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April 2023 - Chemicals

Half of the professionals working in petrochemicals reported pay rise this year: A survey of energy professionals has revealed that half of those working in petrochemicals received a pay rise this year, which was highest of any sector polled for the Global Energy Talent Index (GETI) 2023. It was also an increase of 11% on last year's findings.

The annual report by Airswift, an international workforce solutions provider within the energy, process and infrastructure industries,surveyed 10,000 energy professionals of 149 different nationalities across five industry sub-sectors: oil and gas, renewables, power, nuclear and petrochemicals.

When looking at petrochemicals, the research found that 22% of professionals working in the sector had received a pay rise of more than 5%, with 28% revealing a salary increase of between 0 -5%. For 45% of respondents, their salary remained the same as the previous year, while 5% saw a decrease. 

Looking to next year, the survey found that three-quarters of professionals are expecting to see their salary increase, which is a rise from 63% last year, with just 4% saying they are expecting a decrease in pay next year. Looking at petrochemical  hiring managers, the survey revealed that 35% reported pay rises of more than 5% in the last year, with seven in 10 respondents expecting pay to rise next year. Of these, 44% are expecting pay to increase in excess of 5%. 

The survey also looked at global mobility, with 83% of petrochemical professionals saying they would consider relocating for work, a fall of five percentage points of last year's survey (88%). The most attractive region to relocate to found the survey was Europe, with 35% of respondents rating it as their top destination, followed by the Middle East (19%) and North America (15%). In fourth was Austalsaisa (9%) followed by Asia (8%), South America (7%), CIS (4%) and Africa (3%). 

Janette Marx, CEO of Airswift, comments: “Worker sentiment is trending downward for global relocations due to uncertainty in markets, continuations of COVID-19, and the need to remain close to family. Hiring managers will have a tighter talent pool if candidates are geographically locked into their local area.”

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