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Drilling Engineer Average Salary in Turks and Caicos Islands 2021

How much money does a Drilling Engineer make in Turks and Caicos Islands?


Average Monthly Salary
1,290 USD
( 15,400 USD yearly)

LOW
630
USD
AVERAGE
1,290
USD
HIGH
2,010
USD

A person working as a Drilling Engineer in Turks and Caicos Islands typically earns around 1,290 USD per month. Salaries range from 630 USD (lowest) to 2,010 USD (highest).

This is the average monthly 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 Turks and Caicos Islands

Median and salary distribution monthly Turks and Caicos Islands Drilling Engineer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Drilling Engineer salaries in Turks and Caicos Islands range from 630 USD per month (minimum salary) to 2,010 USD per month (maximum salary).

  • Median Salary

    The median salary is 1,310 USD per month, which means that half (50%) of people working as Drilling Engineer(s) are earning less than 1,310 USD while the other half are earning more than 1,310 USD. 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 870 USD while 75% of them are earning more than 870 USD. Also from the diagram, 75% of Drilling Engineer(s) are earning less than 1,690 USD while 25% are earning more than 1,690 USD.


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 monthly Turks and Caicos Islands 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 750 USD per month.

While someone with an experience level between two and five years is expected to earn 960 USD per month, 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 1,330 USD per month, 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 1,640 USD per month, 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 1,760 USD per month, 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 1,880 USD per month, 7% more than people with fifteen to twenty years of experience.


Drilling Engineer average salary change by experience in Turks and Caicos Islands

0 - 2 Years
750 USD
2 - 5 Years+29%
960 USD
5 - 10 Years+38%
1,330 USD
10 - 15 Years+24%
1,640 USD
15 - 20 Years+7%
1,760 USD
20+ Years+7%
1,880 USD
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 monthly Turks and Caicos Islands 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 960 USD per month.

While someone with a Bachelor's Degree gets a salary of 1,290 USD per month, 34% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 1,980 USD per month, 53% more than someone with a Bachelor's Degree.


Drilling Engineer average salary difference by education level in Turks and Caicos Islands

Certificate or Diploma
960 USD
Bachelor's Degree+34%
1,290 USD
Master's Degree+53%
1,980 USD
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 Turks and Caicos Islands costs anywhere from 7,430 US Dollar(s) to 22,300 US 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 monthly Turks and Caicos Islands 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 Turks and Caicos Islands earn 11% more than their female counterparts on average.

Male
1,340 USD
Female-10%
1,200 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Turks and Caicos Islands for all Careers

Salary comparison by gender monthly Turks and Caicos Islands
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Drilling Engineer Average Annual Salary Increment Percentage in Turks and Caicos Islands

How much are annual salary increments in Turks and Caicos Islands for Drilling Engineer(s)? How often do employees get salary raises?

Drilling Engineer

Drilling Engineer(s) in Turks and Caicos Islands are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Turks and Caicos Islands 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.

Turks and Caicos Islands / 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 Turks and Caicos Islands 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 Turks and Caicos Islands 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 Turks and Caicos Islands

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Turks and Caicos Islands 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 Turks and Caicos Islands


7 USD per hour

The average hourly wage (pay per hour) in Turks and Caicos Islands is 7 USD. This means that the average Drilling Engineer in Turks and Caicos Islands earns approximately 7 USD 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 monthly Turks and Caicos Islands
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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 Engineer1,290 USD+0%
Assembly Engineering Technician1,000 USD-22%
Assistant Chief Engineer1,490 USD+16%
Associate Engineer1,230 USD-4%
Autocad Operator820 USD-36%
Automation Engineer1,370 USD+6%
Avionic System Support Engineer1,230 USD-4%
Biochemical Engineer1,200 USD-7%
BMS Engineer1,250 USD-3%
Bridge and Lock Tender690 USD-46%
Broadcast Engineer1,330 USD+3%
CAD Design Engineer1,360 USD+6%
CAD Designer840 USD-35%
CAE Engineer1,310 USD+2%
Ceramics Engineer1,250 USD-3%
Civil Engineer1,440 USD+12%
Commissioning Engineer1,290 USD+0%
Communications Engineer1,510 USD+17%
Condition Monitoring Engineer1,150 USD-11%
Contract Associate Engineer1,230 USD-4%
Control Systems Engineer1,340 USD+4%
Controls Engineer1,360 USD+6%
Controls Software Engineer1,230 USD-4%
Corrosion Engineer1,190 USD-8%
Design Engineer1,320 USD+3%
Drafter810 USD-37%
Drafting Manager1,520 USD+18%
Drilling Engineer1,290 USD+0%
Electrical Draughtsman700 USD-46%
Electrical Engineer1,490 USD+16%
Electrical Engineering Manager1,990 USD+55%
Electromechanical Engineering Technologist1,420 USD+10%
Electromechanical Equipment Assembler710 USD-45%
Energy Engineer1,340 USD+4%
Engine Assembler600 USD-53%
Engineer1,350 USD+5%
Engineering Account Manager1,530 USD+19%
Engineering Chief Designer1,560 USD+21%
Engineering Consultant1,910 USD+48%
Engineering Key Account Manager1,900 USD+48%
Engineering Lab Technician1,270 USD-1%
Engineering Planning Manager1,860 USD+45%
Engineering Production Manager2,320 USD+80%
Engineering Project Analyst1,510 USD+17%
Engineering Project Coordinator 1,490 USD+16%
Engineering Project Director2,860 USD+120%
Engineering Project Manager1,910 USD+48%
Engineering Research and Development Manager2,160 USD+68%
Engineering Safety Coordinator1,000 USD-22%
Engineering Sales Manager1,800 USD+40%
Engineering Technician1,060 USD-18%
Engineering Technologist1,070 USD-17%
Environmental Engineer1,290 USD+0%
Equipment Engineer1,230 USD-4%
Equipment Engineering Manager1,810 USD+41%
Estimator1,120 USD-13%
Fabrication Specialist960 USD-25%
Fabricator630 USD-51%
Facade Engineer1,270 USD-1%
Fiber Analyst760 USD-41%
Field Engineer1,460 USD+13%
Field Engineering Manager2,200 USD+71%
Fire Engineer1,410 USD+10%
Fitter and Turner420 USD-67%
Forestry Strategic Planner1,540 USD+20%
Generation Engineer1,310 USD+2%
Genetic Engineer1,480 USD+15%
Geological Engineer1,430 USD+11%
Geotechnical Engineer1,420 USD+10%
Heavy Equipment Mechanic710 USD-45%
Highway Engineer1,360 USD+6%
HSE Professional1,240 USD-4%
HVAC Engineer1,490 USD+16%
HVAC Supervisor1,250 USD-3%
Industrial Engineer1,240 USD-4%
Industrial Engineering Technologist1,240 USD-4%
Instrument Engineer1,330 USD+3%
Instrumentation and Control Engineer1,360 USD+6%
Instrumentation Engineer1,340 USD+4%
Instrumentation Manager1,290 USD+0%
Irrigation Engineer1,290 USD+0%
Licensed Aircraft Engineer1,380 USD+7%
Locomotive Engineer1,340 USD+4%
Maintenance Engineer1,270 USD-1%
Maintenance Fitter460 USD-64%
Maintenance Manager1,310 USD+2%
Manufacturing Engineer1,330 USD+3%
Marine Engineer1,290 USD+0%
Materials Engineer1,290 USD+0%
Materials Researcher1,280 USD-1%
Materials Technician1,020 USD-21%
Mechanical and Electrical Engineer1,510 USD+17%
Mechanical Design Engineer1,370 USD+6%
Mechanical Designer1,130 USD-12%
Mechanical Engineer1,430 USD+11%
Mechanical Engineering Manager1,930 USD+50%
Mechanical Inspector1,360 USD+6%
Mechatronics Engineer1,390 USD+8%
Mining Engineer1,380 USD+7%
Oil and Petrochemical Engineer1,420 USD+10%
Optical Engineer1,330 USD+3%
Optical Instrument Assembler710 USD-45%
PCB Assembler470 USD-63%
Photonics Engineer1,410 USD+10%
Photonics Technician1,170 USD-9%
Pipeline Engineer1,270 USD-1%
Piping Designer700 USD-46%
Piping Engineer1,200 USD-7%
Planning Engineer1,400 USD+9%
Pressure Vessel Inspector650 USD-49%
Principal Cost Engineer1,350 USD+5%
Principal Engineer1,360 USD+6%
Principal Support Engineer1,400 USD+9%
Process Engineer1,320 USD+3%
Process Operator760 USD-41%
Product Development Engineer1,420 USD+10%
Product Development Technician970 USD-25%
Product Engineer1,450 USD+13%
Product Safety Engineer1,280 USD-1%
Production Engineer1,370 USD+6%
Project Engineer1,360 USD+6%
Proposal Manager1,740 USD+35%
Purchasing Engineer1,260 USD-2%
Quality Assurance Engineer1,310 USD+2%
Rail Engineer1,360 USD+6%
Robotics Engineer1,460 USD+13%
Robotics Technician1,090 USD-15%
Safety Engineer1,380 USD+7%
Safety Inspector1,030 USD-20%
Safety Manager1,550 USD+20%
Safety Officer700 USD-46%
Sales Engineer1,400 USD+9%
Scheduling Engineer1,180 USD-8%
Service Engineer1,470 USD+14%
Solar Engineer1,460 USD+13%
Staff Engineer1,390 USD+8%
Static Equipment Engineer1,290 USD+0%
Stationary Engineer1,170 USD-9%
Stress Engineer1,210 USD-6%
Structural Analysis Engineer1,310 USD+2%
Structural Designer1,230 USD-4%
Structural Engineer1,340 USD+4%
Structural Technician900 USD-30%
Supply Chain Specialist1,290 USD+0%
Surveyor1,030 USD-20%
Technical Affairs Officer680 USD-47%
Technical Assistant660 USD-49%
Technical Engineer1,220 USD-5%
Technical Support Engineer1,150 USD-11%
Tender Engineer1,220 USD-5%
Test Development Engineer1,380 USD+7%
Transportation Engineer1,210 USD-6%
Validation Engineer1,170 USD-9%
Verification Engineer1,300 USD+1%
Wastewater Engineer1,290 USD+0%
Wind Energy Engineer1,420 USD+10%
Wind Energy Operations Manager1,720 USD+34%
Work Planner910 USD-29%

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 Turks and Caicos Islands earn 10% more than their private sector counterparts on average across all sectors.

Private Sector
1,440 USD
Public Sector+10%
1,590 USD
Percentage increase and decrease are relative to the previous value

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