Petroleum Engineer Salary
A petroleum engineer's salary is determined by several factors, first and fore most is the degree of education. There are several levels of education for engineers, ranging from ordinary level degree holders to major degree holders and even masters and PhD holders. All these levels will contribute significantly towards the salary scale that an individual petroleum engineer is entitled to. In many cases the higher the degree level the higher the salary scale.
However there are other factors as well that would greatly influence the petroleum engineer's salary scale other than his educational achievements. These will include his experience, his achievements, the company's policy and the responsibilities that are given to the engineer. To get a clear picture, let's have a look at the above factors one by one.
An experienced engineer is certainly more expensive an asset in any organization. Engineering being a skill based type of applicable science will mature ad get better as an individual encounters several challenges that will expand his innovativeness as well as creativity? It is therefore automatic that the more experienced an engineer gets the more his productivity increases. He becomes more creative and understands the situations better. It is out of this realization that most companies be it in the petroleum sector or otherwise, always regards experience with high esteem. It is therefore not unusual to find an engineer with ordinary major earning more than a master's degree holder if he has more experience to his profile than the latter.
When we talk of experience as in the cases sighted above, it should not be misconstrued to mean that as long as an engineer has served for several years it should be automatic that he has more experience and hence he should earn more. There are always performance related rankings in such circumstances. Anew graduate may have the flare for creativity that may see his/her inventions come to the surface as successful within a short term is service. Such candidates must no doubt get their efforts' worth in terms of remuneration.
The company for which an engineer works will greatly determine hi/her remuneration, working for a small company that has a small market share may also automatically translate into a slightly lower salary. This is only natural since the company must generate the revenue before the engineer can be paid. If the company is to remain profitable and sustainable, then the pay should be commensurate to the sales or production.
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