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Drilling Engineer Average Salary in Bahamas 2021

How much money does a Drilling Engineer make in Bahamas?


Average Yearly Salary
40,500 BSD
( 3,370 BSD monthly)

LOW
19,800
BSD
AVERAGE
40,500
BSD
HIGH
63,200
BSD

A person working as a Drilling Engineer in Bahamas typically earns around 40,500 BSD per year. Salaries range from 19,800 BSD (lowest) to 63,200 BSD (highest).

This is the average yearly salary including housing, transport, and other benefits. Drilling Engineer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Drilling Engineer Salary Distribution in Bahamas

Median and salary distribution yearly Bahamas Drilling Engineer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Drilling Engineer salaries in Bahamas range from 19,800 BSD per year (minimum salary) to 63,200 BSD per year (maximum salary).

  • Median Salary

    The median salary is 41,300 BSD per year, which means that half (50%) of people working as Drilling Engineer(s) are earning less than 41,300 BSD while the other half are earning more than 41,300 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

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Drilling Engineer(s) are earning less than 27,500 BSD while 75% of them are earning more than 27,500 BSD. Also from the diagram, 75% of Drilling Engineer(s) are earning less than 53,300 BSD while 25% are earning more than 53,300 BSD.


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

Drilling Engineer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience yearly Bahamas Drilling Engineer
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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 Drilling Engineer salaries by experience level and this is what we found.

A Drilling Engineer with less than two years of experience makes approximately 23,500 BSD per year.

While someone with an experience level between two and five years is expected to earn 30,200 BSD per year, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 41,700 BSD per year, 38% 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, Drilling Engineer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 51,700 BSD per year, 24% 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 55,400 BSD per year, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 59,000 BSD per year, 7% more than people with fifteen to twenty years of experience.


Drilling Engineer average salary change by experience in Bahamas

0 - 2 Years
23,500 BSD
2 - 5 Years+29%
30,200 BSD
5 - 10 Years+38%
41,700 BSD
10 - 15 Years+24%
51,700 BSD
15 - 20 Years+7%
55,400 BSD
20+ Years+7%
59,000 BSD
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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Drilling Engineer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Drilling Engineer(s) who have the same experience but different education levels.

Salary comparison by education level yearly Bahamas Drilling Engineer
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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 Drilling Engineer salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of a Drilling Engineer is 30,200 BSD per year.

While someone with a Bachelor's Degree gets a salary of 40,600 BSD per year, 34% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 62,300 BSD per year, 53% more than someone with a Bachelor's Degree.


Drilling Engineer average salary difference by education level in Bahamas

Certificate or Diploma
30,200 BSD
Bachelor's Degree+34%
40,600 BSD
Master's Degree+53%
62,300 BSD
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 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 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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Drilling Engineer Salary Comparison By Gender

Salary comparison by gender yearly Bahamas Drilling Engineer
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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 Drilling Engineer employees in Bahamas earn 11% more than their female counterparts on average.

Male
42,200 BSD
Female-10%
37,900 BSD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bahamas for all Careers

Salary comparison by gender yearly Bahamas
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Drilling Engineer Average Annual Salary Increment Percentage in Bahamas

How much are annual salary increments in Bahamas for Drilling Engineer(s)? How often do employees get salary raises?

Drilling Engineer

Drilling Engineer(s) in Bahamas are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Bahamas Drilling Engineer
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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.

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

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

Annual Increment Rate By Industry 2020

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 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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Drilling Engineer Bonus and Incentive Rates in Bahamas

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bahamas Drilling Engineer
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A Drilling Engineer is considered to be a low 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.

87% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 13% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
13%
No Bonus
87%

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.

Drilling Engineer Average Hourly Wage in Bahamas


19 BSD per hour

The average hourly wage (pay per hour) in Bahamas is 19 BSD. This means that the average Drilling Engineer in Bahamas earns approximately 19 BSD 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.

Drilling Engineer VS Other Jobs

Salary Comparison Between Drilling Engineer and Engineering yearly Bahamas
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The average salary for Drilling Engineer is 3% more than that of Engineering. Also, Engineering salaries are 16% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Acoustics Engineer40,400 BSD-0%
Assembly Engineering Technician32,700 BSD-19%
Assistant Chief Engineer48,200 BSD+19%
Associate Engineer36,900 BSD-9%
Autocad Operator26,600 BSD-34%
Automation Engineer46,500 BSD+15%
Avionic System Support Engineer40,600 BSD+0%
Biochemical Engineer41,400 BSD+2%
BMS Engineer38,600 BSD-5%
Bridge and Lock Tender23,500 BSD-42%
Broadcast Engineer39,800 BSD-2%
CAD Design Engineer44,400 BSD+10%
CAD Designer27,300 BSD-33%
CAE Engineer41,300 BSD+2%
Ceramics Engineer40,000 BSD-1%
Civil Engineer45,900 BSD+13%
Commissioning Engineer43,000 BSD+6%
Communications Engineer44,700 BSD+10%
Condition Monitoring Engineer37,200 BSD-8%
Contract Associate Engineer42,200 BSD+4%
Control Systems Engineer42,700 BSD+5%
Controls Engineer41,500 BSD+2%
Controls Software Engineer38,900 BSD-4%
Corrosion Engineer38,800 BSD-4%
Design Engineer41,900 BSD+3%
Drafter25,800 BSD-36%
Drafting Manager48,300 BSD+19%
Drilling Engineer40,500 BSD+0%
Electrical Draughtsman21,400 BSD-47%
Electrical Engineer46,500 BSD+15%
Electrical Engineering Manager61,800 BSD+53%
Electromechanical Engineering Technologist46,200 BSD+14%
Electromechanical Equipment Assembler22,900 BSD-43%
Energy Engineer46,500 BSD+15%
Engine Assembler19,700 BSD-51%
Engineer46,200 BSD+14%
Engineering Account Manager47,700 BSD+18%
Engineering Chief Designer47,000 BSD+16%
Engineering Consultant55,600 BSD+37%
Engineering Key Account Manager61,300 BSD+51%
Engineering Lab Technician39,600 BSD-2%
Engineering Planning Manager59,300 BSD+46%
Engineering Production Manager74,200 BSD+83%
Engineering Project Analyst51,200 BSD+26%
Engineering Project Coordinator 49,000 BSD+21%
Engineering Project Director83,500 BSD+110%
Engineering Project Manager62,000 BSD+53%
Engineering Research and Development Manager70,700 BSD+75%
Engineering Safety Coordinator33,700 BSD-17%
Engineering Sales Manager55,400 BSD+37%
Engineering Technician34,400 BSD-15%
Engineering Technologist34,500 BSD-15%
Environmental Engineer43,500 BSD+7%
Equipment Engineer37,200 BSD-8%
Equipment Engineering Manager54,700 BSD+35%
Estimator36,400 BSD-10%
Fabrication Specialist31,500 BSD-22%
Fabricator18,600 BSD-54%
Facade Engineer40,000 BSD-1%
Fiber Analyst25,300 BSD-38%
Field Engineer43,800 BSD+8%
Field Engineering Manager72,400 BSD+79%
Fire Engineer42,400 BSD+5%
Fitter and Turner13,800 BSD-66%
Forestry Strategic Planner49,400 BSD+22%
Generation Engineer42,600 BSD+5%
Genetic Engineer48,000 BSD+19%
Geological Engineer45,100 BSD+11%
Geotechnical Engineer46,400 BSD+15%
Heavy Equipment Mechanic21,600 BSD-47%
Highway Engineer44,100 BSD+9%
HSE Professional41,100 BSD+2%
HVAC Engineer43,300 BSD+7%
HVAC Supervisor38,800 BSD-4%
Industrial Engineer39,800 BSD-2%
Industrial Engineering Technologist41,500 BSD+2%
Instrument Engineer40,000 BSD-1%
Instrumentation and Control Engineer40,000 BSD-1%
Instrumentation Engineer41,500 BSD+2%
Instrumentation Manager41,400 BSD+2%
Irrigation Engineer40,800 BSD+1%
Licensed Aircraft Engineer45,800 BSD+13%
Locomotive Engineer39,800 BSD-2%
Maintenance Engineer40,000 BSD-1%
Maintenance Fitter15,000 BSD-63%
Maintenance Manager43,600 BSD+8%
Manufacturing Engineer41,800 BSD+3%
Marine Engineer44,300 BSD+9%
Materials Engineer39,700 BSD-2%
Materials Researcher41,300 BSD+2%
Materials Technician30,700 BSD-24%
Mechanical and Electrical Engineer46,000 BSD+14%
Mechanical Design Engineer45,800 BSD+13%
Mechanical Designer37,700 BSD-7%
Mechanical Engineer43,800 BSD+8%
Mechanical Engineering Manager58,700 BSD+45%
Mechanical Inspector39,300 BSD-3%
Mechatronics Engineer44,200 BSD+9%
Mining Engineer40,400 BSD-0%
Oil and Petrochemical Engineer47,100 BSD+16%
Optical Engineer43,000 BSD+6%
Optical Instrument Assembler20,600 BSD-49%
PCB Assembler15,900 BSD-61%
Photonics Engineer48,800 BSD+21%
Photonics Technician36,600 BSD-10%
Pipeline Engineer38,300 BSD-5%
Piping Designer23,100 BSD-43%
Piping Engineer39,600 BSD-2%
Planning Engineer41,400 BSD+2%
Pressure Vessel Inspector20,100 BSD-50%
Principal Cost Engineer44,200 BSD+9%
Principal Engineer41,000 BSD+1%
Principal Support Engineer41,700 BSD+3%
Process Engineer43,400 BSD+7%
Process Operator24,400 BSD-40%
Product Development Engineer46,300 BSD+14%
Product Development Technician31,600 BSD-22%
Product Engineer42,600 BSD+5%
Product Safety Engineer41,400 BSD+2%
Production Engineer40,700 BSD+1%
Project Engineer44,000 BSD+9%
Proposal Manager57,400 BSD+42%
Purchasing Engineer38,800 BSD-4%
Quality Assurance Engineer41,900 BSD+3%
Rail Engineer43,300 BSD+7%
Robotics Engineer46,400 BSD+15%
Robotics Technician34,200 BSD-16%
Safety Engineer43,600 BSD+8%
Safety Inspector34,400 BSD-15%
Safety Manager48,700 BSD+20%
Safety Officer21,200 BSD-48%
Sales Engineer46,200 BSD+14%
Scheduling Engineer38,300 BSD-5%
Service Engineer45,600 BSD+13%
Solar Engineer43,800 BSD+8%
Staff Engineer41,700 BSD+3%
Static Equipment Engineer40,500 BSD+0%
Stationary Engineer37,700 BSD-7%
Stress Engineer40,200 BSD-1%
Structural Analysis Engineer43,000 BSD+6%
Structural Designer38,000 BSD-6%
Structural Engineer43,700 BSD+8%
Structural Technician26,300 BSD-35%
Supply Chain Specialist42,200 BSD+4%
Surveyor32,200 BSD-20%
Technical Affairs Officer21,700 BSD-46%
Technical Assistant20,600 BSD-49%
Technical Engineer35,200 BSD-13%
Technical Support Engineer37,200 BSD-8%
Tender Engineer39,600 BSD-2%
Test Development Engineer41,700 BSD+3%
Transportation Engineer42,000 BSD+4%
Validation Engineer37,200 BSD-8%
Verification Engineer40,600 BSD+0%
Wastewater Engineer42,500 BSD+5%
Wind Energy Engineer44,500 BSD+10%
Wind Energy Operations Manager59,100 BSD+46%
Work Planner30,300 BSD-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 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
Percentage increase and decrease are relative to the previous value

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