Average Cost Engineer Salary in Gambia for 2024

In this article, we will look at the average Cost Engineer salary for 2024 in Gambia and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the dalasi. To keep things simple, we are using the GMD currency code instead of the currency symbol D.

How Much Does a Cost Engineer Make in Gambia?

A Cost Engineer working in Gambia will typically earn around 167,100 GMD per year, and this can range from the lowest average salary of about 84,740 GMD to the highest average salary of 257,700 GMD.

Average Annual Salary
167,100 GMD
Average Monthly Salary
13,925 GMD

Lowest Annual Salary
84,740 GMD
Lowest Monthly Salary
7,061 GMD

Highest Annual Salary
257,700 GMD
Highest Monthly Salary
21,475 GMD

These are average salaries for a Cost Engineer in Gambia and include benefits such as housing and transport. It's also possible for a Cost Engineer to earn more or less than the average salaries shown above.

Cost Engineer salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Cost Engineer Salaries in Gambia

So we've looked at the average salaries a Cost Engineer will earn in Gambia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Cost Engineer can earn between 84,740 GMD and 257,700 GMD on average in Gambia. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Cost Engineer in Gambia is 163,800 GMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 163,800 GMD, and 50% of the population earn more than 163,800 GMD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Cost Engineer salary in Gambia, 25% of the population are earning less than 112,620 GMD while 75% of the population earn more than 112,620 GMD.

75% of the population earn less than 207,800 GMD, and 25% of the population earn more than 207,800 GMD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Cost Engineer Salary by Experience Level in Gambia

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average cost engineer salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Cost Engineer in Gambia that has less than two years of experience can expect to earn somewhere in the region of 96,960 GMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Engineer salary would increase to 124,400 GMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Engineer, the average salary would be 174,000 GMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 209,700 GMD.
  • 15 - 20 Years Experience. A Cost Engineer with 15 to 20 years of experience can earn an average of 227,600 GMD.
  • 20+ Years Experience. For a Cost Engineer with more than 20 years, the expected average salary increases to 246,500 GMD.

Average Salary by Experience Chart

0-2 Years
96,960 GMD
2-5 Years +31%
124,400 GMD
5-10 Years +40%
174,000 GMD
10-15 Years +20%
209,700 GMD
15-20 Years +9%
227,600 GMD
20+ Years +8%
246,500 GMD

Cost Engineer Salary by Education Level in Gambia

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Cost Engineer in Gambia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Cost Engineer in Gambia with a bachelor's degree education can earn an average salary of 118,800 GMD.

  • Master's Degree. A Cost Engineer in Gambia with a master's degree education can earn an average salary of 209,700 GMD.

Average Salary by Education Chart

Bachelor's Degree
118,800 GMD
Master's Degree +77%
209,700 GMD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Gambia is around 79,500 to 239,000 GMD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Cost Engineer Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Gambia, a male cost engineer will earn an average of 181,600 GMD, while a female cost engineer will earn around 154,700 GMD.

This means that a male cost engineer earns approximately 17% more than a female cost engineer for performing the same job.

Average Salary by Gender Chart in Gambia

Male
181,600 GMD
Female -17%
154,700 GMD

Cost Engineer Average Pay Raise in Gambia

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Cost Engineer in Gambia is around 8% every 28 months.

The national average pay raise across all professions and industries in Gambia is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 28 ) × 12  = 3%

What this means is that a Cost Engineer in Gambia can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Gambia for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Gambia.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Cost Engineer Bonus and Incentive Rates in Gambia

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Cost Engineer is a low bonus based job, with 36% of employees reporting at least one bonus in the last 12 months.

64% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
36%
No Bonus
64%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Gambia earn approximately 11% more than private sector employees in the same role.

Public Sector
205,700 GMD
Private Sector -11%
185,100 GMD

Salaries for Jobs Similar to a Cost Engineer

In the table below, we have salary information for jobs that are similar to a Cost Engineer in Gambia.

Job Title Category Salary
Assistant Yard Manager Oil / Gas / Energy / Mining 169,000 GMD
Associate Analyst Oil / Gas / Energy / Mining 192,600 GMD
Associate Landman Oil / Gas / Energy / Mining 80,060 GMD
Auxiliary Equipment Operator Oil / Gas / Energy / Mining 67,120 GMD
Biomass Plant Technician Oil / Gas / Energy / Mining 78,940 GMD
Biomass Power Plant Manager Oil / Gas / Energy / Mining 245,300 GMD
Chemical Plant Operator Oil / Gas / Energy / Mining 139,100 GMD
Chief Contract Compliance Engineer Oil / Gas / Energy / Mining 185,100 GMD
Completions Engineer Oil / Gas / Energy / Mining 159,100 GMD
Cost Controller Oil / Gas / Energy / Mining 125,700 GMD
Crude Oil Marketing Representative Oil / Gas / Energy / Mining 187,500 GMD
Dispatcher Oil / Gas / Energy / Mining 66,840 GMD
Distribution Manager Oil / Gas / Energy / Mining 233,900 GMD
Dragline Operator Oil / Gas / Energy / Mining 83,140 GMD
Driller Offsider Oil / Gas / Energy / Mining 61,460 GMD
Dump Truck Driver Oil / Gas / Energy / Mining 66,840 GMD
Electric and Gas Operations Manager Oil / Gas / Energy / Mining 381,800 GMD
Energy Advisor Oil / Gas / Energy / Mining 273,300 GMD
Energy Analyst Oil / Gas / Energy / Mining 239,000 GMD
Energy Auditor Oil / Gas / Energy / Mining 204,000 GMD
Energy Dispatch Director Oil / Gas / Energy / Mining 281,500 GMD
Energy Technical Assistant Oil / Gas / Energy / Mining 107,900 GMD
Energy Technical Manager Oil / Gas / Energy / Mining 215,100 GMD
Energy Technical Support Manager Oil / Gas / Energy / Mining 207,800 GMD
Energy Technical Trainer Oil / Gas / Energy / Mining 143,200 GMD
Engineering Geologist Oil / Gas / Energy / Mining 309,800 GMD
Exploration Manager Oil / Gas / Energy / Mining 309,800 GMD
Field Safety Auditor Oil / Gas / Energy / Mining 187,300 GMD
Fluids Engineer Oil / Gas / Energy / Mining 163,800 GMD
Fuel Cell Engineer Oil / Gas / Energy / Mining 176,800 GMD
Fuel Cell Technician Oil / Gas / Energy / Mining 80,280 GMD
Fuels Handler Oil / Gas / Energy / Mining 80,800 GMD
Gas Compressor Operator Oil / Gas / Energy / Mining 78,420 GMD
Gas Distribution Plant Operator Oil / Gas / Energy / Mining 138,200 GMD
Gas Supply Manager Oil / Gas / Energy / Mining 258,400 GMD
Geologist Oil / Gas / Energy / Mining 299,500 GMD
Geophysicist Oil / Gas / Energy / Mining 315,900 GMD
Geothermal Production Manager Oil / Gas / Energy / Mining 277,400 GMD
Geothermal Technician Oil / Gas / Energy / Mining 125,100 GMD
HSE Engineer Oil / Gas / Energy / Mining 176,800 GMD
HSE Officer Oil / Gas / Energy / Mining 104,060 GMD
HSE Supervisor Oil / Gas / Energy / Mining 118,060 GMD
HSEQ Administrator Oil / Gas / Energy / Mining 127,700 GMD
Inspector Oil / Gas / Energy / Mining 161,300 GMD
Instructor Oil / Gas / Energy / Mining 142,300 GMD
Instrument Designer Oil / Gas / Energy / Mining 129,000 GMD
Lead Technical Field Advisor Oil / Gas / Energy / Mining 218,900 GMD
Logistics and Tool Coordinator Oil / Gas / Energy / Mining 152,100 GMD
Maintenance Engineer Oil / Gas / Energy / Mining 172,200 GMD
Maintenance Superintendent Oil / Gas / Energy / Mining 150,000 GMD
Material Controller Oil / Gas / Energy / Mining 110,500 GMD
Mine Engineer Oil / Gas / Energy / Mining 158,700 GMD
Mine Surveyor Oil / Gas / Energy / Mining 183,700 GMD
Mining Project Administrator Oil / Gas / Energy / Mining 148,300 GMD
Mining Project Assistant Oil / Gas / Energy / Mining 119,900 GMD
Mining Project Controls Consultant Oil / Gas / Energy / Mining 189,300 GMD
Mining Project Coordinator Oil / Gas / Energy / Mining 146,200 GMD
Mining Project Engineer Oil / Gas / Energy / Mining 161,300 GMD
Mining Project Manager Oil / Gas / Energy / Mining 221,500 GMD
Mining Site Manager Oil / Gas / Energy / Mining 231,000 GMD
Mining Team Leader Oil / Gas / Energy / Mining 172,200 GMD
NDT Technician Oil / Gas / Energy / Mining 102,240 GMD
Oil Service Unit Operator Oil / Gas / Energy / Mining 88,480 GMD
Oil Trader Oil / Gas / Energy / Mining 212,500 GMD
Oilwell Pumper Oil / Gas / Energy / Mining 66,480 GMD
Petroleum Engineer Oil / Gas / Energy / Mining 196,800 GMD
Petroleum Geologist Oil / Gas / Energy / Mining 309,800 GMD
Petroleum Pump System Operator Oil / Gas / Energy / Mining 91,520 GMD
Petroleum Technician Oil / Gas / Energy / Mining 97,460 GMD
Pipeline Technician Oil / Gas / Energy / Mining 62,860 GMD
Power Coordinator Oil / Gas / Energy / Mining 106,160 GMD
Power Plant Operations Manager Oil / Gas / Energy / Mining 322,600 GMD
Power Plant Operator Oil / Gas / Energy / Mining 136,100 GMD
Radio Operator Oil / Gas / Energy / Mining 79,280 GMD
Reliability Engineer Oil / Gas / Energy / Mining 158,700 GMD
Reservoir Engineer Oil / Gas / Energy / Mining 159,400 GMD
Risk Analyst Oil / Gas / Energy / Mining 204,000 GMD
Roughneck Oil / Gas / Energy / Mining 172,400 GMD
Scaffolder Oil / Gas / Energy / Mining 106,960 GMD
Shutdown Engineer Oil / Gas / Energy / Mining 148,300 GMD
Solar Energy Installation Manager Oil / Gas / Energy / Mining 258,400 GMD
Solar Energy Systems Engineer Oil / Gas / Energy / Mining 176,800 GMD
Solar Photovoltaic Installer Oil / Gas / Energy / Mining 111,240 GMD
Solar Thermal Technician Oil / Gas / Energy / Mining 102,460 GMD
Supply Operations Manager Oil / Gas / Energy / Mining 288,100 GMD
Sustainability Specialist Oil / Gas / Energy / Mining 263,900 GMD
System Development Advisor Oil / Gas / Energy / Mining 192,600 GMD
Tanker Truck Driver Oil / Gas / Energy / Mining 65,940 GMD
Utility Operator Oil / Gas / Energy / Mining 88,300 GMD
Wind Energy Project Manager Oil / Gas / Energy / Mining 228,000 GMD

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