Substantial wage growth for US Oil and Gas industry, according to new Salary Guide

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US based oil and gas professionals are enjoying strong growth in wages according to The Oil and Gas Global Salary Guide 2012

US based oil and gas professionals are enjoying strong growth in wages according to The Oil and Gas Global Salary Guide 2012, produced annually by Hays Oil & Gas and leading jobsite Oil and Gas Job Search.

The Guide, based on over 14,000 respondents, registers a 12 month salary increase of $7,000 for local labor, bringing current average wages up to $124,000.

Imported labor also benefited from the strength of the US oil industry. Average wages now stand at $119,400, up from $110,700 on the previous year.

In comparison, global average wages in the oil industry now stand at $80,458, up from $75,813 on the 2011 Guide’s figures.

Contractor rates for North America, a valuable indicator of future trends in wage growth, remained robust and competitive compared to other regions.

Management level staff can expect an average day rate of $810, while directors and VP level contractors enjoy an average of $1,100 per day.

Matt Underhill, Managing Director of Hays Oil & Gas, comments: “US wage growth, across sectors and after inflation has been taken into account, has been minimal - hovering around 1% for a great part of 2011. * Our research for the US oil and gas industry defiantly bucks the general trend.”

The health of the US oil industry is echoed overseas by the Guide, which collected data from 53 countries. It found that 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% stating they are 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.

Duncan Freer, Managing Director of Oil and Gas Job Search comments: “New drilling and production techniques have opened up natural gas resources. This, combined with other success stories, such as the deep water projects in the Gulf of Mexico, have helped lead to a rejuvenation of the US oil industry.”

Matt Underhill, Managing Director of Hays Oil & Gas, summarises: “The US oil industry looks robust and in better health than it has for some time. I believe that the strong upward trends we have seen in our data over the last few years are set to continue.”

Ends

Download your free copy at http://www.oilandgasjobsearch.com/salary or www1.hays.com/oil-and-gas/salaryguide2012.aspx

For further information please contact John Roberts, Marketing Director of Oil and Gas Job Search on + 44 (0) 161 975 6026 or john(at)oilandgasjobsearch.com or Daniel Lynch: +61 (0) 2 8062 6122 or daniel.lynch(at)hays.com.au

Wage inflation source

  • Charles Biderman, TrimTabs Investment Research

Notes
2012 Salary Guide Summary:
Disciplines covered                24
Countries represented         53
Respondents to the survey    14,400
Respondents working with a global super major     1,200
Respondents who are employers in the industry     5,400

Hays is the leading global specialist recruiting group. It is the expert at recruiting qualified, professional and skilled people across the full lifecycle of the global oil and gas industry. Its recruiting experts deal in both permanent positions and contract roles within upstream, project development and downstream operations.

Hays employs 7,620 staff operating from 257 offices in 32 countries across 20 specialisms. For the year ended 30 June 2011, Hays placed around 60,000 candidates into permanent jobs and around 190,000 people into temporary assignments.

Oil and Gas Job Search is the world’s premier job site dedicated to professionals who work in the oil and gas industry:

400,000+ searchable resumes
10,000+ new candidate registrations per month
1 million+ job searches per month
50,000+ job applications per month
380,000 visits per month
3.2 million page views per month

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John Roberts
Oil and Gas Job Search
(440) 161-9256 x286
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