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Petroleum Geologist Average Salary in Montenegro 2021

How much money does a Petroleum Geologist make in Montenegro?


Average Monthly Salary
4,230 EUR
( 50,800 EUR yearly)

LOW
1,950
EUR
AVERAGE
4,230
EUR
HIGH
6,730
EUR

A person working as a Petroleum Geologist in Montenegro typically earns around 4,230 EUR per month. Salaries range from 1,950 EUR (lowest) to 6,730 EUR (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 Montenegro

Median and salary distribution monthly Montenegro Petroleum Geologist
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The median, the maximum, the minimum, and the range

  • Salary Range

    Petroleum Geologist salaries in Montenegro range from 1,950 EUR per month (minimum salary) to 6,730 EUR per month (maximum salary).

  • Median Salary

    The median salary is 4,570 EUR per month, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 4,570 EUR while the other half are earning more than 4,570 EUR. 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 2,930 EUR while 75% of them are earning more than 2,930 EUR. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 6,100 EUR while 25% are earning more than 6,100 EUR.


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?

Salary comparison by years of experience monthly Montenegro Petroleum Geologist
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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 2,210 EUR per month.

While someone with an experience level between two and five years is expected to earn 2,950 EUR 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 4,360 EUR per month, 48% more than someone with two to five years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Additionally, Petroleum Geologist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 5,320 EUR 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 5,800 EUR 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 6,280 EUR per month, 8% more than people with fifteen to twenty years of experience.


Petroleum Geologist average salary change by experience in Montenegro

0 - 2 Years
2,210 EUR
2 - 5 Years+34%
2,950 EUR
5 - 10 Years+48%
4,360 EUR
10 - 15 Years+22%
5,320 EUR
15 - 20 Years+9%
5,800 EUR
20+ Years+8%
6,280 EUR
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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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.

Salary comparison by education level monthly Montenegro Petroleum Geologist
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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 2,520 EUR per month.

While someone with a Master's Degree gets a salary of 3,960 EUR per month, 57% more than someone having a Bachelor's Degree degree.

A PhD gets its holder an average salary of 6,630 EUR per month, 68% more than someone with a Master's Degree.


Petroleum Geologist average salary difference by education level in Montenegro

Bachelor's Degree
2,520 EUR
Master's Degree+57%
3,960 EUR
PhD+68%
6,630 EUR
Percentage increase and decrease are relative to the previous value

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 Montenegro costs anywhere from 13,400 Euro(s) to 40,100 Euro(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

Salary Comparison By Education Level
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Petroleum Geologist Salary Comparison By Gender

Salary comparison by gender monthly Montenegro Petroleum Geologist
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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 Montenegro earn 9% more than their female counterparts on average.

Male
4,410 EUR
Female-8%
4,060 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Montenegro for all Careers

Salary comparison by gender monthly Montenegro
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Petroleum Geologist Average Annual Salary Increment Percentage in Montenegro

How much are annual salary increments in Montenegro for Petroleum Geologist(s)? How often do employees get salary raises?

Petroleum Geologist

Petroleum Geologist(s) in Montenegro 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.

Annual Salary Increment Rate Montenegro Petroleum Geologist
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Montenegro / 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

The average salary increase in one year (12 months) in Montenegro is 2%.

Annual Increment Rate By Industry 2020

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Listed above are the average annual increase rates for each industry in Montenegro for the year 2020. 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

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Petroleum Geologist Bonus and Incentive Rates in Montenegro

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Montenegro Petroleum Geologist
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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 Bonuses

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.

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 GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

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 Montenegro


24 EUR per hour

The average hourly wage (pay per hour) in Montenegro is 24 EUR. This means that the average Petroleum Geologist in Montenegro earns approximately 24 EUR for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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

Salary Comparison Between Petroleum Geologist and Oil  / Gas / Energy / Mining monthly Montenegro
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The average salary for Petroleum Geologist is 76% 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 TitleAverage Salary
Assistant Yard Manager2,270 EUR-46%
Associate Analyst2,590 EUR-39%
Associate Landman1,090 EUR-74%
Auxiliary Equipment Operator1,000 EUR-76%
Biomass Plant Technician1,230 EUR-71%
Biomass Power Plant Manager3,320 EUR-22%
Chemical Plant Operator2,010 EUR-53%
Chief Contract Compliance Engineer2,500 EUR-41%
Completions Engineer2,340 EUR-45%
Cost Controller1,780 EUR-58%
Crude Oil Marketing Representative2,740 EUR-35%
Dispatcher1,040 EUR-75%
Distribution Manager3,380 EUR-20%
Dragline Operator1,180 EUR-72%
Driller Offsider890 EUR-79%
Dump Truck Driver1,000 EUR-76%
Electric and Gas Operations Manager5,660 EUR+34%
Energy Advisor3,810 EUR-10%
Energy Analyst3,540 EUR-16%
Energy Auditor2,950 EUR-30%
Energy Dispatch Director4,030 EUR-5%
Energy Technical Assistant1,580 EUR-63%
Energy Technical Manager2,890 EUR-32%
Energy Technical Trainer2,150 EUR-49%
Exploration Manager4,270 EUR+1%
Field Safety Auditor2,750 EUR-35%
Fluids Engineer2,350 EUR-44%
Fuel Cell Engineer2,680 EUR-37%
Fuel Cell Technician1,210 EUR-71%
Fuels Handler1,190 EUR-72%
Gas Compressor Operator1,120 EUR-74%
Gas Distribution Plant Operator1,960 EUR-54%
Gas Supply Manager3,670 EUR-13%
Geologist4,530 EUR+7%
Geophysicist4,540 EUR+7%
Geothermal Production Manager4,240 EUR+0%
Geothermal Technician1,640 EUR-61%
HSE Engineer2,350 EUR-44%
HSE Officer1,500 EUR-65%
HSEQ Administrator1,750 EUR-59%
Inspector2,350 EUR-44%
Instructor2,030 EUR-52%
Instrument Designer1,850 EUR-56%
Lead Technical Field Advisor3,130 EUR-26%
Logistics and Tool Coordinator2,220 EUR-48%
Maintenance Engineer2,390 EUR-44%
Maintenance Superintendent2,140 EUR-49%
Material Controller1,720 EUR-59%
Mine Engineer2,310 EUR-45%
Mine Surveyor2,750 EUR-35%
Mining Project Administrator2,120 EUR-50%
Mining Project Assistant1,740 EUR-59%
Mining Project Controls Consultant2,610 EUR-38%
Mining Project Coordinator2,210 EUR-48%
Mining Project Engineer2,360 EUR-44%
Mining Project Manager3,230 EUR-24%
Mining Site Manager3,130 EUR-26%
Mining Team Leader2,660 EUR-37%
NDT Technician1,500 EUR-65%
Oil Service Unit Operator1,340 EUR-68%
Oil Trader3,150 EUR-26%
Oilwell Pumper940 EUR-78%
Petroleum Engineer 2,820 EUR-33%
Petroleum Geologist4,230 EUR-0%
Petroleum Pump System Operator1,420 EUR-66%
Pipeline Technician950 EUR-78%
Power Coordinator1,540 EUR-64%
Power Plant Operations Manager4,560 EUR+8%
Power Plant Operator2,010 EUR-53%
Radio Operator1,050 EUR-75%
Reliability Engineer2,370 EUR-44%
Reservoir Engineer2,360 EUR-44%
Risk Analyst2,860 EUR-32%
Roughneck2,580 EUR-39%
Scaffolder1,580 EUR-63%
Shutdown Engineer2,130 EUR-50%
Solar Energy Installation Manager3,740 EUR-12%
Solar Energy Systems Engineer2,490 EUR-41%
Solar Photovoltaic Installer1,640 EUR-61%
Solar Thermal Technician1,470 EUR-65%
Supply Operations Manager3,930 EUR-7%
Sustainability Specialist3,870 EUR-9%
System Development Advisor2,790 EUR-34%
Tanker Truck Driver930 EUR-78%
Utility Operator1,320 EUR-69%
Wind Energy Project Manager3,260 EUR-23%

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 Montenegro earn 25% more than their private sector counterparts on average across all sectors.

Private Sector
2,380 EUR
Public Sector+25%
2,970 EUR
Percentage increase and decrease are relative to the previous value

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