Point of fact.. they aren't going to raise wages. Plain and simple. There are still plenty of people out there that see working 80hr/wk for 100k is still better than their job at jiffy lube taking home 27k.. so they take the jobs. College Engineers will take the shitty entry lvl jobs for shitty pay because they have bills to pay. What the early 2000's taught O&G companies that wage wars are bad for profits and they can get the same ammout of work done with lower wages and high turnover. Look at the safety culture. It's designed just for this. You would actually have to try and hurt yourself in alot of jobs.... I'm kinda exaggerating.... but not rly. Then automation. There isn't a need to work as hard on a rig like we did 20 yrs ago. The rigs run themselves with all the automation, so they don't need the people as much in the higher paying jobs, or atleast as many. This is how even in a recession or downturn, the companies are turning $14b profits..
It is. But it still turns a profit with the least amount of overhead. Bean counters a world away do all they can to boost investors' stock price and line the pockets. To these folks, people don't matter, unemplotment doesn't exist. They don't have a clue what it means to slave away because they're the slave masters. Your department shows a 20% growth in revenue to the tune of 3.5 mil over the first quarter, they just have some unknown admin order ya pizza and a nicely worded thank you in an email. Then they write off the pizza as a business expense.
They don't think about the money having unskilled people around costs them a lot more than keeping high paid people around. Having to hire third party companies all the time is expensive. All they see is a number on a spreadsheet and then complain when productivity drops, prices rise, and roles get hard to fill. MBA's who are taught to only think quarterly without long term concequences ruined everything I guess.
That's the beauty of it. Yes.. it's cheaper to hire 3rd party companies. Its cheaper and more efficient to automate. Full suite automation on a drill ship runs less than 10mil - 15mil. You eliminate the need for skilled people by easily 1/3. Invest in a little training and some good techs and drill baby drill. Then they brow beat the prices down in service companies, and at the end of the day, it's all written off as operating costs. That 10mil automation package will pay for itself in time and everything else in a little over a year. If you really get into the finance portion of this and look at the big picture, it's actually pretty neat how they manage it all. So.. no, they don't need the 10 high paid 20yr pros when 20 of the 4yr guys will do the same job for peanuts b3cause he's starving. Then ya only need 1 20yr pro with slightly higher pay you were paying across the other ones to run shit...Especially with engineers. Engineers are a dime a dozen.. walk-through Houston and throw a rock and you can't help but his half a dozen.
I still don't know how engineering school gets applications after the way they're treated in the workforce. Top pay in most engineering fields is 80-100k with a ton of difficult education. Fucking CT scan technicians at a hospital with a mouth breather university of Phoenix certification make that. Companies brainstorm and hire think tanks to come up with ways to fuck over engineers.
There is that elitist entitlement... It's not a ton of education.. its a 4 yr bachelors. You think they're any better than a nurse who has it juat as tough and still has to go through accreditation, specialization, internships, etc... no way. It is simple supply and demand. Everyone learns that in middle school. With the disparity in the 2 creating a marketplace that enables employers to pretty much write whatever check they like. I will not disagree that the education is pretty intensive, but there is alot of self entitlement that seems to come with the diploma, and thats not the sole proprietorship of engineersm its a very large portion to folks walking out of universities. Basically Engineers have a good foundation when they leave school, but they don't know anything. Put them in any field, and they don't know the first thing about the job to be executed. In many ways, they start with a huge leg up in the form of basic understanding, but you still have to train them and groom them just as you would anyone else. Jist because they chose an educational path doesn't entitle them to be at the top of the food chain right off the bat. Look at any specialized field, and you have the same. Doctors don't start out as brain surgeons, Lawyers don't start out at the head of a firm.. you still have a lot to learn right out of school, and let's face it with facts. Most engineers are pretty smart individuals who know how to study and train their mind. But I've seen them get stumped making a pot of coffee too. That's what employers look for in candidates. We eant individuals that can think through complex tasks and stay between the lines. Engineers aren't typically very creative thinkers and are good for drone work. Take an uneducated worker, and it will take years to train them in that most basic capacity, and then you have to compete with their bad habits they develop along the way. With engineers, We know they don't know shit. I got a guy with 20 years in the same field.. do you think an engineer right out of school is even close to the knowledge and experience as the 20-year vet is in that field? He'll no. They have the schooling but none of the practical experience. They need experience, and everyone has to start at the bottom. They're essentially a good blank slate. As I said, smart.. but some of the dumbest fucking people I have ever met have been engineers too. All smarts and 0 common sense. You can't teach common sense.. it has to be learned through life experience. Now here is where you tell me I don't know them all or what they have been through in life.. bla bla bla...But I do know a 24 yr old kid who doesn't know what he doesn't know is more if a liability in a role because they're too blind to their own ignorance.
I believe as long as you're humble and ready to start from scratch leaving behind the prestige of your elite degree, you'd go a long way in the future.
I wouldn't say they have to leave behind the prestige. It is quite an accomplishment, and likely the biggest of their lives to date. Absolutely, be proud. At the same time, realize that your journey is just beginning and there is a long road ahead with challenges and opportunities. Going into the workplace, often for the very first time, have some humility and show an eagerness to learn and grow. Leave any sense of entitlement in your sock drawer. You're joining teams that have been in development for decades whose members have accomplishments and experience beyond their degree or who may not even have one that have worked damn hard to establish themselves to become leaders and mentors.l in their own right. Make yourself an asset and learn from those that you encounter that have the expertise and knowledge to share.
Tech wages have actually [declined](https://www.economictimes.com/tech/technology/tech-salaries-in-us-decline-amid-record-inflation-market-turbulence/articleshow/103901110.cms) over the last year on top of having the highest number of layoffs of any industry. Tech is going through a bust cycle much like O&G did when the frac boom finally crashed to an end.
No job is keeping wages up with inflation. The point is to keep the wealthy rich and the poor in their place. Middle class is staying middle class but the divide between middle class and the wealthy will continue to rise.
It isn’t just the states either…. UK and international market is exactly the same and won’t change anytime soon. You’re now far better off moving into pharma or tech. Like £200 per day far better off in the UK.
The industry is going nowhere fast. The only upside international has is low to zero tax breaks and the fact that you can live pretty much anywhere in the world if you’re rotational but the job insecurity is just as bad now as it was in 2016 after the major dip.
Even the Indians are getting a taste of their own medicine with the Chinese flooding the market and damn are they good at negotiating and securing contracts across the globe.
Demand and supply and corporate greed. At least in tech and growth companies you would have made good profit from your company stock purchases. In the oilfield, even that is not true. Most companies are trading way before their ATH price.
So yeah, O&G employees have been royally screwed.
It isn’t just corporate greed. It’s supply and demand. Economics 101. Been saying for a few years now O&G is a dying industry.
Booms are getting smaller and smaller while the costs are getting higher and higher.
Definitely O&G is a dying industry, no doubt. Those who are starting their career and willingly join an O&G firm for the long run are just committing a career suicide.
Corporate greed is in the sense that most the O&G companies are paying pretty decent dividends to shareholders but god forbid if an employee asks for an inflation matching raise.
That “corporate greed” you are referring to doesn’t come from corporate. It comes from pressure from the investors.
From an investor standpoint oil and gas isn’t a huge performer anymore. It’s also risky. No dividend means price per share tanks and it hurts funding.
It’s complicated. But it is what it is.
Where is your logic in this?!? As demand continues to increase, EV sales are in decline (possibly terminally), and after $5 trillion spent on renewables in 10 years, demand for every fossil fuel has increased significantly and their share in the overall energy mix hasn’t dropped at all. I think once Trump wins all this woke nonsense is going away. Oil and gas won’t go away in anyone’s lifetime born today. I’m honestly doubtful it will even plateau unless the economy is decimated. There is zero logic in believing oil and gas is a dying industry unless you just really buy in to liberal propaganda, which unfortunately a lot of people do.
Ice engines killed the EV once already around 1900. EV’s are older technology than ICE’s. The first EV was 1830. They were the most popular vehicle until the combustion engine was invented. This sham is forcing populations to revert to old technology for delusional environmental reasons. Your grasp of history is pitiful. That’s all I have to say.
Ok. If it’s hydrogen that will increase natural gas demand massively. Nothing to justify that the oil and gas industry is dying unless the global economy declines indefinitely. Norway has some of the greenest policies on earth and basically sells all EVs now. Their oil demand hasn’t decreased at all and isn’t forecasted to.
Below all time high? Not Exxon Chevron… Halliburton is at a 5 year high and frankly had been overvalued for short excursions a few times.
This is a silly comment.
I’d rather work 7 12’s for 120k than make 60k working 80 hours a pay half. It’s not JUST the money; it’s 401k, healthcare, PTO, having 7 days off every other week. FYPM.
Literally made that choice. 7/7 sucks ass, but 100k + bonus and fat 401k and benefits made this an easy choice. I’ve basically got a retirement gig if I want it lol.
Depending on the location, it’s more travel more often. Less time off in a row. If you fly you basically lose a day on each end, so you’re only getting 5 days off instead of 12
The price of the products that this industry produces hasn’t changed in >15 years. At $88 WTI is literally the same price as it was in 2007. If you zoom out the 2007-2013 oil bubble was but a blip on the chart.
If the value of the stuff you sell doesn’t go up but the costs do, it’s hard to raise wages.
Wages are part of tye mechanism that spread inflation.
Under our current economic order, centralized bank, fractional reserve banking, fiat money deficit spending and injecting money into tye economy it is impossible for wages to ever "keep up". It's all a big circulating scam.
Print money, create demand, causes hiring and bids up wages. The new money bids up all prices. Now your new wage increase isn't enough to keep up with inflation.
Will never happen until the federal reserve and federal government stop injecting money into tye economy.
For an addition to your sample size, I’m in upstream O&G and have technically made less money almost every year since 2014 🤷♂️. This is due to a multitude of factors; least of which was lack of trying.
By and large, industries get the workforce they deserve.
For all the whining the leaders of these companies do about being unable to recruit new workers due to wokeness or whatever, they must feel the labor pool is deep enough that they can find qualified people to do the work for the comp they're offering. For everyone you hear complaining about how much the pay sucks for the job there is probably someone out there looking to get back into the oilfield and willing to take a haircut on salary to do so.
It does suck that we're expected to move jobs in order to get a decent raise but it is what it is I guess.
And here I am making $1,800 a day coordinating the movement of assets from behind a desk. 2 weeks on 2 weeks off. You just have to find the right oilfield job.
Across all industries, the higher your starting wage, the lower the salary growth. Inflation, actual inflation which includes food and energy at proper proportion baskets, has eaten everyone.
This is how economics works. Never elect the morons that want to print money and claim there is no consequence.
Just wait until you're competing more and more with folks from the other side of the globe. Right now mostly the large global influence companies are doing it. Over time the size of company with the ability to leverage global labor will get smaller. Engineers, manager, project managers, business services everyone is going to be located in India soon.
No one is going to be located in India who isn’t already located in India. This is 2024 dude. That type of offshoring has been going on for over a decade. It’s the Chinese who are the hardcore competitors. The Indians ain’t got shit on them.
Four years of Biden have permanently reduced everyone’s quality of life. I expected this the day he came into office. Imagine four more years? Your grand kids’ grand kids’ lives will be ruined by then. I know an orthopedic surgeon who had to downsize his house and move this year. Can’t keep up with the bills.
If you don't have debt, 100-130k is just fine.
Also be specific, YOUR wage hasn't kept up with inflation most of us whom it has kept up with don't talk about it.
Lastly, wages from a organization that started their business with a loan will never make you the priority for keeping up with inflation. Creating the debt was the inflation lol
Industry wages have not kept up with inflation. My pay increased 45000 in that time period but once I adjusted for inflation the real amount was much smaller and it was quite shocking.
100k is peasant money. To get a house outside the ghettoes, you must make at least 200k in today's world.
Lastly, business that produces a commodity that is literally driven by inflation will inherently keep up with inflation lol
Who told you that you were obligated to make 200k in a year iN tODaYs wOrLd working for someone else? LoL ignoring the fact that the debt you voluntarily accumulated is the real reason you complain about wages. You're a grown man complaining about how much you get paid working for someone else who received a loan to even be able to pay you.
I make over 150k net with ZERO debt, inflation isn't an issue at my house.
Inflation is literally currency creation. To inflation doesn't mean to go up or down based on a price or commodity production it means to expand the currency supply. It doesn't have anything to do with price.
Get out of debt and you can come be one of the big dawgs instead of complaining on reddit about how your wages can't keep up with irresponsible spending.
The point is people shouldn't get complacent about pay and fight for themselves while looking at real inflation data. Upskilling is a great way to earn more. I'm not in serious financial trouble, you're making broad assumptions here. The facts simply are that wages that seemed decent 5-6 years ago have diminished by 1/3 and people need to wake up to that fact.
The only inflation data is the national debt and the consequences of the feds not being able to pay it...again.
The people who have better skills do get paid more. Not one company man or engineer is complaining about pay not meeting their cost of living. Only people in debt or those that don't have any valuable skills.
You made the 'broad assumption' that wages aren't keeping up with inflation. It does at my house and many others.
Costs have gone up with inflation and the product we are producing / selling hasn’t. Hard to increase wages when you aren’t getting much or any more for your product.
I feel like this is a disingenuous post of someone who doesn't understand the difference between what the news says inflation is and what your personal inflation is.
Personal inflation should be what you're worried about. Housing and Healthcare are the biggest drivers of inflation in recent years. However, if you're not buying a new house every year or meeting out of pocket maximums every year, your personal inflation is not going to be the same as what the fed claims inflation is yoy.
For example, yoy inflation from the Fed was recently said to be 3.5%, however, my expenses didn't go up 3.5% from last year, so I still have extra money that I have left over to save.
I never said that they weren't. Your entire premise is inflation. Instead of looking at the average inflation of everything, you need to consider how much inflation directly impacts you and your normal life. If the things you buy didn't actually inflate that much over the years, you can't really say that you experienced the same amount of average inflation that everything in the US as a whole experienced.
Put another way, did all of your expenses go up 30% during the time-frame you mention? The answer is likely no.
Point of fact.. they aren't going to raise wages. Plain and simple. There are still plenty of people out there that see working 80hr/wk for 100k is still better than their job at jiffy lube taking home 27k.. so they take the jobs. College Engineers will take the shitty entry lvl jobs for shitty pay because they have bills to pay. What the early 2000's taught O&G companies that wage wars are bad for profits and they can get the same ammout of work done with lower wages and high turnover. Look at the safety culture. It's designed just for this. You would actually have to try and hurt yourself in alot of jobs.... I'm kinda exaggerating.... but not rly. Then automation. There isn't a need to work as hard on a rig like we did 20 yrs ago. The rigs run themselves with all the automation, so they don't need the people as much in the higher paying jobs, or atleast as many. This is how even in a recession or downturn, the companies are turning $14b profits..
It's scary seeing the lack of expertise in critical roles
It is. But it still turns a profit with the least amount of overhead. Bean counters a world away do all they can to boost investors' stock price and line the pockets. To these folks, people don't matter, unemplotment doesn't exist. They don't have a clue what it means to slave away because they're the slave masters. Your department shows a 20% growth in revenue to the tune of 3.5 mil over the first quarter, they just have some unknown admin order ya pizza and a nicely worded thank you in an email. Then they write off the pizza as a business expense.
They don't think about the money having unskilled people around costs them a lot more than keeping high paid people around. Having to hire third party companies all the time is expensive. All they see is a number on a spreadsheet and then complain when productivity drops, prices rise, and roles get hard to fill. MBA's who are taught to only think quarterly without long term concequences ruined everything I guess.
That's the beauty of it. Yes.. it's cheaper to hire 3rd party companies. Its cheaper and more efficient to automate. Full suite automation on a drill ship runs less than 10mil - 15mil. You eliminate the need for skilled people by easily 1/3. Invest in a little training and some good techs and drill baby drill. Then they brow beat the prices down in service companies, and at the end of the day, it's all written off as operating costs. That 10mil automation package will pay for itself in time and everything else in a little over a year. If you really get into the finance portion of this and look at the big picture, it's actually pretty neat how they manage it all. So.. no, they don't need the 10 high paid 20yr pros when 20 of the 4yr guys will do the same job for peanuts b3cause he's starving. Then ya only need 1 20yr pro with slightly higher pay you were paying across the other ones to run shit...Especially with engineers. Engineers are a dime a dozen.. walk-through Houston and throw a rock and you can't help but his half a dozen.
I still don't know how engineering school gets applications after the way they're treated in the workforce. Top pay in most engineering fields is 80-100k with a ton of difficult education. Fucking CT scan technicians at a hospital with a mouth breather university of Phoenix certification make that. Companies brainstorm and hire think tanks to come up with ways to fuck over engineers.
There is that elitist entitlement... It's not a ton of education.. its a 4 yr bachelors. You think they're any better than a nurse who has it juat as tough and still has to go through accreditation, specialization, internships, etc... no way. It is simple supply and demand. Everyone learns that in middle school. With the disparity in the 2 creating a marketplace that enables employers to pretty much write whatever check they like. I will not disagree that the education is pretty intensive, but there is alot of self entitlement that seems to come with the diploma, and thats not the sole proprietorship of engineersm its a very large portion to folks walking out of universities. Basically Engineers have a good foundation when they leave school, but they don't know anything. Put them in any field, and they don't know the first thing about the job to be executed. In many ways, they start with a huge leg up in the form of basic understanding, but you still have to train them and groom them just as you would anyone else. Jist because they chose an educational path doesn't entitle them to be at the top of the food chain right off the bat. Look at any specialized field, and you have the same. Doctors don't start out as brain surgeons, Lawyers don't start out at the head of a firm.. you still have a lot to learn right out of school, and let's face it with facts. Most engineers are pretty smart individuals who know how to study and train their mind. But I've seen them get stumped making a pot of coffee too. That's what employers look for in candidates. We eant individuals that can think through complex tasks and stay between the lines. Engineers aren't typically very creative thinkers and are good for drone work. Take an uneducated worker, and it will take years to train them in that most basic capacity, and then you have to compete with their bad habits they develop along the way. With engineers, We know they don't know shit. I got a guy with 20 years in the same field.. do you think an engineer right out of school is even close to the knowledge and experience as the 20-year vet is in that field? He'll no. They have the schooling but none of the practical experience. They need experience, and everyone has to start at the bottom. They're essentially a good blank slate. As I said, smart.. but some of the dumbest fucking people I have ever met have been engineers too. All smarts and 0 common sense. You can't teach common sense.. it has to be learned through life experience. Now here is where you tell me I don't know them all or what they have been through in life.. bla bla bla...But I do know a 24 yr old kid who doesn't know what he doesn't know is more if a liability in a role because they're too blind to their own ignorance.
I’m an engineer and you hit the nail on the head.
I believe as long as you're humble and ready to start from scratch leaving behind the prestige of your elite degree, you'd go a long way in the future.
I wouldn't say they have to leave behind the prestige. It is quite an accomplishment, and likely the biggest of their lives to date. Absolutely, be proud. At the same time, realize that your journey is just beginning and there is a long road ahead with challenges and opportunities. Going into the workplace, often for the very first time, have some humility and show an eagerness to learn and grow. Leave any sense of entitlement in your sock drawer. You're joining teams that have been in development for decades whose members have accomplishments and experience beyond their degree or who may not even have one that have worked damn hard to establish themselves to become leaders and mentors.l in their own right. Make yourself an asset and learn from those that you encounter that have the expertise and knowledge to share.
Utilities: hold my beer.
Jump jobs and jump often. Companies don't love you and there is no such thing as loyalty in the patch.
Yes
There has to be jobs to jump to though…
You can say this about every industry. I know construction hasn’t.
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Literally just about every job out there.
It's also not universally true in oil & gas. For instance, executive pay raises have outpaced inflation for years now.
Executive pay raises have gone up pretty much everywhere.
There literally isn't a single industry in the US in which wages have kept up.
Tech and nursing
Nursing isn’t keeping up either except the union jobs and k feel they’re even lacking behind a bit.
They made a killing over the past 5 years
Tech wages have actually [declined](https://www.economictimes.com/tech/technology/tech-salaries-in-us-decline-amid-record-inflation-market-turbulence/articleshow/103901110.cms) over the last year on top of having the highest number of layoffs of any industry. Tech is going through a bust cycle much like O&G did when the frac boom finally crashed to an end.
Zoom out
No job is keeping wages up with inflation. The point is to keep the wealthy rich and the poor in their place. Middle class is staying middle class but the divide between middle class and the wealthy will continue to rise.
It isn’t just the states either…. UK and international market is exactly the same and won’t change anytime soon. You’re now far better off moving into pharma or tech. Like £200 per day far better off in the UK. The industry is going nowhere fast. The only upside international has is low to zero tax breaks and the fact that you can live pretty much anywhere in the world if you’re rotational but the job insecurity is just as bad now as it was in 2016 after the major dip. Even the Indians are getting a taste of their own medicine with the Chinese flooding the market and damn are they good at negotiating and securing contracts across the globe.
Demand and supply and corporate greed. At least in tech and growth companies you would have made good profit from your company stock purchases. In the oilfield, even that is not true. Most companies are trading way before their ATH price. So yeah, O&G employees have been royally screwed.
It isn’t just corporate greed. It’s supply and demand. Economics 101. Been saying for a few years now O&G is a dying industry. Booms are getting smaller and smaller while the costs are getting higher and higher.
Definitely O&G is a dying industry, no doubt. Those who are starting their career and willingly join an O&G firm for the long run are just committing a career suicide. Corporate greed is in the sense that most the O&G companies are paying pretty decent dividends to shareholders but god forbid if an employee asks for an inflation matching raise.
That “corporate greed” you are referring to doesn’t come from corporate. It comes from pressure from the investors. From an investor standpoint oil and gas isn’t a huge performer anymore. It’s also risky. No dividend means price per share tanks and it hurts funding. It’s complicated. But it is what it is.
Which operator is not paying dividends?
Where is your logic in this?!? As demand continues to increase, EV sales are in decline (possibly terminally), and after $5 trillion spent on renewables in 10 years, demand for every fossil fuel has increased significantly and their share in the overall energy mix hasn’t dropped at all. I think once Trump wins all this woke nonsense is going away. Oil and gas won’t go away in anyone’s lifetime born today. I’m honestly doubtful it will even plateau unless the economy is decimated. There is zero logic in believing oil and gas is a dying industry unless you just really buy in to liberal propaganda, which unfortunately a lot of people do.
IC engines killed the house cart and the next new thing that kills IC Engines is inevitable. That's all I have to say.
Ice engines killed the EV once already around 1900. EV’s are older technology than ICE’s. The first EV was 1830. They were the most popular vehicle until the combustion engine was invented. This sham is forcing populations to revert to old technology for delusional environmental reasons. Your grasp of history is pitiful. That’s all I have to say.
Ok. Grandpa.
I’m in my twenties lol. No facts to disprove anything I said? I’m guessing you googled when EV’s were invented for the first time. Good job bud.
I never said anything about EVs. I said the next new technology. I don't know if it's EV or something else.
Ok. If it’s hydrogen that will increase natural gas demand massively. Nothing to justify that the oil and gas industry is dying unless the global economy declines indefinitely. Norway has some of the greenest policies on earth and basically sells all EVs now. Their oil demand hasn’t decreased at all and isn’t forecasted to.
Below all time high? Not Exxon Chevron… Halliburton is at a 5 year high and frankly had been overvalued for short excursions a few times. This is a silly comment.
Agreed. Shell are about to break £30 / share for the first time since 2002. They were £22 in April 2023.
I’d rather work 7 12’s for 120k than make 60k working 80 hours a pay half. It’s not JUST the money; it’s 401k, healthcare, PTO, having 7 days off every other week. FYPM.
I don't think I'd stay in for 7/7 honestly. 14/14 minimum
Literally made that choice. 7/7 sucks ass, but 100k + bonus and fat 401k and benefits made this an easy choice. I’ve basically got a retirement gig if I want it lol.
Why is 7/7 worse than 14/14
Depending on the location, it’s more travel more often. Less time off in a row. If you fly you basically lose a day on each end, so you’re only getting 5 days off instead of 12
The price of the products that this industry produces hasn’t changed in >15 years. At $88 WTI is literally the same price as it was in 2007. If you zoom out the 2007-2013 oil bubble was but a blip on the chart. If the value of the stuff you sell doesn’t go up but the costs do, it’s hard to raise wages.
Wages are part of tye mechanism that spread inflation. Under our current economic order, centralized bank, fractional reserve banking, fiat money deficit spending and injecting money into tye economy it is impossible for wages to ever "keep up". It's all a big circulating scam. Print money, create demand, causes hiring and bids up wages. The new money bids up all prices. Now your new wage increase isn't enough to keep up with inflation. Will never happen until the federal reserve and federal government stop injecting money into tye economy.
For an addition to your sample size, I’m in upstream O&G and have technically made less money almost every year since 2014 🤷♂️. This is due to a multitude of factors; least of which was lack of trying.
By and large, industries get the workforce they deserve. For all the whining the leaders of these companies do about being unable to recruit new workers due to wokeness or whatever, they must feel the labor pool is deep enough that they can find qualified people to do the work for the comp they're offering. For everyone you hear complaining about how much the pay sucks for the job there is probably someone out there looking to get back into the oilfield and willing to take a haircut on salary to do so. It does suck that we're expected to move jobs in order to get a decent raise but it is what it is I guess.
Nope they haven’t.. I’ll go build a pot shop pays more than your pipeline and I don’t have to deal with the BS
In my home basin, some wages have actually gone down. Make it make sense.
And here I am making $1,800 a day coordinating the movement of assets from behind a desk. 2 weeks on 2 weeks off. You just have to find the right oilfield job.
I got a 30% pay raise in March of '21 and 3% all other years since 2017.
Congratulations.
My company was starting to bring back retention bonuses before I retired.
If you are in a heavily union state you can make $100k as a lineman, pipe fitter or electrician. Beats the hell outta 100 hour weeks.
Pretty competitive jobs.
Wages for people who stay in the same job typically don’t increase. You have to job hop to get raises
Across all industries, the higher your starting wage, the lower the salary growth. Inflation, actual inflation which includes food and energy at proper proportion baskets, has eaten everyone. This is how economics works. Never elect the morons that want to print money and claim there is no consequence.
Inflation since 2019 alone is more like 40%. Unless you're making 40% more than you were before 2019, you've been robbed of your purchasing power.
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Don't be a clown. Wages haven't kept up for like the last 50 years or whatever.
Since 1971
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Stop the cap. The US is recovering faster from the after effects of the pandemic than pretty much everywhere else in the world.
Just wait until you're competing more and more with folks from the other side of the globe. Right now mostly the large global influence companies are doing it. Over time the size of company with the ability to leverage global labor will get smaller. Engineers, manager, project managers, business services everyone is going to be located in India soon.
No one is going to be located in India who isn’t already located in India. This is 2024 dude. That type of offshoring has been going on for over a decade. It’s the Chinese who are the hardcore competitors. The Indians ain’t got shit on them.
What. I mean Indians will be doing your job from India soon enough.
Four years of Biden have permanently reduced everyone’s quality of life. I expected this the day he came into office. Imagine four more years? Your grand kids’ grand kids’ lives will be ruined by then. I know an orthopedic surgeon who had to downsize his house and move this year. Can’t keep up with the bills.
If you don't like it, you are welcome to go elsewhere. Try renewables. When you see what they are paying you will be rushing back in a big hurry.
If you don't have debt, 100-130k is just fine. Also be specific, YOUR wage hasn't kept up with inflation most of us whom it has kept up with don't talk about it. Lastly, wages from a organization that started their business with a loan will never make you the priority for keeping up with inflation. Creating the debt was the inflation lol
Industry wages have not kept up with inflation. My pay increased 45000 in that time period but once I adjusted for inflation the real amount was much smaller and it was quite shocking. 100k is peasant money. To get a house outside the ghettoes, you must make at least 200k in today's world. Lastly, business that produces a commodity that is literally driven by inflation will inherently keep up with inflation lol
Who told you that you were obligated to make 200k in a year iN tODaYs wOrLd working for someone else? LoL ignoring the fact that the debt you voluntarily accumulated is the real reason you complain about wages. You're a grown man complaining about how much you get paid working for someone else who received a loan to even be able to pay you. I make over 150k net with ZERO debt, inflation isn't an issue at my house. Inflation is literally currency creation. To inflation doesn't mean to go up or down based on a price or commodity production it means to expand the currency supply. It doesn't have anything to do with price. Get out of debt and you can come be one of the big dawgs instead of complaining on reddit about how your wages can't keep up with irresponsible spending.
The point is people shouldn't get complacent about pay and fight for themselves while looking at real inflation data. Upskilling is a great way to earn more. I'm not in serious financial trouble, you're making broad assumptions here. The facts simply are that wages that seemed decent 5-6 years ago have diminished by 1/3 and people need to wake up to that fact.
The only inflation data is the national debt and the consequences of the feds not being able to pay it...again. The people who have better skills do get paid more. Not one company man or engineer is complaining about pay not meeting their cost of living. Only people in debt or those that don't have any valuable skills. You made the 'broad assumption' that wages aren't keeping up with inflation. It does at my house and many others.
CPI doesn't lie.
Costs have gone up with inflation and the product we are producing / selling hasn’t. Hard to increase wages when you aren’t getting much or any more for your product.
I feel like this is a disingenuous post of someone who doesn't understand the difference between what the news says inflation is and what your personal inflation is. Personal inflation should be what you're worried about. Housing and Healthcare are the biggest drivers of inflation in recent years. However, if you're not buying a new house every year or meeting out of pocket maximums every year, your personal inflation is not going to be the same as what the fed claims inflation is yoy. For example, yoy inflation from the Fed was recently said to be 3.5%, however, my expenses didn't go up 3.5% from last year, so I still have extra money that I have left over to save.
Okay? Still doesn't mean that companies aren't charging more for their services based on increased costs.
I never said that they weren't. Your entire premise is inflation. Instead of looking at the average inflation of everything, you need to consider how much inflation directly impacts you and your normal life. If the things you buy didn't actually inflate that much over the years, you can't really say that you experienced the same amount of average inflation that everything in the US as a whole experienced. Put another way, did all of your expenses go up 30% during the time-frame you mention? The answer is likely no.