Rising wages in oil and gas industry signal positive outlook in 2012
The annual Salary Guide of Hay Oil Gas reveals that the wages and sentiments in the oil and gas industry is booming despite the world wide concerns over the global economy.
The average world wide salary of a full time professional is up by 6.1% in the last 12 months reaching to US$80,458 annually according to the Salary Guide. The employer confidence has increased by 26.7% which is extremely positive about the current market. Matt Underhill Managing Director of Hays Oil Gas states that there has been a distinct move to employ permanent staff rather than contractors for many oil companies which displays an outlook that suggests the industry is on a firm footing.
Nevertheless the Salary Guide points to an industry full of confidence and opportunity as we progress through 2012. Duncan Freer Managing Director of Oil and Gas Job Search points out that while many of the Western economies have witnessed anaemic rise in wages, the oil industry has rewarded its professionals with robust growth and a wealth of opportunities. Salaries are rising with the staffing levels and promising projects coming to fruition, there is every reason to be upbeat about the oil and gas industry over the coming 12 months and beyond.
- The pendulum is swinging? Falling oil prices shifts energy balance in favor of the West
- Saudi Arabia has picked the worst time possible to be building massive oil refineries
- Aiming to reduce dependency: an inside look into Jordan's attempts to increase domestic energy production
- Stuck up on oil: the GCC's lackluster diversification record
- Renewable energy: the way out of deep Egypt's economic troubles?