Provided is an adjustable split thrust ring and a drilling system including the same. The adjustable split thrust ring, in one embodiment, includes a downhole split ring including two or more separate downhole pieces, the two or more separate downhole pieces fitting together to form a substantially circular downhole shoulder. The adjustable split thrust ring further includes an uphole split ring positionable proximate the downhole split ring and including two or more separate uphole pieces, the two or more separate uphole pieces fitting together to form a substantially circular uphole shoulder. In this embodiment, the substantially circular downhole shoulder and the substantially circular uphole shoulder are movable relative to one another to adjust to fit a groove in a driveshaft that they are configured to sit.