Petroleum Engineering Degree in Waukegan, IL — Salary & ROI 2026
Petroleum Engineering degree analysis for Waukegan, IL. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.
Starting Salary
$45K
COL-adjusted
Mid-Career
$126K
COL-adjusted
ROI Payback
8.6 yrs
in Waukegan
Cost of Living
90.3
index (100 = avg)
Petroleum Engineering in Waukegan, IL Overview
While Waukegan has a smaller college scene with 4 institutions, Petroleum Engineering students benefit from the close-knit academic community. Room and board averages $13,641/year, and the car-friendly layout shapes the student experience. 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 Waukegan is approximately $45,150, growing to $126,420 by mid-career.
Category
Engineering
Local Colleges
4
Public Tuition
$15,400/yr
Private Tuition
$38,000/yr
Room & Board
$13,641/yr
Avg Fin. Aid
$13,734/yr
Unemployment
5.1%
Graduation Rate
74%
Petroleum Engineering Salary in Waukegan (COL-Adjusted)
Salaries adjusted for Waukegan's cost of living index of 90.3 (national average = 100).
Note: National average Petroleum Engineering salary: $50,000 starting, $140,000 mid-career, $175,000 senior level.Waukegan adjustment factor: 0.90x based on the local cost of living index.
Petroleum Engineering ROI Calculator for Waukegan
Estimate your return on investment for a Petroleum Engineering degree using local Waukegan tuition and cost of living data.
Public avg: $15,400 | Private avg: $38,000
Waukegan avg aid: $13,734/yr
Federal avg: 6.5% | Private: 4-14%
Total Education Cost
$116,164
tuition + room & board - aid
Annual Earnings Premium
$13,545
vs HS diploma in Waukegan
ROI Payback Period
8.6 years
to break even
Lifetime Return in Waukegan
$1,057,736
Lifetime earnings premium ($1,173,900) minus total education cost ($116,164)
Student Loan Payoff for Petroleum Engineering in Waukegan
Standard Plan (10 years)
Aggressive Plan (5 years)
Colleges in Waukegan for Petroleum Engineering
Waukegan State University
public
$15,619/yr
$62,476 total
Community Colleges (2-Year Transfer)
Waukegan Community College
$4,848/yr
Top Employers for Petroleum Engineering in Waukegan
Waukegan offers opportunities in Engineering firms, Manufacturing, Defense contractors for Petroleum Engineering graduates. National top employers in this field include:
Key Waukegan Hiring Sectors for Engineering
Engineering firms
Manufacturing
Defense contractors
Energy companies
Construction firms
Common Petroleum Engineering Job Titles
Petroleum Engineering in Nearby Illinois Cities
Chicago, IL
$55K starting · COL 109
98 colleges
Aurora, IL
$46K starting · COL 92.8
7 colleges
Joliet, IL
$54K starting · COL 108
12 colleges
Naperville, IL
$51K starting · COL 102
13 colleges
Rockford, IL
$45K starting · COL 90
8 colleges
Elgin, IL
$40K starting · COL 79
13 colleges
Springfield, IL
$46K starting · COL 92
9 colleges
Peoria, IL
$52K starting · COL 104
5 colleges
Other Engineering Majors in Waukegan
Computer Engineering
$45K starting · 3 yr ROI
Chemical Engineering
$74K starting · 3.2 yr ROI
Nuclear Engineering
$45K starting · 3.3 yr ROI
Electrical Engineering
$72K starting · 3.3 yr ROI
Aerospace Engineering
$72K starting · 3.5 yr ROI
Mechanical Engineering
$70K starting · 3.5 yr ROI
Mining Engineering
$45K starting · 3 yr ROI
Materials Science & Engineering
$45K starting · 3.8 yr ROI
Petroleum Engineering Degree in Waukegan — 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 Waukegan.