Survey Shows Oil and Gas Industry is Benefitting From Rising Salaries

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29th September 2014 10:35 - Oil and Gas

The oil and gas sector has continued to benefit from increasing salaries over the last 12 months, according to Nigel Wright’s 2014 UK Oil and Gas Salary Survey.

The research’s results show that the average salary for oil and gas employees has now reached £80,000 - this ranges from up to £250,000 for senior management level workers down to £30,000 for non-management level staff.

The survey, which polled 1,000+ oil and gas workers in the first quarter of 2014, also discovered that more than half (55%) of its respondents were planning on changing jobs within the next year and a half, with around half of this figure having only been with their current employer for less than two years.

The comprehensive survey covered a range of oil and gas sub-sectors, including: engineering; supply chain; planning; health and safety; sales and marketing; business development; finance and human resources.

The study’s findings uncovered evident gender imbalance, with just over one in 10 (12%) of the poll’s 1,000+ respondents female. The research also discovered that three fifths (60%) of its sample were educated to degree level.

Furthermore, three quarters (75%) of the survey’s participants said they received a company performance related bonus as part of their pay package, with two fifths (40%) stating they are given both company and personal bonuses.

According to the study’s results, pay does somewhat relate to the amount of hours which are worked, with support staff found to work an average of 43 hours a week, compared to the 53 hours input on average by senior management level staff.

Anthony Broadhead, Managing Consultant for Nigel Wright’s Energy Division, said: “Skills shortages, not just in the UK, but in the global energy industry, are a factor in driving up wages as companies have to pay premium salaries to attract and retain staff.

“However, the industry is trying to address the skills issue through greater investment in apprenticeships and by retraining engineers from other industries, which can help increase the pool of available workers and better control costs.”

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