Oil and gas salaries down
May 2, 2013 | By
Barbara Vergetis Lundin
Average compensation for North American-based oil and gas professionals declined four percent year-over-year to $94,722 in 2012, according to Rigzone, an online career resource for oil and gas professionals. Rigzone gathered the compensation information of 75,591 oil and gas professionals from 2010 to 2012 with approximately 35,000 from North America. Statistical consulting firm Cypress Research Group performed the data analysis. The analysis found that for those oil and gas professionals most often directly connected to drilling activity by working a rotational schedule, compensation declined more than six percent to $105,390 in 2012 from $112,546 in 2011. This can be attributed to a slight drop in drilling activity in North America and a less experienced workforce, according to Rigzone. Although those less experienced workers saw compensation rise two percent year over year, their average compensation -- $68,467 -- is about half of those with 20 or more years in the field ($129,192), the data reveals. "Oil and gas continues to be one of the highest-paying industries for talent, particularly engineering professionals, but also skilled tradesmen and women," said Paul Caplan, president of Rigzone. "It makes a ton of sense in the fourth year of an expansion companies have reached out and hired less experienced talent to join the field. Those young professionals are attracted by the compensation, challenge and the opportunity to have a global career from day one." For more: © 2013 FierceMarkets. All rights reserved. http://www.fierceenergy.com http://www.fierceenergy.com/story/oil-and-gas-salaries-down/2013-05-02 |