Petroleum Engineer Salary in Madison, SD
How much does a petroleum engineer make in Madison? Explore median, entry-level, and senior salaries adjusted for Madison's cost of living.
Salary Breakdown by Experience Level
See how petroleum engineer salaries break down across different pay periods in Madison.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $41,255 | $67,699 | $92,558 |
| Monthly | $3,438 | $5,642 | $7,713 |
| Biweekly | $1,587 | $2,604 | $3,560 |
| Weekly | $793 | $1,302 | $1,780 |
| Hourly | $20 | $33 | $44 |
Madison vs National Average
How Madison's petroleum engineer salaries compare to national figures.
Cost of Living in Madison
About Petroleum Engineer
Overview
Design and develop oil and gas extraction and processing systems.
Education
Bachelor's degree in Petroleum Engineering; PE license recommended
Key Skills
Growth Rate
Expected job growth: +15% over the next decade
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Petroleum Engineer Salary in Madison, SD — Complete Guide
Median Salary Overview
The median salary for a petroleum engineer in Madison, SD is $67,699 per year, adjusted for the local cost of living index of 80. This figure reflects typical earnings for experienced professionals in this role, considering Madison's unique economic conditions.
Salary Range and Experience Levels
Entry-level petroleum engineer professionals in Madison can expect to earn around $41,255 annually. As professionals gain experience, salaries typically increase, with senior-level petroleum engineers earning approximately $92,558 per year. This represents a 124% increase from entry to senior level.
Cost of Living Adjustment
Madison's cost of living index of 80 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Madison are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $103,200, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a petroleum engineer's salary in Madison typically goes toward housing. With a 1-bedroom apartment averaging $660 per month, housing represents about 11.7% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Petroleum Engineers are in growing demand across the United States, with an expected job growth of 15% over the next decade. In Madison, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.