A person working as a Petroleum Geologist in Nicaragua typically earns around 32,000 NIO per month. Salaries range from 14,700 NIO (lowest) to 50,800 NIO (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 Nicaragua range from 14,700 NIO per month (minimum salary) to 50,800 NIO per month (maximum salary).
The median salary is 34,500 NIO per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 34,500 NIO while the other half are earning more than 34,500 NIO. 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 22,200 NIO while 75% of them are earning more than 22,200 NIO. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 46,100 NIO while 25% are earning more than 46,100 NIO.
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 16,700 NIO per month.
While someone with an experience level between two and five years is expected to earn 22,300 NIO 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 33,000 NIO 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 40,200 NIO 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 43,800 NIO 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 47,400 NIO 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 19,000 NIO per month.
While someone with a Master's Degree gets a salary of 29,900 NIO per month, 57% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 50,100 NIO per month, 68% more than someone with a Master's Degree.
A Master's degree program or any post-graduate program in Nicaragua costs anywhere from 94,700 Cordoba Oro(s) to 284,000 Cordoba Oro(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 Nicaragua earn 14% more than their female counterparts on average.
Petroleum Geologist(s) in Nicaragua are likely to observe a salary increase of approximately 10% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 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 Nicaragua for the year 2021. 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.
57% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 43% 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 88% 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||17,100 NIO||-47%|
|Associate Analyst||19,200 NIO||-40%|
|Associate Landman||8,080 NIO||-75%|
|Auxiliary Equipment Operator||7,010 NIO||-78%|
|Biomass Plant Technician||8,220 NIO||-74%|
|Biomass Power Plant Manager||24,900 NIO||-22%|
|Chemical Plant Operator||13,900 NIO||-57%|
|Chief Contract Compliance Engineer||18,300 NIO||-43%|
|Completions Engineer||16,300 NIO||-49%|
|Cost Controller||12,400 NIO||-61%|
|Crude Oil Marketing Representative||17,700 NIO||-45%|
|Distribution Manager||23,900 NIO||-25%|
|Dragline Operator||7,970 NIO||-75%|
|Driller Offsider||6,100 NIO||-81%|
|Dump Truck Driver||6,410 NIO||-80%|
|Electric and Gas Operations Manager||38,800 NIO||+21%|
|Energy Advisor||26,000 NIO||-19%|
|Energy Analyst||23,900 NIO||-25%|
|Energy Auditor||22,300 NIO||-30%|
|Energy Dispatch Director||30,900 NIO||-3%|
|Energy Technical Assistant||10,200 NIO||-68%|
|Energy Technical Manager||21,800 NIO||-32%|
|Energy Technical Trainer||14,600 NIO||-54%|
|Exploration Manager||30,000 NIO||-6%|
|Field Safety Auditor||19,500 NIO||-39%|
|Fluids Engineer||16,700 NIO||-48%|
|Fuel Cell Engineer||17,700 NIO||-45%|
|Fuel Cell Technician||8,910 NIO||-72%|
|Fuels Handler||7,640 NIO||-76%|
|Gas Compressor Operator||7,270 NIO||-77%|
|Gas Distribution Plant Operator||14,300 NIO||-55%|
|Gas Supply Manager||26,400 NIO||-17%|
|Geothermal Production Manager||29,100 NIO||-9%|
|Geothermal Technician||12,600 NIO||-61%|
|HSE Engineer||18,100 NIO||-43%|
|HSE Officer||10,500 NIO||-67%|
|HSEQ Administrator||12,100 NIO||-62%|
|Instrument Designer||14,000 NIO||-56%|
|Lead Technical Field Advisor||22,900 NIO||-28%|
|Logistics and Tool Coordinator||14,200 NIO||-56%|
|Maintenance Engineer||18,300 NIO||-43%|
|Maintenance Superintendent||15,800 NIO||-51%|
|Material Controller||11,000 NIO||-66%|
|Mine Engineer||17,000 NIO||-47%|
|Mine Surveyor||18,600 NIO||-42%|
|Mining Project Administrator||15,400 NIO||-52%|
|Mining Project Assistant||11,900 NIO||-63%|
|Mining Project Controls Consultant||19,800 NIO||-38%|
|Mining Project Coordinator||14,800 NIO||-54%|
|Mining Project Engineer||16,600 NIO||-48%|
|Mining Project Manager||21,300 NIO||-33%|
|Mining Site Manager||23,500 NIO||-26%|
|Mining Team Leader||17,800 NIO||-44%|
|NDT Technician||10,500 NIO||-67%|
|Oil Service Unit Operator||8,550 NIO||-73%|
|Oil Trader||22,300 NIO||-30%|
|Oilwell Pumper||6,320 NIO||-80%|
|Petroleum Engineer||18,900 NIO||-41%|
|Petroleum Geologist||32,000 NIO||+0%|
|Petroleum Pump System Operator||9,080 NIO||-72%|
|Pipeline Technician||6,540 NIO||-80%|
|Power Coordinator||10,500 NIO||-67%|
|Power Plant Operations Manager||31,900 NIO||-0%|
|Power Plant Operator||13,900 NIO||-57%|
|Radio Operator||7,790 NIO||-76%|
|Reliability Engineer||17,000 NIO||-47%|
|Reservoir Engineer||15,200 NIO||-52%|
|Risk Analyst||22,000 NIO||-31%|
|Shutdown Engineer||13,600 NIO||-57%|
|Solar Energy Installation Manager||24,200 NIO||-24%|
|Solar Energy Systems Engineer||18,100 NIO||-43%|
|Solar Photovoltaic Installer||10,900 NIO||-66%|
|Solar Thermal Technician||11,000 NIO||-66%|
|Supply Operations Manager||28,500 NIO||-11%|
|Sustainability Specialist||27,800 NIO||-13%|
|System Development Advisor||19,600 NIO||-39%|
|Tanker Truck Driver||6,950 NIO||-78%|
|Utility Operator||9,220 NIO||-71%|
|Wind Energy Project Manager||24,800 NIO||-22%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Nicaragua earn 14% more than their private sector counterparts on average across all sectors.