Develop methods to extract oil and gas from below the Earth's surface. Median salary in Chicago: $160K/year. Data from BLS, O*NET, and H-1B disclosures.
Figures represent annual base salary in Chicago, Illinois. Reviewed by SalaryOptics Editorial · How we calculate this →
Analysis derived from the salary, COL, tax, and labor-market figures above — specific to this role and city.
Petroleum Engineers in Chicago earn approximately 10% higher than the US national median for this role — a $15,000 premium on annual base salary. This reflects Chicago's position as a higher-cost labor market where employers must match local wage norms.
Adjusted for Chicago's cost-of-living index (107), the median Petroleum Engineer salary buys the equivalent of $149,533 in a US-average-cost city. That's $4,533 more purchasing power than the national median — a meaningful real-wage advantage.
Only 15% of Petroleum Engineer positions offer remote flexibility, meaning the Chicago salary above represents what local employers actually pay — not a remote-anywhere rate. Geographic constraints reinforce the local market, so the salary range above is more directly applicable than for remote-friendly roles.
Based on BLS 2022–2032 Employment Projections and WEF Future of Jobs Report 2026. At current growth rates, median salary reaches $168K by 2030.
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The median Petroleum Engineer salary in Chicago, IL is $160,000 per year as of Q1 2026. This figure represents the midpoint of all reported compensation for this role in the Chicago–IL metropolitan area, based on data from the Bureau of Labor Statistics Occupational Employment Statistics, H-1B visa disclosures from the Department of Labor, and O*NET occupational data.
Entry-level Petroleum Engineers in Chicago with 0–2 years of experience typically earn between $121,000 and $160,000 annually. Mid-career professionals with 3–7 years command $160,000 to $207,000, while senior-level practitioners with 8+ years of experience regularly earn $207,000 to $264,000 or more.
Chicago has a cost of living index of 107 compared to the US national average of 100. Living costs in Chicago are close to the national average. Illinois has a 4.95% state income tax rate.
Bachelor's in Petroleum Engineering. 15% of these roles offer some remote flexibility.