Petroleum Geologist Average Salary in Grenada 2022
How much money does a Petroleum Geologist make in Grenada?
LOW
5,290
XCD AVERAGE
10,200
XCD HIGH
15,600
XCD
A person working as a Petroleum Geologist in Grenada typically earns around 10,200 XCD per month. Salaries range from 5,290 XCD (lowest) to 15,600 XCD (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 Grenada
The median, the maximum, the minimum, and the range
Salary Range
Petroleum Geologist salaries in Grenada range from 5,290 XCD per month (minimum salary) to 15,600 XCD per month (maximum salary).
Median Salary
The median salary is 9,770 XCD per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 9,770 XCD while the other half are earning more than 9,770 XCD. 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 6,780 XCD while 75% of them are earning more than 6,780 XCD. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 12,200 XCD while 25% are earning more than 12,200 XCD.
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 6,010 XCD per month.
While someone with an experience level between two and five years is expected to earn 8,070 XCD 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 10,500 XCD 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 12,700 XCD 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 13,900 XCD 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 14,600 XCD per month, 5% more than people with fifteen to twenty years of experience.
Petroleum Geologist average salary change by experience in Grenada
| 0 - 2 Years | 6,010 XCD | |
| 2 - 5 Years | +34% | 8,070 XCD |
| 5 - 10 Years | +30% | 10,500 XCD |
| 10 - 15 Years | +21% | 12,700 XCD |
| 15 - 20 Years | +9% | 13,900 XCD |
| 20+ Years | +5% | 14,600 XCD |
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 7,760 XCD per month.
While someone with a Master's Degree gets a salary of 9,610 XCD per month, 24% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 15,400 XCD per month, 60% more than someone with a Master's Degree.
Petroleum Geologist average salary difference by education level in Grenada
| Bachelor's Degree | 7,760 XCD | |
| Master's Degree | +24% | 9,610 XCD |
| PhD | +60% | 15,400 XCD |
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 Grenada costs anywhere from 31,300 East Caribbean Dollar(s) to 94,000 East Caribbean 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 Grenada earn 11% more than their female counterparts on average.
| Male | 10,800 XCD | |
| Female | -10% | 9,750 XCD |
Salary Comparison By Gender in Grenada for all Careers
Petroleum Geologist Average Annual Salary Increment Percentage in Grenada
How much are annual salary increments in Grenada for Petroleum Geologist(s)? How often do employees get salary raises?
Petroleum Geologist
Petroleum Geologist(s) in Grenada 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.
Grenada / 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 | 5% | |
| Energy | 1% | |
| Information Technology | 6% | |
| Healthcare | 2% | |
| Travel | 7% | |
| Construction | 3% | |
| Education | 8% |
Listed above are the average annual increase rates for each industry in Grenada 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 Grenada
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.
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.
| Received Bonus | 37% | |
| No Bonus | 63% |
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 Grenada
59 XCD per hourThe average hourly wage (pay per hour) in Grenada is 59 XCD. This means that the average Petroleum Geologist in Grenada earns approximately 59 XCD 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 80% 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 | 5,190 XCD |  -49% |
| Associate Analyst | 5,880 XCD | -42% |
| Associate Landman | 2,470 XCD | -76% |
| Auxiliary Equipment Operator | 2,280 XCD | -78% |
| Biomass Plant Technician | 2,750 XCD | -73% |
| Biomass Power Plant Manager | 7,770 XCD | -24% |
| Chemical Plant Operator | 4,560 XCD | -55% |
| Chief Contract Compliance Engineer | 5,660 XCD | -44% |
| Completions Engineer | 5,450 XCD | -46% |
| Cost Controller | 4,160 XCD | -59% |
| Crude Oil Marketing Representative | 5,910 XCD | -42% |
| Dispatcher | 2,310 XCD | -77% |
| Distribution Manager | 7,540 XCD | -26% |
| Dragline Operator | 2,720 XCD | -73% |
| Driller Offsider | 2,060 XCD | -80% |
| Dump Truck Driver | 2,100 XCD | -79% |
| Electric and Gas Operations Manager | 13,100 XCD |  +29% |
| Energy Advisor | 8,600 XCD | -15% |
| Energy Analyst | 8,160 XCD | -20% |
| Energy Auditor | 7,090 XCD | -30% |
| Energy Dispatch Director | 9,740 XCD | -4% |
| Energy Technical Assistant | 3,580 XCD | -65% |
| Energy Technical Manager | 6,600 XCD | -35% |
| Energy Technical Trainer | 4,610 XCD | -55% |
| Exploration Manager | 9,750 XCD | -4% |
| Field Safety Auditor | 6,450 XCD | -37% |
| Fluids Engineer | 5,250 XCD | -48% |
| Fuel Cell Engineer | 5,670 XCD | -44% |
| Fuel Cell Technician | 2,670 XCD | -74% |
| Fuels Handler | 2,560 XCD | -75% |
| Gas Compressor Operator | 2,360 XCD | -77% |
| Gas Distribution Plant Operator | 4,310 XCD | -58% |
| Gas Supply Manager | 8,240 XCD | -19% |
| Geologist | 9,600 XCD | -6% |
| Geophysicist | 9,740 XCD | -4% |
| Geothermal Production Manager | 9,360 XCD | -8% |
| Geothermal Technician | 3,780 XCD | -63% |
| HSE Engineer | 5,420 XCD | -47% |
| HSE Officer | 3,250 XCD | -68% |
| HSEQ Administrator | 3,970 XCD | -61% |
| Inspector | 4,980 XCD | -51% |
| Instructor | 4,350 XCD | -57% |
| Instrument Designer | 4,440 XCD | -56% |
| Lead Technical Field Advisor | 7,070 XCD | -31% |
| Logistics and Tool Coordinator | 4,650 XCD | -54% |
| Maintenance Engineer | 5,490 XCD | -46% |
| Maintenance Superintendent | 4,980 XCD | -51% |
| Material Controller | 3,590 XCD | -65% |
| Mine Engineer | 5,090 XCD | -50% |
| Mine Surveyor | 6,330 XCD | -38% |
| Mining Project Administrator | 4,900 XCD | -52% |
| Mining Project Assistant | 3,740 XCD | -63% |
| Mining Project Controls Consultant | 5,830 XCD | -43% |
| Mining Project Coordinator | 4,700 XCD | -54% |
| Mining Project Engineer | 5,390 XCD | -47% |
| Mining Project Manager | 6,840 XCD | -33% |
| Mining Site Manager | 7,320 XCD | -28% |
| Mining Team Leader | 5,960 XCD | -41% |
| NDT Technician | 3,500 XCD | -66% |
| Oil Service Unit Operator | 2,950 XCD | -71% |
| Oil Trader | 7,380 XCD | -27% |
| Oilwell Pumper | 2,160 XCD | -79% |
| Petroleum Engineer | 6,010 XCD | -41% |
| Petroleum Geologist | 10,200 XCD | +0% |
| Petroleum Pump System Operator | 2,980 XCD | -71% |
| Pipeline Technician | 2,140 XCD | -79% |
| Power Coordinator | 3,390 XCD | -67% |
| Power Plant Operations Manager | 10,800 XCD | +6% |
| Power Plant Operator | 4,340 XCD | -57% |
| Radio Operator | 2,380 XCD | -77% |
| Reliability Engineer | 5,310 XCD | -48% |
| Reservoir Engineer | 5,090 XCD | -50% |
| Risk Analyst | 6,590 XCD | -35% |
| Roughneck | 5,740 XCD | -44% |
| Scaffolder | 3,720 XCD | -63% |
| Shutdown Engineer | 4,470 XCD | -56% |
| Solar Energy Installation Manager | 7,870 XCD | -23% |
| Solar Energy Systems Engineer | 5,460 XCD | -46% |
| Solar Photovoltaic Installer | 3,760 XCD | -63% |
| Solar Thermal Technician | 3,520 XCD | -65% |
| Supply Operations Manager | 9,070 XCD | -11% |
| Sustainability Specialist | 9,120 XCD | -10% |
| System Development Advisor | 6,380 XCD | -37% |
| Tanker Truck Driver | 2,170 XCD | -79% |
| Utility Operator | 3,080 XCD | -70% |
| Wind Energy Project Manager | 7,670 XCD | -25% |
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 Grenada earn 7% more than their private sector counterparts on average across all sectors.
| Private Sector | 6,020 XCD | |
| Public Sector | +7% | 6,450 XCD |
