As of May 18, 2021, the average salary for a Reservoir Engineer V in New Mexico is $243,704 per year, which breaks down to an hourly rate of $117.
However, a Reservoir Engineer V's salary can vary significantly. Here’s a look at the typical salary range:
Compensation Planning
Develop a Job Description
Pay Equity
2025 Compensation Trend
Smart Recruiting
Recruit with AI
A Reservoir Engineer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Reservoir Engineer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Reservoir Engineer III | 4-7 years | $167,417 |
| Reservoir Engineer IV | 7+ years | $211,766 |
| Reservoir Engineer V | 7-10 years | $243,704 |
| Reservoir Engineer VI | 10-12 years | $269,403 |
| Reservoir Engineering Manager | 12+ years | $220,001 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Reservoir Engineer Vs. For example, consider the average annual salaries in these key locations:
Understanding how a Reservoir Engineer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on May 18, 2021Promotions are the fastest way to increase your earnings. As a Reservoir Engineer V, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Drilling Engineering Manager | $167,326 | -31% |
| Reservoir Engineer VI | $269,403 | 11% |
Ready to take the next step in your career? Browse thousands of current Reservoir Engineer V job openings on our job board. Use the search bar below to find your perfect match.
Get a Salary Increase
Analyze the market and your qualifications to negotiate your salary with confidence.
Search Job Openings
Search thousands of open positions to find your next opportunity.
Adjust Employee Salary
Individualize employee pay based on unique job requirements and personal qualifications.
Price My Industry Jobs
Get the latest market price for benchmark jobs and jobs in your industry.
Use Salary.com's Cost of Living Calculator to find out what income you need to maintain your standard of living in a different city and how much more or less money you need to budget for basic expenses.
Explore Cost of Living CalculatorSalary.com experts will help you thrive your workplaces.
Salary.com provides salary survey data for thousands of industry Jobs.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Salary.com's CompAnalyst platform offers:
