The average annual salaries for petroleum engineers in the state of New Mexico are shown in Table 1. The comparison of the salary statistics of petroleum engineers among New Mexico metropolitan areas is shown in Table 2. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile bracket | Average annual salary |
|---|---|
| 10th Percentile Wage | $65,200 |
| 25th Percentile Wage | $91,580 |
| 50th Percentile Wage | $126,200 |
| 75th Percentile Wage | $159,850 |
| 90th Percentile Wage | $238,260 |
Table 1 shows the average annual salary for petroleum engineers in New Mexico in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $238,260. The median (50th percentile) annual salary is $126,200. The average annual salary for the bottom 10 percent is $65,200.
The table and chart below show the trend of the median salary of petroleum engineers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $126,200 | 18.75% | 32.08% |
| 2021 | $102,540 | 7.75% | - |
| 2020 | $94,590 | 9.54% | - |
| 2017 | $85,570 | -3.28% | - |
| 2016 | $88,380 | 7.41% | - |
| 2015 | $81,830 | 13.45% | - |
| 2014 | $70,820 | -11.83% | - |
| 2013 | $79,200 | -8.22% | - |
| 2012 | $85,710 | - | - |
Table 3 shows the median annual salary of petroleum engineers in some New Mexico cities and metropolitan areas. We note that the median annual salary of petroleum engineers in state of New Mexico ranges from $83,250 to $126,230. The highest paying area for petroleum engineers in New Mexico is Eastern New Mexico nonmetropolitan area with a median annual salary of $126,230. The second highest paying city/area in New Mexico State is Farmington (mean annual salary $103,170). The lowest paying area is Eastern New Mexico nonmetropolitan area with a median annual salary of $83,250.
| Cities/Areas | Median Annual Salary |
|---|---|
| Eastern New Mexico nonmetropolitan area | |
| Farmington | |
| Eastern New Mexico nonmetropolitan area |