I notice that everyone here is very much against complaining. I would not call this complaining but bitter criticism. -- If the person who came as a replacement for my former colleague is equally (if not more qualified) than him, why is he paid, not less but much, much less? I understand that COP, like all other companies, wants to get as much as possible and pay as little as possible, but I was also surprised that the replacement was paid so much less.
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Since you like to compare yourself to others, did you know the energy sector has the highest median salary of any industry in the S&P 500?
If you manage to survive for 25-30 years and prudently invest a big chunk of your income, you will retire in a style most Americans can only dream of.
It's called the Big Reset kiddo. Salaries exploded during the hundred-dollar-oil days because every company was competing with every other company for warm bodies to grow as rapidly as possible. Now these same companies are replacing the same people they overpaid for with newbies at a lower cost.
Just remember, the faster your total cost to the company rises, the closer you come to getting laid off during the next downturn and/or reorganization.
I was told by my supervisor the discrepancy between my salary and the person I replaced. I was totally caught off guard. I knew there would be some difference. However, I did not expect it to be 30k difference in salary alone…
The sKill levels and technical expertise to explore and provide engineering support to unconventional resource plays simply don’t command the compensation of offshore, deep water, Arctic and international mega projects. It’s time to recognize the rather basic needs of our assets with rather basic compensation. The unconventional plays just need the ability to consistently lather, rinse and repeat.
That 1st comment is wrong. There is a lot of demand for workers, and less supply of quality workers. Salaries should be increasing quickly. . . .
How do you really ever know who was paid what? And was the previous employee being paid so much for the job they were doing when they left? Or was the pay reflective of a past role and SGL?
Because it is supply and demand. Lots of energy folks have lot jobs. So, energy companies will be able to replace for much less. It is not right. But it is what it is