Last Updated on August 12, 2023 by Oluwajuwon Alvina
The energy management salary statistics are published by the bureau of Labor Statistics. The calculations are done based on the annual salary estimates. The average salary for an individual working in the position of energy manager is $90,610 per year. The average hourly rate for this job is $45.
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Overview of Masters In Energy Management Salary
MBA Energy Management: Career Prospects
After completing MBA Energy Management, students could get jobs in various fields of consulting, analysis, and research along with project management.
Students get to work in energy trading companies and global energy markets as well. Market research, financial analysis, research for publication are some other job sectors prevailing in the field of Energy Management.
All these fields give students an opportunity to make successful careers in different sectors mentioned below:
- Oil exploring
- Power transmission
- Energy/power infrastructure
- Power distribution
- Oil marketing
- Power generation
- Energy sector consulting services
- NGOs & other government agencies
What you’ll study in an MSc in Energy Management program
Most MS in Energy Management programs dive straight into topics related to management in the energy industry. Students take courses like:
- Energy Management
- Systems Engineering
- Engineering Management
- Energy Technology in Perspective
- Energy Accounting and Valuation
- Energy Data Analysis
- Energy and Environmental Economics
- Energy Fundamentals and Trading
- Power Plant Systems
- Alternative Energy Systems
- Facilities Operation and Maintenance
- Facilities Management
- Sustainability Management
- Computer Applications for Energy Management
- Facility Security and Contingency Planning
- Energy Risk Management
- Energy Markets and Policy
- Energy Finance
- Smart Grid Systems
- Solar Energy Technology
- Wind Energy Technology
- Environmental Management, Audits, and Monitoring
These programs typically don’t offer students a lot of elective options or general management courses, which is why they can usually be completed more quickly than Energy MBA programs.
What Jobs Can You Get With an Energy Management Degree
MS in Energy Management graduates are qualified to step into a variety of mid-level roles in the oil, gas, renewables, and electricity industries. With this degree in hand, you can be a manager, analyst, researcher, or consultant. Here are some jobs you may want to check out after earning a Master of Energy Management degree:
- Director of operations If you’re most interested in the ‘management’ aspect of Master of Management in Energy programs, becoming a director of operations might be for you. A director of operations oversees energy facilities, financial analysis, risk management, account planning, and revenue growth. The job comes with a lot of responsibility, but the pay is solid. The average director of operations salary is about $175,000.
- Energy manager Energy managers are responsible for evaluating energy usage and delivery and designing energy programs that reduce costs and increase efficiency. This can involve redesigning processes and overseeing equipment upgrades. The average energy manager salary is about $104,000.
- Energy pricing analyst Energy prices can fluctuate rapidly. Analysts are responsible for ensuring that those price fluctuations can be anticipated and managed. In this role, you might work creating new pricing strategies for oil, gas, or renewable energy companies. The average energy pricing analyst salary is about $73,000, but you can potentially make a lot more if you’re leading a team of analysts at an energy company.
- Energy risk analyst In this role, you will do whatever it takes to manage risks associated with your company’s activities and transactions. Your work will involve analyzing global and regional energy trends and prices, monitoring technological systems, and identifying weaknesses in and emerging threats to those systems and your company’s strategies. The average energy risk analyst salary is about $67,000.
Review of What Does an Energy Manager Do?
Energy managers perform audits to evaluate energy use, costs, or efficiency initiatives. They monitor and analyze energy consumption, and sometimes water consumption as well. They design energy efficiency projects and manage their implementation to ensure they meet deadlines, budgets, specifications, and legal requirements. This usually involves conducting life cycle analyses and inspecting job sites. Energy managers plan and renew energy initiatives for new construction, renovations, and retrofits that maximize energy conservation. They review plans for future projects to determine their feasibility and energy requirements.
Some energy managers are responsible for supporting LEED certification of green buildings, or reporting greenhouse gas data to support voluntary climate commitments. Some also deal with utility procurement, ensuring that the company or client is getting the best value. Energy managers must write reports, work plans, and evaluation plans and submit them to management. Some are also tasked with identifying appropriate funding sources for projects and submitting the required documentation to funding agencies.
How Much do Energy Managers Make
The U.S. Bureau of Labor Statistics (BLS) reported an average annual salary of $92,680 for energy engineers in 2013.
|State||Total Employment||Bottom 25%||Median Salary||Top 75%|
|District of Columbia||2,950||$106,040||$129,760||$148,510|
Prerequisites for a Master in Energy Management USA
Unlike Energy MBA programs, MS in Energy Management programs typically don’t require applicants to have relevant professional experience to apply. You may not even need to have earned a bachelor’s degree related to the energy industry. Most universities simply require that applicants hold a Bachelor of Science degree from an accredited college or university. If you don’t have a bachelor’s degree yet, consider majoring in one of the following subjects:
- Energy and environmental policy
- Energy management
- Energy science
- Energy services
- Energy business and finance
- Mechanical engineering
Most schools ask applicants to show either GMAT or GRE test scores, a résumé, and college transcripts, though some will waive the usual application requirements for applicants with exceptional work experience. You may also need to submit a statement of purpose or a video essay, and meet with an admissions officer for an in-person interview.
An academic and/or professional background in engineering management, environmental science, energy, or business administration can make you a more attractive candidate when you’re applying to MS in Energy Management programs. If you don’t have either, you can differentiate yourself from other applicants by completing one or more internships with companies in the energy industry.