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UK oil and gas professionals are being well rewarded in a buoyant industry as employees are earning competitive wages, according to a salary guide published by recruitment firm Hays. This has increased the confidence of many employers as over 26% of those surveyed are extremely positive about the current market, while three quarters of all employers expect staffing levels to increase in the next 12 months.
The research also shows that full-time UK oil professionals enjoy average salaries of £55,850 per annum which is more than twice the average of around £26,200. This, the study claims, demonstrates strong growth in salaries for imported labour while expat labour can command average salaries of £51,890 per annum, up +6.8% on the previous year.
The most competitive contractor day rates can be found for those working in the North Sea, including the UK, Scandinavia and the Netherlands. Experienced engineers and managers can expect average rates of £540 per day and, for director level contractors, this figure jumps to around £900 per day.
"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," commented Matt Underhill, Managing Director of Hays Oil & Gas.
He further said that "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, confirmed that "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 central in the industry and over 30% of respondents expect salaries to go up by more than +10% in the next 12 months.
"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," Mr Underhill said.