Can a Petroleum Engineer become "mega rich" ?

Scroll to see replies

Reply 20

gr8wizard10

Look into investment banking

Reply 21

Noble.

Original post by naxiv

Again
I think i'm talking to some dumb people on this thread. Have you even done research regarding PE?

Why exactly did you ask the question if you think you already know the answer?

Reply 22

naxiv

Are you in IB?

Original post by Abdul-Karim

Look into investment banking

Reply 23

0le

Original post by addylad

Oh really? Please do indulge me and elaborate. I think you'll find that my inference was correct, unlike yours.

You've made some very confident claims about salaries in engineering. Do you not read the stuff you write? If so, maybe you wouldn't post it.

Rather than rhetoric you could actually address my previous post. I suspect you might struggle though.

Posted from TSR Mobile

I've already explained in my posts how its more than possible to earn 100k in engineering. Your first post clearly implied that he shouldn't bother trying, which is rubbish. Now your just backtracking which is why I am not replying to your points. And yes, I can be confident about salaries. I've just been applying for jobs for the last year.

Original post by naxiv

Lol what do you know about the field of petrochemistry.
Petroleum engineers (if you don't know this is, google is your friend), earn £30-40,000/year excluding bonuses. So £40,000 is common.

Your other points are meaningless.

I've got an engineering degree and was applying for a year looking at a vast array of engineering jobs. By the sounds of it, you haven't even entered university yet. You're running before you can walk. I'm trying to give you advice.

Shell, 32.5k:
http://www.shell.co.uk/gbr/aboutshell/careers/students-and-graduates/uk-logistics-role.html

BP 33k
http://www.bp.com/en/global/corporate/careers/students-and-graduates/graduate-locations/united-kingdom-students-and-graduates/graduate-programmes.html

I don't really care for looking for more. You will probably find some exceptions. I'm not trying to hold you back. I'm just saying be realistic. All the higher end 35k+ jobs are more sought after too. I don't really care either way if 40k is common. Okay, if its common for your industry, that is great. But you'd probably look for a variety of engineering jobs when job hunting.

My last point, you've asked a question, I replied. Now you're in a position to say my answer is meaningless, even though you don't know the answer. How does that one work? I'll reiterate. You will more than likely only be on a 100k salary in engineering if you enter some managerial type role. You'll still be an engineer though, but just doing more leadership and administration than field work so to speak.

Original post by Noble.

Why exactly did you ask the question if you think you already know the answer?

this.

Reply 24

amongsttheweeds

Original post by djpailo

I advised him not to go into engineering, because it's hard to earn 100k. I didn't say, "don't try to earn lots of money". Rather than imagining what I wrote, and getting all defensive, you might want to stop projecting.

Ah of course. Someone lecturing me on salaries who has never had one, just seen them advertised.

Posted from TSR Mobile

Reply 25

0le

Original post by addylad

Don't go into engineering.

Posted from TSR Mobile

My last posts referred to your first post. Where is your advice in that? I'm not imagining anything. You clearly just told him, don't do engineering which is quite frankly, ridiculous.

EDIT:
Oh wait, sorry, you're still in university. So really, you weren't in any position to give more informative advice.

(edited 9 years ago)

Reply 26

gr8wizard10

Original post by naxiv

Are you in IB?

I'm a first year uni student, but I'm heading in that direction.

Reply 27

amongsttheweeds

Original post by djpailo

I do have a salary. But nice of you to claim I infer posts "incorrectly" and then for you to do exactly the same. Moron.

Yes, go on explain your situation. If you have a job, unless your in recruitment, what would you know about the current up to date salaries of engineering graduates? At least I explained my position. You talk a lot about rhetoric yet you've explained nothing about yourself so why should anyone listen to you? I'm not getting defensive. Just because I reply to a post and debate your ridiculous comments, doesn't make me defensive. Perhaps you should look up the word.

My last posts referred to your first post. Where is your advice in that? I'm not imagining anything. You clearly just told him, don't do engineering which is quite frankly, ridiculous.

EDIT:
Oh wait, sorry, you're still in university. So really, you weren't in any position to give more informative advice.

You clearly are defensive because you've resorted to name-calling.

You're still getting hung up on my first post and haven't considered anything since.

You're not very bright are you? I've been in industry for six years.

Posted from TSR Mobile

Reply 28

0le

Original post by addylad

You;ve been in industry for six years. Point exactly. You're currently in university and out of touch with any current salaries. But keep thinking you know what you're talking about. Being defensive by calling names? Now I've heard it all.

A moron is someone who is stupid. I would call someone stupid who says to others "they infer incorrect information about others" and then proceeds to do the same himself. That is hardly being defensive, its stating a fact about an individual, you.

I'm not getting hung up about your first post. You're not very bright either are you? I've made the same points now with new ones. Again, I'll continue the new points:

You've not shown any evidence to suggest you know anything about what your talking about to criticize my knowledge of recent salaries. You've been in a job for six years so what would you know about current salaries?

I love when people use the word "defensive" because they genuinely can't reply to the points being made.

EDIT: Because you seem to hellbent on your "points" in your second post, here you go:

Original post by addylad

You've managed to infer an awful lot from my posts that wasn't said, and then argue about it.

As I've responded to already, its a forum, if you don't clarify what you mean, people can infer things, exactly like you did, so pointing it out to me when you do it seems strange.

Original post by addylad

When did I say that engineers don't earn much? You are confusing 'not earning 100k' with 'below the bread line'.

You made one post. Anyone can infer anything from it because you didn't take any time to explain what you mean. I am perfectly entitled to assume you think people can't earn 100k from engineering if your response to someone asking how to do it is to say "don't do engineering". Bare in mind this is only your second post clarifying your first. If you don't want people inferring things about your posts, then take the time to reply responsibly.

Original post by addylad

100k after any period of time is a lot of money. Ignoring for one second that 25 years is a stupidly long way into the future for you to so confidently predict that petroleum engineers will be in high enough demand to pay those salaries, moving into management is very different to being an engineer. Are we talking about petroleum engineers, or people with petroleum engineering degrees?

Nothing wrong planning ahead. It isn't a question about demand. When they get into the company, if he so wishes, he could climb up the ladder through more managerial type roles. Being a manager in an engineering company isn't that different from being an engineer. A number of jobs I heard about (or discussed with others) were with indivduals who were being interviewed by managers with engineering degrees. Its not far fetched. My uncle is an example too, working in Shell.

Original post by addylad

And I never said there was anything wrong with wanting to earn lots of money. But not many people with that as their primary aim will last the course.

I know you never stated that, my post was a general comment and again, it needed to because of your very last sentence. How do you know why people join the course? I know an individual, for instance, his aim was to make lots of money, and he did Aero engineering. If anything, a lot of people do engineering and join the finance sector. That is indisputable really.

(edited 9 years ago)

Reply 29

Zenarthra

Original post by naxiv

Talking about + £100,000 /year by 25 yrs
Having a big house etc etc

Is this possible

So you want to be mega rich huh?
First define rich? Next define MEGA rich.
Next, learn about tax laws.
To MAKE 100k in the uk, you would need to be earning 250k+ a year minus all expenses.
The truth about Engineering is you're very unlikely to become a multi-millionaire.
Because even if you wanted to invent something, the startup capital for that project will be too high.

(edited 9 years ago)

Reply 30

Zenarthra

Original post by Abdul-Karim

I'm a first year uni student, but I'm heading in that direction.

I hope you didn't plan to do an Engineering discipline just to get into IB. That was not a wise choice.
All Engineers are going into IB because their field does not pay enough.
What is your reason for wanting to go into IB?

Reply 31

naxiv

So if i earn £35,000 in year 1, how much will i take home?

Original post by Zenarthra

Reply 32

gr8wizard10

Original post by Zenarthra

What is your reason for wanting to go into IB?

Money and interest.

Reply 33

naxiv

Whats your problem is someone is aspairing to make mega money?

Original post by Zenarthra

Reply 34

Zenarthra

Original post by Abdul-Karim

Money and interest.

Ahh right cool, what Engineering discipline did you study?

(edited 9 years ago)

Reply 35

Zenarthra

Original post by naxiv

So if i earn £35,000 in year 1, how much will i take home?

Well i have a family member who earns around that much, he only makes 9k a year.
Tells me all the time, a job at Tesco is equivalent to what he makes.
But he is just in it for learning things and experience.

Reply 36

naxiv

What?

Original post by Zenarthra

Reply 37

Zenarthra

Original post by naxiv

What?

YES you heard right 9k a year.
His bank account increases by 9k annually.
Tax, Rent, Car, Living Expenses etc is not cheap, depending on your location aswell.

Reply 38

naxiv

True
But im not sure that £35,000 (£40,000 inc bonuses) will decrease all the way to £9,000

Original post by Zenarthra

YES you heard right 9k a year.
His bank account increases by 9k annually.
Tax, Rent, Car, Living Expenses etc is not cheap, depending on your location aswell.