A person working in Oil / Gas / Energy / Mining in Bermuda typically earns around 1,440 BMD per month. Salaries range from 520 BMD (lowest average) to 3,320 BMD (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||1,440 BMD|
|Associate Analyst||1,580 BMD|
|Associate Landman||660 BMD|
|Auxiliary Equipment Operator||580 BMD|
|Biomass Plant Technician||700 BMD|
|Biomass Power Plant Manager||2,070 BMD|
|Chemical Plant Operator||1,250 BMD|
|Chief Contract Compliance Engineer||1,620 BMD|
|Completions Engineer||1,480 BMD|
|Cost Controller||1,130 BMD|
|Crude Oil Marketing Representative||1,570 BMD|
|Distribution Manager||2,020 BMD|
|Dragline Operator||690 BMD|
|Driller Offsider||540 BMD|
|Dump Truck Driver||560 BMD|
|Electric and Gas Operations Manager||3,440 BMD|
|Energy Advisor||2,280 BMD|
|Energy Analyst||2,070 BMD|
|Energy Auditor||1,870 BMD|
|Energy Dispatch Director||2,660 BMD|
|Energy Technical Assistant||910 BMD|
|Energy Technical Manager||1,830 BMD|
|Energy Technical Trainer||1,280 BMD|
|Exploration Manager||2,500 BMD|
|Field Safety Auditor||1,640 BMD|
|Fluids Engineer||1,400 BMD|
|Fuel Cell Engineer||1,630 BMD|
|Fuel Cell Technician||720 BMD|
|Fuels Handler||680 BMD|
|Gas Compressor Operator||660 BMD|
|Gas Distribution Plant Operator||1,240 BMD|
|Gas Supply Manager||2,280 BMD|
|Geothermal Production Manager||2,580 BMD|
|Geothermal Technician||1,080 BMD|
|HSE Engineer||1,550 BMD|
|HSE Officer||880 BMD|
|HSEQ Administrator||1,090 BMD|
|Instrument Designer||1,170 BMD|
|Lead Technical Field Advisor||2,020 BMD|
|Logistics and Tool Coordinator||1,250 BMD|
|Maintenance Engineer||1,570 BMD|
|Maintenance Superintendent||1,280 BMD|
|Material Controller||960 BMD|
|Mine Engineer||1,380 BMD|
|Mine Surveyor||1,610 BMD|
|Mining Project Administrator||1,340 BMD|
|Mining Project Assistant||1,040 BMD|
|Mining Project Controls Consultant||1,690 BMD|
|Mining Project Coordinator||1,270 BMD|
|Mining Project Engineer||1,380 BMD|
|Mining Project Manager||1,970 BMD|
|Mining Site Manager||1,950 BMD|
|Mining Team Leader||1,520 BMD|
|NDT Technician||950 BMD|
|Oil Service Unit Operator||750 BMD|
|Oil Trader||1,880 BMD|
|Oilwell Pumper||550 BMD|
|Petroleum Engineer||1,620 BMD|
|Petroleum Geologist||2,690 BMD|
|Petroleum Pump System Operator||800 BMD|
|Pipeline Technician||590 BMD|
|Power Coordinator||940 BMD|
|Power Plant Operations Manager||2,780 BMD|
|Power Plant Operator||1,250 BMD|
|Radio Operator||640 BMD|
|Reliability Engineer||1,470 BMD|
|Reservoir Engineer||1,360 BMD|
|Risk Analyst||1,890 BMD|
|Shutdown Engineer||1,200 BMD|
|Solar Energy Installation Manager||2,190 BMD|
|Solar Energy Systems Engineer||1,580 BMD|
|Solar Photovoltaic Installer||1,020 BMD|
|Solar Thermal Technician||900 BMD|
|Supply Operations Manager||2,490 BMD|
|Sustainability Specialist||2,400 BMD|
|System Development Advisor||1,630 BMD|
|Tanker Truck Driver||580 BMD|
|Utility Operator||840 BMD|
|Wind Energy Project Manager||2,110 BMD|
Oil / Gas / Energy / Mining salaries in Bermuda range from 520 BMD per month (minimum average salary) to 3,320 BMD per month (maximum average salary, actual maximum is higher).
The median salary is 1,550 BMD per month, which means that half (50%) of people working in Oil / Gas / Energy / Mining are earning less than 1,550 BMD while the other half are earning more than 1,550 BMD. 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 930 BMD while 75% of them are earning more than 930 BMD. Also from the diagram, 75% of people working in Oil / Gas / Energy / Mining are earning less than 2,630 BMD while 25% are earning more than 2,630 BMD.
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 Bermuda costs anywhere from 7,970 Bermudian Dollar(s) to 23,900 Bermudian 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 Bermuda who work in Oil / Gas / Energy / Mining earn 19% more than their female counterparts on average.
Oil / Gas / Energy / Mining professionals in Bermuda are likely to observe a salary increase of approximately 7% every 26 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 Bermuda 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.
61% of surveyed staff in Oil / Gas / Energy / Mining reported that they haven't received any bonuses or incentives in the previous year while 39% 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 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 Bermuda earn 14% more than their private sector counterparts on average across all sectors.