PAYE umbrella contractors with skills in the oil and gas industry are likely to be cheered by the latest Oil and Gas Salary Guide, which polled more than 14,000 workers in the industry. After a difficult year in 2011, the oil and gas industry appears to be springing back into rude health.
The Salary Guide for 2012 was produced by the Oil and Gas Job Search website and recruiters Hays Oil & Gas. Salaried workers and contractors working through umbrella companies or limited companies have all seen significant improvements in pay rates. Full-time oil professionals in the UK can now expect to command salaries of £55,850 per annum – well over twice the national average of £26,244.
Imported labour, too, has also enjoyed a pay hike: expat workers can expect salaries of £51,850 per year, an impressive rise of 6.8% on last year. Given that many in the UK workforce are facing pay freezes and even pay cuts, this clearly isn’t to be scoffed at.
Some of the most impressive pay rates have gone to contractors – those of them that work in the North Sea, anyway (that vast area includes Scandinavia and the Netherlands as well as the UK). The most experienced and skilled engineers and managers are taking home average daily rates of £540 per day. Contractors at director level are doing especially well, regularly attracting daily rates of £900.
Hays Oil & Gas Managing Director Matt Underhill commented on the recovery, which began in 2011.
“The figures from the 2012 guide demonstrate that the UK oil and gas industry has maintained this recovery and day rates remain buoyant.”