Oil and gas sector salary increases fell rapidly, survey finds

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7th September 2015 12:56 - Oil and Gas

A recent survey by recruitment firm, Nigel Wright, has revealed that salary increases in the oil and gas industry have fallen rapidly over the last Salary increases in oil and gas sector fell rapidly, survey finds12 months, with the uncertainty surrounding oil prices being reflected in oil and gas employees’ salaries.

The survey, entitled Oil and Gas Salary Survey 2015 questioned approximately 1,000 individuals across all levels, and discovered that senior managers worked an average of 53 hours per week. As well as this, the survey found that technical workers worked approximately 44 hours per week and those in supply chain positions worked approximately 40 hours per week.

According to the findings, salaries increased by 2.3 per cent in 2015, a fall from last year’s 5.5 per cent rise.

The survey also revealed that the average salary in the oil and gas industry was £76,000.

For the most part, the respondents were either satisfied in their current job (20 per cent) or moderately satisfied (37 per cent) although, 21 per cent said that they were moderately dissatisfied and 4 per cent said they were very dissatisfied. The findings revealed that those in non-management roles were more likely to be unhappy in their job, with more than 50 per cent saying that they were either moderately or very dissatisfied; however, just over 45 per cent said that they intended to find a new job in the next 18 months.

The workers at middle management level experienced the largest salary increase in their last review, at an average rate of 3.2 per cent, closely followed by Managing Directors, who gained a 2.3 per cent pay rise.

The respondents ranked their preference of benefits according to remuneration. The top three were: employer contributory pension schemes, flexible working and holiday entitlement.

The survey findings also showed that the amount of people who received personal and company bonuses has decreased over the years. Of the respondents who do get a bonus, many anticipated that they would not to get one in their next review.

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