A person working as a Petroleum Geologist in Bolivia typically earns around 15,000 BOB per month. Salaries range from 7,790 BOB (lowest) to 22,900 BOB (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 Bolivia range from 7,790 BOB per month (minimum salary) to 22,900 BOB per month (maximum salary).
The median salary is 14,400 BOB per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 14,400 BOB while the other half are earning more than 14,400 BOB. 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 9,980 BOB while 75% of them are earning more than 9,980 BOB. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 17,900 BOB while 25% are earning more than 17,900 BOB.
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 8,850 BOB per month.
While someone with an experience level between two and five years is expected to earn 11,900 BOB 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 15,400 BOB per month, 30% 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 18,700 BOB per month, 21% 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 20,400 BOB 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 21,500 BOB per month, 5% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|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 11,400 BOB per month.
While someone with a Master's Degree gets a salary of 14,200 BOB per month, 24% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 22,600 BOB per month, 60% more than someone with a Master's Degree.
A Master's degree program or any post-graduate program in Bolivia costs anywhere from 42,600 Boliviano(s) to 128,000 Boliviano(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 Bolivia earn 7% more than their female counterparts on average.
Petroleum Geologist(s) in Bolivia 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 Bolivia 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.
63% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 37% 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 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.
|Job Title||Average Salary|
|Assistant Yard Manager||7,650 BOB||-49%|
|Associate Analyst||8,490 BOB||-43%|
|Associate Landman||3,570 BOB||-76%|
|Auxiliary Equipment Operator||3,220 BOB||-79%|
|Biomass Plant Technician||4,050 BOB||-73%|
|Biomass Power Plant Manager||10,800 BOB||-28%|
|Chemical Plant Operator||6,330 BOB||-58%|
|Chief Contract Compliance Engineer||8,000 BOB||-47%|
|Completions Engineer||7,260 BOB||-52%|
|Cost Controller||5,540 BOB||-63%|
|Crude Oil Marketing Representative||8,710 BOB||-42%|
|Distribution Manager||11,300 BOB||-25%|
|Dragline Operator||3,850 BOB||-74%|
|Driller Offsider||2,970 BOB||-80%|
|Dump Truck Driver||3,230 BOB||-78%|
|Electric and Gas Operations Manager||18,900 BOB||+26%|
|Energy Advisor||11,700 BOB||-22%|
|Energy Analyst||11,600 BOB||-23%|
|Energy Auditor||10,400 BOB||-31%|
|Energy Dispatch Director||13,200 BOB||-12%|
|Energy Technical Assistant||4,780 BOB||-68%|
|Energy Technical Manager||9,730 BOB||-35%|
|Energy Technical Trainer||6,930 BOB||-54%|
|Exploration Manager||13,800 BOB||-8%|
|Field Safety Auditor||8,780 BOB||-41%|
|Fluids Engineer||7,890 BOB||-47%|
|Fuel Cell Engineer||8,200 BOB||-45%|
|Fuel Cell Technician||4,010 BOB||-73%|
|Fuels Handler||3,770 BOB||-75%|
|Gas Compressor Operator||3,340 BOB||-78%|
|Gas Distribution Plant Operator||6,360 BOB||-58%|
|Gas Supply Manager||12,600 BOB||-16%|
|Geothermal Production Manager||13,500 BOB||-10%|
|Geothermal Technician||5,680 BOB||-62%|
|HSE Engineer||8,150 BOB||-46%|
|HSE Officer||5,080 BOB||-66%|
|HSEQ Administrator||5,510 BOB||-63%|
|Instrument Designer||6,540 BOB||-56%|
|Lead Technical Field Advisor||10,000 BOB||-33%|
|Logistics and Tool Coordinator||7,120 BOB||-52%|
|Maintenance Engineer||8,260 BOB||-45%|
|Maintenance Superintendent||7,480 BOB||-50%|
|Material Controller||5,510 BOB||-63%|
|Mine Engineer||7,660 BOB||-49%|
|Mine Surveyor||8,970 BOB||-40%|
|Mining Project Administrator||7,220 BOB||-52%|
|Mining Project Assistant||5,620 BOB||-62%|
|Mining Project Controls Consultant||9,120 BOB||-39%|
|Mining Project Coordinator||6,940 BOB||-54%|
|Mining Project Engineer||7,630 BOB||-49%|
|Mining Project Manager||9,880 BOB||-34%|
|Mining Site Manager||10,200 BOB||-32%|
|Mining Team Leader||8,770 BOB||-41%|
|NDT Technician||4,670 BOB||-69%|
|Oil Service Unit Operator||4,090 BOB||-73%|
|Oil Trader||10,000 BOB||-33%|
|Oilwell Pumper||3,060 BOB||-80%|
|Petroleum Engineer||8,860 BOB||-41%|
|Petroleum Geologist||15,000 BOB||+0%|
|Petroleum Pump System Operator||4,570 BOB||-70%|
|Pipeline Technician||2,980 BOB||-80%|
|Power Coordinator||4,890 BOB||-67%|
|Power Plant Operations Manager||15,600 BOB||+4%|
|Power Plant Operator||6,660 BOB||-56%|
|Radio Operator||3,440 BOB||-77%|
|Reliability Engineer||8,140 BOB||-46%|
|Reservoir Engineer||7,500 BOB||-50%|
|Risk Analyst||9,910 BOB||-34%|
|Shutdown Engineer||6,860 BOB||-54%|
|Solar Energy Installation Manager||11,100 BOB||-26%|
|Solar Energy Systems Engineer||8,050 BOB||-46%|
|Solar Photovoltaic Installer||5,220 BOB||-65%|
|Solar Thermal Technician||5,090 BOB||-66%|
|Supply Operations Manager||13,400 BOB||-11%|
|Sustainability Specialist||12,700 BOB||-15%|
|System Development Advisor||9,030 BOB||-40%|
|Tanker Truck Driver||3,010 BOB||-80%|
|Utility Operator||4,110 BOB||-73%|
|Wind Energy Project Manager||10,900 BOB||-27%|
|La Paz||15,800 BOB|
|Santa Cruz||15,800 BOB|
Where can you get paid more, working for a private company or for the government? Public sector employees in Bolivia earn 17% more than their private sector counterparts on average across all sectors.