Wages are holding up well, especially in comparison to other industries. US oil and gas professionals are enjoying competitive salaries, and can look forward to that remaining the case
(PRWEB UK) 21 March 2011
A new salary survey reveals that American oil and gas industry professionals’ wages have held up well despite uncertainty in the wider economy.
The Salary Guide, produced by Hays Oil & Gas in partnership with specialist jobsite Oil and Gas Job Search, shows that US oil and gas professionals’ salaries have remained resilient, with wages marginally higher than last year at US $117,000.
Daily contract rates, a key indicator of future salary trends, registered slight growth, from $820 last year, to $840 in 2011.
The survey further reveals that US based professionals, combining local and expat labor, is once again in the top five paying countries (alongside Australia, Canada, Norway and The Netherlands). *
“This is encouraging for those working in the industry,” says Matt Underhill, Managing Director of Hays Oil & Gas, “However, there is still a little way to go before the US oil and gas labour market can feel it is back to full health.”
Imported labour rates also remained high, with average annual salaries at US $110,600 and daily contractor rates at $870.
Duncan Freer, Managing Director of Oil and Gas Job Search, points out that there are more reasons for optimism: “Even though average industry salaries are high, for those registering 20 years or more in the oil and gas sector the average wage is often considerably more.”
Freer continues: “Moreover, certain disciplines, such as drilling, sub-sea and structural engineers, can command very attractive packages indeed.”
Overall, the guide shows positive growth and sentiment towards salaries in the sector. Over the next 12 months, nearly 47 per cent of respondents believe that salaries will increase by 5 per cent or more.
Freer comments: “Wages are holding up well, especially in comparison to other industries. US oil and gas professionals are enjoying competitive salaries, and can look forward to that remaining the case.”
The 2011 Oil & Gas Global Salary Guide is based on the responses of almost 11,000 industry professionals across the world.
- Based on the average of combining local and imported labor. Norway was not in the top five paying countries in 2010, the others retained that mantle.
The oil and natural gas industry supports 9.2 million U.S. jobs and 7.5% of US GDP.
For further information please contact Caroline Stallion, Marketing Executive of Hays Oil & Gas, on +61 8062 6122 or caroline(dot)stallion(at)hays(dot)com(dot)au or John Roberts, Marketing Director of Oil and Gas Job Search on + 44 161 975 6026 or john(at)oilandgasjobsearch(dot)com.
Hays is the leading global specialist recruiting group and employs 6,845 staff in 30 countries across 17 specialisms. For the year ended 30 June 2010, Hays placed around 50,000 candidates into permanent jobs and around 180,000 people into temporary assignments.
Oil and Gas Job Search launched in 2000. The site is now firmly established as the world's leading online resource for the oil and gas industry and is used by the leading companies in the industry. The site has over 320,000 registered users.
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