Hays releases ’The Oil and Gas Global Salary Guide 2012’
Hays has released ’The Oil and Gas Salary Guide 2012’ which shows UK oil and gas professionals are being well rewarded in a buoyant industry.
Hays has revealed 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 commented: “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 continued: “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 added: "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, commented: “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.”
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Notes to Editors:
* Conversion for US$:UK £ is US$1:UK£0.641
** UK average salaries supplied by Annual Survey of Earnings.
2012 Salary Guide Summary:
Disciplines covered - 24
Countries represented - 53
Respondents to the survey -14,400
Respondents working with a global super major - 1,200
Respondents who are employers in the industry - 5,400
Hays is the leading global specialist recruiting group. It is the expert at recruiting qualified, professional and skilled people across the full lifecycle of the global oil and gas industry. Its recruiting experts deal in both permanent positions and contract roles within upstream, project development and downstream operations.
Hays employs 7,620 staff operating from 257 offices in 32 countries across 20 specialisms. For the year ended 30 June 2011, Hays placed around 60,000 candidates into permanent jobs and around 190,000 people into temporary assignments, including engineering jobs, building services jobs, accountancy jobs, finance jobs and architecture jobs.
Oil and Gas Job Search is the world’s premier job site dedicated to professionals who work in the oil and gas industry.
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