What do Energy Jobs Pay? All You Need to know in Detail
What are Energy Jobs?
Energy is an ever-growing sector, providing numerous employment opportunities across various fields. These fields include Oil & gas, renewable energy and nuclear energy. But, what do energy job pay? we can say that energy jobs are the ones that are involved in the consumption, production, and distribution of energy resources. The demand for these jobs has increased significantly in recent years, owing to the global shift towards sustainable development and clean energy. These jobs are thus essential to keep society and the economy functioning, as energy is a fundamental resource for almost all human activities.
Energy jobs cover a broad spectrum of jobs, such as managing, producing and distributing different forms of energy, such as:
- Fossil fuels
- Nuclear Power
- Renewable energy sources
Now the next question that hits our minds is, where are these jobs found? So, the answer to that is that these jobs are found in various industries such as:
- Solar and wind energy
- Oil and gas
- Government agencies
The payouts of these energy jobs vary widely depending on the experience, job title, location and many other factors. However, they are highly paid jobs as they need highly-skilled workforce. In this blog, we will examine what energy jobs pay and what factors can influence those earnings.
Types of Energy Jobs
Following jobs fall under the umbrella of Energy jobs:
These jobs include jobs in natural gas, oil, and coal exploration, distribution, and production
These jobs have become the fastest-growing energy sector in recent years. Renewable jobs have become increasingly popular due to the growing demand for sustainable and clean energy sources. These jobs include geothermal, solar, hydropower, and wind industries.
These jobs include power generation, distribution, and transmission.
Government energy jobs include research institutions, public sector organizations and regulatory agencies.
The jobs that fall in this category are energy conservation and energy management.
The above-mentioned jobs are subdivided as:
Petroleum engineers are responsible for developing and designing methods for extracting oil and gas from underground reservoirs. According to the Bureau of Labor Statistics statistics, the median annual salary for petroleum engineers is around $137,720.
Wind Turbine Technicians
Wind turbine technicians are responsible for installing, maintaining, and repairing wind turbines that generate renewable energy. The median annual salary for wind turbine technicians is around $56,230.
Solar installers install and maintain solar panels and its related equipment. The median annual salary for solar installers is around $46,470.
Electrical engineers develop and design electrical systems for power generation, distribution, and transmission. The median annual salary for electrical engineers is around $103,390.
Nuclear engineers design and operate nuclear power plants and other facilities. Their median annual salary is around $117,090. In contrast, entry-level reactor operators can earn around $70,000 per year.
Energy traders buy and sell energy commodities. These include:
- Financial Markets,
Their median annual salary is around $102,560.
These are just a few examples of energy jobs. This industry has many more jobs, including operations, maintenance, research and development, and management.
Energy Jobs Pay
Energy jobs offer attractive salaries to candidates, as these are highly technical jobs. Thus, these salaries make them a popular career choice for many people. However, the pay scales may vary depending upon the industry sector, the type of job, location, and experience.
According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for energy jobs in May 2020 was around $83,090, which was way higher than the median salary for all occupations, i.e., $41,950.
Fossil Fuel Industry
|Job Title||Average Salary|
|Petroleum Engineers (who design and develop methods for extracting oil and gas from the earth)||$137,720|
|Geological and Petroleum Technicians||$53,300|
|Geoscientist (who study the physical aspects of the earth and its resources)||$94,040|
|Oil Rig workers (those who operate and maintain drilling equipment)||$25,20|
Renewable Energy Industry
|Job Title||Average Salary|
|Solar Photovoltaic Installers (those who install solar panels on roof and other structures)||$46,470|
|Wind Turbine Technicians (those who install, maintain, and repair wind turbines)||$56,230|
|Energy Auditors (who assess energy use and efficiency in businesses and homes)||$75,460|
|Job Title||Average Salary|
|Power Plant Distributors, operators, and dispatchers||$85,950|
|Electrical Power Line Installers and Repairers||$75,030|
|Electrical Engineers (who design and test electrical systems)||$101,250|
|Energy Traders (Who buy and sell energy commodities)||$87,560|
Government and Research Institutions
|Job Title||Average Salary|
|Environmental Scientist and specialist (The one who protects the environment and public health)||$73,230|
|Energy Policy Analysts (who research and analyze energy policy issues)||$77,760|
|Nuclear Engineers (who design and operate nuclear power plants)||$113,460|
Overall, the pays offered in the energy sector depend largely on the level of expertise, the field of employment, the location, and the technical education of the candidate. Renewable and nuclear energy jobs are more highly paid than traditional oil and gas jobs. It is also noteworthy that the pay in the energy sector is among the most substantial among all industries, with significantly higher pay scales than traditional private jobs.
Factors that Influence Energy Jobs’ Pay
Several factors that can influence the pay scale for energy jobs. These factors are chalked down below:
Education and Training
In general, energy jobs that demand higher education and training tend to pay more than those that do not. For instance, a petroleum engineer probably needs a bachelor’s degree in engineering or a related field. In contrast, a solar panel installer may only need a high school degree or an equivalent diploma. Therefore, their salary ranges vary accordingly.
Experience is another factor that matters a lot in energy jobs. Those who require more experience offer more benefits and higher salaries.
Geographic location also plays a vital role. Energy job pay varies depending upon the state and region where the job is located. For example, jobs in urban areas offer higher salaries than similar jobs in rural areas.
Job Title and Responsibilities
Job titles and responsibilities can also vary widely within the energy industry. For example, an entry-level oil and gas engineer earns less than a senior-level manager in a renewable energy company.
Company size and Reputation
Salary ranges for energy jobs can vary depending on the employer’s reputation and the company’s size. Larger established companies with strong brands and financial stability may offer higher salaries than small and medium enterprises (SMEs).
Demand for skills
Some energy jobs demand specialized experience or skills that are high in demand. Such as expertise in a particular technology or knowledge of specific regulations. The higher the demand for those skills, the higher the potential pay for the job.
Collective Bargaining Agreements
Unionized energy jobs tend to offer attractive benefits and higher salaries than non-unionized jobs due to collective bargaining agreements negotiated by the union and employer.
Economic conditions also leave an impact on energy jobs’ pay. Per se, companies may b more likely to reduce or freeze employees’ salaries to cut extra costs during an economic recession. While during economic growth periods, they may be more willing to offer an attractive salary and other perks to retain top talent.
Different energy sectors have varying wages and salaries.
In a nutshell, energy jobs pay may vary widely depending on the level of expertise, specific job role, location, and other factors. However, in general, energy jobs tend to pay well due to the job’s technical nature and the industry’s importance to the global economy. For more information of industry and energy must visit our media techstarlink.com