Average Cost Engineer Salary in Malawi for 2024

In this article, we will look at the average Cost Engineer salary for 2024 in Malawi 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 Malawian kwacha. To keep things simple, we are using the MWK currency code instead of the currency symbol MK.

How Much Does a Cost Engineer Make in Malawi?

A Cost Engineer working in Malawi will typically earn around 1,728,900 MWK per year, and this can range from the lowest average salary of about 899,900 MWK to the highest average salary of 2,653,700 MWK.

Average Annual Salary
1,728,900 MWK
Average Monthly Salary
144,075 MWK

Lowest Annual Salary
899,900 MWK
Lowest Monthly Salary
74,991 MWK

Highest Annual Salary
2,653,700 MWK
Highest Monthly Salary
221,141 MWK

These are average salaries for a Cost Engineer in Malawi 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 Malawi

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

Salary ranges

We already know that a Cost Engineer can earn between 899,900 MWK and 2,653,700 MWK on average in Malawi. 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 Malawi is 1,655,500 MWK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 1,655,500 MWK, and 50% of the population earn more than 1,655,500 MWK.

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 Malawi, 25% of the population are earning less than 1,152,700 MWK while 75% of the population earn more than 1,152,700 MWK.

75% of the population earn less than 2,065,400 MWK, and 25% of the population earn more than 2,065,400 MWK.

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 Malawi

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 Malawi that has less than two years of experience can expect to earn somewhere in the region of 1,021,800 MWK.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Engineer salary would increase to 1,369,700 MWK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Engineer, the average salary would be 1,777,700 MWK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 2,161,200 MWK.
  • 15 - 20 Years Experience. A Cost Engineer with 15 to 20 years of experience can earn an average of 2,362,300 MWK.
  • 20+ Years Experience. For a Cost Engineer with more than 20 years, the expected average salary increases to 2,485,800 MWK.

Average Salary by Experience Chart

0-2 Years
1,021,800 MWK
2-5 Years +34%
1,369,700 MWK
5-10 Years +30%
1,777,700 MWK
10-15 Years +21%
2,161,200 MWK
15-20 Years +9%
2,362,300 MWK
20+ Years +5%
2,485,800 MWK

Cost Engineer Salary by Education Level in Malawi

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 Malawi 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 Malawi with a bachelor's degree education can earn an average salary of 1,440,700 MWK.

  • Master's Degree. A Cost Engineer in Malawi with a master's degree education can earn an average salary of 2,003,200 MWK.

Average Salary by Education Chart

Bachelor's Degree
1,440,700 MWK
Master's Degree +39%
2,003,200 MWK

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 Malawi is around 822,000 to 2,470,000 MWK 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 Malawi, a male cost engineer will earn an average of 1,846,200 MWK, while a female cost engineer will earn around 1,655,500 MWK.

This means that a male cost engineer earns approximately 12% more than a female cost engineer for performing the same job.

Average Salary by Gender Chart in Malawi

Male
1,846,200 MWK
Female -12%
1,655,500 MWK

Cost Engineer Average Pay Raise in Malawi

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 Malawi is around 8% every 28 months.

The national average pay raise across all professions and industries in Malawi 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 Malawi can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Malawi for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Cost Engineer Bonus and Incentive Rates in Malawi

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 35% of employees reporting at least one bonus in the last 12 months.

65% 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 5%.

Received Bonus
35%
No Bonus
65%

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 Malawi earn approximately 14% more than private sector employees in the same role.

Public Sector
2,136,200 MWK
Private Sector -14%
1,870,400 MWK

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 Malawi.

Job Title Category Salary
Assistant Yard Manager Oil / Gas / Energy / Mining 1,846,200 MWK
Associate Analyst Oil / Gas / Energy / Mining 1,990,300 MWK
Associate Landman Oil / Gas / Energy / Mining 836,500 MWK
Auxiliary Equipment Operator Oil / Gas / Energy / Mining 781,200 MWK
Biomass Plant Technician Oil / Gas / Energy / Mining 858,100 MWK
Biomass Power Plant Manager Oil / Gas / Energy / Mining 2,533,800 MWK
Chemical Plant Operator Oil / Gas / Energy / Mining 1,500,800 MWK
Chief Contract Compliance Engineer Oil / Gas / Energy / Mining 2,015,600 MWK
Completions Engineer Oil / Gas / Energy / Mining 1,716,600 MWK
Cost Controller Oil / Gas / Energy / Mining 1,380,400 MWK
Crude Oil Marketing Representative Oil / Gas / Energy / Mining 2,015,600 MWK
Dispatcher Oil / Gas / Energy / Mining 785,400 MWK
Distribution Manager Oil / Gas / Energy / Mining 2,557,100 MWK
Dragline Operator Oil / Gas / Energy / Mining 903,500 MWK
Driller Offsider Oil / Gas / Energy / Mining 683,400 MWK
Dump Truck Driver Oil / Gas / Energy / Mining 745,000 MWK
Electric and Gas Operations Manager Oil / Gas / Energy / Mining 4,345,400 MWK
Energy Advisor Oil / Gas / Energy / Mining 2,819,600 MWK
Energy Analyst Oil / Gas / Energy / Mining 2,579,200 MWK
Energy Auditor Oil / Gas / Energy / Mining 2,339,200 MWK
Energy Dispatch Director Oil / Gas / Energy / Mining 3,047,800 MWK
Energy Technical Assistant Oil / Gas / Energy / Mining 1,134,800 MWK
Energy Technical Manager Oil / Gas / Energy / Mining 2,339,200 MWK
Energy Technical Support Manager Oil / Gas / Energy / Mining 2,352,500 MWK
Energy Technical Trainer Oil / Gas / Energy / Mining 1,547,500 MWK
Engineering Geologist Oil / Gas / Energy / Mining 3,349,100 MWK
Exploration Manager Oil / Gas / Energy / Mining 3,192,300 MWK
Field Safety Auditor Oil / Gas / Energy / Mining 2,136,200 MWK
Fluids Engineer Oil / Gas / Energy / Mining 1,788,300 MWK
Fuel Cell Engineer Oil / Gas / Energy / Mining 1,908,800 MWK
Fuel Cell Technician Oil / Gas / Energy / Mining 938,700 MWK
Fuels Handler Oil / Gas / Energy / Mining 875,000 MWK
Gas Compressor Operator Oil / Gas / Energy / Mining 795,700 MWK
Gas Distribution Plant Operator Oil / Gas / Energy / Mining 1,524,300 MWK
Gas Supply Manager Oil / Gas / Energy / Mining 2,653,700 MWK
Geologist Oil / Gas / Energy / Mining 3,239,400 MWK
Geophysicist Oil / Gas / Energy / Mining 3,444,200 MWK
Geothermal Production Manager Oil / Gas / Energy / Mining 3,023,200 MWK
Geothermal Technician Oil / Gas / Energy / Mining 1,273,300 MWK
HSE Engineer Oil / Gas / Energy / Mining 1,825,000 MWK
HSE Officer Oil / Gas / Energy / Mining 1,145,100 MWK
HSE Supervisor Oil / Gas / Energy / Mining 1,357,900 MWK
HSEQ Administrator Oil / Gas / Energy / Mining 1,369,700 MWK
Inspector Oil / Gas / Energy / Mining 1,765,300 MWK
Instructor Oil / Gas / Energy / Mining 1,537,500 MWK
Instrument Designer Oil / Gas / Energy / Mining 1,464,200 MWK
Lead Technical Field Advisor Oil / Gas / Energy / Mining 2,401,300 MWK
Logistics and Tool Coordinator Oil / Gas / Energy / Mining 1,645,600 MWK
Maintenance Engineer Oil / Gas / Energy / Mining 1,942,700 MWK
Maintenance Superintendent Oil / Gas / Energy / Mining 1,621,400 MWK
Material Controller Oil / Gas / Energy / Mining 1,212,800 MWK
Mine Engineer Oil / Gas / Energy / Mining 1,788,300 MWK
Mine Surveyor Oil / Gas / Energy / Mining 2,003,200 MWK
Mining Project Administrator Oil / Gas / Energy / Mining 1,678,300 MWK
Mining Project Assistant Oil / Gas / Energy / Mining 1,320,500 MWK
Mining Project Controls Consultant Oil / Gas / Energy / Mining 1,942,700 MWK
Mining Project Coordinator Oil / Gas / Energy / Mining 1,668,900 MWK
Mining Project Engineer Oil / Gas / Energy / Mining 1,846,200 MWK
Mining Project Manager Oil / Gas / Energy / Mining 2,423,000 MWK
Mining Site Manager Oil / Gas / Energy / Mining 2,389,200 MWK
Mining Team Leader Oil / Gas / Energy / Mining 1,858,200 MWK
NDT Technician Oil / Gas / Energy / Mining 1,106,000 MWK
Oil Service Unit Operator Oil / Gas / Energy / Mining 922,300 MWK
Oil Trader Oil / Gas / Energy / Mining 2,447,200 MWK
Oilwell Pumper Oil / Gas / Energy / Mining 718,000 MWK
Petroleum Engineer Oil / Gas / Energy / Mining 2,026,800 MWK
Petroleum Geologist Oil / Gas / Energy / Mining 3,192,300 MWK
Petroleum Pump System Operator Oil / Gas / Energy / Mining 1,004,500 MWK
Petroleum Technician Oil / Gas / Energy / Mining 1,080,400 MWK
Pipeline Technician Oil / Gas / Energy / Mining 702,800 MWK
Power Coordinator Oil / Gas / Energy / Mining 1,152,700 MWK
Power Plant Operations Manager Oil / Gas / Energy / Mining 3,696,900 MWK
Power Plant Operator Oil / Gas / Energy / Mining 1,537,500 MWK
Radio Operator Oil / Gas / Energy / Mining 807,900 MWK
Reliability Engineer Oil / Gas / Energy / Mining 1,800,200 MWK
Reservoir Engineer Oil / Gas / Energy / Mining 1,741,800 MWK
Risk Analyst Oil / Gas / Energy / Mining 2,339,200 MWK
Roughneck Oil / Gas / Energy / Mining 1,788,300 MWK
Scaffolder Oil / Gas / Energy / Mining 1,172,900 MWK
Shutdown Engineer Oil / Gas / Energy / Mining 1,583,700 MWK
Solar Energy Installation Manager Oil / Gas / Energy / Mining 2,653,700 MWK
Solar Energy Systems Engineer Oil / Gas / Energy / Mining 1,921,500 MWK
Solar Photovoltaic Installer Oil / Gas / Energy / Mining 1,249,900 MWK
Solar Thermal Technician Oil / Gas / Energy / Mining 1,105,600 MWK
Supply Operations Manager Oil / Gas / Energy / Mining 2,964,800 MWK
Sustainability Specialist Oil / Gas / Energy / Mining 2,868,600 MWK
System Development Advisor Oil / Gas / Energy / Mining 2,197,700 MWK
Tanker Truck Driver Oil / Gas / Energy / Mining 743,100 MWK
Utility Operator Oil / Gas / Energy / Mining 971,200 MWK
Wind Energy Project Manager Oil / Gas / Energy / Mining 2,495,600 MWK

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