Petroleum industry professionals reported an average total compensation of USD 214,328 in 2014, compared with 203,557 in 2013 and 223,472 in 2012. Respondents reported an average increase of 6.4% globally in base pay over the past year. Eight out of 10 respondents (82.8%) indicated that their base pay increased over 2013.
Average base pay reported in 2014 (USD 156,439) was higher than that in 2013 (USD 153,620), but less than that reported in 2012 (USD 166,753). But bonus and other compensation in 2014 (USD 57,889) was lower than in in 2013 (USD 64,000). The number of professionals receiving a car allowance has declined. This year, slightly more than a quarter of respondents (28.4%) receive a car allowance, which is down from 31% in 2013.
The average age of energy and petroleum professionals reported in the survey was 43 years, which is consistent with the previous 3 years.
The level of experience professionals have in the industry remains consistent with previous years, with the average being 17.8. However, this varies by gender, with male professionals having significantly more experience than females. More than four in 10 (43.2%) reported an education level higher than a bachelor’s degree, which is consistent with previous years. More than three out of four (76.2%) industry professionals indicated that they are a citizen of the country in which they work.
Job Categories and Total Compensation
Total compensation among the top tier of professionals showed a decline from 2013, but is higher than in 2012. Lower-category professionals showed gains in compensation since 2012.
How to Learn More
This report represents a sample of current compensation in the industry. A presentation of every possible combination of the many jobs, geographies, and employer types and an analysis of the data dispersion in all the compensation elements included are not possible in this summary; however, detailed reports will become available in late November 2014.
SPE will make detailed summary reports available for download in .pdf file format containing charts and descriptive statistics of trends through the SPE Bookstore. Data tables, containing the raw data from the survey responses for those who prefer to do additional analysis, will be made available for download through the bookstore as well.
In addition to annual reports, SPE publishes a historical summary of SPE Salary Survey highlights dating back to the first survey in 1967, which will also be updated in late November 2014.
Pay Increases for Both Genders
Professionals of both genders experienced a positive change in their salary since 2013. Female professionals were more likely to experience positive salary growth than their male counterparts. With 84.7% reporting positive salary growth in 2014, an additional 6% of female professionals experienced an increase this year compared with 78.0% in 2013.
Experience Level and Compensation
Base salary and compensation varies by both work experience and gender, with male professionals earning more than their female counterparts.
