Petroleum Geologist Average Salary in Barbados 2022
How much money does a Petroleum Geologist make in Barbados?
LOW
2,800
BBD AVERAGE
5,700
BBD HIGH
8,900
BBD
A person working as a Petroleum Geologist in Barbados typically earns around 5,700 BBD per month. Salaries range from 2,800 BBD (lowest) to 8,900 BBD (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 Salary Distribution in Barbados
The median, the maximum, the minimum, and the range
Salary Range
Petroleum Geologist salaries in Barbados range from 2,800 BBD per month (minimum salary) to 8,900 BBD per month (maximum salary).
Median Salary
The median salary is 5,820 BBD per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 5,820 BBD while the other half are earning more than 5,820 BBD. 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 Petroleum Geologist(s) are earning less than 3,880 BBD while 75% of them are earning more than 3,880 BBD. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 7,510 BBD while 25% are earning more than 7,510 BBD.
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
Petroleum Geologist Salary Comparison by Years of Experience
How does experience and age affect your pay?
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 3,310 BBD per month.
While someone with an experience level between two and five years is expected to earn 4,260 BBD per month, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 5,880 BBD per month, 38% 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 7,280 BBD per month, 24% 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 7,800 BBD per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 8,320 BBD per month, 7% more than people with fifteen to twenty years of experience.
Petroleum Geologist average salary change by experience in Barbados
| 0 - 2 Years | 3,310 BBD | |
| 2 - 5 Years | +29% | 4,260 BBD |
| 5 - 10 Years | +38% | 5,880 BBD |
| 10 - 15 Years | +24% | 7,280 BBD |
| 15 - 20 Years | +7% | 7,800 BBD |
| 20+ Years | +7% | 8,320 BBD |
Typical Salary Progress for Most Careers
Petroleum Geologist Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Petroleum Geologist(s) who have the same experience but different education levels.
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 3,890 BBD per month.
While someone with a Master's Degree gets a salary of 5,360 BBD per month, 38% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 8,780 BBD per month, 64% more than someone with a Master's Degree.
Petroleum Geologist average salary difference by education level in Barbados
| Bachelor's Degree | 3,890 BBD | |
| Master's Degree | +38% | 5,360 BBD |
| PhD | +64% | 8,780 BBD |
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 Barbados costs anywhere from 16,300 Barbados Dollar(s) to 48,800 Barbados Dollar(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
Petroleum Geologist Salary Comparison By Gender
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 Barbados earn 9% more than their female counterparts on average.
| Male | 5,910 BBD | |
| Female | -8% | 5,410 BBD |
Salary Comparison By Gender in Barbados for all Careers
Petroleum Geologist Average Annual Salary Increment Percentage in Barbados
How much are annual salary increments in Barbados for Petroleum Geologist(s)? How often do employees get salary raises?
Petroleum Geologist
Petroleum Geologist(s) in Barbados are likely to observe a salary increase of approximately 9% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Barbados / 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
Annual Increment Rate By Industry 2021
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in Barbados 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.
Worldwide Salary Raises: All Countries and All Jobs
Petroleum Geologist Bonus and Incentive Rates in Barbados
How much and how often are bonuses being awarded?
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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.
60% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 40% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.
| Received Bonus | 40% | |
| No Bonus | 60% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 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. |
Example: | Example: |
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.
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.
Petroleum Geologist Average Hourly Wage in Barbados
33 BBD per hourThe average hourly wage (pay per hour) in Barbados is 33 BBD. This means that the average Petroleum Geologist in Barbados earns approximately 33 BBD for every worked hour.
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.
Petroleum Geologist VS Other Jobs
The average salary for Petroleum Geologist is 95% more than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Assistant Yard Manager | 2,840 BBD |  -50% |
| Associate Analyst | 3,480 BBD | -39% |
| Associate Landman | 1,460 BBD | -74% |
| Auxiliary Equipment Operator | 1,220 BBD | -79% |
| Biomass Plant Technician | 1,460 BBD | -74% |
| Biomass Power Plant Manager | 4,260 BBD | -25% |
| Chemical Plant Operator | 2,390 BBD | -58% |
| Chief Contract Compliance Engineer | 3,290 BBD | -42% |
| Completions Engineer | 2,920 BBD | -49% |
| Cost Controller | 2,120 BBD | -63% |
| Crude Oil Marketing Representative | 3,430 BBD | -40% |
| Dispatcher | 1,270 BBD | -78% |
| Distribution Manager | 4,440 BBD | -22% |
| Dragline Operator | 1,480 BBD | -74% |
| Driller Offsider | 1,080 BBD | -81% |
| Dump Truck Driver | 1,200 BBD | -79% |
| Electric and Gas Operations Manager | 6,900 BBD |  +21% |
| Energy Advisor | 4,650 BBD | -18% |
| Energy Analyst | 4,210 BBD | -26% |
| Energy Auditor | 3,780 BBD | -34% |
| Energy Dispatch Director | 5,300 BBD | -7% |
| Energy Technical Assistant | 1,840 BBD | -68% |
| Energy Technical Manager | 3,610 BBD | -37% |
| Energy Technical Trainer | 2,690 BBD | -53% |
| Exploration Manager | 5,470 BBD | -4% |
| Field Safety Auditor | 3,520 BBD | -38% |
| Fluids Engineer | 3,090 BBD | -46% |
| Fuel Cell Engineer | 3,190 BBD | -44% |
| Fuel Cell Technician | 1,550 BBD | -73% |
| Fuels Handler | 1,480 BBD | -74% |
| Gas Compressor Operator | 1,370 BBD | -76% |
| Gas Distribution Plant Operator | 2,580 BBD | -55% |
| Gas Supply Manager | 4,470 BBD | -22% |
| Geologist | 5,390 BBD | -6% |
| Geophysicist | 5,400 BBD | -5% |
| Geothermal Production Manager | 5,040 BBD | -12% |
| Geothermal Technician | 2,100 BBD | -63% |
| HSE Engineer | 3,020 BBD | -47% |
| HSE Officer | 1,870 BBD | -67% |
| HSEQ Administrator | 2,190 BBD | -62% |
| Inspector | 2,940 BBD | -48% |
| Instructor | 2,410 BBD | -58% |
| Instrument Designer | 2,370 BBD | -58% |
| Lead Technical Field Advisor | 3,910 BBD | -31% |
| Logistics and Tool Coordinator | 2,640 BBD | -54% |
| Maintenance Engineer | 3,220 BBD | -44% |
| Maintenance Superintendent | 2,820 BBD | -51% |
| Material Controller | 2,140 BBD | -62% |
| Mine Engineer | 2,960 BBD | -48% |
| Mine Surveyor | 3,270 BBD | -43% |
| Mining Project Administrator | 2,720 BBD | -52% |
| Mining Project Assistant | 2,070 BBD | -64% |
| Mining Project Controls Consultant | 3,340 BBD | -41% |
| Mining Project Coordinator | 2,690 BBD | -53% |
| Mining Project Engineer | 2,880 BBD | -50% |
| Mining Project Manager | 4,030 BBD | -29% |
| Mining Site Manager | 4,010 BBD | -30% |
| Mining Team Leader | 3,160 BBD | -45% |
| NDT Technician | 1,880 BBD | -67% |
| Oil Service Unit Operator | 1,550 BBD | -73% |
| Oil Trader | 4,030 BBD | -29% |
| Oilwell Pumper | 1,170 BBD | -79% |
| Petroleum Engineer | 3,610 BBD | -37% |
| Petroleum Geologist | 5,700 BBD | -0% |
| Petroleum Pump System Operator | 1,780 BBD | -69% |
| Pipeline Technician | 1,120 BBD | -80% |
| Power Coordinator | 1,920 BBD | -66% |
| Power Plant Operations Manager | 5,850 BBD | +3% |
| Power Plant Operator | 2,580 BBD | -55% |
| Radio Operator | 1,410 BBD | -75% |
| Reliability Engineer | 3,030 BBD | -47% |
| Reservoir Engineer | 2,950 BBD | -48% |
| Risk Analyst | 3,860 BBD | -32% |
| Roughneck | 3,140 BBD | -45% |
| Scaffolder | 2,070 BBD | -64% |
| Shutdown Engineer | 2,540 BBD | -55% |
| Solar Energy Installation Manager | 4,560 BBD | -20% |
| Solar Energy Systems Engineer | 3,270 BBD | -43% |
| Solar Photovoltaic Installer | 1,900 BBD | -67% |
| Solar Thermal Technician | 1,840 BBD | -68% |
| Supply Operations Manager | 4,790 BBD | -16% |
| Sustainability Specialist | 5,080 BBD | -11% |
| System Development Advisor | 3,410 BBD | -40% |
| Tanker Truck Driver | 1,250 BBD | -78% |
| Utility Operator | 1,650 BBD | -71% |
| Wind Energy Project Manager | 4,070 BBD | -29% |
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 Barbados earn 11% more than their private sector counterparts on average across all sectors.
| Private Sector | 3,060 BBD | |
| Public Sector | +11% | 3,390 BBD |
