Mouse Over to Stop Rotation & Read Ad

Thursday, July 19, 2018

Big Oil Equals Big Paychecks, New Data Reveals

From Bloomberg:
Move over Wall Street titans and Silicon Valley giants. When it comes to paychecks, Big Oil now looks like the best bet for U.S. workers.

Spurred partly by the shale boom, the median pay for energy workers last year was $123,000, according to data newly mandated by the U.S. That topped all sectors, including utilities, tech and health care. While energy chief executives made an eye-popping 120 times more, the gap with their employees was still the second-smallest among all industries.

What’s fueling this paycheck potency? First, a reliance on geologists, petroleum engineers and other highly skilled, well compensated professionals. Add to that the efforts needed to retain expertise -- and lure young talent -- after the recent oil price rout led to hundreds of thousands of job losses.

“They had to retain critical employees at almost any cost,” said Bill Arnold, a former Royal Dutch Shell Plc executive who now teaches energy management at Houston’s Rice University. “Companies had little managerial flexibility.”
Click here to continue reading.

Connect with us on Facebook and Twitter!

No comments :

Post a Comment

Follow by Email