The Highest-Paying Jobs within the Oil & Gasoline Business

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The oil and fuel business has seen a substantial amount of volatility in the course of the COVID-19 pandemic. A collapse in demand originally of the pandemic in 2020 despatched oil and fuel costs tumbling to historic lows.

Extra lately, provide has struggled to catch as much as demand, main to cost will increase within the power sector which can be driving important inflation.

Amidst these speedy modifications, the business faces challenges with labor. The pandemic has underscored the customarily cyclical nature of employment within the business. Current circumstances have solely accelerated speedy modifications and volatility seen within the business over the past twenty years, situations which can be making it more durable to draw and retain workers.

One of many main tendencies within the business in recent times has been a divergence between rising productiveness and decrease employment. New methods like hydraulic fracturing and horizontal drilling emerged across the flip of the century, which has made it simpler to extract oil and fuel from shale deposits.

This led to a increase in oil and fuel manufacturing starting within the mid-2000s, however a glut of provide finally triggered a collapse in costs that introduced many firms to put off workers. Employment within the business declined sharply from 2014 to 2016, and complete employment has remained at decrease ranges ever since.

decline in oil and gas extraction employment

Lowered employment within the oil and fuel business could proceed for different causes as properly. Renewable power sources like wind and photo voltaic are poised for continued development within the coming a long time because of technological enhancements which have made them extra inexpensive and viable as a substitute for fossil fuels.

The bettering economics of renewables, together with continued efforts to restrict carbon emissions from policymakers, may result in a continued decline in employment within the oil and fuel business.

Whereas job alternatives within the business could also be on the decline, those that do work in oil and fuel proceed to take pleasure in robust compensation.

The sphere provides a few of the highest median wages of any business, with a typical employee incomes $80,710 per yr. This complete is almost double the general median wage for nonfarm employees within the U.S., which was $41,950 per yr in 2020.

top paying US industries

A lot of components contribute to the sector’s excessive compensation ranges. Before everything, the business is massive and worthwhile, which permits firms to compensate their workers extra extremely.

Which means that oil and fuel firms will be aggressive with different industries when attracting professionals with beneficial ability units like administration, finance, or regulation.

Even guide labor within the discipline is remarkably well-paid in comparison with different industries, partially to draw potential employees regardless of tough working situations and potential security dangers.

Additional, many positions within the oil and fuel business require specialised experience in fields like engineering, geology, and mineralogy and pay properly to draw employees with that information.


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The information used on this evaluation is from the U.S. Bureau of Labor Statistics. To establish the best-paying jobs within the oil and fuel business, researchers at Commodity.com checked out occupational statistics for jobs within the “Oil and Gasoline Extraction” subsector.

Occupations had been sorted based mostly on their median annual wage. Researchers additionally in contrast every occupation’s median annual wage within the oil and fuel business with its median annual wage throughout all industries.

Solely occupations with employment and wage information for 2020 had been included within the evaluation.

Listed here are the highest-paying jobs within the oil and fuel business.

The 15 Greatest-Paying Oil & Gasoline Jobs

Mining and Geological Engineers

15. Mining and Geological Engineers

  • Median annual wage within the oil & fuel sector: $138,380
  • Median annual wage throughout all sectors: $93,800
  • Oil & fuel distinction: +47.5%
  • Whole employment within the oil & fuel sector: 260
  • Whole employment throughout all sectors: 6,270

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General and Operations Managers
Photograph Credit score: sirtravelalot / Shutterstock

14. Common and Operations Managers

  • Median annual wage within the oil & fuel sector: $138,790
  • Median annual wage throughout all sectors: $103,650
  • Oil & fuel distinction: +33.9%
  • Whole employment within the oil & fuel sector: 3,930
  • Whole employment throughout all sectors: 2,347,420
Industrial Production Managers
Photograph Credit score: Fh Photograph / Shutterstock

13. Industrial Manufacturing Managers

  • Median annual wage within the oil & fuel sector: $139,080
  • Median annual wage throughout all sectors: $108,790
  • Oil & fuel distinction: +27.8%
  • Whole employment within the oil & fuel sector: 740
  • Whole employment throughout all sectors: 179,570
Chemical Engineers
Photograph Credit score: bogdanhoda / Shutterstock

12. Chemical Engineers

  • Median annual wage within the oil & fuel sector: $139,260
  • Median annual wage throughout all sectors: $108,540
  • Oil & fuel distinction: +28.3%
  • Whole employment within the oil & fuel sector: 490
  • Whole employment throughout all sectors: 25,770
Training and Development Managers
Photograph Credit score: SeventyFour / Shutterstock

11. Coaching and Improvement Managers

  • Median annual wage within the oil & fuel sector: $143,020
  • Median annual wage throughout all sectors: $115,640
  • Oil & fuel distinction: +23.7%
  • Whole employment within the oil & fuel sector: 40
  • Whole employment throughout all sectors: 38,710
Natural Sciences Managers
Photograph Credit score: SeventyFour / Shutterstock

10. Pure Sciences Managers

  • Median annual wage within the oil & fuel sector: $148,780
  • Median annual wage throughout all sectors: $137,940
  • Oil & fuel distinction: +7.9%
  • Whole employment within the oil & fuel sector: 230
  • Whole employment throughout all sectors: 75,870
Public Relations and Fundraising Managers
Photograph Credit score: fizkes / Shutterstock

9. Public Relations and Fundraising Managers

  • Median annual wage within the oil & fuel sector: $150,370
  • Median annual wage throughout all sectors: $118,430
  • Oil & fuel distinction: +27.0%
  • Whole employment within the oil & fuel sector: 80
  • Whole employment throughout all sectors: 81,110
Sales Managers
Photograph Credit score: fizkes / Shutterstock

8. Gross sales Managers

  • Median annual wage within the oil & fuel sector: $151,420
  • Median annual wage throughout all sectors: $132,290
  • Oil & fuel distinction: +14.5%
  • Whole employment within the oil & fuel sector: 150
  • Whole employment throughout all sectors: 390,170
Geoscientists
Photograph Credit score: Adwo / Shutterstock

7. Geoscientists

  • Median annual wage within the oil & fuel sector: $153,740
  • Median annual wage throughout all sectors: $93,580
  • Oil & fuel distinction: +64.3%
  • Whole employment within the oil & fuel sector: 2,780
  • Whole employment throughout all sectors: 27,890
Computer and Information Systems Managers
Photograph Credit score: SFIO CRACHO / Shutterstock

6. Laptop and Info Techniques Managers

  • Median annual wage within the oil & fuel sector: $153,790
  • Median annual wage throughout all sectors: $151,150
  • Oil & fuel distinction: +1.7%
  • Whole employment within the oil & fuel sector: 800
  • Whole employment throughout all sectors: 457,290
Financial Managers
Photograph Credit score: MIND AND I / Shutterstock

5. Monetary Managers

  • Median annual wage within the oil & fuel sector: $155,040
  • Median annual wage throughout all sectors: $134,180
  • Oil & fuel distinction: +15.5%
  • Whole employment within the oil & fuel sector: 1,590
  • Whole employment throughout all sectors: 653,080

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Marketing Managers
Photograph Credit score: fizkes / Shutterstock

4. Advertising and marketing Managers

  • Median annual wage within the oil & fuel sector: $166,860
  • Median annual wage throughout all sectors: $142,170
  • Oil & fuel distinction: +17.4%
  • Whole employment within the oil & fuel sector: 420
  • Whole employment throughout all sectors: 270,200
Lawyers
Photograph Credit score: Flamingo Photos / Shutterstock

3. Attorneys

  • Median annual wage within the oil & fuel sector: $176,650
  • Median annual wage throughout all sectors: $126,930
  • Oil & fuel distinction: +39.2%
  • Whole employment within the oil & fuel sector: 500
  • Whole employment throughout all sectors: 658,120
Architectural and Engineering Managers
Photograph Credit score: Aleksandar Malivuk / Shutterstock

2. Architectural and Engineering Managers

  • Median annual wage within the oil & fuel sector: $191,120
  • Median annual wage throughout all sectors: $149,530
  • Oil & fuel distinction: +27.8%
  • Whole employment within the oil & fuel sector: 1,590
  • Whole employment throughout all sectors: 195,900
Chief Executives
Photograph Credit score: YAKOBCHUK VIACHESLAV / Shutterstock

1. Chief Executives

  • Median annual wage within the oil & fuel sector: >$208,000
  • Median annual wage throughout all sectors: $185,950
  • Oil & fuel distinction: N/A
  • Whole employment within the oil & fuel sector: 270
  • Whole employment throughout all sectors: 202,360

Methodology & Detailed Findings

The information used on this evaluation is from the U.S. Bureau of Labor Statistics 2020 Occupational Employment and Wage Statistics (OEWS) database.

To establish the best-paying jobs within the oil and fuel business, researchers checked out occupational statistics for jobs within the “Oil and Gasoline Extraction” subsector.

Occupations had been sorted based mostly on their median annual wage. Researchers additionally in contrast every occupation’s median annual wage within the oil and fuel business with its median annual wage throughout all industries.

Solely occupations with employment and wage information for 2020 had been included within the evaluation.



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