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Drilling Engineer Average Salary in Cayman Islands 2021

How much money does a Drilling Engineer make in Cayman Islands?


Average Yearly Salary
32,600 KYD
( 2,720 KYD monthly)

LOW
16,000
KYD
AVERAGE
32,600
KYD
HIGH
50,900
KYD

A person working as a Drilling Engineer in Cayman Islands typically earns around 32,600 KYD per year. Salaries range from 16,000 KYD (lowest) to 50,900 KYD (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 Cayman Islands

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

  • Salary Range

    Drilling Engineer salaries in Cayman Islands range from 16,000 KYD per year (minimum salary) to 50,900 KYD per year (maximum salary).

  • Median Salary

    The median salary is 33,300 KYD per year, which means that half (50%) of people working as Drilling Engineer(s) are earning less than 33,300 KYD while the other half are earning more than 33,300 KYD. 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 22,200 KYD while 75% of them are earning more than 22,200 KYD. Also from the diagram, 75% of Drilling Engineer(s) are earning less than 42,900 KYD while 25% are earning more than 42,900 KYD.


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 Cayman 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 18,900 KYD per year.

While someone with an experience level between two and five years is expected to earn 24,400 KYD 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 33,600 KYD 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 41,600 KYD 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 44,600 KYD 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 47,600 KYD per year, 7% more than people with fifteen to twenty years of experience.


Drilling Engineer average salary change by experience in Cayman Islands

0 - 2 Years
18,900 KYD
2 - 5 Years+29%
24,400 KYD
5 - 10 Years+38%
33,600 KYD
10 - 15 Years+24%
41,600 KYD
15 - 20 Years+7%
44,600 KYD
20+ Years+7%
47,600 KYD
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 Cayman 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 24,400 KYD per year.

While someone with a Bachelor's Degree gets a salary of 32,700 KYD per year, 34% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 50,200 KYD per year, 53% more than someone with a Bachelor's Degree.


Drilling Engineer average salary difference by education level in Cayman Islands

Certificate or Diploma
24,400 KYD
Bachelor's Degree+34%
32,700 KYD
Master's Degree+53%
50,200 KYD
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 Cayman Islands costs anywhere from 16,200 Cayman Islands Dollar(s) to 48,600 Cayman Islands 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 Cayman 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 Cayman Islands earn 11% more than their female counterparts on average.

Male
34,000 KYD
Female-10%
30,500 KYD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Cayman Islands for all Careers

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

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

Drilling Engineer

Drilling Engineer(s) in Cayman Islands 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 Cayman 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.

Cayman 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 Cayman Islands is 2%.

Annual Increment Rate By Industry 2020

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Cayman 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 Cayman Islands

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


16 KYD per hour

The average hourly wage (pay per hour) in Cayman Islands is 16 KYD. This means that the average Drilling Engineer in Cayman Islands earns approximately 16 KYD 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 Cayman Islands
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The average salary for Drilling Engineer is 1% less than that of Engineering. Also, Engineering salaries are 16% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Acoustics Engineer33,400 KYD+2%
Assembly Engineering Technician25,800 KYD-21%
Assistant Chief Engineer39,000 KYD+20%
Associate Engineer30,700 KYD-6%
Autocad Operator21,000 KYD-36%
Automation Engineer36,500 KYD+12%
Avionic System Support Engineer32,400 KYD-1%
Biochemical Engineer31,800 KYD-2%
BMS Engineer32,500 KYD-0%
Bridge and Lock Tender18,100 KYD-44%
Broadcast Engineer34,300 KYD+5%
CAD Design Engineer33,900 KYD+4%
CAD Designer21,400 KYD-34%
CAE Engineer32,200 KYD-1%
Ceramics Engineer30,000 KYD-8%
Civil Engineer35,300 KYD+8%
Commissioning Engineer32,600 KYD-0%
Communications Engineer35,500 KYD+9%
Condition Monitoring Engineer30,100 KYD-8%
Contract Associate Engineer32,400 KYD-1%
Control Systems Engineer34,900 KYD+7%
Controls Engineer34,300 KYD+5%
Controls Software Engineer29,500 KYD-10%
Corrosion Engineer30,600 KYD-6%
Design Engineer36,400 KYD+12%
Drafter20,600 KYD-37%
Drafting Manager39,400 KYD+21%
Drilling Engineer32,600 KYD-0%
Electrical Draughtsman16,700 KYD-49%
Electrical Engineer38,400 KYD+18%
Electrical Engineering Manager47,200 KYD+45%
Electromechanical Engineering Technologist35,300 KYD+8%
Electromechanical Equipment Assembler17,900 KYD-45%
Energy Engineer37,300 KYD+14%
Engine Assembler15,600 KYD-52%
Engineer36,200 KYD+11%
Engineering Account Manager40,700 KYD+25%
Engineering Chief Designer39,600 KYD+21%
Engineering Consultant46,300 KYD+42%
Engineering Key Account Manager51,200 KYD+57%
Engineering Lab Technician33,700 KYD+3%
Engineering Planning Manager46,800 KYD+44%
Engineering Production Manager63,200 KYD+94%
Engineering Project Analyst38,300 KYD+17%
Engineering Project Coordinator 40,500 KYD+24%
Engineering Project Director69,500 KYD+110%
Engineering Project Manager47,100 KYD+44%
Engineering Research and Development Manager56,100 KYD+72%
Engineering Safety Coordinator26,100 KYD-20%
Engineering Sales Manager45,000 KYD+38%
Engineering Technician26,100 KYD-20%
Engineering Technologist27,700 KYD-15%
Environmental Engineer34,900 KYD+7%
Equipment Engineer30,600 KYD-6%
Equipment Engineering Manager46,100 KYD+41%
Estimator28,300 KYD-13%
Fabrication Specialist25,300 KYD-22%
Fabricator15,300 KYD-53%
Facade Engineer33,300 KYD+2%
Fiber Analyst20,100 KYD-38%
Field Engineer34,200 KYD+5%
Field Engineering Manager57,900 KYD+78%
Fire Engineer33,100 KYD+1%
Fitter and Turner11,000 KYD-66%
Forestry Strategic Planner40,700 KYD+25%
Generation Engineer34,700 KYD+6%
Genetic Engineer37,600 KYD+15%
Geological Engineer35,300 KYD+8%
Geotechnical Engineer37,900 KYD+16%
Heavy Equipment Mechanic18,600 KYD-43%
Highway Engineer33,500 KYD+3%
HSE Professional31,200 KYD-4%
HVAC Engineer37,200 KYD+14%
HVAC Supervisor30,600 KYD-6%
Industrial Engineer31,700 KYD-3%
Industrial Engineering Technologist31,700 KYD-3%
Instrument Engineer32,500 KYD-0%
Instrumentation and Control Engineer32,500 KYD-0%
Instrumentation Engineer33,900 KYD+4%
Instrumentation Manager35,200 KYD+8%
Irrigation Engineer33,300 KYD+2%
Licensed Aircraft Engineer38,200 KYD+17%
Locomotive Engineer31,700 KYD-3%
Maintenance Engineer33,400 KYD+2%
Maintenance Fitter11,700 KYD-64%
Maintenance Manager34,200 KYD+5%
Manufacturing Engineer32,300 KYD-1%
Marine Engineer35,100 KYD+8%
Materials Engineer32,200 KYD-1%
Materials Researcher33,100 KYD+1%
Materials Technician23,900 KYD-27%
Mechanical and Electrical Engineer36,800 KYD+13%
Mechanical Design Engineer35,000 KYD+7%
Mechanical Designer29,500 KYD-10%
Mechanical Engineer36,500 KYD+12%
Mechanical Engineering Manager50,000 KYD+53%
Mechanical Inspector32,300 KYD-1%
Mechatronics Engineer37,200 KYD+14%
Mining Engineer32,800 KYD+1%
Oil and Petrochemical Engineer38,100 KYD+17%
Optical Engineer32,600 KYD-0%
Optical Instrument Assembler17,700 KYD-46%
PCB Assembler11,900 KYD-64%
Photonics Engineer39,100 KYD+20%
Photonics Technician30,100 KYD-8%
Pipeline Engineer31,300 KYD-4%
Piping Designer19,300 KYD-41%
Piping Engineer30,600 KYD-6%
Planning Engineer34,000 KYD+4%
Pressure Vessel Inspector15,900 KYD-51%
Principal Cost Engineer36,100 KYD+11%
Principal Engineer33,300 KYD+2%
Principal Support Engineer34,700 KYD+6%
Process Engineer32,500 KYD-0%
Process Operator19,400 KYD-41%
Product Development Engineer35,600 KYD+9%
Product Development Technician25,900 KYD-21%
Product Engineer37,000 KYD+13%
Product Safety Engineer32,400 KYD-1%
Production Engineer33,500 KYD+3%
Project Engineer35,400 KYD+9%
Proposal Manager46,100 KYD+41%
Purchasing Engineer30,300 KYD-7%
Quality Assurance Engineer34,500 KYD+6%
Rail Engineer33,100 KYD+1%
Robotics Engineer40,400 KYD+24%
Robotics Technician27,500 KYD-16%
Safety Engineer34,200 KYD+5%
Safety Inspector26,100 KYD-20%
Safety Manager40,500 KYD+24%
Safety Officer17,200 KYD-47%
Sales Engineer35,700 KYD+9%
Scheduling Engineer31,300 KYD-4%
Service Engineer37,300 KYD+14%
Solar Engineer35,500 KYD+9%
Staff Engineer32,500 KYD-0%
Static Equipment Engineer32,600 KYD-0%
Stationary Engineer30,300 KYD-7%
Stress Engineer32,500 KYD-0%
Structural Analysis Engineer32,200 KYD-1%
Structural Designer30,700 KYD-6%
Structural Engineer33,600 KYD+3%
Structural Technician22,900 KYD-30%
Supply Chain Specialist32,200 KYD-1%
Surveyor25,800 KYD-21%
Technical Affairs Officer17,400 KYD-47%
Technical Assistant17,700 KYD-46%
Technical Engineer28,900 KYD-11%
Technical Support Engineer30,100 KYD-8%
Tender Engineer30,100 KYD-8%
Test Development Engineer32,900 KYD+1%
Transportation Engineer33,700 KYD+3%
Validation Engineer31,300 KYD-4%
Verification Engineer32,400 KYD-1%
Wastewater Engineer32,900 KYD+1%
Wind Energy Engineer33,300 KYD+2%
Wind Energy Operations Manager45,400 KYD+39%
Work Planner24,500 KYD-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 Cayman Islands earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
35,400 KYD
Public Sector+21%
42,800 KYD
Percentage increase and decrease are relative to the previous value

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