Energy professionals in the UK are better paid compared to workers in other industries, according to a Salary and Benefits survey by Hays Energy conducted in partnership with the Energy Institute (EI). The survey has revealed that the average salary in the sector is significantly higher than the UK national average of £26,244*, with 74% of those surveyed earning in excess of £41,000. Added to this, over two thirds (69%) received a salary increase over the last twelve months and half received a bonus in the same time period.
The Salary and Benefits survey is based on over 900 responses and presents the average salaries of energy professionals working across more than 12 discipline areas. The results prove that energy professionals have remained a valuable asset despite the global financial crisis. Demand for energy professionals across the UK is currently increasing and in London there is high demand for oil and gas professionals, for both upstream and downstream roles.
Annual leave entitlement tops the list of benefits that workers currently receive, followed by pensions and health related insurance. However, when looking for a new position, a challenging and interesting role beats pensions in the desirable benefits stakes. Over three quarters (80%) of respondents receive training support and over a third hold a postgraduate qualification (41%), which is an indicator of employers’ commitment to career development.
Eliot Davies, Director, Hays Energy, comments, “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.”
Sarah Beacock FEI, Professional Affairs Director, Energy Institute, adds, “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 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.”
UK Key findings:
• 74% of those surveyed earn in excess of £41,000 per annum
• 69% of people have had a salary increase in the last 12 months
• 50% of individuals have received a bonus in the last 12 months
• 41% of people are qualified to Masters degree level or above
• A new challenge, higher salary and career development were the most important factors in looking for a new role
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* UK average salaries supplied by Annual Survey of Earnings.
About the research:
The finding from the Hays Energy salary and benefits guide were based on over 900 responses from energy professionals in the UK between November 2011 and January 2012.
About Hays: Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments.
As at 30 June 2011, the Group employed 7,620 staff operating from 255 offices in 32 countries across 20 specialisms. For the year ended 30 June 2011:
• the Group reported net fees of £672 million and operating profit** of £114 million;
• the Group placed around 60,000 candidates into permanent jobs and around 190,000 people into temporary assignments;
• 31% of Group net fees were generated in Asia Pacific, 33% in Continental Europe & RoW (CERoW) and 36% in the United Kingdom & Ireland;
• the temporary placement business represented 54% of net fees and the permanent placement business represented 46% of net fees;
• Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the United Kingdom and the USA.
For further information visit www.hays.co.uk
About the Energy Institute: The Energy Institute (EI) is the leading chartered professional membership body for the global energy sector, responsible for the development and dissemination of knowledge, skills and good practice, working towards a safe, secure and sustainable energy system. Supporting all those working in and studying energy, and with almost 15,000 individuals and 250 companies in membership, it offers learning and networking opportunities to support career development. Delivering professionalism and good practice, the EI addresses the depth and breadth of energy in all its forms and applications, providing a scientific and technical bank of knowledge for industry. For more information, please visit www.energyinst.org