Average Oil and Gas Professional Earns $80,458

Wages and confidence are surging in the global oil and gas industry, according to the annual Salary Guide produced by Hays Oil & Gas and Oil and Gas Job Search. The Salary Guide, based on over 14,000 respondents worldwide, reveals an industry generally brimming with confidence despite widespread concerns over the global economy.

Employer confidence has seen a large increase with 26.7 percent extremely positive about the current market: up from just 9.7 percent in 2011. Three quarters of all employers expect staffing levels to increase in the next 12 months. Matt Underhill, Managing Director of Hays Oil & Gas, comments: “There has been a distinct move to employ permanent staff rather than contractors for many oil companies, which displays an outlook that suggests the industry is on a firm footing. However, conversely there is still great demand for contractors due to a raft of major projects coming on board and new regions increasingly using contractors. With the upward progression of contractor rates throughout 2011, the signs are positive as we enter 2012.”

The average worldwide salary for a full time professional is now $80,458 per year, up 6.1 percent in the past 12 months. Duncan Freer, Managing Director of Oil and Gas Job Search points out: “Many industry professionals are rewarded at far higher rates than the average figures suggest, especially if they have a good level of experience or particular in-demand skills such as drilling and the geosciences. While many western economies have witnessed anemic rises in wages, the oil industry has rewarded its professionals with robust growth and a wealth of opportunities.”

The USA, Canada, Norway, The Netherlands and Australia once again feature prominently in the current guide but, as Matt Underhill points out, there are also areas of tremendous potential around the world. “Brazil, China and Iraq are rising stars that have seen significant salary hikes driven by some very exciting and bold projects.”

Underhill summarizes: “There are concerns that the Guide highlights such as the continuing issue of skills shortages and, of course, economic and political instability. Nevertheless, the Salary Guide points to an industry full of confidence and opportunity as we progress through 2012. Salaries are rising as are staffing levels and with a range of promising projects coming to fruition, there is every reason to be upbeat about the oil and gas industry over the coming 12 months and beyond.”