Minerals, Metals, oil, natural gas, and other resources are hidden deep inside the Earth’s crust. Engineers in the fields of mining, geology, and mining safety all have a role in the discovery and extraction of those resources.
The highest-paying mining and geological engineering roles may earn up to $160,000 a year, while the lowest-paying ones can earn as little as $50,000.
Mining engineering or geological engineering, with a concentration on topics such as geological science, mine design, mineral identification, and geological and engineering field methods, is required for a high-paying position in this profession.
A Significant Wage Gap in a Tiny Engineering Profession
Exactly how much mining and geological engineers make is a tricky topic. It may appear straightforward at first glance.
The BLS (U.S. Bureau of Labor Statistics) stated that the median salary for this job was $94,240. Engineers make an average of $92,220 per year, a slight rise over the $37,690 per year average for all jobs.
Even yet, it’s important to keep in mind that median pay only conveys half of the picture. There is a large variety of compensation options in this profession, thus the median is the amount that falls in the middle of that range.
According to the Bureau of Labor Statistics, the lowest-paid mining and geological engineers make less than $54,700 a year.
Top earners took home more than $160,320 each year. As a result, there is a significant wage gap of $106,230 between the highest and lowest-paying employment in the same industry.
Because there are only 8,200 mining and geological engineers employed in the United States, this six-figure salary is all the more remarkable.
Highest Paying Sectors for Mining and Geological Engineers
Engineers who work in the mining and geological fields may expect to make a good living in large part because of their professions.
A median salary of $122,030 was earned by oil and gas extraction engineers, the industry that employed the greatest number of engineers in this sector.
Only 8% of mining and geological engineers who work for the federal government make more than $100,000 a year, according to the BLS.
Engineering services, which employ more than a quarter of all workers in the field, pay an average of $92,460 per year in wages.
In the mining industry, the median pay for metal ore mining and coal mining are $91,900 and $83,820, respectively. Employing fewer mining and geological engineers generally results in higher salaries.
Just 0.43% of the oil and gas extraction industry’s 580 workers are mining and geological engineers, which is more closely associated with petroleum engineering. Nevertheless, the BLS found that these 580 people earn an average salary of 142,470.
Even though they only make up 0.03% of the business, the 160 mining and geological engineers who work in scientific research and development services earn an average annual compensation of $121,280.
Mining and geological engineers make up less than 0.02% of management staff, yet they earn an average annual salary of $118,270, making them among the highest-paid in their field.
Just 0.15 percent of the people employed in mining-related support activities will earn a yearly wage of $112,600 on average.
Mining and geological engineers in employment services make an average wage of $107,470, with metal ore mining and oil and gas extraction each accounting for 12 percent of the workforce. Coal mining employs nine percent, while the government employs eight percent.
Getting Ready for a Career in Mining and Geological Engineering
Even if you’re aiming for one of the highest-paying positions in mining or geological engineering, acquiring a bachelor’s degree is only the first step in your professional preparation.
The amount of knowledge and expertise required is likewise rather substantial. Obtaining your Professional Engineering (PE) license may also be a requirement for moving up the ranks in the engineering industry.
Mining and geological engineering programs are ABET-accredited, however, there are just a few schools of engineering that offer these degrees, according to the Bureau of Labor Statistics (BLS).