Canadian oil and gas professionals remain amongst the world’s highest paid, according to Global Salary Guide
Canadian based oil and gas industry professionals are the 5thbest rewarded in the world, according to the Oil and Gas Global Salary Guide 2013 produced annually by expert recruiters Hays Oil & Gas and leading jobsite, Oil and Gas Job Search.
The Guide reveals that local professionals working in Canada earn on average CAD$125,680 per annum*. This just outstrips neighbouring USA at CAD$124,000 equivalent by a narrow margin. Australia is now leading the way with an average industry salary of CAD$167,160 per annum.
Imported oil and gas professionals in Canada now earn CAD$122,500 on average per annum, which is still high but is some way behind many other nations. Expats are enjoying the highest levels of pay in Australia, the Philippines and Trinidad.
The Salary Guide, which bases its figures on more than 25,000 industry professionals across the globe, states the growth of salaries can be attributed to a buoyant industry with a relatively stable oil price and a worldwide skills shortage.
The Guide also revealed that a rise in bonuses has continued and is now the dominant mechanism by which companies attract and retain talent. On average, bonuses account for a further 5.9 per cent of the employees overall package with almost two thirds receiving some kind of benefit or allowance on top of their basic salary.
Matt Underhill, Managing Director of Hays Oil & Gas comments: “The industry is taking positive steps in increasing pay and benefits that will keep Canada competitive on the world stage but there is still some way to go to stop a drain of talent to overseas markets.”
Duncan Freer Managing Director of Oil and Gas Job Search, comments: “There is no doubt that the Canadian oil and gas industry is one of the busiest in the world right now and this is clearly highlighted in our findings.”
Employer confidence in increasing staffing levels during 2013 remains high. A quarter expect staffing levels to increase by more than 10 per cent with almost 75 per cent anticipating some level of increase.
Duncan Freer, comments: “Despite the concerns in Europe and a slowdown in China’s growth, the sentiment in the oil and gas industry remains positive.
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* Salaries are expressed in US Dollars in the Salary Guide. Exchange rate used in this release is US$1:CAD$1.02.