Average Cost Engineer Salary in New Caledonia for 2024

In this article, we will look at the average Cost Engineer salary for 2024 in New Caledonia 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 CFP franc. To keep things simple, we are using the XPF currency code instead of the currency symbol โ‚ฃ.

How Much Does a Cost Engineer Make in New Caledonia?

A Cost Engineer working in New Caledonia will typically earn around 970,600 XPF per year, and this can range from the lowest average salary of about 464,900 XPF to the highest average salary of 1,524,300 XPF.

Average Annual Salary
970,600 XPF
Average Monthly Salary
80,883 XPF

Lowest Annual Salary
464,900 XPF
Lowest Monthly Salary
38,741 XPF

Highest Annual Salary
1,524,300 XPF
Highest Monthly Salary
127,025 XPF

These are average salaries for a Cost Engineer in New Caledonia 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 New Caledonia

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

Salary ranges

We already know that a Cost Engineer can earn between 464,900 XPF and 1,524,300 XPF on average in New Caledonia. 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 New Caledonia is 1,006,300 XPF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 1,006,300 XPF, and 50% of the population earn more than 1,006,300 XPF.

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 New Caledonia, 25% of the population are earning less than 663,200 XPF while 75% of the population earn more than 663,200 XPF.

75% of the population earn less than 1,320,500 XPF, and 25% of the population earn more than 1,320,500 XPF.

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 New Caledonia

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 New Caledonia that has less than two years of experience can expect to earn somewhere in the region of 543,200 XPF.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Engineer salary would increase to 772,700 XPF.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Engineer, the average salary would be 1,012,100 XPF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 1,249,900 XPF.
  • 15 - 20 Years Experience. A Cost Engineer with 15 to 20 years of experience can earn an average of 1,333,900 XPF.
  • 20+ Years Experience. For a Cost Engineer with more than 20 years, the expected average salary increases to 1,450,700 XPF.

Average Salary by Experience Chart

0-2 Years
543,200 XPF
2-5 Years +42%
772,700 XPF
5-10 Years +31%
1,012,100 XPF
10-15 Years +23%
1,249,900 XPF
15-20 Years +6%
1,333,900 XPF
20+ Years +10%
1,450,700 XPF

Cost Engineer Salary by Education Level in New Caledonia

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 New Caledonia 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 New Caledonia with a bachelor's degree education can earn an average salary of 854,300 XPF.

  • Master's Degree. A Cost Engineer in New Caledonia with a master's degree education can earn an average salary of 1,224,800 XPF.

Average Salary by Education Chart

Bachelor's Degree
854,300 XPF
Master's Degree +43%
1,224,800 XPF

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 New Caledonia is around 438,000 to 1,320,000 XPF 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 New Caledonia, a male cost engineer will earn an average of 1,023,400 XPF, while a female cost engineer will earn around 943,800 XPF.

This means that a male cost engineer earns approximately 8% more than a female cost engineer for performing the same job.

Average Salary by Gender Chart in New Caledonia

Male
1,023,400 XPF
Female -8%
943,800 XPF

Cost Engineer Average Pay Raise in New Caledonia

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 New Caledonia is around 9% every 27 months.

The national average pay raise across all professions and industries in New Caledonia is around 5% every 28 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 = ( 9 ÷ 27 ) × 12  = 4%

What this means is that a Cost Engineer in New Caledonia can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in New Caledonia for 2024

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

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

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Cost Engineer Bonus and Incentive Rates in New Caledonia

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 39% of employees reporting at least one bonus in the last 12 months.

61% 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
39%
No Bonus
61%

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 New Caledonia earn approximately 11% more than private sector employees in the same role.

Public Sector
1,094,000 XPF
Private Sector -11%
987,200 XPF

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 New Caledonia.

Job Title Category Salary
Assistant Yard Manager Oil / Gas / Energy / Mining 958,700 XPF
Associate Analyst Oil / Gas / Energy / Mining 1,059,800 XPF
Associate Landman Oil / Gas / Energy / Mining 444,300 XPF
Auxiliary Equipment Operator Oil / Gas / Energy / Mining 377,200 XPF
Biomass Plant Technician Oil / Gas / Energy / Mining 467,700 XPF
Biomass Power Plant Manager Oil / Gas / Energy / Mining 1,283,600 XPF
Chemical Plant Operator Oil / Gas / Energy / Mining 817,800 XPF
Chief Contract Compliance Engineer Oil / Gas / Energy / Mining 995,200 XPF
Completions Engineer Oil / Gas / Energy / Mining 894,500 XPF
Cost Controller Oil / Gas / Energy / Mining 681,500 XPF
Crude Oil Marketing Representative Oil / Gas / Energy / Mining 1,048,600 XPF
Dispatcher Oil / Gas / Energy / Mining 417,100 XPF
Distribution Manager Oil / Gas / Energy / Mining 1,259,300 XPF
Dragline Operator Oil / Gas / Energy / Mining 467,700 XPF
Driller Offsider Oil / Gas / Energy / Mining 327,300 XPF
Dump Truck Driver Oil / Gas / Energy / Mining 367,200 XPF
Electric and Gas Operations Manager Oil / Gas / Energy / Mining 2,100,900 XPF
Energy Advisor Oil / Gas / Energy / Mining 1,500,800 XPF
Energy Analyst Oil / Gas / Energy / Mining 1,405,700 XPF
Energy Auditor Oil / Gas / Energy / Mining 1,184,200 XPF
Energy Dispatch Director Oil / Gas / Energy / Mining 1,668,900 XPF
Energy Technical Assistant Oil / Gas / Energy / Mining 574,200 XPF
Energy Technical Manager Oil / Gas / Energy / Mining 1,224,800 XPF
Energy Technical Support Manager Oil / Gas / Energy / Mining 1,192,500 XPF
Energy Technical Trainer Oil / Gas / Energy / Mining 803,400 XPF
Engineering Geologist Oil / Gas / Energy / Mining 1,741,800 XPF
Exploration Manager Oil / Gas / Energy / Mining 1,621,400 XPF
Field Safety Auditor Oil / Gas / Energy / Mining 1,083,500 XPF
Fluids Engineer Oil / Gas / Energy / Mining 879,700 XPF
Fuel Cell Engineer Oil / Gas / Energy / Mining 1,043,700 XPF
Fuel Cell Technician Oil / Gas / Energy / Mining 475,700 XPF
Fuels Handler Oil / Gas / Energy / Mining 454,300 XPF
Gas Compressor Operator Oil / Gas / Energy / Mining 424,900 XPF
Gas Distribution Plant Operator Oil / Gas / Energy / Mining 748,600 XPF
Gas Supply Manager Oil / Gas / Energy / Mining 1,417,600 XPF
Geologist Oil / Gas / Energy / Mining 1,765,300 XPF
Geophysicist Oil / Gas / Energy / Mining 1,703,200 XPF
Geothermal Production Manager Oil / Gas / Energy / Mining 1,655,500 XPF
Geothermal Technician Oil / Gas / Energy / Mining 648,200 XPF
HSE Engineer Oil / Gas / Energy / Mining 926,000 XPF
HSE Officer Oil / Gas / Energy / Mining 596,100 XPF
HSE Supervisor Oil / Gas / Energy / Mining 688,900 XPF
HSEQ Administrator Oil / Gas / Energy / Mining 709,600 XPF
Inspector Oil / Gas / Energy / Mining 917,200 XPF
Instructor Oil / Gas / Energy / Mining 758,700 XPF
Instrument Designer Oil / Gas / Energy / Mining 743,100 XPF
Lead Technical Field Advisor Oil / Gas / Energy / Mining 1,249,900 XPF
Logistics and Tool Coordinator Oil / Gas / Energy / Mining 814,500 XPF
Maintenance Engineer Oil / Gas / Energy / Mining 939,000 XPF
Maintenance Superintendent Oil / Gas / Energy / Mining 885,000 XPF
Material Controller Oil / Gas / Energy / Mining 629,800 XPF
Mine Engineer Oil / Gas / Energy / Mining 907,100 XPF
Mine Surveyor Oil / Gas / Energy / Mining 1,091,600 XPF
Mining Project Administrator Oil / Gas / Energy / Mining 852,900 XPF
Mining Project Assistant Oil / Gas / Energy / Mining 652,200 XPF
Mining Project Controls Consultant Oil / Gas / Energy / Mining 1,088,600 XPF
Mining Project Coordinator Oil / Gas / Energy / Mining 800,200 XPF
Mining Project Engineer Oil / Gas / Energy / Mining 894,500 XPF
Mining Project Manager Oil / Gas / Energy / Mining 1,259,300 XPF
Mining Site Manager Oil / Gas / Energy / Mining 1,212,800 XPF
Mining Team Leader Oil / Gas / Energy / Mining 1,015,500 XPF
NDT Technician Oil / Gas / Energy / Mining 573,500 XPF
Oil Service Unit Operator Oil / Gas / Energy / Mining 518,300 XPF
Oil Trader Oil / Gas / Energy / Mining 1,235,600 XPF
Oilwell Pumper Oil / Gas / Energy / Mining 371,100 XPF
Petroleum Engineer Oil / Gas / Energy / Mining 1,023,400 XPF
Petroleum Geologist Oil / Gas / Energy / Mining 1,703,200 XPF
Petroleum Pump System Operator Oil / Gas / Energy / Mining 524,400 XPF
Petroleum Technician Oil / Gas / Energy / Mining 562,200 XPF
Pipeline Technician Oil / Gas / Energy / Mining 384,200 XPF
Power Coordinator Oil / Gas / Energy / Mining 597,800 XPF
Power Plant Operations Manager Oil / Gas / Energy / Mining 1,870,400 XPF
Power Plant Operator Oil / Gas / Energy / Mining 778,200 XPF
Radio Operator Oil / Gas / Energy / Mining 431,100 XPF
Reliability Engineer Oil / Gas / Energy / Mining 915,100 XPF
Reservoir Engineer Oil / Gas / Energy / Mining 903,500 XPF
Risk Analyst Oil / Gas / Energy / Mining 1,125,300 XPF
Roughneck Oil / Gas / Energy / Mining 956,200 XPF
Scaffolder Oil / Gas / Energy / Mining 639,900 XPF
Shutdown Engineer Oil / Gas / Energy / Mining 782,500 XPF
Solar Energy Installation Manager Oil / Gas / Energy / Mining 1,417,600 XPF
Solar Energy Systems Engineer Oil / Gas / Energy / Mining 949,600 XPF
Solar Photovoltaic Installer Oil / Gas / Energy / Mining 632,400 XPF
Solar Thermal Technician Oil / Gas / Energy / Mining 575,100 XPF
Supply Operations Manager Oil / Gas / Energy / Mining 1,570,900 XPF
Sustainability Specialist Oil / Gas / Energy / Mining 1,570,900 XPF
System Development Advisor Oil / Gas / Energy / Mining 1,057,100 XPF
Tanker Truck Driver Oil / Gas / Energy / Mining 357,700 XPF
Utility Operator Oil / Gas / Energy / Mining 504,300 XPF
Wind Energy Project Manager Oil / Gas / Energy / Mining 1,296,900 XPF

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