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Professionals in the oil and gas industry are enjoying significant wage growth, according to the Oil and Gas Global Salary Guide 2013 by recruiter Hays. This found that oil and gas professionals have seen global average salaries of $87,300 per year, up +8.5% from a year ago.
The survey of 25,000 respondents found the salary rise was due to healthy industry trends, relatively stable oil prices and a worldwide skills shortage. Australian-based oil and gas industry professionals are paid the best salaries in the world, followed by Norway, New Zealand, the Netherlands and Canada.
The research also showed a rise in bonuses, the main tool used by companies to attract and retain workers. On average, bonuses account for a further 5.8% of the employee’s overall package with almost two thirds receiving some kind of benefit or allowance on top of their basic salary.
Employer confidence in increasing staffing levels during 2013 also remains high. A quarter expect staffing levels to jump by over +10% while 75% project some level of increase.
“Despite the concerns in Europe and a slowdown in China’s growth, the sentiment in the industry remains positive. Current employees and new entrants to the industry can look forward to working in a dynamic and highly rewarding sector,” said Duncan Freer, managing director at Oil and Gas Job Search which helped produce the survey.