June 2013: Special Edition, Hiring Survey
In our first Rigzone Hiring Survey, nearly half (48%) of U.S.-focused energy hiring managers and recruiters report they plan to increase hiring in the second half of the year. What’s driving this hiring momentum? The current economic or market environment in the United States, according to survey respondents.
Engineering positions dominate the list of new positions hiring managers are planning to recruit during the second half of 2013, with Mechanical Engineers topping the list of most wanted. The desire to hire MEs is matched by a tight supply: The current unemployment rate for Mechanical Engineers is 3.4 percent, according to the Bureau of Labor Statistics.
A low unemployment rate usually means one thing – higher wages. North American-based Mechanical Engineers working in the oil and gas industry earned on average $102,095 in the last year, up three percent year/year, according to the Rigzone Compensation Tracker. Not only are wages rising for MEs, but within the energy industry, they are being paid a premium. According to the government figures, Mechanical Engineers, working in all industries earn closer to $85,000 per year.
Energy professionals, generally speaking, who are interested in new positions are upping their demands, according to survey respondents. More than half (54%) of hiring managers and recruiters said candidates are asking for more money than they were just six months ago.
Companies are balancing the need to attract and retain talent. On the question of counteroffers, hiring managers were nearly split, with 39 percent saying – yes – they are seeing or making more counteroffers than six months ago and 40 percent saying that is not the case.
The results are encouraging for oil and gas professionals who’ve seen new jobs created this year, but at a slower pace than we’ve enjoyed in the past few years. And for engineers, it’s your market for the taking – solving the energy challenge and earning more, not a bad combination.
About the survey
From May 21 to May 24, 2013 Rigzone surveyed hiring managers and recruiters who primarily recruit for U.S. energy professionals. Covering upstream, midstream, downstream, corporate and college recruiting, 183 responded to the survey, with 30 percent representing companies that have more than 5,000 employees.