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UK oil and gas professionals see salary drop

Oilfield Technology,

According to the Oil and Gas Global Salary Guide 2014, which is based on data from over 24 000 respondents, UK oil and gas professionals are experiencing a slight drop in wage levels.

The Guide shows that local full time professionals in the UK oil and gas industry enjoy average salaries of US$ 55 400 per year. This shows a rate of decrease of 2.4% from last year

The Guide shows less of a decrease for expat labour, which now commands an average salary of US$ 55 800 per year, down 1.4% on last year.

In comparison, the industry globally has seen a much larger 7.8% decrease in salary levels from 2013.

Meanwhile, employer confidence in increasing staff levels during 2014 remains high. Approximately 25% expect staffing levels to increase by more than 10%, with over 70% anticipating some level of increase.

John Faraguna, Managing Director of Hays Oil & Gas comments: ‘The UK has flat to declining rates this year and is still only ranked 11th out of 53 countries surveyed which is no change from last year. Norway, Australia, Canada, US and Netherlands continue to lead the way in salary levels and surprisingly, France, New Zealand and Columbia have entered the top 10 highest salaries paid to local labour in the industry’.

Duncan Freer, Managing Director of Oil and Gas Job Search also commented: ‘ Whilst the overall level of pay in the UK has stagnated, the government has taken steps to welcome further business and investment in the UK by announcing a new tax allowance aimed at boosting the development of shale gas resources in the UK. If the UK was to overcome geological, political, and environmental hurdles, the UK oil and gas industry would receive a welcome boost compared to other nations.

‘Despite concerns over a sluggish economic recovery, the feeling in the industry remains positive. Employees and new entrants to the industry can look forward to working in a dynamic and rewarding sector’.

Adapted from a press release by Emma McAleavey.

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