South American oil and gas professionals well rewarded according to Global Salary Guide
Brazil based oil and gas industry professionals are the 8thbest 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. Argentina and Colombia also see strong salary growth for home-grown talent.
The Guide reveals that local professionals working in Brazil earn on average USD$111,000 per annum, Argentina USD$94,200, Colombia USD$81,700 and Venezuela USD$62,200. According to the guide, Australia is now leading the way with an average industry salary of USD$163,600 per annum.
Imported oil and gas professionals working in South America are seeing strong growth in salaries. As the market has tried to keep up with the level of investment in Brazil we have seen a massive 23.15% increase in the average for imported salaries, up to USD$131,400 per annum. Expats are enjoying the highest levels of pay in Australia, the Philippines and Trinidad.
Matt Underhill, Managing Director of Hays Oil & Gas comments: “The Salary Guide also reveals 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.”
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.
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, Managing Director of Oil and Gas Job Search comments: “Despite the concerns in Europe and a slowdown in China’s growth, the sentiment in the oil and gas industry remains positive. Current employees and new entrants to the industry can look forward to working in a dynamic and highly rewarding sector.”
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