the U.S. Bureau of Labor Statistics, the top 10% of sales representatives earn $129,200 per year, more than twice the national median wage for nonfarm workers.
The industry requires highly-qualified individuals with excellent communication skills to thrive. Applicants should be patient and perseverant.
This position requires extensive training and experience. As a sales representative, you will have the opportunity to work for an integrated oil company.
Your base salary will be extremely high, and your earnings will grow from there through bonuses and commissions. You can even become a partner in a company if you wish. So, make sure to get in touch with companies today to find out more about this exciting career path.
Mechanical engineer
For people with a passion for oil and gas, a career as a mechanical engineer can be a very lucrative choice. While oil is often spurted from the ground, this type of drilling requires a high level of skill and scientific knowledge.
These engineers are responsible for finding the best locations and making sure that the drilling process goes smoothly. They will also help to supervise the operations of oil wells and make recommendations about the amount of oil that can be extracted.
A mechanical engineer is responsible for designing and developing equipment for oil companies. They may help to troubleshoot operations or even design new equipment for oil fields.
They will also be responsible for overseeing the deconstruction of oil drilling equipment to make sure that the site is free of debris and waste. Working long hours in oil fields is also a common part of their job description.
In addition to designing new equipment, mechanical engineers also make sure that the machinery is safe and functional.
The mechanical engineer’s job description will vary depending on the type of oil and gas industry. Their primary responsibilities will depend on their company’s needs and the projects they are assigned to.
They will spend a good amount of time studying mechanical devices, developing prototypes, troubleshooting problems, and carrying out repairs. A mechanical engineer may also work on conveyor systems, escalators, or any other piece of equipment that utilizes the use of mechanical components.
A mechanical engineer in the oil and gas industry will require a high level of education. It is crucial to earn an undergraduate degree in petroleum engineering in order to get a job in this industry.
During your undergraduate education, you will study fluid and rock behavior, reservoir engineering, and production operations. In addition to this, you will spend a lot of time in the labs, where you will practice simulations, drill simulators, and even measurement of gas reservoirs.
Energy economist
While the benefits of working in the energy sector are many, it also has its share of negatives. While the oil and gas industry offers a variety of career opportunities, the best-paying jobs are in the energy sector.
This industry will likely continue to thrive for decades, even though the use of fossil fuels will probably decrease. However, it is important to understand that there are plenty of opportunities for those with strong technical skills, including those in atmospheric sciences.
The energy industry has a huge impact on the economy, but its employment share is small. While it provides high wages, it is also capital-intensive. In Houston, energy-related jobs accounted for 16 percent of the city’s jobs.
The oil and gas industry is also faced with challenges in labor. The oil and gas industry has historically struggled with poor return on invested capital, and the collapse of demand in 2020 was catastrophic for U.S. producers.
The collapse in demand swollen global inventories to record levels, and the price of oil and gas fell dramatically.
A career in petroleum economics allows you to contribute to oil and gas policies, and assist with the development of new oil and gas fields. You will analyze the economics of the development and identify risks associated with it.
You’ll also be responsible for discussing the project with the key stakeholders, including the government, neighboring property owners, environmental organizations, financial institutions, and contractors.
An energy economist is the person behind the economic planning of oil and gas projects.
As more energy is produced, oil and gas companies must diversify their businesses into other areas. The oil and gas industry is one of the world’s largest industries. Oil rents provide 86% of the profits.
Oil companies have been aware for decades that the carbon emissions they emit are hazardous to the environment, and have taken steps to reduce emissions by as much as possible. But the oil industry has also made the problem worse by lowering production.
