Alex Dudov
Not every success story involves jumping from startup to startup or making a quick fortune. Some of the most impressive careers are built brick by brick within a single organization. That's exactly what Darren Woods did at ExxonMobil. The guy started as a regular engineer fresh out of college and worked his way up to running one of the biggest oil companies on the planet. His journey shows what's possible when you combine patience, expertise, and genuine commitment to mastering your field.
How Darren Woods Made His First Money
Right after graduating from Texas A&M University with an electrical engineering degree in 1992, Woods landed his first real job at Exxon. He started out at their refining facility in Joliet, Illinois, working as a planning analyst. Nothing fancy, just your typical entry-level engineering gig that probably paid him somewhere between $40,000 and $50,000 a year. But Woods was smart about his career development. He went back to school and got his MBA from Northwestern's Kellogg School of Management in 1999, which basically set him up for bigger things down the road.
Building a Career at ExxonMobil: The Long Game
Here's where Woods's story gets interesting. Instead of bouncing around different companies like most people do today, he stayed put and moved through different divisions at ExxonMobil. Throughout the 2000s, he worked in refining, supply chains, and fuel marketing across multiple countries. By the mid-2000s, when he'd climbed into senior management roles overseeing major operations, he was pulling in somewhere between $200,000 and $400,000 annually with bonuses included. The real turning point came in 2016 when he became president of ExxonMobil Refining & Supply Company. That position came with compensation in the multiple millions and basically put him next in line for the top spot.
The CEO of ExxonMobil Takes the Throne
On January 1, 2017, after spending 25 years at the company, Woods finally made it to the top. He became the CEO of ExxonMobil, taking over from Rex Tillerson who left to become Secretary of State. Think about that for a second – the guy spent his entire career at one company before becoming its leader. That's pretty rare these days. Since taking over, he's had to navigate some seriously tough situations including crazy oil price swings, the pandemic wreaking havoc on energy demand, and mounting pressure to deal with climate change issues.
What Woods Makes Now and His Overall Wealth
These days, being the CEO of ExxonMobil pays extremely well. Woods pulls in somewhere between $20 million and $30 million every year when you factor in his base salary, bonuses, and stock awards. In 2022, his total compensation hit around $23.6 million. When you add up everything he's accumulated over the years – stock holdings, vested equity, decades of executive pay – his net worth sits somewhere in the $100 million to $150 million range. Not bad for someone who started as a regular engineer making $40,000 a year.
Woods's Blueprint for Success: What He Believes Actually Works
Throughout his career, Woods has been pretty open about what he thinks drives real success. First off, he's big on knowing your business inside and out. He didn't just sit in boardrooms – he worked across different segments of the company and really understood how everything operated. He's also talked about why staying with one company and building deep expertise can beat the job-hopping approach that everyone thinks is the way to go now. Woods believes in playing the long game, making decisions that pay off years down the road rather than chasing quick wins. Another thing he emphasizes is being willing to take tough assignments, especially international ones that push you out of your comfort zone. And finally, he's all about operational excellence and smart capital allocation – basically, doing things right and not wasting resources. His advice to people climbing the corporate ladder? Be patient, become a genuine expert in what you do, and commit to your organization's values. It's old-school advice, but it clearly worked for him.
Alex Dudov
