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Wind Energy Engineer Average Salary in Monaco 2021

How much money does a Wind Energy Engineer make in Monaco?


Average Monthly Salary
3,890 EUR
( 46,600 EUR yearly)

LOW
2,100
EUR
AVERAGE
3,890
EUR
HIGH
5,870
EUR

A person working as a Wind Energy Engineer in Monaco typically earns around 3,890 EUR per month. Salaries range from 2,100 EUR (lowest) to 5,870 EUR (highest).

This is the average monthly salary including housing, transport, and other benefits. Wind Energy Engineer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Wind Energy Engineer Salary Distribution in Monaco

Median and salary distribution monthly Monaco Wind Energy Engineer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Wind Energy Engineer salaries in Monaco range from 2,100 EUR per month (minimum salary) to 5,870 EUR per month (maximum salary).

  • Median Salary

    The median salary is 3,580 EUR per month, which means that half (50%) of people working as Wind Energy Engineer(s) are earning less than 3,580 EUR while the other half are earning more than 3,580 EUR. 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.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Wind Energy Engineer(s) are earning less than 2,550 EUR while 75% of them are earning more than 2,550 EUR. Also from the diagram, 75% of Wind Energy Engineer(s) are earning less than 4,350 EUR while 25% are earning more than 4,350 EUR.


What is the difference between the median and the average salary?

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

Wind Energy Engineer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Monaco Wind Energy Engineer
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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 Wind Energy Engineer salaries by experience level and this is what we found.

A Wind Energy Engineer with less than two years of experience makes approximately 2,440 EUR per month.

While someone with an experience level between two and five years is expected to earn 3,080 EUR per month, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 4,060 EUR per month, 32% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Wind Energy Engineer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 4,780 EUR per month, 18% 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 5,290 EUR per month, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 5,620 EUR per month, 6% more than people with fifteen to twenty years of experience.


Wind Energy Engineer average salary change by experience in Monaco

0 - 2 Years
2,440 EUR
2 - 5 Years+26%
3,080 EUR
5 - 10 Years+32%
4,060 EUR
10 - 15 Years+18%
4,780 EUR
15 - 20 Years+11%
5,290 EUR
20+ Years+6%
5,620 EUR
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Wind Energy Engineer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Wind Energy Engineer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Monaco Wind Energy Engineer
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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 Wind Energy Engineer salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Wind Energy Engineer is 3,160 EUR per month.

While someone with a Master's Degree gets a salary of 4,810 EUR per month, 53% more than someone having a Bachelor's Degree degree.


Wind Energy Engineer average salary difference by education level in Monaco

Bachelor's Degree
3,160 EUR
Master's Degree+53%
4,810 EUR
Percentage increase and decrease are relative to the previous value

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Monaco costs anywhere from 21,200 Euro(s) to 63,600 Euro(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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Wind Energy Engineer Salary Comparison By Gender

Salary comparison by gender monthly Monaco Wind Energy Engineer
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Wind Energy Engineer employees in Monaco earn 9% more than their female counterparts on average.

Male
4,020 EUR
Female-8%
3,690 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Monaco for all Careers

Salary comparison by gender monthly Monaco
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Wind Energy Engineer Average Annual Salary Increment Percentage in Monaco

How much are annual salary increments in Monaco for Wind Energy Engineer(s)? How often do employees get salary raises?

Wind Energy Engineer

Wind Energy Engineer(s) in Monaco are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco Wind Energy Engineer
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Monaco / All Professions

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.

How to calculate the salary increment percentage?

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

The average salary increase in one year (12 months) in Monaco is 2%.

Annual Increment Rate By Industry 2020

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Listed above are the average annual increase rates for each industry in Monaco 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.


Worldwide Salary Raises: All Countries and All Jobs

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Wind Energy Engineer Bonus and Incentive Rates in Monaco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Monaco Wind Energy Engineer
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A Wind Energy Engineer is considered to be a low 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.

92% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 8% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 2% of their annual salary.

Received Bonus
8%
No Bonus
92%

Types of Bonuses Considered

Individual Performance-Based Bonuses

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.

Bonuses Are Not Commissions!

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.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

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.

Wind Energy Engineer Average Hourly Wage in Monaco


22 EUR per hour

The average hourly wage (pay per hour) in Monaco is 22 EUR. This means that the average Wind Energy Engineer in Monaco earns approximately 22 EUR for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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.

Wind Energy Engineer VS Other Jobs

Salary Comparison Between Wind Energy Engineer and Engineering monthly Monaco
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The average salary for Wind Energy Engineer is 7% more than that of Engineering. Also, Engineering salaries are 14% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Acoustics Engineer3,740 EUR-4%
Assembly Engineering Technician2,920 EUR-25%
Assistant Chief Engineer4,280 EUR+10%
Associate Engineer3,410 EUR-12%
Autocad Operator2,430 EUR-37%
Automation Engineer3,980 EUR+2%
Avionic System Support Engineer3,690 EUR-5%
Biochemical Engineer3,380 EUR-13%
BMS Engineer3,510 EUR-10%
Bridge and Lock Tender2,120 EUR-45%
Broadcast Engineer3,720 EUR-4%
CAD Design Engineer3,790 EUR-2%
CAD Designer2,520 EUR-35%
CAE Engineer3,660 EUR-6%
Ceramics Engineer3,350 EUR-14%
Civil Engineer3,920 EUR+1%
Commissioning Engineer3,540 EUR-9%
Communications Engineer4,250 EUR+9%
Condition Monitoring Engineer3,380 EUR-13%
Contract Associate Engineer3,440 EUR-11%
Control Systems Engineer3,780 EUR-3%
Controls Engineer3,650 EUR-6%
Controls Software Engineer3,230 EUR-17%
Corrosion Engineer3,410 EUR-12%
Design Engineer4,050 EUR+4%
Drafter2,470 EUR-36%
Drafting Manager4,460 EUR+15%
Drilling Engineer3,650 EUR-6%
Electrical Draughtsman2,140 EUR-45%
Electrical Engineer4,260 EUR+10%
Electrical Engineering Manager5,160 EUR+33%
Electromechanical Engineering Technologist3,930 EUR+1%
Electromechanical Equipment Assembler2,160 EUR-44%
Energy Engineer3,980 EUR+2%
Engine Assembler1,790 EUR-54%
Engineer4,040 EUR+4%
Engineering Account Manager4,440 EUR+14%
Engineering Chief Designer4,420 EUR+14%
Engineering Consultant5,240 EUR+35%
Engineering Key Account Manager5,450 EUR+40%
Engineering Lab Technician3,740 EUR-4%
Engineering Planning Manager5,310 EUR+37%
Engineering Production Manager6,400 EUR+65%
Engineering Project Analyst4,200 EUR+8%
Engineering Project Coordinator 4,470 EUR+15%
Engineering Project Director7,700 EUR+98%
Engineering Project Manager5,240 EUR+35%
Engineering Research and Development Manager5,660 EUR+46%
Engineering Safety Coordinator2,920 EUR-25%
Engineering Sales Manager5,090 EUR+31%
Engineering Technician3,040 EUR-22%
Engineering Technologist2,880 EUR-26%
Environmental Engineer3,560 EUR-8%
Equipment Engineer3,480 EUR-10%
Equipment Engineering Manager5,100 EUR+31%
Estimator3,420 EUR-12%
Fabrication Specialist2,800 EUR-28%
Fabricator1,990 EUR-49%
Facade Engineer3,670 EUR-6%
Fiber Analyst2,330 EUR-40%
Field Engineer3,860 EUR-1%
Field Engineering Manager6,340 EUR+63%
Fire Engineer3,740 EUR-4%
Fitter and Turner1,460 EUR-62%
Forestry Strategic Planner4,280 EUR+10%
Generation Engineer3,780 EUR-3%
Genetic Engineer4,190 EUR+8%
Geological Engineer3,760 EUR-3%
Geotechnical Engineer3,880 EUR-0%
Heavy Equipment Mechanic2,270 EUR-42%
Highway Engineer3,810 EUR-2%
HSE Professional3,400 EUR-13%
HVAC Engineer4,220 EUR+9%
HVAC Supervisor3,410 EUR-12%
Industrial Engineer3,630 EUR-7%
Industrial Engineering Technologist3,740 EUR-4%
Instrument Engineer3,570 EUR-8%
Instrumentation and Control Engineer3,760 EUR-3%
Instrumentation Engineer3,690 EUR-5%
Instrumentation Manager3,700 EUR-5%
Irrigation Engineer3,820 EUR-2%
Licensed Aircraft Engineer3,950 EUR+2%
Locomotive Engineer3,820 EUR-2%
Maintenance Engineer3,490 EUR-10%
Maintenance Fitter1,600 EUR-59%
Maintenance Manager3,650 EUR-6%
Manufacturing Engineer3,730 EUR-4%
Marine Engineer3,660 EUR-6%
Materials Engineer3,730 EUR-4%
Materials Researcher3,390 EUR-13%
Materials Technician2,790 EUR-28%
Mechanical and Electrical Engineer3,940 EUR+1%
Mechanical Design Engineer4,110 EUR+6%
Mechanical Designer3,190 EUR-18%
Mechanical Engineer4,190 EUR+8%
Mechanical Engineering Manager5,120 EUR+32%
Mechanical Inspector3,660 EUR-6%
Mechatronics Engineer4,180 EUR+8%
Mining Engineer3,790 EUR-2%
Oil and Petrochemical Engineer3,980 EUR+2%
Optical Engineer3,720 EUR-4%
Optical Instrument Assembler2,180 EUR-44%
PCB Assembler1,510 EUR-61%
Photonics Engineer4,160 EUR+7%
Photonics Technician3,590 EUR-8%
Pipeline Engineer3,610 EUR-7%
Piping Designer2,140 EUR-45%
Piping Engineer3,550 EUR-9%
Planning Engineer4,030 EUR+4%
Pressure Vessel Inspector1,910 EUR-51%
Principal Cost Engineer3,710 EUR-5%
Principal Engineer3,660 EUR-6%
Principal Support Engineer3,820 EUR-2%
Process Engineer3,800 EUR-2%
Process Operator2,350 EUR-40%
Product Development Engineer3,750 EUR-4%
Product Development Technician2,740 EUR-30%
Product Engineer3,910 EUR+1%
Product Safety Engineer3,660 EUR-6%
Production Engineer3,960 EUR+2%
Project Engineer4,140 EUR+7%
Proposal Manager4,840 EUR+25%
Purchasing Engineer3,630 EUR-7%
Quality Assurance Engineer3,680 EUR-5%
Rail Engineer3,900 EUR+0%
Robotics Engineer4,450 EUR+14%
Robotics Technician3,130 EUR-19%
Safety Engineer3,650 EUR-6%
Safety Inspector2,890 EUR-26%
Safety Manager4,400 EUR+13%
Safety Officer2,030 EUR-48%
Sales Engineer4,090 EUR+5%
Scheduling Engineer3,430 EUR-12%
Service Engineer3,820 EUR-2%
Solar Engineer3,880 EUR-0%
Staff Engineer3,680 EUR-5%
Static Equipment Engineer3,650 EUR-6%
Stationary Engineer3,590 EUR-8%
Stress Engineer3,440 EUR-11%
Structural Analysis Engineer3,770 EUR-3%
Structural Designer3,440 EUR-11%
Structural Engineer3,550 EUR-9%
Structural Technician2,540 EUR-35%
Supply Chain Specialist3,620 EUR-7%
Surveyor3,000 EUR-23%
Technical Affairs Officer2,020 EUR-48%
Technical Assistant2,080 EUR-46%
Technical Engineer3,300 EUR-15%
Technical Support Engineer3,380 EUR-13%
Tender Engineer3,460 EUR-11%
Test Development Engineer3,830 EUR-1%
Transportation Engineer3,630 EUR-7%
Validation Engineer3,570 EUR-8%
Verification Engineer3,690 EUR-5%
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Wind Energy Engineer3,890 EUR+0%
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Work Planner2,670 EUR-31%

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Monaco earn 10% more than their private sector counterparts on average across all sectors.

Private Sector
4,110 EUR
Public Sector+10%
4,540 EUR
Percentage increase and decrease are relative to the previous value

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