Thursday, January 23, 2020

How much does a Petroleum Engineer earn?

If you find yourself making a decision as important as deciding which career to study, one of the aspects that you have to pay more attention to is the economic one. And it is not only about how much you can earn when you finally work on what you will study, but it will also help you analyze the cost-benefit relationship that said career will imply.
In Mexico there is an organization called “Mexican Institute for Competitiveness AC” (IMCO) that, among several functions, is responsible for evaluating different aspects of higher education. According to data from their latest studies (during the first quarter of 2016),
In addition to being the highest paid careers, an interesting aspect of extractive engineering is that the return on investment occurs almost immediately because, according to the IMCO study, in a matter of about 5 months working the graduates recover what they invested in your education It is also important to mention that, with respect to the “top 10” of higher paid careers, although careers whose graduates have very good salaries are represented, the percentage of young people who are trained in these areas is minimal. In the case of extraction engineering, only 0.2% of the professionals in the country are Engineers in this area!

The combination of this "little" university demand, and the importance of scientists and technical professionals for a developing country, is probably the source of high wages. In this sense, it would not be surprising that in the coming years the engineering related to the extraction of oil and other compounds "unseat" the first positions, due to the enormous business competition that the opening of markets entails after the Energy Reform.
On this issue, Edgar Rangel (National Hydrocarbons Commission) argued 3 in 2014: "It is a reality that in the next 10 years we will have to replace more than a 3rd. Part of all Pemex employees. Replace (these) professionals [ ...] it will be a much greater challenge to all technical challenges ". Under the same line Francisco Monaldi (Harvard), commented that “now that oil prices fall, the exploration and investment budgets of some companies will also fall, so the Mexican Reform will be the great opportunity for Latin American professionals in the next years" . In fact, this issue, and the fields of Petroleum Engineering, are discussed in another article .
As you can see, Petroleum Engineering is a great career option due to the urgency with which the country needs professionals in the field and this, in turn, makes it a very attractive and profitable professional option. With an average of more than $ 15,000 per month in low-ranking positions, and its "quick" return on investment, Petroleum Engineering (and petroleum and other compound engineering in general) can be a great solution for your future.
Know More:how much do engineers make

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