Determinants of Your Salary Package

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A number of factors will determine your salary and benefits package so before you choose an offshore drilling job, it is a good idea to research the following with respect to your offer.

Experience

The more experience the more you are likely to make as a drill worker. This is an industry where on the job knowledge and expertise is valued over all else so no matter how qualified you are from a formal education perspective; experience is what counts at the end of the day. In order to see growth in your salary package, you need to put in the time. A general rule of thumb on your increment progress is provided below:

  • 0 to 1 year experience – entry level salary
  • 1 to 4 years experience – 46% increase
  • 5 to 9 years experience – 12.5% increase
  • 10 to 19 years experience – 16% increase
  • Over 20 years experience – 10% increase

Size of the Drilling Company

The next factor is the size of the company you are working for. Studies have shown that employees who work in larger companies, employing 200 people or more earn up to 22% more than employees working in smaller companies.

Location of Service

Where you work plays a role in how much you will earn. Certain parts of the world are known for lower pay packages and others for higher salaries. However if you are working for a large company with a number of international sites, location may not be as much a factor.

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