A person working as Petroleum Geologist in Micronesia typically earns around 2,250 USD. Salaries range from 1,170 USD (lowest) to 3,450 USD (highest).
This is the average salary including housing, transport, and other benefits. Petroleum Geologist salaries in Micronesia vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Salaries for the position Petroleum Geologist in Micronesia range from 1,170 USD (starting salary) to 3,450 USD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
With a median salary of 2,050 USD, half of the professionals who work as Petroleum Geologist in Micronesia earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Petroleum Geologist in Micronesia earn less than 1,700 USD, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,330 USD while 25% earn more.
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Petroleum Geologist in Micronesia compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,330 USD to 1,820 USD. About 20% of salaries are below the 1,330 USD mark, while 10% fall within the range of 1,820 USD to 2,040 USD. Only 5% of individuals have salaries exceeding 2,040 USD.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|15 - 20 Years||+9%|
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Petroleum Geologist and this is what we found.
Employees with less than two years of experience earn approximately 1,330 USD.
While someone with an experience level between two and five years is expected to earn 1,790 USD, 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 2,320 USD, 30% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,810 USD, 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 3,070 USD, 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 3,230 USD, 5% more than people with fifteen to twenty years of experience.
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 salaries by education level for the position Petroleum Geologist in order to make a comparison.
Employees at this education level have an average salary of 1,720 USD.
At this level, the average salary becomes 2,130 USD, 24% more than the previous level.
At this level, the average salary becomes 3,400 USD, 60% more than the previous level.
A Master's degree program or any post-graduate program in Micronesia costs anywhere from 7,020 USD to 21,100 USD 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 to a higher-paying job. The numbers seem to support the theory. 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? For the people who work as Petroleum Geologist in Micronesia, the average difference between the salary of male and female employees is 11%.
Individuals working as Petroleum Geologist in Micronesia 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 rare 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 Micronesia 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.
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.
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.
|Average Salary 2019|
|Average Salary 2020||+4%|
|Average Salary 2021||+2%|
|Average Salary 2022||+3%|
Salaries for individuals working as Petroleum Geologist in Micronesia are on the rise in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
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 fixed 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 minimum pay rate per hour for people working as Petroleum Geologist in Micronesia is 7 USD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
|Job Title||Average Salary|
|Assistant Yard Manager||1,210 USD||-46%|
|Associate Analyst||1,340 USD||-41%|
|Associate Landman||560 USD||-75%|
|Auxiliary Equipment Operator||540 USD||-76%|
|Biomass Plant Technician||610 USD||-73%|
|Biomass Power Plant Manager||1,830 USD||-19%|
|Chemical Plant Operator||1,070 USD||-53%|
|Chief Contract Compliance Engineer||1,390 USD||-38%|
|Completions Engineer||1,190 USD||-47%|
|Cost Controller||910 USD||-60%|
|Crude Oil Marketing Representative||1,350 USD||-40%|
|Distribution Manager||1,780 USD||-21%|
|Dragline Operator||630 USD||-72%|
|Driller Offsider||440 USD||-80%|
|Dump Truck Driver||510 USD||-77%|
|Electric and Gas Operations Manager||2,810 USD||+25%|
|Energy Advisor||1,960 USD||-13%|
|Energy Analyst||1,890 USD||-16%|
|Energy Auditor||1,570 USD||-30%|
|Energy Dispatch Director||2,210 USD||-2%|
|Energy Technical Assistant||780 USD||-65%|
|Energy Technical Manager||1,540 USD||-32%|
|Energy Technical Trainer||1,110 USD||-51%|
|Exploration Manager||2,330 USD||+3%|
|Field Safety Auditor||1,450 USD||-36%|
|Fluids Engineer||1,240 USD||-45%|
|Fuel Cell Engineer||1,300 USD||-42%|
|Fuel Cell Technician||650 USD||-71%|
|Fuels Handler||580 USD||-74%|
|Gas Compressor Operator||590 USD||-74%|
|Gas Distribution Plant Operator||1,020 USD||-55%|
|Gas Supply Manager||1,980 USD||-12%|
|Geothermal Production Manager||2,110 USD||-6%|
|Geothermal Technician||900 USD||-60%|
|HSE Engineer||1,290 USD||-43%|
|HSE Officer||820 USD||-64%|
|HSEQ Administrator||930 USD||-59%|
|Instrument Designer||980 USD||-57%|
|Lead Technical Field Advisor||1,740 USD||-23%|
|Logistics and Tool Coordinator||1,130 USD||-50%|
|Maintenance Engineer||1,310 USD||-42%|
|Maintenance Superintendent||1,150 USD||-49%|
|Material Controller||870 USD||-61%|
|Mine Engineer||1,240 USD||-45%|
|Mine Surveyor||1,470 USD||-35%|
|Mining Project Administrator||1,110 USD||-51%|
|Mining Project Assistant||900 USD||-60%|
|Mining Project Controls Consultant||1,480 USD||-34%|
|Mining Project Coordinator||1,110 USD||-51%|
|Mining Project Engineer||1,290 USD||-43%|
|Mining Project Manager||1,570 USD||-30%|
|Mining Site Manager||1,730 USD||-23%|
|Mining Team Leader||1,330 USD||-41%|
|NDT Technician||770 USD||-66%|
|Oil Service Unit Operator||680 USD||-70%|
|Oil Trader||1,650 USD||-27%|
|Oilwell Pumper||500 USD||-78%|
|Petroleum Engineer||1,410 USD||-37%|
|Petroleum Geologist||2,250 USD||-0%|
|Petroleum Pump System Operator||730 USD||-68%|
|Pipeline Technician||500 USD||-78%|
|Power Coordinator||760 USD||-66%|
|Power Plant Operations Manager||2,410 USD||+7%|
|Power Plant Operator||1,070 USD||-53%|
|Radio Operator||540 USD||-76%|
|Reliability Engineer||1,280 USD||-43%|
|Reservoir Engineer||1,160 USD||-49%|
|Risk Analyst||1,570 USD||-30%|
|Shutdown Engineer||1,090 USD||-52%|
|Solar Energy Installation Manager||1,960 USD||-13%|
|Solar Energy Systems Engineer||1,300 USD||-42%|
|Solar Photovoltaic Installer||850 USD||-62%|
|Solar Thermal Technician||760 USD||-66%|
|Supply Operations Manager||2,050 USD||-9%|
|Sustainability Specialist||2,090 USD||-7%|
|System Development Advisor||1,520 USD||-33%|
|Tanker Truck Driver||510 USD||-77%|
|Utility Operator||680 USD||-70%|
|Wind Energy Project Manager||1,850 USD||-18%|
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Micronesia is 7% on average across all career fields.
A good and competitive compensation would range anywhere between 2,050 USD and 2,330 USD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
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 salary after tax for every career.
The base salary for a careers like Petroleum Geologist in Micronesia ranges from 1,700 USD to 2,330 USD. 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 with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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
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