A person working as a Petroleum Geologist in Korea (South) typically earns around 6,420,000 KRW per month. Salaries range from 2,950,000 KRW (lowest) to 10,200,000 KRW (highest).
This is the average monthly salary including housing, transport, and other benefits. Petroleum Geologist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Petroleum Geologist salaries in Korea (South) range from 2,950,000 KRW per month (minimum salary) to 10,200,000 KRW per month (maximum salary).
The median salary is 6,930,000 KRW per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 6,930,000 KRW while the other half are earning more than 6,930,000 KRW. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Petroleum Geologist(s) are earning less than 4,450,000 KRW while 75% of them are earning more than 4,450,000 KRW. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 9,250,000 KRW while 25% are earning more than 9,250,000 KRW.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Petroleum Geologist salaries by experience level and this is what we found.
A Petroleum Geologist with less than two years of experience makes approximately 3,350,000 KRW per month.
While someone with an experience level between two and five years is expected to earn 4,470,000 KRW per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 6,610,000 KRW per month, 48% more than someone with two to five years of experience.
Additionally, Petroleum Geologist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 8,060,000 KRW per month, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 8,790,000 KRW per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 9,510,000 KRW per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|15 - 20 Years||+9%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Petroleum Geologist salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of a Petroleum Geologist is 3,820,000 KRW per month.
While someone with a Master's Degree gets a salary of 6,000,000 KRW per month, 57% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 10,100,000 KRW per month, 68% more than someone with a Master's Degree.
A Master's degree program or any post-graduate program in Korea (South) costs anywhere from 19,400,000 South Korean Won(s) to 58,300,000 South Korean Won(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Petroleum Geologist employees in Korea (South) earn 8% more than their female counterparts on average.
Petroleum Geologist(s) in Korea (South) are likely to observe a salary increase of approximately 14% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Listed above are the average annual increase rates for each industry in Korea (South) for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Petroleum Geologist is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
39% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 61% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.
The most standard form of bonus where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The average salary for Petroleum Geologist is 83% more than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.
|Job Title||Average Salary|
|Assistant Yard Manager||3,620,000 KRW||-44%|
|Associate Analyst||4,080,000 KRW||-36%|
|Associate Landman||1,710,000 KRW||-73%|
|Auxiliary Equipment Operator||1,480,000 KRW||-77%|
|Biomass Plant Technician||1,770,000 KRW||-72%|
|Biomass Power Plant Manager||5,140,000 KRW||-20%|
|Chemical Plant Operator||2,960,000 KRW||-54%|
|Chief Contract Compliance Engineer||3,910,000 KRW||-39%|
|Completions Engineer||3,370,000 KRW||-47%|
|Cost Controller||2,570,000 KRW||-60%|
|Crude Oil Marketing Representative||3,960,000 KRW||-38%|
|Distribution Manager||5,170,000 KRW||-19%|
|Dragline Operator||1,670,000 KRW||-74%|
|Driller Offsider||1,270,000 KRW||-80%|
|Dump Truck Driver||1,480,000 KRW||-77%|
|Electric and Gas Operations Manager||8,060,000 KRW||+26%|
|Energy Advisor||5,550,000 KRW||-13%|
|Energy Analyst||5,000,000 KRW||-22%|
|Energy Auditor||4,470,000 KRW||-30%|
|Energy Dispatch Director||6,170,000 KRW||-4%|
|Energy Technical Assistant||2,170,000 KRW||-66%|
|Energy Technical Manager||4,600,000 KRW||-28%|
|Energy Technical Trainer||3,290,000 KRW||-49%|
|Exploration Manager||6,340,000 KRW||-1%|
|Field Safety Auditor||4,000,000 KRW||-38%|
|Fluids Engineer||3,600,000 KRW||-44%|
|Fuel Cell Engineer||4,020,000 KRW||-37%|
|Fuel Cell Technician||1,940,000 KRW||-70%|
|Fuels Handler||1,710,000 KRW||-73%|
|Gas Compressor Operator||1,670,000 KRW||-74%|
|Gas Distribution Plant Operator||3,130,000 KRW||-51%|
|Gas Supply Manager||5,670,000 KRW||-12%|
|Geothermal Production Manager||6,360,000 KRW||-1%|
|Geothermal Technician||2,640,000 KRW||-59%|
|HSE Engineer||3,790,000 KRW||-41%|
|HSE Officer||2,340,000 KRW||-64%|
|HSEQ Administrator||2,570,000 KRW||-60%|
|Instrument Designer||2,800,000 KRW||-56%|
|Lead Technical Field Advisor||4,890,000 KRW||-24%|
|Logistics and Tool Coordinator||3,260,000 KRW||-49%|
|Maintenance Engineer||3,840,000 KRW||-40%|
|Maintenance Superintendent||3,280,000 KRW||-49%|
|Material Controller||2,520,000 KRW||-61%|
|Mine Engineer||3,710,000 KRW||-42%|
|Mine Surveyor||3,880,000 KRW||-40%|
|Mining Project Administrator||3,210,000 KRW||-50%|
|Mining Project Assistant||2,670,000 KRW||-58%|
|Mining Project Controls Consultant||4,280,000 KRW||-33%|
|Mining Project Coordinator||3,340,000 KRW||-48%|
|Mining Project Engineer||3,510,000 KRW||-45%|
|Mining Project Manager||4,840,000 KRW||-25%|
|Mining Site Manager||4,840,000 KRW||-25%|
|Mining Team Leader||3,830,000 KRW||-40%|
|NDT Technician||2,160,000 KRW||-66%|
|Oil Service Unit Operator||1,870,000 KRW||-71%|
|Oil Trader||4,580,000 KRW||-29%|
|Oilwell Pumper||1,320,000 KRW||-79%|
|Petroleum Engineer||4,270,000 KRW||-33%|
|Petroleum Geologist||6,420,000 KRW||+0%|
|Petroleum Pump System Operator||2,090,000 KRW||-67%|
|Pipeline Technician||1,390,000 KRW||-78%|
|Power Coordinator||2,300,000 KRW||-64%|
|Power Plant Operations Manager||7,200,000 KRW||+12%|
|Power Plant Operator||3,110,000 KRW||-52%|
|Radio Operator||1,650,000 KRW||-74%|
|Reliability Engineer||3,660,000 KRW||-43%|
|Reservoir Engineer||3,410,000 KRW||-47%|
|Risk Analyst||4,610,000 KRW||-28%|
|Shutdown Engineer||3,140,000 KRW||-51%|
|Solar Energy Installation Manager||5,550,000 KRW||-13%|
|Solar Energy Systems Engineer||3,960,000 KRW||-38%|
|Solar Photovoltaic Installer||2,290,000 KRW||-64%|
|Solar Thermal Technician||2,210,000 KRW||-66%|
|Supply Operations Manager||5,950,000 KRW||-7%|
|Sustainability Specialist||5,680,000 KRW||-11%|
|System Development Advisor||4,150,000 KRW||-35%|
|Tanker Truck Driver||1,430,000 KRW||-78%|
|Utility Operator||1,900,000 KRW||-70%|
|Wind Energy Project Manager||5,090,000 KRW||-21%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Korea (South) earn 6% more than their private sector counterparts on average across all sectors.