Nice Salary setup... (1 Viewer)

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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.
 
that is a nice salary. when does he become landbased?
 
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?
 
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.
 
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.
 
$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.
 
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.
 
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.
 
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.
 
$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.
 
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?
 
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.
 

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