Average Petroleum Engineer Salary in Honduras for 2024

In this article, we will look at the average Petroleum Engineer salary for 2024 in Honduras 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 Honduran lempira. To keep things simple, we are using the HNL currency code instead of the currency symbol L.

How Much Does a Petroleum Engineer Make in Honduras?

A Petroleum Engineer working in Honduras will typically earn around 330,700 HNL per year, and this can range from the lowest average salary of about 172,200 HNL to the highest average salary of 504,300 HNL.

Average Annual Salary
330,700 HNL
Average Monthly Salary
27,558 HNL

Lowest Annual Salary
172,200 HNL
Lowest Monthly Salary
14,350 HNL

Highest Annual Salary
504,300 HNL
Highest Monthly Salary
42,025 HNL

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

Petroleum 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 Petroleum Engineer Salaries in Honduras

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

Salary ranges

We already know that a Petroleum Engineer can earn between 172,200 HNL and 504,300 HNL on average in Honduras. 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 Petroleum Engineer in Honduras is 315,900 HNL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 315,900 HNL, and 50% of the population earn more than 315,900 HNL.

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 Petroleum Engineer salary in Honduras, 25% of the population are earning less than 221,500 HNL while 75% of the population earn more than 221,500 HNL.

75% of the population earn less than 394,300 HNL, and 25% of the population earn more than 394,300 HNL.

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.

Petroleum Engineer Salary by Experience Level in Honduras

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 petroleum 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 Petroleum Engineer in Honduras that has less than two years of experience can expect to earn somewhere in the region of 196,800 HNL.
  • 2 - 5 Years Experience. With two to five years of experience the average Petroleum Engineer salary would increase to 263,200 HNL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Petroleum Engineer , the average salary would be 340,400 HNL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 414,000 HNL.
  • 15 - 20 Years Experience. A Petroleum Engineer with 15 to 20 years of experience can earn an average of 450,300 HNL.
  • 20+ Years Experience. For a Petroleum Engineer with more than 20 years, the expected average salary increases to 472,100 HNL.

Average Salary by Experience Chart

0-2 Years
196,800 HNL
2-5 Years +34%
263,200 HNL
5-10 Years +30%
340,400 HNL
10-15 Years +21%
414,000 HNL
15-20 Years +9%
450,300 HNL
20+ Years +5%
472,100 HNL

Petroleum Engineer Salary by Education Level in Honduras

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 Petroleum Engineer in Honduras 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 Petroleum Engineer in Honduras with a bachelor's degree education can earn an average salary of 273,000 HNL.

  • Master's Degree. A Petroleum Engineer in Honduras with a master's degree education can earn an average salary of 384,200 HNL.

Average Salary by Education Chart

Bachelor's Degree
273,000 HNL
Master's Degree +39%
384,200 HNL

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 Honduras is around 141,000 to 422,000 HNL 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.

Petroleum 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 Honduras, a male petroleum engineer will earn an average of 349,300 HNL, while a female petroleum engineer will earn around 318,800 HNL.

This means that a male petroleum engineer earns approximately 10% more than a female petroleum engineer for performing the same job.

Average Salary by Gender Chart in Honduras

Male
349,300 HNL
Female -10%
318,800 HNL

Petroleum Engineer Average Pay Raise in Honduras

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 Petroleum Engineer in Honduras is around 9% every 27 months.

The national average pay raise across all professions and industries in Honduras 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 Petroleum Engineer in Honduras can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Honduras for 2024

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

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

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

Petroleum Engineer Bonus and Incentive Rates in Honduras

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 Petroleum 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 Honduras earn approximately 13% more than private sector employees in the same role.

Public Sector
353,600 HNL
Private Sector -13%
312,400 HNL

Salaries for Jobs Similar to a Petroleum Engineer

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

Job Title Category Salary
Assistant Yard Manager Oil / Gas / Energy / Mining 272,800 HNL
Associate Analyst Oil / Gas / Energy / Mining 330,700 HNL
Associate Landman Oil / Gas / Energy / Mining 139,100 HNL
Auxiliary Equipment Operator Oil / Gas / Energy / Mining 115,940 HNL
Biomass Plant Technician Oil / Gas / Energy / Mining 142,300 HNL
Biomass Power Plant Manager Oil / Gas / Energy / Mining 411,400 HNL
Chemical Plant Operator Oil / Gas / Energy / Mining 228,000 HNL
Chief Contract Compliance Engineer Oil / Gas / Energy / Mining 309,800 HNL
Completions Engineer Oil / Gas / Energy / Mining 283,700 HNL
Cost Controller Oil / Gas / Energy / Mining 216,800 HNL
Cost Engineer Oil / Gas / Energy / Mining 292,000 HNL
Crude Oil Marketing Representative Oil / Gas / Energy / Mining 308,300 HNL
Dispatcher Oil / Gas / Energy / Mining 125,700 HNL
Distribution Manager Oil / Gas / Energy / Mining 428,400 HNL
Dragline Operator Oil / Gas / Energy / Mining 136,100 HNL
Driller Offsider Oil / Gas / Energy / Mining 104,620 HNL
Dump Truck Driver Oil / Gas / Energy / Mining 117,660 HNL
Electric and Gas Operations Manager Oil / Gas / Energy / Mining 664,500 HNL
Energy Advisor Oil / Gas / Energy / Mining 464,400 HNL
Energy Analyst Oil / Gas / Energy / Mining 401,300 HNL
Energy Auditor Oil / Gas / Energy / Mining 351,200 HNL
Energy Dispatch Director Oil / Gas / Energy / Mining 498,000 HNL
Energy Technical Assistant Oil / Gas / Energy / Mining 180,300 HNL
Energy Technical Manager Oil / Gas / Energy / Mining 345,100 HNL
Energy Technical Support Manager Oil / Gas / Energy / Mining 369,300 HNL
Energy Technical Trainer Oil / Gas / Energy / Mining 263,200 HNL
Engineering Geologist Oil / Gas / Energy / Mining 522,700 HNL
Exploration Manager Oil / Gas / Energy / Mining 504,400 HNL
Field Safety Auditor Oil / Gas / Energy / Mining 345,700 HNL
Fluids Engineer Oil / Gas / Energy / Mining 299,500 HNL
Fuel Cell Engineer Oil / Gas / Energy / Mining 301,600 HNL
Fuel Cell Technician Oil / Gas / Energy / Mining 142,300 HNL
Fuels Handler Oil / Gas / Energy / Mining 134,600 HNL
Gas Compressor Operator Oil / Gas / Energy / Mining 136,200 HNL
Gas Distribution Plant Operator Oil / Gas / Energy / Mining 251,500 HNL
Gas Supply Manager Oil / Gas / Energy / Mining 433,400 HNL
Geologist Oil / Gas / Energy / Mining 513,300 HNL
Geophysicist Oil / Gas / Energy / Mining 552,400 HNL
Geothermal Production Manager Oil / Gas / Energy / Mining 498,000 HNL
Geothermal Technician Oil / Gas / Energy / Mining 205,700 HNL
HSE Engineer Oil / Gas / Energy / Mining 292,000 HNL
HSE Officer Oil / Gas / Energy / Mining 176,800 HNL
HSE Supervisor Oil / Gas / Energy / Mining 209,700 HNL
HSEQ Administrator Oil / Gas / Energy / Mining 197,600 HNL
Inspector Oil / Gas / Energy / Mining 265,000 HNL
Instructor Oil / Gas / Energy / Mining 246,200 HNL
Instrument Designer Oil / Gas / Energy / Mining 218,900 HNL
Lead Technical Field Advisor Oil / Gas / Energy / Mining 384,500 HNL
Logistics and Tool Coordinator Oil / Gas / Energy / Mining 257,700 HNL
Maintenance Engineer Oil / Gas / Energy / Mining 296,000 HNL
Maintenance Superintendent Oil / Gas / Energy / Mining 254,800 HNL
Material Controller Oil / Gas / Energy / Mining 197,600 HNL
Mine Engineer Oil / Gas / Energy / Mining 273,000 HNL
Mine Surveyor Oil / Gas / Energy / Mining 311,700 HNL
Mining Project Administrator Oil / Gas / Energy / Mining 268,900 HNL
Mining Project Assistant Oil / Gas / Energy / Mining 209,500 HNL
Mining Project Controls Consultant Oil / Gas / Energy / Mining 332,100 HNL
Mining Project Coordinator Oil / Gas / Energy / Mining 259,100 HNL
Mining Project Engineer Oil / Gas / Energy / Mining 277,400 HNL
Mining Project Manager Oil / Gas / Energy / Mining 363,000 HNL
Mining Site Manager Oil / Gas / Energy / Mining 385,300 HNL
Mining Team Leader Oil / Gas / Energy / Mining 312,400 HNL
NDT Technician Oil / Gas / Energy / Mining 183,700 HNL
Oil Service Unit Operator Oil / Gas / Energy / Mining 157,600 HNL
Oil Trader Oil / Gas / Energy / Mining 396,300 HNL
Oilwell Pumper Oil / Gas / Energy / Mining 106,500 HNL
Petroleum Geologist Oil / Gas / Energy / Mining 504,500 HNL
Petroleum Pump System Operator Oil / Gas / Energy / Mining 164,200 HNL
Petroleum Technician Oil / Gas / Energy / Mining 175,900 HNL
Pipeline Technician Oil / Gas / Energy / Mining 106,440 HNL
Power Coordinator Oil / Gas / Energy / Mining 180,500 HNL
Power Plant Operations Manager Oil / Gas / Energy / Mining 548,800 HNL
Power Plant Operator Oil / Gas / Energy / Mining 228,000 HNL
Radio Operator Oil / Gas / Energy / Mining 134,600 HNL
Reliability Engineer Oil / Gas / Energy / Mining 281,500 HNL
Reservoir Engineer Oil / Gas / Energy / Mining 266,000 HNL
Risk Analyst Oil / Gas / Energy / Mining 354,000 HNL
Roughneck Oil / Gas / Energy / Mining 292,000 HNL
Scaffolder Oil / Gas / Energy / Mining 187,300 HNL
Shutdown Engineer Oil / Gas / Energy / Mining 247,800 HNL
Solar Energy Installation Manager Oil / Gas / Energy / Mining 451,000 HNL
Solar Energy Systems Engineer Oil / Gas / Energy / Mining 313,700 HNL
Solar Photovoltaic Installer Oil / Gas / Energy / Mining 197,600 HNL
Solar Thermal Technician Oil / Gas / Energy / Mining 189,300 HNL
Supply Operations Manager Oil / Gas / Energy / Mining 499,300 HNL
Sustainability Specialist Oil / Gas / Energy / Mining 459,700 HNL
System Development Advisor Oil / Gas / Energy / Mining 330,700 HNL
Tanker Truck Driver Oil / Gas / Energy / Mining 115,080 HNL
Utility Operator Oil / Gas / Energy / Mining 159,500 HNL
Wind Energy Project Manager Oil / Gas / Energy / Mining 417,200 HNL

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