Will you go back to oil and gas?

[SKR]

I came back, just because it's what I know.

I also think the money will come back, and it might be sooner than later. On the other hand, now that oil is climbing, everybody is firing up rigs so it won't take long for us to wreck it again.

[nickyh]

I'm hoping for some greener grass to appear in 2017. I'm feeling pretty jaded these days and see 2017 as a year of many adjustments.
Never left O&G

[adamc]

I left and moved to the other side of the country. Making less than half the money I did in O&G.
Would very seriously consider flying back and forth, if the opportunity came back. Probably work very hard for a few years and invest in other businesses outside of oil.

Lifestyle is much better now, but what good is lifestyle when you can't ball out of control?

[max_boost]

Originally posted by cjblair
The money will absolutely come back, assuming oil price does. If oil price comes back, investment increases, demand for skilled workers increases. As demand increases, wages will as well.

This will be exaggerated because of all the people that have left the industry / province. I know a few people in the engineering side of the resource industry that say they're going to be royally screwed if they win work, Becuase they will have a hard time staffing jobs.

Will everyone keep balling outta control or will they save it this time

[ExtraSlow]

Savings are for suckers, HELOC ALL THE THINGS!!!

[Sugarphreak]

...

[schurchill39]

O&G is all I know. I find it fascinating although the cyclical nature is very stressful. My wife is an environmental engineer and although some of her projects are interesting I don't see myself doing something like that all the time as anything her line of work does seems to take forever and has to have a million people look at it.

I don't think the big money is coming back any time soon (decade). O&G will probably always be slightly higher paying but I don't think we will see times where young dummies like me will once again have more money than brains.

As of right now I am happy to be employed and able to pay my bills. There have been some slight adjustments in my life but far less than most of my peers so I am thankful for that.

[Buster]

In ten years, when there is another boom time of some kind, there will be a generation of new bucks who will be saying "what crash, oil will never go below XXXX again" or "I make so much money at 26 because I am a genius and deserve it, nothing to do with a commodity boom. where's my C63?"

and all of you will be the grizzled old vets saying: ""imma save my money"

[Swank]

^That's the Alberta way

[Feruk]

Originally posted by spikerS
do you think that with the O&G sector pushing back salaries 30 and 40% that that same money will be made available again?

30% to 40% on existing employees or even new hires? I don't think so... Maybe a small percentage of specific field-related jobs, but on average across the industry, no way. I'm in O&G in the office and hardly know anyone who has taken a pay cut. Even new hires are coming in at similar salaries.

[msommers]

Originally posted by Buster
In ten years, when there is another boom time of some kind, there will be a generation of new bucks who will be saying "what crash, oil will never go below XXXX again" or "I make so much money at 26 because I am a genius and deserve it, nothing to do with a commodity boom. where's my C63?"

and all of you will be the grizzled old vets saying: ""imma save my money"

I had a good laugh at this! Too true.

[RealJimmyJames]

Pay cuts in the office have been nowhere near 30-40%. Probably average is around 5%, since a huge number of people didn't' take any cut.

Field consultants have dropped 50% in many cases, If you wanted a blended average, I have no idea how you'd figure that out.

[flipstah]

Originally posted by Buster
In ten years, when there is another boom time of some kind, there will be a generation of new bucks who will be saying "what crash, oil will never go below XXXX again" or "I make so much money at 26 because I am a genius and deserve it, nothing to do with a commodity boom. where's my C63?"

and all of you will be the grizzled old vets saying: ""imma save my money"

10 years from now, we'll have jet packs!

[Xtrema]

Originally posted by RealJimmyJames
Pay cuts in the office have been nowhere near 30-40%. Probably average is around 5%, since a huge number of people didn't' take any cut.

Field consultants have dropped 50% in many cases, If you wanted a blended average, I have no idea how you'd figure that out.

No way any employer will try to cut wages by 30-40% and keep you around (they may reduce or remove bonus).

They will probably increase your work load by reducing head count. Until you can't take it no more, then they may hire someone back at 30-40% less or contractor at 50% off for temp workload relief.

[brucebanner]

Haven't left, trades worker. Would love to make the jump to the client side instead of contractor. So I've been trying to work on making myself look like a better candidate than others but chances are probably as good as winning the lottery. I'd prefer the lottery but happily take a position on the client side of things.

[mrsingh]

I have stayed employed, would I switch industries? I am open to it if I had to, but I like what I do and enjoy the company I work for.

Originally posted by Xtrema


No way any employer will try to cut wages by 30-40% and keep you around (they may reduce or remove bonus).

They will probably increase your work load by reducing head count. Until you can't take it no more, then they may hire someone back at 30-40% less or contractor at 50% off for temp workload relief.

This, my salary hasn't changed at all. That said, I have been on a pay freeze for a couple years and with smaller teams my work load has increased significantly. The big difference has been in regards to share awards and payouts which dropped off dramatically. As for bonus - last year's was still good, this year will be telling!

[nickyh]

Originally posted by Xtrema


No way any employer will try to cut wages by 30-40% and keep you around (they may reduce or remove bonus).

They will probably increase your work load by reducing head count. Until you can't take it no more, then they may hire someone back at 30-40% less or contractor at 50% off for temp workload relief.

My friends husband took a 25% pay cut on the first round and then another 10% on another cut.
Her dad took a 50% pay cut...

So they must have been very overpaid.

[mr2mike]

Originally posted by Feruk

I'm in O&G in the office and hardly know anyone who has taken a pay cut. Even new hires are coming in at similar salaries.

You must be on the custodial side of the o&g sector.

[max_boost]

Originally posted by Buster
In ten years, when there is another boom time of some kind, there will be a generation of new bucks who will be saying "what crash, oil will never go below XXXX again" or "I make so much money at 26 because I am a genius and deserve it, nothing to do with a commodity boom. where's my C63?"

and all of you will be the grizzled old vets saying: ""imma save my money"

[HomespunLobster]

Still in Oil and Gas. Our company is in a tough area, do we hire another field tech so we're not running the guys we have into the ground (in case it gets busy), or try and make it through this winter on a lower budget (And run everyone as hard as they can.) Spring break up is already coming pretty fast