Graduate prospects in the oil and gas industry at their most promising in years, according to new salary research
Friday, Mar 16, 2012
The Oil and Gas Global Salary Guide 2012 reveals an industry more receptive to graduates than at any time since the recession, according to Hays Oil & Gas and leading jobsite Oil and Gas Job Search, who produce the Guide annually.
Matt Underhill, Managing Director of Hays Oil & Gas comments: “The industry has generally not been as open in the past as it could have been to new untested talent. However that looks to be changing fast as the industry emerges strongly from the recession with an array of substantial new projects and high demand for energy.”
The 2012 Guide shows an industry offering good salaries and an attractive career path for graduates. Graduate level oil and gas industry professionals can expect wages as high as US$48,700 per annum if they work for one of the global super majors.
The Guide, which covers 24 disciplines, reveals that construction and installation engineers are currently the best rewarded roles for recent graduates.
Duncan Freer, Managing Director of Oil and Gas Job Search points out: “Those graduates that develop their skills and accrue experience in the oil and gas sector can expect substantial rewards as their careers progress.
“Most management level roles have average salaries starting from around the US $100,000 mark and many enjoy considerably higher wages.”
The Guide also reveals that the overall outlook for the global oil and gas industry is very positive. Over 30% of the 14,000 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% 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, summarises: “With this high level of confidence comes demand for labour and the existing number of trained professionals globally is being stretched to breaking point. This is further exacerbated by an aging of the workforce in many countries within oil and gas, including the US, UK and Australia. Ultimately this is driving demand for young talent coming in at an entry level and is welcome news to many developed economies suffering high levels of graduate and youth unemployment.”
Source: Oil and Gas Job Search