How much of a pay cut could I expect if I had to leave the o&g industry? I don't think any other industries have 9/80, do they? Example, if I made $100,000 in o&g, what is realistic in the real world?
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I have been through downturns and layoff twice already and it was not easy. Always had to dig into my 401k to pay the bills.
Have been considering leaving O&G as well but that is not easy for a Petroleum Engineer. We are just too specialized. Much easier for Mechanical, Chemical and Civil Engineers.
You are not going to make the kind of money you are making now for sure.
Health care is the place to be in Houston.
The renewable energy industry is hiring as fast as it can. I'm making more than I did at chevron, but also working much harder. I have a more flexible schedule, less face time, but more overall time. More action oriented, faster pace, less naval gazing.
PS.. Bio-Tech is very competitive salary.. Mid Management goes from 90K to 140K often times with bonuses in the 20-40K range.. .with full benefits, stock options, and stock grants... hope this helps
I left CVX in 2003 after 31 years.. I packaged out... and went to work in Bio-Technology... Another CVX friend of mine, who used to work in Oak Point LA, also went to work in Bio-Tech as a maintenance supervisor. Bio-Tech seems to LOVE the engineering and operations experience.. check it out.
Good for you. Way to go.
Anyone in the MCP world (other than D&C) needs to be looking at the utilities industry in the south east US. Many new power plants coming through the pipeline and the owners are not staffed to manage these large (for them) projects.
I'm 58 years old and have a degree and over 23 years in the O&G business. I find it a bit difficult to get an interview with anyone I applied with. I'm starting to focus my attention on looking for a job in a completely different industry. I am modifying my resume to be more adaptable to a general spectrum of opportunities that aren't so focused on Oil & Gas. A change to another industry may be the breath of fresh air I need.
also forgot to mention... if your first concern is 9/80's..... it will likely be an uphill battle for getting onto your next oilfield gig in this environment..... I would not focus on this in the next interview.... inquire to HR.... but prob not the best focus area in these times. GL .
Well I agree the future is bleak for oil price....... due in part (large part) to sig domestic production.......... and the idea of sig sustained production..... so what do you need to sustain production? prod eng, field hands, comp/wo eng's........ you get the idea. Just because oil price has dropped and CVX has shi# the bed wrt to layoffs and over cap on betting on swing for the fence projects and fail to deliver.... does not mean all is over. ...... take a deep breath, update the resume, reach out to contacts..... and you might have to be ready to move, co's, states, etc... or go to svc side, but there will cont to be jobs for people who can show they add value and fit into a LEAN (low cost/high output) environment...... there will also be some priv eq money flowing in... and a select few will get the opp to p/u distressed prop, and re-process it hopefully through a more efficient meat grinder.... Also if you are young... the 1985/86 dive did not last forever..... it eventually came back....... there is grad school..... reg work...... etc.....
GL ALL>
If you are an engineer and it is not specific to oil and gas your pay will stay the same. You actually have to work though :-). I left Chevron because of the low expectations and the box the painted you into. I heard from friend that you all were laying off large numbers. I can say this, If you are a long term Chevron employee you will have problems in a new role outside of Chevron. RESULTS RESULTS RESULTS. That is what drives performance.
The future not so bright for 50-something ES's. Environmental/regulatory/groundwater industry pay about half of CVX salary structure. Mining at a virtual standstill or in decline. Other O & G opportunities? Non-existent for the foreseeable future. Got a PhD? If you have 6 or more peer-reviewed journal publications that are fresh you might get interviewed at a satelite campus of some state university where faculty are typically aligned with anti-oil movement and starting salaries are around $45,000 if lucky. USGS essentially same situation as academia. BOEM? Well they had one opening when I looked a couple weeks ago. Future probably going to involve non-ES & no six-fig compensation. The best part? You will be flagged "over-qualified" or "under-qualified" for jobs outside your prior career track. Best option. Tell Walmart you are retired, take the part-time greeter slot, teach a class at local community college for equivalent of $5/hr, volunteer your time somewhere & wait for market conditions to improve if that path is financially feasible.
I know a few ex Chevron emps that have moved on to utility and medical fields.
That doesn't sound nearly as dismal as I expected. Thanks! 😊
A lot of companies take every Friday afternoon off so I think you'll find a flex schedule.
Engineering and utilities generally have 9/80s. Base pay will probably be similar or even a bit higher but the benefits package won't be as good.