Earnings
 A major component in the decision of which jobs you will chose to take
during your career will be money. Money is the primary compensation for
work in today's society. It is also often a baseline metric for the
apparent "value" of your efforts. However, not all potential employers can
offer the same earning potential for the same job, you must reflect on the
total compensation and professional package offered by an employer. Issues
such as benefits, leave, professional development, and opportunities for
advancement can often balance a compensation package which may not have
the same monetary offer.
 Salary
Data
Median annual earnings of
geoscientists were $72,660 in May 2006. The middle 50 percent
earned between $51,860 and $100,650; the lowest 10 percent
earned less than $39,740, the highest 10 percent more than
$135,950.
The petroleum,
mineral, and mining industries offer higher salaries, but less
job security, than other industries because economic downturns
sometimes cause layoffs.
According to the
National Association of Colleges and Employers, beginning salary
offers in July 2007 for graduates with bachelor's degrees in
geology and related sciences averaged $40,786 a year.
In 2007, the Federal Government's average salary was $87,392 for
geologists, $100,585 for geophysicists, and $93,461 for
oceanographers.
Industry
Options
Salaries in the geosciences vary across industries, disciplines, and
economic cycles. Historically, the geosciences have experienced cycles of
hiring with peaks and valleys often directly tied to the price of oil, and
more recently, the trends in environmental regulation. Salaries vary
between different industries such as energy, environment, and mining.
Geoscientist supply and demand in each of these areas is driven by
different factors. The energy industry is strongly driven by the price of
oil and gas, global opportunities for exploration activity, and new
technologies that affect the economics of exploration and production.
In the environmental field, career opportunities and salaries depend
largely on the level of enforcement of environmental codes and on new
legislation developed by the government. In the natural hazards area,
business is fueled by the level of new construction both in the U.S. and
worldwide.
 The mineral resources industry is largely driven by the price of
commodities on the open market. However, like the oil industry, the rapid
aging of the existing population of geoscientists is fueling demand for
new professionals to maintain current employment levels.
You need to track events that affect the geosciences. By developing your
own network and by being involved in professional organizations and
activities, you can remain current on employment and salary trends in
fields in which you are interested.
Note: Some resources in this section are provided by the
American Geological Institute
and the US Department of Labor,
Bureau of Labor Statistics.
|
|
