Salaries for workers in the oil and gas industry have surged by 8.5% in the past 12 months, according to a new industry survey.
The sector continues to show massive salary growth – with this year’s rise coming on top of a 6% increase last year.
The average global salary is US$87,300 – but the wages for workers in many countries burst through this level.
The top five countries for average earnings are:
| Country | Average salary | |
| 1 | Australia | US$163,600 |
| 2 | Norway | US$153,600 |
| 3 | New Zealand | US$127,600 |
| 4 | Canada | US$123,800 |
| 5 | USA | US$121,400 |
Source: Oil and Gas Global Salary Guide 2013
The figures were compiled by job web site Oil and Gas Job Search, which commented few industries have shown such salary growth in recent years as a result of global economic uncertainty.
Political unrest
“Companies and the recruitment industry have worked hard to even out pay between countries,” said the report. “Permanent salaries for oil and gas workers rose by a significant amount.
“But although headline figures are outstanding for many countries, variations between the top and bottom levels of pay for the same job in different countries have narrowed. Top salaries have plateaued on dropped slightly, while demand for cheaper talent has increased, which raises salaries at the bottom end.”
The survey also highlights industry concerns from employers –
- 37.3% cite skills shortages threaten their businesses
- 7.2% suffer from immigration/overseas visa problems
- 25.3% are worried about economic instability
- 8.1% have fears over security and personal safety resulting from social unrest
- 11.8% harbour environmental concerns
The survey pointed out that political issues in Venezuela and Iran led to major fall-out in the industry.
Shale oil and gas
Although shale gas drilling and exploration carried on apace in the US, UK and other countries, environmental issues and ‘disappointing’ exploration results led to developments cancelled and lower local salaries.
Imported salaries – those that include some element of danger money and hardship allowances – are creeping up.
Russia, where a risky arctic exploration program is underway and China, where unconventional skills are called for, are leading the way.
Trinidad and Tobago, the Caribbean hub for oil and gas also pays high salaries.
“China is the big surprise in the figures,” said the report. “Although demand from manufacturers is falling away, the country is still determined to become self-reliant on energy, so salaries are showing growth even though demand for oil is declining from industry.
“Exploration and infrastructure is driving salaries rather than any increase in any domestic energy demand.”
