A person working in Oil / Gas / Energy / Mining in Turks and Caicos Islands typically earns around 1,340 USD per month. Salaries range from 490 USD (lowest average) to 3,100 USD (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Oil / Gas / Energy / Mining careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
|Job Title||Average Salary|
|Assistant Yard Manager||1,280 USD|
|Associate Analyst||1,460 USD|
|Associate Landman||610 USD|
|Auxiliary Equipment Operator||590 USD|
|Biomass Plant Technician||700 USD|
|Biomass Power Plant Manager||2,050 USD|
|Chemical Plant Operator||1,080 USD|
|Chief Contract Compliance Engineer||1,420 USD|
|Completions Engineer||1,370 USD|
|Cost Controller||1,000 USD|
|Crude Oil Marketing Representative||1,520 USD|
|Distribution Manager||2,030 USD|
|Dragline Operator||660 USD|
|Driller Offsider||520 USD|
|Dump Truck Driver||560 USD|
|Electric and Gas Operations Manager||3,330 USD|
|Energy Advisor||2,170 USD|
|Energy Analyst||1,890 USD|
|Energy Auditor||1,710 USD|
|Energy Dispatch Director||2,320 USD|
|Energy Technical Assistant||900 USD|
|Energy Technical Manager||1,630 USD|
|Energy Technical Trainer||1,250 USD|
|Exploration Manager||2,410 USD|
|Field Safety Auditor||1,610 USD|
|Fluids Engineer||1,410 USD|
|Fuel Cell Engineer||1,420 USD|
|Fuel Cell Technician||690 USD|
|Fuels Handler||660 USD|
|Gas Compressor Operator||630 USD|
|Gas Distribution Plant Operator||1,190 USD|
|Gas Supply Manager||2,190 USD|
|Geothermal Production Manager||2,440 USD|
|Geothermal Technician||1,020 USD|
|HSE Engineer||1,460 USD|
|HSE Officer||820 USD|
|HSEQ Administrator||990 USD|
|Instrument Designer||1,070 USD|
|Lead Technical Field Advisor||1,870 USD|
|Logistics and Tool Coordinator||1,240 USD|
|Maintenance Engineer||1,410 USD|
|Maintenance Superintendent||1,260 USD|
|Material Controller||920 USD|
|Mine Engineer||1,320 USD|
|Mine Surveyor||1,470 USD|
|Mining Project Administrator||1,250 USD|
|Mining Project Assistant||970 USD|
|Mining Project Controls Consultant||1,560 USD|
|Mining Project Coordinator||1,290 USD|
|Mining Project Engineer||1,400 USD|
|Mining Project Manager||1,800 USD|
|Mining Site Manager||1,930 USD|
|Mining Team Leader||1,510 USD|
|NDT Technician||880 USD|
|Oil Service Unit Operator||730 USD|
|Oil Trader||1,840 USD|
|Oilwell Pumper||530 USD|
|Petroleum Engineer||1,570 USD|
|Petroleum Geologist||2,570 USD|
|Petroleum Pump System Operator||760 USD|
|Pipeline Technician||510 USD|
|Power Coordinator||840 USD|
|Power Plant Operations Manager||2,660 USD|
|Power Plant Operator||1,170 USD|
|Radio Operator||590 USD|
|Reliability Engineer||1,350 USD|
|Reservoir Engineer||1,310 USD|
|Risk Analyst||1,690 USD|
|Shutdown Engineer||1,200 USD|
|Solar Energy Installation Manager||2,090 USD|
|Solar Energy Systems Engineer||1,500 USD|
|Solar Photovoltaic Installer||880 USD|
|Solar Thermal Technician||860 USD|
|Supply Operations Manager||2,200 USD|
|Sustainability Specialist||2,260 USD|
|System Development Advisor||1,660 USD|
|Tanker Truck Driver||540 USD|
|Utility Operator||780 USD|
|Wind Energy Project Manager||1,910 USD|
Oil / Gas / Energy / Mining salaries in Turks and Caicos Islands range from 490 USD per month (minimum average salary) to 3,100 USD per month (maximum average salary, actual maximum is higher).
The median salary is 1,290 USD per month, which means that half (50%) of people working in Oil / Gas / Energy / Mining are earning less than 1,290 USD while the other half are earning more than 1,290 USD. 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 people working in Oil / Gas / Energy / Mining are earning less than 800 USD while 75% of them are earning more than 800 USD. Also from the diagram, 75% of people working in Oil / Gas / Energy / Mining are earning less than 2,100 USD while 25% are earning more than 2,100 USD.
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 the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
A Master's degree program or any post-graduate program in Turks and Caicos Islands costs anywhere from 7,430 US Dollar(s) to 22,300 US 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then 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 employees in Turks and Caicos Islands who work in Oil / Gas / Energy / Mining earn 11% more than their female counterparts on average.
Oil / Gas / Energy / Mining professionals in Turks and Caicos Islands are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 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 Turks and Caicos Islands 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.
Oil / Gas / Energy / Mining is considered to be a moderate bonus-based field 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.
67% of surveyed staff in Oil / Gas / Energy / Mining reported that they haven't received any bonuses or incentives in the previous year while 33% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% 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 Oil / Gas / Energy / Mining is 10% less than that of All Jobs.
Where can you get paid more, working for a private company or for the government? Public sector employees in Turks and Caicos Islands earn 10% more than their private sector counterparts on average across all sectors.