Salaries in industry lowest since 2015

SourceTrade Arabia
SectorOil & Gas

By Abdulaziz Khattak Professionals in the oil and gas industry around the world had a mean base pay of $127,053 in 2020, the lowest since 2015, reported a global survey. With many being furloughed, laid off, or facing salary reductions, this year’s reported earnings of workers was lower than in recent years. According to the annual SPE Membership Salary Survey conducted by the Society of Petroleum Engineers’ (SPE), other compensation (including bonuses) decreased in 2020 ($36,670) for the first time in the past five years, writes Abdulaziz Khattak of OGN. The base pay in Latin America and the Caribbean remained about the same, but other compensation rose slightly, bringing the overall compensation up compared to last year. Members in all other regions reported earnings lower than in 2019. Reservoir engineers reported earning the highest more...