In a survey of 900 energy professionals in the UK conducted by Hays Energy and the Energy Institute, 74 per cent said that they earn in excess of £41,000 per annum.
The survey, carried out between November 2011 and January 2012, revealed that the average pay of professionals in the sector working across more than 12 discipline areas is significantly higher than the UK national average of £26,244. During the past 12 months, 69 per cent had received a salary hike, while 50 per cent had received a bonus. The finding reflects the high demand for oil and gas professionals in London.
Sarah Beacock, director of international and professional affairs at Energy Institute, said: “This survey clearly shows that well-qualified and experienced energy professionals are sought after and therefore highly valued. There is no doubt that there is a shortage of talent in some specialisms of the energy industry.”
The survey also found that 41 per cent of energy professionals are qualified to master’s degree level or above, while 80 per cent of respondents had received training support.
Beacock added: “The challenge is around conveying the value and satisfaction of a career in energy to a younger generation and encourage the further take-up of science, technical, engineering and mathematics skills to ensure we have the human resources to lead the industry in the future.”
Apart from annual leave entitlement and certain other benefits, a new challenge, higher salary and career development were the most important factors for energy professionals when looking for a new role.
Eliot Davies, director of Hays Energy, said: “Employers want to attract, retain and reward highly skilled and experienced individuals, which is demonstrated by the salary and benefits packages on offer. Job satisfaction remains high among the workforce, which reinforces our findings that careers in the sector are rewarding, both in financial and development terms. The opportunity to work globally is also a major factor, attracting jobseekers to the industry.”
Despite the global financial crisis energy professionals have remained a valuable asset, the survey concluded.