UK oil and gas industry professionals are enjoying competitive wages according to The Oil and Gas Global Salary Guide 2012, which is based on data from over 14,000 respondents.
The Guide, produced by Hays Oil & Gas and leading jobsite Oil and Gas Job Search, shows that full time UK oil professionals enjoy average salaries of £55,850 # per annum which is more than twice the national salary average of £26,244. *
The 2012 survey also demonstrates strong growth in salaries for imported labour. Expat labour can command average salaries of £51,890 per annum: up 6.8% on the previous year.
Contractor day rates for those working in the North Sea (including the UK, Scandinavia and the Netherlands) are amongst the most competitive worldwide. Experienced engineers and managers can expect average rates of £540 per day and, for director level contractors, this figure rises to around £900 per day.
Matt Underhill, Managing Director of Hays Oil & Gas comments: “Last year we reported a 30% rise in contractor wages for UK professionals. This was particularly encouraging for UK based oil and gas professionals as the rates are a good indicator of the state of the job market, being more reactive to short-term changes in demand for skills.”
Underhill continues: “The figures from the 2012 guide figures demonstrate that the UK oil and gas industry has maintained this recovery and day rates remain buoyant.”
Duncan Freer, Managing Director of Oil and Gas Job Search adds: “Average oil and gas salaries in the UK are around 8% more than the worldwide average.
“Greater activity is scheduled for 2012 and beyond following a difficult period during the recession. Despite some forecasts many oil companies are continuing to invest in the North Sea so it is a time to look forward with confidence.”
The Salary Guide, which features data from over 50 countries, revealed that continuing global confidence is the central finding of the report. Over 30% of respondents expect salaries to go up by more than 10% in the next 12 months.
Employer confidence has also seen a large increase with 26.7% being extremely positive about the current market: up from just 9.7% 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: “The salaries, day rates and general sentiment in the guide reflect a strong and confident industry. There are now tremendous opportunities for new graduates and candidates with transferable skills to enter a buoyant and rewarding industry.”
