Posted on 22.03.2011 - 06:40 EDT in JOB NEWS by jamesmc
15% rise in Canadian oil and gas professionals wages reflect healthy industry according to new Salary Guide
Canadian oil and gas professionals are enjoying a boom in wages reflecting a confident and growing sector, according to a new salary survey.The Salary Guide, produced by Hays Oil and Gas in partnership with specialist jobsite Oil and Gas Job Search, comfortably places home based Canadians in the top five of highest paid professionals out of the 50 plus countries surveyed.
Canadian oil and gas professionals can expect to receive Can $126,140, up from Can $109,530 in 2010’s Salary Guide – a rise of approximately 15%.
Daily contract rates for locally based Canadian professionals remain very competitive globally at a rate of Can $940; imported labour also enjoy high rates of $885.
Additionally, a recent Petroleum Services Associations of Canada report shows increased drilling activity, with over 5,000 horizontal wells marked for exploration this year. There is every reason to believe that Canadian based professionals wages will be notably higher over the next 12 months.
Matt Underhill Managing Director of Hays Oil and Gas comments: “A combination of increasing global demand, strengthening oil prices and improving refining profits have all had a hand in the impressive salaries offered by Canadian oil and gas companies to keep and attract talented industry professionals.”
The Guide, compiled from the responses of almost 11,000 industry professionals, shows positive worldwide growth and sentiment towards salaries in the sector.
Overall, the guide shows positive growth and sentiment towards salaries in the sector. Over the next 12 months, nearly 47 per cent of respondents believe that salaries will increase by 5 per cent or more.
Duncan Freer Managing Director of Oil and Gas Job Search comments: “The general trend in wage growth reflects a worldwide industry that has recaptured its vigour and confidence after a depressed couple of years.”
“Canadian professionals enjoy very competitive wages, which reflects a confident oil and gas industry. There is every reason to believe that will remain the case well beyond this year.”