Nice Salary setup... (1 Viewer)

iron error

Guest
Joined
Aug 31, 2003
Messages
3,051
Reaction score
565
Offline
Talking to a guy I know about his son graduating UT Austin in Petroleum Engineering this May.

Starting at $87,000 year one. Must spend first two years offshore 20 days a month and then landbased.
Year 4 guaranteed at $140,000 per year. Equal increment raises year 2 and 3 to get to the year 4 number.

Wow.
Picked the wrong engineering field I guess.
 

Dre

More than 15K posts served!
VIP Contributor
Joined
Nov 18, 2000
Messages
16,765
Reaction score
4,951
Age
41
Online
that is a nice salary. when does he become landbased?
 

diat150

Guest
VIP Contributor
Joined
Mar 16, 2002
Messages
21,895
Reaction score
3,556
Location
Opelousas, LA
Offline
Talking to a guy I know about his son graduating UT Austin in Petroleum Engineering this May.

Starting at $87,000 year one. Must spend first two years offshore 20 days a month and then landbased.
Year 4 guaranteed at $140,000 per year. Equal increment raises year 2 and 3 to get to the year 4 number.

Wow.
Picked the wrong engineering field I guess.

year 1 and 2 are going to suck. thats 240 days of the year offshore, or basically 2/3rds gone. once you break it down that isnt that great for years 1 and 2, but if he actually gets into the office making 140k in year 4 and not having to go offshore he will be rolling. what company is this?
 
OP
iron error

iron error

Guest
Joined
Aug 31, 2003
Messages
3,051
Reaction score
565
Offline
I think he said Weatherford or something like that? Its a drilling company that subs to the big guys. Apparantly you get in the field to see and hear it, and then go to land for the rest of your days because everything is computerized now.
 

poonami

yep
Joined
Mar 14, 2006
Messages
823
Reaction score
73
Location
Denver
Offline
I work for Weatherford and someone has horribly mislead your friend's son.

His salary will be around 26k a year and all his money will be made by a dayrate which is going into the field which is offshore and land. He will not make 140k in the office if he gets into the office.

He can make 140k in the field his second year if he works a lot which translates to no life. An office job, which are few and far between will pay around half of that.

We haven't had a raise in a year and a half. Weatherford seems to think it is cheaper to hire new employees than pay the ones they have. We will get another raise maybe when 2-3 people quit to get better pay with someone else.

He will not have a schedule, so making plans of any type will require taking vacation. I am not joking. He may work 30 days one month then sit home for two months. When you aren't working that 26k a year salary really stings. Hard to live on that after uncle sam gets his.

If you really want to know what he is about to get himself into, send me a pm and I will fill you in all the details and he can decide if this is for him or not.

Apparently who ever does the recruiting now is a liar or has been lied to.

A lot of the new hires recently have had a pretty harsh reality check.
 

SeminoleMarine

Rebel Alliance
Joined
Sep 13, 2001
Messages
9,524
Reaction score
1,098
Offline
$26,000 for a Petroleum Engineer? How do you all have anyone working there? We have phone receptionists here at my job that pays more than that.
 

Chopzley

Subscribing Member
VIP Subscribing Member
Joined
Mar 11, 2005
Messages
1,646
Reaction score
396
Location
Phriskeaux, TX
Offline
My cousin just graduated from LSU with a Petr. Eng. degree. Started out at 87k a year for Exxon or Chevron, in Houston, in an office.
 

Furryankee

ALL-MADDEN TEAM
Gold VIP Contributor
Joined
Sep 5, 2001
Messages
1,717
Reaction score
104
Offline
I wish him the best and I hope he didn't get lied to too much. Of course, if it turns out to be $ 87k to sacrifice a couple years of his life, he's young and it's worth taking a risk. It's a better financial deal than our kids in Iraq right now. If young and single, he may not need much of a life for a couple of years if he gets the valuable experience.
 

TDH

I Want to Believe
Joined
Feb 16, 2007
Messages
1,878
Reaction score
4
Location
Jennings, La.
Offline
You have to wonder if he'll still have a job in 20 or so years?
 

thewyrm

Guest
Joined
Nov 6, 1997
Messages
2,383
Reaction score
14
Age
41
Location
the Arctic Ocean
Offline
You have to wonder if he'll still have a job in 20 or so years?

You realize petroleum is used in almost everything we buy these days right? Even if we decided tommorow to change to electric cars, the oil industry is going nowhere.
 

poonami

yep
Joined
Mar 14, 2006
Messages
823
Reaction score
73
Location
Denver
Offline
$26,000 for a Petroleum Engineer? How do you all have anyone working there? We have phone receptionists here at my job that pays more than that.

With our day rate pay most guys make around 120k, their second year. Usually make around 90k their first.
 

TDH

I Want to Believe
Joined
Feb 16, 2007
Messages
1,878
Reaction score
4
Location
Jennings, La.
Offline
You realize petroleum is used in almost everything we buy these days right? Even if we decided tommorow to change to electric cars, the oil industry is going nowhere.

What I'm wondering is will there be enough oil left to be pumped out of the ground in twenty years to support all these petroleum engineers?
 

SeminoleMarine

Rebel Alliance
Joined
Sep 13, 2001
Messages
9,524
Reaction score
1,098
Offline
With our day rate pay most guys make around 120k, their second year. Usually make around 90k their first.

That sounds like what the OP said. You said he could expect $26,000. I am confused now.
 

gaminerie

...if you like saxophones
Joined
Aug 13, 2002
Messages
14,502
Reaction score
1,156
Age
46
Location
Slidell, LA
Offline
You realize petroleum is used in almost everything we buy these days right? Even if we decided tommorow to change to electric cars, the oil industry is going nowhere.

This does not mean oil industry jobs don't change and shift as the winds blow. My mother was a geologist for Chevron for 18 years. One fine Thursday, they told her and a number of other employees to pack a box and get out.

"Chevron: People Do" was a laugh-out-loud joke in our house for a couple years after that.

No, Chevron's not going anywhere. but their people do.

We did know lots of oil-service people who were happier working oil-service companies (Schlumberger, Fairfield) than they were working for the bigger meat-grinders like Chevron or Exxon.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Users who are viewing this thread

 

New Orleans Saints Twitter Feed

 

Headlines

Top Bottom