Petroleum Engineering Degree in Memphis, TN — Salary & ROI 2026
Petroleum Engineering degree analysis for Memphis, TN. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.
Starting Salary
$47K
COL-adjusted
Mid-Career
$130K
COL-adjusted
ROI Payback
6.9 yrs
in Memphis
Cost of Living
93
index (100 = avg)
Petroleum Engineering in Memphis, TN Overview
Memphis is one of Tennessee's top college towns, with 22 institutions and a student population of 42,935. Public tuition averages $9,944/year here — well below the national average, making it a cost-effective choice. Although national enrollment in Petroleum Engineering has been declining, graduates with skills in Reservoir Engineering and Drilling remain competitive in the job market. The adjusted starting salary in Memphis is approximately $46,500, growing to $130,200 by mid-career.
Category
Engineering
Local Colleges
22
Public Tuition
$9,944/yr
Private Tuition
$44,033/yr
Room & Board
$14,138/yr
Avg Fin. Aid
$10,619/yr
Unemployment
3%
Graduation Rate
72%
Petroleum Engineering Salary in Memphis (COL-Adjusted)
Salaries adjusted for Memphis's cost of living index of 93 (national average = 100).
Note: National average Petroleum Engineering salary: $50,000 starting, $140,000 mid-career, $175,000 senior level.Memphis adjustment factor: 0.93x based on the local cost of living index.
Petroleum Engineering ROI Calculator for Memphis
Estimate your return on investment for a Petroleum Engineering degree using local Memphis tuition and cost of living data.
Public avg: $9,944 | Private avg: $44,033
Memphis avg aid: $10,619/yr
Federal avg: 6.5% | Private: 4-14%
Total Education Cost
$96,328
tuition + room & board - aid
Annual Earnings Premium
$13,950
vs HS diploma in Memphis
ROI Payback Period
6.9 years
to break even
Lifetime Return in Memphis
$1,112,672
Lifetime earnings premium ($1,209,000) minus total education cost ($96,328)
Student Loan Payoff for Petroleum Engineering in Memphis
Standard Plan (10 years)
Aggressive Plan (5 years)
Colleges in Memphis for Petroleum Engineering
University of Memphis
public
$9,944/yr
$39,776 total
Rhodes College
private
$52,366/yr
$209,464 total
Christian Brothers University
private
$35,700/yr
$142,800 total
Community Colleges (2-Year Transfer)
Southwest Tennessee Community College
$4,464/yr
Top Employers for Petroleum Engineering in Memphis
Memphis offers opportunities in Engineering firms, Manufacturing, Defense contractors for Petroleum Engineering graduates. National top employers in this field include:
Key Memphis Hiring Sectors for Engineering
Engineering firms
Manufacturing
Defense contractors
Energy companies
Construction firms
Common Petroleum Engineering Job Titles
Petroleum Engineering in Nearby Tennessee Cities
Nashville, TN
$46K starting · COL 92
35 colleges
Knoxville, TN
$43K starting · COL 85
5 colleges
Chattanooga, TN
$40K starting · COL 80
5 colleges
Clarksville, TN
$45K starting · COL 90
9 colleges
Murfreesboro, TN
$46K starting · COL 91
10 colleges
Franklin, TN
$59K starting · COL 118.5
4 colleges
Jackson, TN
$41K starting · COL 82.5
3 colleges
Johnson City, TN
$53K starting · COL 105
6 colleges
Other Engineering Majors in Memphis
Computer Engineering
$47K starting · 3 yr ROI
Chemical Engineering
$76K starting · 3.2 yr ROI
Nuclear Engineering
$47K starting · 3.3 yr ROI
Electrical Engineering
$74K starting · 3.3 yr ROI
Aerospace Engineering
$74K starting · 3.5 yr ROI
Mechanical Engineering
$73K starting · 3.5 yr ROI
Mining Engineering
$47K starting · 3 yr ROI
Materials Science & Engineering
$47K starting · 3.8 yr ROI
Petroleum Engineering Degree in Memphis — FAQ
Data Sources: Salary data from BLS Occupational Outlook Handbook. Cost of living from BLS Regional Data. College data from NCES/IPEDS. Updated March 2026.
Explore More
Compare Petroleum Engineering ROI in other cities, or explore other majors in Memphis.