LONDON – The seventh annual Global Energy Talent Index, recently released, has revealed that the recent gas price crisis has transformed oil and gas into the most popular sector for energy workers looking to change roles, and has sent salaries soaring above pre-pandemic levels.
The report by Airswift finds that, with oil and gas majors posting record profits, 44% of oil and gas workers saw their pay increase last year and two-thirds expect further salary rises next year. Optimistically, 41% said they expect pay increases of over five per cent next year.
Airswift says that it interviewed sector experts and surveyed 10,000 energy professionals and hiring managers of 149 nationalities across five industry sub-sectors: oil and gas, renewables, power, nuclear and petrochemicals.
The report found that sector-wide salaries are being inflated by fierce competition for oil and gas talent, with almost one-in-three oil and gas workers having been headhunted over six times in the past year.
These compensation increases are driving high job satisfaction, with remuneration cited as the biggest driver of said satisfaction and 69% of oil and gas workers declaring themselves satisfied in their current positions.
Further key findings within oil and gas include:
- The revival of oil and gas projects from France to the UK makes Europe the leading destination for oil and gas workers seeking overseas transfers (27%).
- The proportion of workers wanting to relocate has fallen from 91% in 2020 to 81% today.
- Of those companies that have begun transitioning to clean energy, 38% welcome the change this has made to their roles.
The report also notes that rising salaries and job opportunities are also empowering oil and gas workers to seek jobs based on values as well as salaries, with ESG concerns now among their top three reasons for choosing employers.