Oil / Gas / Energy / Mining Average Salaries in Bahamas 2023
How much money does a person working in Oil / Gas / Energy / Mining make in Bahamas?
LOW
15,300
BSD AVERAGE
42,100
BSD HIGH
97,400
BSD
A person working in Oil / Gas / Energy / Mining in Bahamas typically earns around 42,100 BSD per year. Salaries range from 15,300 BSD (lowest average) to 97,400 BSD (highest average, actual maximum salary is higher).
This is the average yearly 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.
Salaries for specific jobs
| Job Title | Average Salary |
| Assistant Yard Manager | 43,200 BSD |
| Associate Analyst | 49,400 BSD |
| Associate Landman | 20,800 BSD |
| Auxiliary Equipment Operator | 18,400 BSD |
| Biomass Plant Technician | 20,700 BSD |
| Biomass Power Plant Manager | 60,300 BSD |
| Chemical Plant Operator | 37,200 BSD |
| Chief Contract Compliance Engineer | 48,000 BSD |
| Completions Engineer | 41,100 BSD |
| Cost Controller | 31,300 BSD |
| Crude Oil Marketing Representative | 49,200 BSD |
| Dispatcher | 18,300 BSD |
| Distribution Manager | 59,100 BSD |
| Dragline Operator | 20,900 BSD |
| Driller Offsider | 15,700 BSD |
| Dump Truck Driver | 17,200 BSD |
| Electric and Gas Operations Manager | 99,800 BSD |
| Energy Advisor | 70,800 BSD |
| Energy Analyst | 62,800 BSD |
| Energy Auditor | 56,200 BSD |
| Energy Dispatch Director | 76,400 BSD |
| Energy Technical Assistant | 28,400 BSD |
| Energy Technical Manager | 55,000 BSD |
| Energy Technical Trainer | 39,900 BSD |
| Exploration Manager | 78,700 BSD |
| Field Safety Auditor | 48,100 BSD |
| Fluids Engineer | 41,200 BSD |
| Fuel Cell Engineer | 45,400 BSD |
| Fuel Cell Technician | 22,000 BSD |
| Fuels Handler | 21,300 BSD |
| Gas Compressor Operator | 19,100 BSD |
| Gas Distribution Plant Operator | 35,900 BSD |
| Gas Supply Manager | 63,900 BSD |
| Geologist | 76,800 BSD |
| Geophysicist | 84,300 BSD |
| Geothermal Production Manager | 74,800 BSD |
| Geothermal Technician | 31,100 BSD |
| HSE Engineer | 44,700 BSD |
| HSE Officer | 27,600 BSD |
| HSEQ Administrator | 32,400 BSD |
| Inspector | 39,800 BSD |
| Instructor | 37,700 BSD |
| Instrument Designer | 35,200 BSD |
| Lead Technical Field Advisor | 60,000 BSD |
| Logistics and Tool Coordinator | 37,900 BSD |
| Maintenance Engineer | 45,300 BSD |
| Maintenance Superintendent | 39,000 BSD |
| Material Controller | 29,300 BSD |
| Mine Engineer | 42,000 BSD |
| Mine Surveyor | 48,700 BSD |
| Mining Project Administrator | 38,800 BSD |
| Mining Project Assistant | 32,400 BSD |
| Mining Project Controls Consultant | 47,100 BSD |
| Mining Project Coordinator | 37,200 BSD |
| Mining Project Engineer | 43,500 BSD |
| Mining Project Manager | 54,700 BSD |
| Mining Site Manager | 56,800 BSD |
| Mining Team Leader | 44,800 BSD |
| NDT Technician | 26,400 BSD |
| Oil Service Unit Operator | 22,900 BSD |
| Oil Trader | 55,100 BSD |
| Oilwell Pumper | 16,600 BSD |
| Petroleum Engineer | 47,600 BSD |
| Petroleum Geologist | 80,600 BSD |
| Petroleum Pump System Operator | 24,300 BSD |
| Pipeline Technician | 17,500 BSD |
| Power Coordinator | 27,100 BSD |
| Power Plant Operations Manager | 82,100 BSD |
| Power Plant Operator | 37,200 BSD |
| Radio Operator | 20,000 BSD |
| Reliability Engineer | 41,200 BSD |
| Reservoir Engineer | 42,400 BSD |
| Risk Analyst | 54,300 BSD |
| Roughneck | 43,700 BSD |
| Scaffolder | 27,500 BSD |
| Shutdown Engineer | 36,500 BSD |
| Solar Energy Installation Manager | 63,600 BSD |
| Solar Energy Systems Engineer | 45,500 BSD |
| Solar Photovoltaic Installer | 29,200 BSD |
| Solar Thermal Technician | 28,200 BSD |
| Supply Operations Manager | 71,900 BSD |
| Sustainability Specialist | 67,300 BSD |
| System Development Advisor | 51,500 BSD |
| Tanker Truck Driver | 16,800 BSD |
| Utility Operator | 23,200 BSD |
| Wind Energy Project Manager | 58,900 BSD |
Oil / Gas / Energy / Mining Jobs Pay Scale and Salaries in Bahamas
Salary Structure and Pay Scale Comparison
47,200 BSD or more
39,100 to 47,200 BSD
21,400 BSD or less
21,400 to 39,100 BSD
 15,300 BSD |
37,300 BSD |
97,400 BSD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Oil / Gas / Energy / Mining salaries in Bahamas range from 15,300 BSD per year (starting average salary) to 97,400 BSD per year (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
Median Salary
The median salary is 37,300 BSD per year, which means that half (50%) of people working in Oil / Gas / Energy / Mining are earning less than 37,300 BSD while the other half are earning more than 37,300 BSD. 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 and Salary Scale
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 28,600 BSD while 75% of them are earning more than 28,600 BSD. Also from the diagram, 75% of people working in Oil / Gas / Energy / Mining are earning less than 46,700 BSD while 25% are earning more than 46,700 BSD.
Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 21,400 BSD to 39,100 BSD. Approximatly 20% fall under the 21,400 BSD cap. Ten percent of wages are from 39,100 BSD to 47,200 BSD. Only 5% of people grossed 47,200 BSD or more.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Bahamas costs anywhere from 19,500 Bahamian Dollar(s) to 58,400 Bahamian 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.
Salary and Compensation Comparison By Gender - Oil / Gas / Energy / Mining
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Bahamas who work in Oil / Gas / Energy / Mining earn 11% more than their female counterparts on average.
| Male | 44,800 BSD | |
| Female | -10% | 40,300 BSD |
Salary Comparison By Gender in Bahamas for all Careers
Oil / Gas / Energy / Mining Average Annual Salary Increment Percentage in Bahamas
How much are annual salary increments in Bahamas for Oil / Gas / Energy / Mining professionals? How often do employees get salary raises?
Oil / Gas / Energy / Mining
Oil / Gas / Energy / Mining professionals in Bahamas 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.
Bahamas / 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 2022
| Banking | 7% | |
| Energy | 5% | |
| Information Technology | 3% | |
| Healthcare | 1% | |
| Travel | 8% | |
| Construction | 6% | |
| Education | 4% |
Listed above are the average annual increase rates for each industry in Bahamas for the year 2022. 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
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Oil / Gas / Energy / Mining Bonus and Incentive Rates in Bahamas
How much and how often are bonuses being awarded?
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Oil / Gas / Energy / Mining is considered to be a moderate bonus-based field. 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.
| Received Bonus | 33% | |
| No Bonus | 67% |
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.
Oil / Gas / Energy / Mining Salary Forecast and Trend in Bahamas
How do Oil / Gas / Energy / Mining salaries change over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 37,400 BSD | |
| Average Salary 2020 | +4% | 38,700 BSD |
| Average Salary 2021 | +2% | 39,500 BSD |
| Average Salary 2022 | +3% | 40,600 BSD |
Oil / Gas / Energy / Mining salaries in Bahamas are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 3% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
Oil / Gas / Energy / Mining Hourly Average Wage in Bahamas
20 BSD per hourThe average hourly wage (pay per hour) in Bahamas is 20 BSD. This means that the average person in Bahamas earns approximately 20 BSD for every worked hour.
About The Hourly Pay Rate
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.
What is the minimum hourly rate of pay?
This minimum pay rate per hour for a person in Bahamas is 7 BSD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Oil / Gas / Energy / Mining VS Other Jobs
The average salary for Oil / Gas / Energy / Mining is 10% less than that of All Jobs.
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 Bahamas earn 10% more than their private sector counterparts on average across all sectors.
| Private Sector | 45,300 BSD | |
| Public Sector | +10% | 50,000 BSD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for Oil / Gas / Energy / Mining in Bahamas?
A good and competitive compensation would range anywhere between 37,300 BSD and 46,700 BSD. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.
Base / Basic Salary
The base salary for Oil / Gas / Energy / Mining in Bahamas is ranges from 28,600 BSD to 46,700 BSD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.
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
