Norway based oil and gas professionals are enjoying some of the highest salaries in the world, according to The Oil and Gas Global Salary Guide 2012.
The Guide, produced annually by Hays Oil & Gas and leading jobsite Oil and Gas Job Search, reveals that Norwegians earn the highest worldwide salaries, averaging 1.07 million Norwegian Krone (US$180,300) per annum. *
Salaries for imported labour average 728,700 Krone ($122,800), which compares favourably the 53 countries surveyed.
In comparison, global average salaries, based on over 14,000 respondents surveyed, now stand at 477,400 Krone ($80,458), which is less than half the Norwegian average.
Duncan Freer, Managing Director of Oil and Gas Job Search comments: “We need to remember that these are only average salaries. There will be many Norway based professionals earning considerably more, especially for in-demand disciplines such as subsea engineering.”
Northern European contractor rates (incorporating Norway, Netherlands and the UK) performed particularly well in the 2012 Guide with senior staff averaging day rates of 3976 Norwegian Krone ($670), management level staff averaging 4985 Krone ($840) and director level staff averaging 8189 Krone ($1380).
Freer continues: “Contractor rates are one of the best forward indicators of how wage prospects might develop and so this data gives a highly promising outlook to Norway based oil and gas professionals, and consequently that reflects a healthy industry.”
The overall outlook for the global oil and gas industry is very positive. Over 30% of 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: “The Norwegian and global oil and gas industry look to be in very good shape as we enter 2012. While many other sectors continue to struggle, the oil and gas industry remains resilient and a highly rewarding place to work.”
Download your free copy at www.oilandgasjobsearch.com/salary or www1.hays.com/oil-and-gas/salaryguide2012.aspx
Source: Oil and Gas Job Search