Oil and gas employees earn twice the national average salary, finds Hays Oil and Gas
HR Editorial, February 02, 2012
UK oil and gas industry professionals are enjoying salaries on average more than double that of other workers according to The Oil and Gas Global Salary Guide 2012, which is based on data from over 14,000 respondents.
The Guide, produced by Hays Oil & Gas and jobsite Oil and Gas Job Search, shows full time UK oil professionals enjoy average salaries of £55,850 per annum which is more than twice the national salary average of £26,244.
The Guide also finds that contractors in the North Sea are amongst the best paid anywhere worldwide although Australia and Canada and other regions are offering great rewards that have led to talent drains over the last few years.
UK based oil and gas professionals earn double the national wage, some much more for certain disciplines and experience that are surveyed in the research.
The 2012 survey also demonstrates strong growth in salaries for imported labour. Expat labour can command average salaries of £51,890 per annum: up 6.8% on the previous year.
Contractor day rates for those working in the North Sea (including the UK, Scandinavia and the Netherlands) are amongst the most competitive worldwide. Experienced engineers and managers can expect average rates of £540 per day and, for director level contractors, this figure rises to around £900 per day.
Matt Underhill, MD of Hays Oil & Gas, said: "Last year we reported a 30% rise in contractor wages for UK professionals. This was particularly encouraging for UK based oil and gas professionals as the rates are a good indicator of the state of the job market, being more reactive to short-term changes in demand for skills.
"The figures from the 2012 guide demonstrate that the UK oil and gas industry has maintained this recovery and day rates remain buoyant."
The Salary Guide, which features data from more than 50 countries, reveals continuing global confidence is the central finding of the report. Over 30% of respondents expect salaries to go up by more than 10% in the next 12 months.
Employer confidence has also seen a large increase with 26.7% being extremely positive about the current market: up from just 9.7% in 2011. Three quarters of all employers expect staffing levels to increase in the next 12 months.