A person working as a Petroleum Geologist in Gibraltar typically earns around 64,900 GIP per year. Salaries range from 33,700 GIP (lowest) to 99,300 GIP (highest).
This is the average yearly 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 salaries in Gibraltar range from 33,700 GIP per year (minimum salary) to 99,300 GIP per year (maximum salary).
The median salary is 62,300 GIP per year, which means that half (50%) of people working as Petroleum Geologist(s) are earning less than 62,300 GIP while the other half are earning more than 62,300 GIP. 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.
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 43,200 GIP while 75% of them are earning more than 43,200 GIP. Also from the diagram, 75% of Petroleum Geologist(s) are earning less than 77,600 GIP while 25% are earning more than 77,600 GIP.
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
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 38,300 GIP per year.
While someone with an experience level between two and five years is expected to earn 51,400 GIP per year, 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 66,800 GIP per year, 30% more than someone with two to five years of experience.
Additionally, Petroleum Geologist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 80,900 GIP per year, 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 88,500 GIP per year, 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 93,100 GIP per year, 5% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|15 - 20 Years||+9%|
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 49,500 GIP per year.
While someone with a Master's Degree gets a salary of 61,300 GIP per year, 24% more than someone having a Bachelor's Degree degree.
A PhD gets its holder an average salary of 98,000 GIP per year, 60% more than someone with a Master's Degree.
A Master's degree program or any post-graduate program in Gibraltar costs anywhere from 16,900 Gibraltar Pound(s) to 50,700 Gibraltar Pound(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.
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 Gibraltar earn 11% more than their female counterparts on average.
Petroleum Geologist(s) in Gibraltar are likely to observe a salary increase of approximately 9% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
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.
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 Gibraltar 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.
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.
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.
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.
The average salary for Petroleum Geologist is 78% more than that of Oil / Gas / Energy / Mining. Also, Oil / Gas / Energy / Mining salaries are 10% less than those of All Jobs.
|Job Title||Average Salary|
|Assistant Yard Manager||35,700 GIP||-45%|
|Associate Analyst||37,600 GIP||-42%|
|Associate Landman||15,800 GIP||-76%|
|Auxiliary Equipment Operator||14,000 GIP||-78%|
|Biomass Plant Technician||17,600 GIP||-73%|
|Biomass Power Plant Manager||49,600 GIP||-24%|
|Chemical Plant Operator||29,000 GIP||-55%|
|Chief Contract Compliance Engineer||37,300 GIP||-43%|
|Completions Engineer||34,600 GIP||-47%|
|Cost Controller||25,100 GIP||-61%|
|Crude Oil Marketing Representative||38,300 GIP||-41%|
|Distribution Manager||50,100 GIP||-23%|
|Dragline Operator||17,400 GIP||-73%|
|Driller Offsider||13,400 GIP||-79%|
|Dump Truck Driver||13,600 GIP||-79%|
|Electric and Gas Operations Manager||85,500 GIP||+32%|
|Energy Advisor||53,500 GIP||-18%|
|Energy Analyst||49,600 GIP||-24%|
|Energy Auditor||43,000 GIP||-34%|
|Energy Dispatch Director||63,400 GIP||-2%|
|Energy Technical Assistant||22,600 GIP||-65%|
|Energy Technical Manager||45,300 GIP||-30%|
|Energy Technical Trainer||30,900 GIP||-52%|
|Exploration Manager||63,300 GIP||-2%|
|Field Safety Auditor||39,800 GIP||-39%|
|Fluids Engineer||34,900 GIP||-46%|
|Fuel Cell Engineer||36,500 GIP||-44%|
|Fuel Cell Technician||18,900 GIP||-71%|
|Fuels Handler||16,600 GIP||-74%|
|Gas Compressor Operator||16,400 GIP||-75%|
|Gas Distribution Plant Operator||29,900 GIP||-54%|
|Gas Supply Manager||53,100 GIP||-18%|
|Geothermal Production Manager||62,600 GIP||-4%|
|Geothermal Technician||25,200 GIP||-61%|
|HSE Engineer||36,200 GIP||-44%|
|HSE Officer||21,600 GIP||-67%|
|HSEQ Administrator||26,500 GIP||-59%|
|Instrument Designer||26,900 GIP||-59%|
|Lead Technical Field Advisor||48,900 GIP||-25%|
|Logistics and Tool Coordinator||30,100 GIP||-54%|
|Maintenance Engineer||34,800 GIP||-46%|
|Maintenance Superintendent||31,100 GIP||-52%|
|Material Controller||24,500 GIP||-62%|
|Mine Engineer||36,100 GIP||-44%|
|Mine Surveyor||38,500 GIP||-41%|
|Mining Project Administrator||31,500 GIP||-51%|
|Mining Project Assistant||26,300 GIP||-59%|
|Mining Project Controls Consultant||41,000 GIP||-37%|
|Mining Project Coordinator||32,500 GIP||-50%|
|Mining Project Engineer||33,200 GIP||-49%|
|Mining Project Manager||46,300 GIP||-29%|
|Mining Site Manager||46,700 GIP||-28%|
|Mining Team Leader||38,200 GIP||-41%|
|NDT Technician||22,200 GIP||-66%|
|Oil Service Unit Operator||19,600 GIP||-70%|
|Oil Trader||45,500 GIP||-30%|
|Oilwell Pumper||13,800 GIP||-79%|
|Petroleum Engineer||39,500 GIP||-39%|
|Petroleum Geologist||64,900 GIP||+0%|
|Petroleum Pump System Operator||20,300 GIP||-69%|
|Pipeline Technician||13,600 GIP||-79%|
|Power Coordinator||21,600 GIP||-67%|
|Power Plant Operations Manager||68,400 GIP||+5%|
|Power Plant Operator||28,300 GIP||-56%|
|Radio Operator||15,200 GIP||-77%|
|Reliability Engineer||36,000 GIP||-45%|
|Reservoir Engineer||32,900 GIP||-49%|
|Risk Analyst||41,800 GIP||-36%|
|Shutdown Engineer||29,000 GIP||-55%|
|Solar Energy Installation Manager||54,800 GIP||-16%|
|Solar Energy Systems Engineer||37,900 GIP||-42%|
|Solar Photovoltaic Installer||23,600 GIP||-64%|
|Solar Thermal Technician||22,000 GIP||-66%|
|Supply Operations Manager||61,300 GIP||-6%|
|Sustainability Specialist||54,600 GIP||-16%|
|System Development Advisor||39,300 GIP||-39%|
|Tanker Truck Driver||14,600 GIP||-78%|
|Utility Operator||19,600 GIP||-70%|
|Wind Energy Project Manager||50,000 GIP||-23%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Gibraltar earn 18% more than their private sector counterparts on average across all sectors.