How Much Do Energy Jobs Pay?

You have probably thought about transitioning to the energy sector and so the question that seems to boggle your mind which you have probably pondered is, “how much do energy jobs pay?”

Having a basic understanding of the business’s basic financial structure is ideal whether you’re looking to start a private company in the energy sector or to get a job in any of the industries.

How Much Energy Jobs Pay

You could say that positions in the energy sector are a true gold mine because they pay so highly. For instance, the American Energy and Employment Report on Wages states that the energy sector pays 25.60% to  34% more than the median US wage and that all energy-related sectors pay significantly more than the average American wage of $19 per hour, with nuclear energy being the most lucrative of these.

According to ZipRecruiter’s survey of jobs in the energy sector in November 2022, the average energy job in America pays $34.28 per hour and $71,310 per year. Energy jobs generate a median wage of between $146,360 to $71,336 annually in Nigeria and other third-world nations, which is obviously a highly desired salary to earn.

But this takes into account your level of energy knowledge and the sector of the energy industry. What precisely are you bringing to the table and what table do you specifically want to seat at? While sectors like oil and gas, petroleum, and coal are profitable and continue to pay their employees well, renewable and green energies like wind, hydropower, and solar look to be the future in terms of how safe and lucrative the energy industry will get.

Let’s have a look at the typical salary from energy jobs throughout the various energy industry sectors. It should be noted that there are several combinations of job kinds within each business and that each industry’s salaries are based on these job types.

Oil and Gas

Because so many things in the world will continue to run and be powered by fossil fuels, the oil and gas industry will always be profitable. However, the US Bureau of Labour Statistics predicts a 22.9 job growth by 2030 for the Oil and Gas industry while other renewable energies are estimated to be on the higher side of more than a 50-60% rise.

Despite the fact that oil and gas occupations currently pay significantly higher incomes than any other area of the energy industry, the industry is characterized by a cyclical boom and bust that causes it to employ or fire thousands of people every season.

Therefore, despite being extremely rich, the industry is often unstable and offers little to no job security. So the oil and gas sector is where you should pitch your tent if your goal isn’t to make a long-term investment in the energy industry but rather to profit as much as you can from it now.

Coal Mining

The compensation for this position in the energy industry is by far the lowest and has been declining for a while. Its collapse in 2011 resulted in the loss of more than 48,000 jobs, giving it a decrease percentage rate of 54%, and it doesn’t appear that it will ever recover.

Renewable Energies

Given that the extraction and consumption of fossil fuels are dropping while the use of renewable energies like solar and wind is on the increase, this shows that this sector of the energy industry is definitely the future. Even though they don’t pay as well as oil and gas, renewable energy rivals the industry in many ways, and it is clear that there will be a better position for these alternatives in the future.

The US Bureau of Labour Statistics predicts that by 2030, jobs related to renewable energies like wind and solar would increase significantly, by 68% and 52%, respectively. This indicates that although Solar Energy today looks to be dominating the renewable energy landscape, Wind Energy will overtake it in the very near future. This makes renewal energy the most reliable and safe choice when deciding where to set up a nest in the energy industry if you want to focus on the long term.

Final Thoughts on How Much Energy Jobs Pay

Whether you want to pursue a career in the energy sector by finding employment in any of the industries or you want to start up a company in the energy business, the answer to the question “how much do energy jobs pay?” remains that it is very profitable and significantly higher than the median wages in various countries around the world. However, as a salary earner, your wages would depend on your qualifications, experience, and competence as well as the job description in any of the industries.