Energy professionals in the UK are better paid compared to workers in other industries, according to a Salary and Benefits survey by Hays Energy conducted in partnership with the Energy Institute (EI). The survey has revealed that the average salary in the sector is significantly higher than the UK national average of £26,244*, with 74% of those surveyed earning in excess of £41,000. Added to this, over two thirds (69%) received a salary increase over the last twelve months and half received a bonus in the same time period.
The Salary and Benefits survey is based on over 900 responses and presents the average salaries of energy professionals working across more than 12 discipline areas. The results prove that energy professionals have remained a valuable asset despite the global financial crisis. Demand for energy professionals across the UK is currently increasing and in London there is high demand for oil and gas professionals, for both upstream and downstream roles.
Annual leave entitlement tops the list of benefits that workers currently receive, followed by pensions and health related insurance. However, when looking for a new position, a challenging and interesting role beats pensions in the desirable benefits stakes. Over three quarters (80%) of respondents receive training support and over a third hold a postgraduate qualification (41%), which is an indicator of employers’ commitment to career development.
Eliot Davies, Director, Hays Energy, comments, “Employers want to attract, retain and reward highly skilled and experienced individuals, which is demonstrated by the salary and benefits packages on offer. Job satisfaction remains high among the workforce, which reinforces our findings that careers in the sector are rewarding, both in financial and development terms. The opportunity to work globally is also a major factor, attracting jobseekers to the industry.”
Sarah Beacock FEI, Professional Affairs Director, Energy Institute, adds, “This survey clearly shows that well qualified and experienced energy professionals are sought after and therefore highly valued. There is no doubt that there is a shortage of talent in some specialisms of the energy industry. The challenge is around conveying the value and satisfaction of a career in energy to a younger generation and encourage the further take-up of science, technical, engineering and mathematics skills to ensure we have the human resources to lead the industry in the future.”
UK Key findings:
- 74% of those surveyed earn in excess of £41,000 per annum
- 69% of people have had a salary increase in the last 12 months
- 50% of individuals have received a bonus in the last 12 months
- 41% of people are qualified to Masters degree level or above
- A new challenge, higher salary and career development were the most important factors in looking for a new role