Petroleum Geologist Average Salary in Guyana 2022
How much money does a Petroleum Geologist make in Guyana?
LOW
131,000
GYD AVERAGE
286,000
GYD HIGH
454,000
GYD
A person working as a Petroleum Geologist in Guyana typically earns around 286,000 GYD per month. Salaries range from 131,000 GYD (lowest) to 454,000 GYD (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 Guyana
The median, the maximum, the minimum, and the range
Salary Range
Petroleum Geologist salaries in Guyana range from 131,000 GYD per month (minimum salary) to 454,000 GYD per month (maximum salary).
Median Salary
The median salary is 309,000 GYD per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 309,000 GYD while the other half are earning more than 309,000 GYD. 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 198,000 GYD while 75% of them are earning more than 198,000 GYD. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 412,000 GYD while 25% are earning more than 412,000 GYD.
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 149,000 GYD per month.
While someone with an experience level between two and five years is expected to earn 199,000 GYD 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 294,000 GYD per month, 48% 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 359,000 GYD per month, 22% 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 391,000 GYD 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 424,000 GYD per month, 8% more than people with fifteen to twenty years of experience.
Petroleum Geologist average salary change by experience in Guyana
| 0 - 2 Years | 149,000 GYD | |
| 2 - 5 Years | +34% | 199,000 GYD |
| 5 - 10 Years | +48% | 294,000 GYD |
| 10 - 15 Years | +22% | 359,000 GYD |
| 15 - 20 Years | +9% | 391,000 GYD |
| 20+ Years | +8% | 424,000 GYD |
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 170,000 GYD per month.
While someone with a Master's Degree gets a salary of 267,000 GYD per month, 57% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 448,000 GYD per month, 68% more than someone with a Master's Degree.
Petroleum Geologist average salary difference by education level in Guyana
| Bachelor's Degree | 170,000 GYD | |
| Master's Degree | +57% | 267,000 GYD |
| PhD | +68% | 448,000 GYD |
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 Guyana costs anywhere from 876,000 Guyana Dollar(s) to 2,630,000 Guyana 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 Guyana earn 12% more than their female counterparts on average.
| Male | 302,000 GYD | |
| Female | -11% | 270,000 GYD |
Salary Comparison By Gender in Guyana for all Careers
Petroleum Geologist Average Annual Salary Increment Percentage in Guyana
How much are annual salary increments in Guyana for Petroleum Geologist(s)? How often do employees get salary raises?
Petroleum Geologist
Petroleum Geologist(s) in Guyana 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.
Guyana / 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 | 3% | |
| Energy | 6% | |
| Information Technology | 9% | |
| Healthcare | 3% | |
| Travel | 6% | |
| Construction | 9% | |
| Education | 3% |
Listed above are the average annual increase rates for each industry in Guyana 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 Guyana
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.
57% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 43% 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.
| Received Bonus | 43% | |
| No Bonus | 57% |
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 Guyana
1,650 GYD per hourThe average hourly wage (pay per hour) in Guyana is 1,650 GYD. This means that the average Petroleum Geologist in Guyana earns approximately 1,650 GYD 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 81% 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 | 150,000 GYD |  -48% |
| Associate Analyst | 169,000 GYD | -41% |
| Associate Landman | 71,100 GYD | -75% |
| Auxiliary Equipment Operator | 64,400 GYD | -77% |
| Biomass Plant Technician | 73,800 GYD | -74% |
| Biomass Power Plant Manager | 210,000 GYD | -27% |
| Chemical Plant Operator | 129,000 GYD | -55% |
| Chief Contract Compliance Engineer | 163,000 GYD | -43% |
| Completions Engineer | 145,000 GYD | -49% |
| Cost Controller | 116,000 GYD | -59% |
| Crude Oil Marketing Representative | 160,000 GYD | -44% |
| Dispatcher | 66,200 GYD | -77% |
| Distribution Manager | 206,000 GYD | -28% |
| Dragline Operator | 75,800 GYD | -73% |
| Driller Offsider | 54,700 GYD | -81% |
| Dump Truck Driver | 60,700 GYD | -79% |
| Electric and Gas Operations Manager | 348,000 GYD |  +22% |
| Energy Advisor | 231,000 GYD | -19% |
| Energy Analyst | 217,000 GYD | -24% |
| Energy Auditor | 190,000 GYD | -34% |
| Energy Dispatch Director | 261,000 GYD | -9% |
| Energy Technical Assistant | 99,700 GYD | -65% |
| Energy Technical Manager | 190,000 GYD | -34% |
| Energy Technical Trainer | 127,000 GYD | -56% |
| Exploration Manager | 262,000 GYD | -8% |
| Field Safety Auditor | 172,000 GYD | -40% |
| Fluids Engineer | 143,000 GYD | -50% |
| Fuel Cell Engineer | 156,000 GYD | -45% |
| Fuel Cell Technician | 73,900 GYD | -74% |
| Fuels Handler | 69,400 GYD | -76% |
| Gas Compressor Operator | 68,200 GYD | -76% |
| Gas Distribution Plant Operator | 126,000 GYD | -56% |
| Gas Supply Manager | 225,000 GYD | -21% |
| Geologist | 264,000 GYD | -8% |
| Geophysicist | 282,000 GYD | -1% |
| Geothermal Production Manager | 268,000 GYD | -6% |
| Geothermal Technician | 109,000 GYD | -62% |
| HSE Engineer | 156,000 GYD | -45% |
| HSE Officer | 94,300 GYD | -67% |
| HSEQ Administrator | 107,000 GYD | -63% |
| Inspector | 144,000 GYD | -50% |
| Instructor | 126,000 GYD | -56% |
| Instrument Designer | 119,000 GYD | -58% |
| Lead Technical Field Advisor | 193,000 GYD | -32% |
| Logistics and Tool Coordinator | 134,000 GYD | -53% |
| Maintenance Engineer | 150,000 GYD | -48% |
| Maintenance Superintendent | 141,000 GYD | -51% |
| Material Controller | 98,600 GYD | -65% |
| Mine Engineer | 141,000 GYD | -51% |
| Mine Surveyor | 168,000 GYD | -41% |
| Mining Project Administrator | 139,000 GYD | -51% |
| Mining Project Assistant | 108,000 GYD | -62% |
| Mining Project Controls Consultant | 170,000 GYD | -41% |
| Mining Project Coordinator | 129,000 GYD | -55% |
| Mining Project Engineer | 153,000 GYD | -46% |
| Mining Project Manager | 198,000 GYD | -31% |
| Mining Site Manager | 198,000 GYD | -31% |
| Mining Team Leader | 160,000 GYD | -44% |
| NDT Technician | 93,200 GYD | -67% |
| Oil Service Unit Operator | 83,000 GYD | -71% |
| Oil Trader | 197,000 GYD | -31% |
| Oilwell Pumper | 60,100 GYD | -79% |
| Petroleum Engineer | 174,000 GYD | -39% |
| Petroleum Geologist | 286,000 GYD | +0% |
| Petroleum Pump System Operator | 81,800 GYD | -71% |
| Pipeline Technician | 60,600 GYD | -79% |
| Power Coordinator | 92,200 GYD | -68% |
| Power Plant Operations Manager | 308,000 GYD | +8% |
| Power Plant Operator | 120,000 GYD | -58% |
| Radio Operator | 68,500 GYD | -76% |
| Reliability Engineer | 153,000 GYD | -46% |
| Reservoir Engineer | 138,000 GYD | -52% |
| Risk Analyst | 181,000 GYD | -37% |
| Roughneck | 162,000 GYD | -43% |
| Scaffolder | 99,200 GYD | -65% |
| Shutdown Engineer | 129,000 GYD | -55% |
| Solar Energy Installation Manager | 227,000 GYD | -21% |
| Solar Energy Systems Engineer | 159,000 GYD | -44% |
| Solar Photovoltaic Installer | 99,700 GYD | -65% |
| Solar Thermal Technician | 94,100 GYD | -67% |
| Supply Operations Manager | 245,000 GYD | -14% |
| Sustainability Specialist | 243,000 GYD | -15% |
| System Development Advisor | 180,000 GYD | -37% |
| Tanker Truck Driver | 61,600 GYD | -78% |
| Utility Operator | 82,000 GYD | -71% |
| Wind Energy Project Manager | 218,000 GYD | -24% |
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 Guyana earn 14% more than their private sector counterparts on average across all sectors.
| Private Sector | 166,000 GYD | |
| Public Sector | +14% | 189,000 GYD |
