Posted on 04/24/2019 12:08:06 PM PDT by reaganaut1
It was a fruitful year for the rank and file at oil-and-gas companies, from Exxon Mobil Corp. XOM to Phillips 66.
Oil and gas drillers and refiners had some of the highest-paid median workers in the energy and utility sectors in 2018, according to The Wall Street Journal analysis of annual pay disclosures by hundreds of big U.S. companies.
Houston-based Phillips 66 paid its median worker $196,407, the highest of any company in the sector. Phillips was followed by Anadarko Petroleum Corp. at $183,445. Oil giant Exxon Mobil, which has roughly 72,600 employees, according to its latest proxy, had the third-highest median worker pay with $171,375.
Phillips 66 and Anadarko both boosted their 2018 median pay by about 15% in 2018 compared with 2017. Exxon raised its median pay about 6%. Oil-and-gas companies typically pay their workers better than many other sectors because they have fewer low-paid retail jobs and must compete in a tight labor market driven in part by the shale-oil boom.
Phillips 66 and Exxon declined to comment beyond their proxy statements. Anadarko Petroleum didn’t respond to requests for comment.
Utility companies, such as Xcel Energy Inc. and American Electric Power Co. , were closer to the energy and utility sector’s median of about $117,000, the highest median of any sector in the S&P 500. An American Electric Power spokeswoman said its compensation plan takes into account employee performance and that the company compares its pay levels to its peers. Xcel Energy didn’t respond to requests for comment.
(Excerpt) Read more at wsj.com ...
No doubt a lot of the differential in median income is the long hours of overtime these jobs entail. Typically they are not 9 to 5.
Another reason not to hobble the energy sector.
But, but they do not employ enough trans, females and black Anglo-Saxons!!!
We worked 16 hours a day 6 days a week in 79 when I was on a rig.
I wonder how many of those oil workers are democrat voters.
All good and fine until you tell the Millennials that you want to hire that they might get their hands dirty once or twice a week.
Probably best to stick with immigrants for those types of ‘dirty’ jobs. The Millennials will contribute MUCH MORE to the country in the ‘cultural arts’.
Pretty incredible to see such increases on the heels of such a huge downturn in commodity prices.
https://www.spe.org/industry/docs/2018-Salary-Survey-Highlight-Report.pdf
Known several of them over the years that made good money when they were working. Only a couple managed the trick of holding on to it, so as to make it through the dry spells.
It ain’t what you make, it’s what you keep that counts.
Back in 91, my neighbor worked 4 10 hr days at the refinery. Base salary was around $76,000. He easily made $100K with moderate overtime. It was a much better job than the oil field for close to equivalent money. I actually turned down a permanent placement when I was a temp at Lyondell petrochemical. Would have been great pay, but I wanted my degree. Lab I was working in blew up in massive explosion years later. Big news at the time and I felt lucky I didn’t take the job.
Been there done that and if you don’t get Divorced you can Retire, now the EX, she is working on Retirement income #3.
Ain’t Life Grand?
Supply meet Demand.
Most operators have a two year degree from a community college.
We worked 16 hours a day 6 days a week in 79 when I was on a rig.
Great job but you got to have a strong back and a weak mind. They could be set for live by age 40 but something tells me they blow it.
Labor supply and demand. It’s a market, just like any other, but instead of a single market labor is many different markets depending on the skill set and our profession and as modified by location and other factors.
These high salaries are not an example of “income inequality”.
They are a refence point in the consumer demand for the end products produced and the supply of labor to achieve the production requirements of that consumer demand.
And by consumer I mean the global consumer as all fossil fuels are explored, developed and produced for global markets. That means the demand is not dependent on a single national market, not even the home market where the production takes place.
Son worked 7 days a week/ 12hr days for 30 days on, then 30 days off. That was 3years ago- he is now in different field as he got married.
Can you imagine being 18 and making that kind of money. Even if the entry level is half that. Wow. You can really set yourself up for life working a decade or two. Or until the next democrat destroys it again.
Considering the fact that you could be blown to smithereens any second just doing your job, that seems fair.
My work = 6-months straight, 12-13 hours a day, no days off, $1000+ a day... Wears on ya’, both physically and especially mentally..
Stories from the Dakota’s and Alberta was that these guys would work hard -— roll into town and blow money on drinks and strippers....
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