Finance for upstream oil salary after a few years..?

[woodywoodford]

Just wondering what positions like corporate analyst, business analyst, treasury analyst have for salary expectations after say 5 years for upstream oil companies? I know its pretty hard to say since it'll vary so much by company. I've got an offer for a job at a services company with a pretty substantial raise over my current salary, but I really like my current position/coworkers so need to decide if its worth sticking it out here or should I jump ship (everybody's got a price...)

I guess a similar question would be what kind of annual raises would you say is normal? 5%? 10%?

[Super_Geo]

It's a pretty quick run to the $100-120k base range at the producers... then it takes a lot longer to hit $150-180k. Top performers will always be well comped through stock and options, less so straight cash.

[sabad66]

Depends how good you are I would say. For 5 years, maybe 100k average base + 15%ish bonus? Maybe 120 base if you're really good. Annual raises, probably 5-10% depending on how well the company/you did.

[flipstah]

Originally posted by Super_Geo
It's a pretty quick run to the $100-120k base range at the producers... then it takes a lot longer to hit $150-180k. Top performers will always be well comped through stock and options, less so straight cash.



Originally posted by sabad66
Depends how good you are I would say. For 5 years, maybe 100k average base + 15%ish bonus? Maybe 120 base if you're really good. Annual raises, probably 5-10% depending on how well the company/you did.

When you mention 'base', do you include stocks and other incentives or pure cash?

If it's the former, most definitely; latter... Damn.

[KappaSigma]

Originally posted by flipstah





When you mention 'base', do you include stocks and other incentives or pure cash?

If it's the former, most definitely; latter... Damn.

Pure cash. Helps having some sort of desgination. Im a CA, somewhat newly minted (2 years post desgination) and 1.5 years for an Upstream producer as a FA and make $105K before bonus, options, etc.

[Boat]

This is probably a given, but make sure you look at time off, benefits (health, wellness, flex days, EDO's. spending accounts, etc). Don't forget corporate savings plans as well.

Honestly, a substantial pay raise would be pretty sweet especially if you are young but make sure you weigh everything and determine if the raise is really that "substantial".

All of the numbers mentioned above seem accurate.. 5-10% pay raises, and salary levels.

[Canmorite]

I work in Treasury/Finance in O&G and the entry level is around ~$65K, 5 years in probably $80-$100K before all the extra 'perks' on the Treasury side (Just base salary). On the corporate finance side I'd say 20-30% more just because of the hours and 'on-call' feel to the job.

Definitely depends on work ethic though, and any other designations. So many variables to include.

Annual raises also depends on company performance, I think many are in-line with inflation, plus any discretionary adjustments by Managers/VPs etc.

[flipstah]

Originally posted by KappaSigma


Pure cash. Helps having some sort of desgination. Im a CA, somewhat newly minted (2 years post desgination) and 1.5 years for an Upstream producer as a FA and make $105K before bonus, options, etc.

Oh of course, a designation will be able to pull that much cash.

But in 5 years? Damn, that's quick. :bigpimp:

[silvercivicsir]

I think you guys maybe out to lunch.. it's more like a 2% to 3% cost of living adjustment. The days of 10% to 15% yearly increases are gone.. Only way you are going to get big money is either Acct designation, or Jumping ship.. staying at one producer will limit your yearly salary adjustments..

[KappaSigma]

Originally posted by silvercivicsir
I think you guys maybe out to lunch.. it's more like a 2% to 3% cost of living adjustment. The days of 10% to 15% yearly increases are gone.. Only way you are going to get big money is either Acct designation, or Jumping ship.. staying at one producer will limit your yearly salary adjustments..

All depends on performance and level. Last year I received around a 10% increase in salary. Should be interesting to see what this year is based on performance.

[prodigydud]

Originally posted by silvercivicsir
I think you guys maybe out to lunch.. it's more like a 2% to 3% cost of living adjustment. The days of 10% to 15% yearly increases are gone.. Only way you are going to get big money is either Acct designation, or Jumping ship.. staying at one producer will limit your yearly salary adjustments..

Agreed.

Work for a midstreamer and 3% is relatively standard. 10-15% raises are usually reserved for star performers.

[sabad66]

I don't think anyone mentioned 10-15% being the norm.

5% avg, 10% if you're a superstar. Obviously your mileage will vary based on company and how well they did.

[SkiBum5.0]

Someone mentioned this but you should definitely investigate the Group RRSP packages for each job. Many companies match for even offer 150% RRSP contributions (FREE MONEY!).

[mr2mike]

Bonuses were low for most this year in large companies.

0% raise this year for a lot of people.
3% raises for some
5% if you're a star
Nothing above that from where I sit.