The oil price slump has taken a massive toll on the oil and gas jobs market.
Layoffs reached 150,000 by the end of May, with the world’s four largest oilfield service providers— Schlumberger, Halliburton, Baker Hughes and Weatherford, axing more than 50,000 jobs alone.
Companies across the board all took a blow one way or another, from large and small oil producers, to oilfield service providers, EPC contractors and manufacturers alike.
To find out how wages are faring in such volatile times, Oil and Gas Middle East’s launched its first ever salary survey for the upstream oil and gas sector in the Middle East.
We also asked industry experts and consultants to comment on the findings and share their own insight on the subject.
Click on the links to find out what they had to say…
The main results from the survey
(It’s not) all about the money
How about End of Service Benefits?
The survey sought to determine if employees think their work is well-rewarded and how happy they are at the workplace.
It also asked about people’s expectations for the future and if they thought their chances for promotion were affected by the oil price.
The survey attracted hundreds of replies, and revealed some very interesting results.
While the overall majority of respondents said they were satisfied with their pay, a high percentage of people were unclear about career progression and promotion structure at their workplace, leading to doubts about their future
Less than half of those who took the survey had a pay raise in the previous 12 months and more than two thirds said they expected one. Meanwhile, most participants agreed that companies should invest more in their training and development programmes.
Results from the survey highlighted some of the industry’s key issues, such as aging workforce, lack of female representation in the industry and the impact of localisation on companies’ expat-dominated work.
