2021 Energy Pay Pulse Survey Results
We recently closed our annual Energy Pay Pulse Survey and are releasing the full report to participants this month. Exclusive to NFPCCmp;A, the survey concisely and powerfully assesses market trends for companies in the energy sector. The survey is designed for organizations whose operations are primarily involved with the oil and gas industry.
The survey captures current compensation trends as they relate to salary increases, employee hiring/turnover, bonus payouts, incentive grant awards, and retention practices. In addition, this year the survey included direct questions related to OPEC and COVID impacts to better understand the historical and future effects on compensation decisions.
This year’s survey generated notable results:
- On average, total payroll makes up approximately 55% of an organization’s total G&A expense.
- About one-third of organizations instituted a temporary salary reduction to their employee(s).
- Very few organizations have taken preemptive action in regards to bonuses to be paid for 2020 performance as a direct response to COVID-19.
- Return-based metrics are seeing an increase in prevalence for 2021.
Although the survey has closed, interested parties may contact Josh Whittaker to participate in next year’s survey. Additionally, our Midstream and Upstream compensation surveys will open on April 1st.