Is Salary Becoming Less Important in Oil and Gas?



Is Salary Becoming Less Important in Oil and Gas?
Rigzone's latest Ideal Employer Survey showed a drop in ranking for the attribute of a competitive salary.

Amanda McCulloch, managing director of Thorpe Molloy Recruitment Ltd. (TMR), said the findings from the IES make for interesting reading and added that, taken at face value, the assumption could be that a competitive salary is becoming less important to oil and gas professionals.

McCulloch emphasized, however, that this is not reflected in the company’s day-to-day dealings with candidates and revealed that she believes rates of pay are not necessarily less important at all.

“Our experience is that oil and gas professionals are acutely aware of the growing number of opportunities in the job market and they are curious to understand the value of their skills,” McCulloch stated.

“Appreciating this shift in candidate confidence, employers are conducting salary benchmarking activities to gain an understanding of the competitive remuneration environment,” the TMR representative added.

McCulloch said salary remains a priority for oil and gas professionals and revealed that she’d wager competitive salary will always rank “very highly” in future IES projects. The TMR MD did note, however, that with “more job choice” in the market, salary is considered alongside other “personal drivers”.

Rigzone’s proprietary IES research was conducted to explore current market sentiments of global oil and gas professionals. The 2019 IES, which ran between November 2018 and March 2019, was distributed via a range of channels including email, banners, on-site pop-ups, Facebook and Twitter.

To contact the author, email andreas.exarheas@rigzone.com


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WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Grant Pierce  |  September 17, 2019
Salary is not becoming less important. The trend down is because the business DOES NOT pay any longer. You make more money working at walmart
Melanie D Hartman  |  September 13, 2019
I am seeing this first hand in the northeast. People banked on the idea of finishing out their careers in the oil field service industry even with lower wages, but this does not seem to be reality. The northeast is falling apart like the 2008 and 2015 crash. Companies are looking to either layoff field employees, or reduce the employees wages to the point they won't be able to work for them.
jbprice  |  September 11, 2019
"As the industry continues to be volatile, both in pricing and the resulting hiring swings, job security and the future of the company seems to be more important to our candidates than obtaining the maximum salary,” Bush said." So where does JOB SECURITY fall within the categories captured in the survey? It wasn't entirely obvious to me anyway.
Fuh Jerry Niba  |  September 11, 2019
Am from Cameroon west Africa, before you sign a contract going to offshore with a good salary which could take care of your bills and health in the family. But today projects have become greedy in such a way that the employee don't care if you live, all they want is for the work be realise. What a shame for us.
Patrick  |  September 11, 2019
You are on the field, you are young and able to do something else... Leave this Sh... Believe me! more than 30 Years for Well Services companies.
Luis Medina  |  September 11, 2019
Interesting result, I would have appreciated a different title.
Taylor  |  September 11, 2019
No, next question.