Examining the rate market

A trio of managers at Omega's headquarters in Ølensvåg have surveyed the rate levels of consultants working for operators on the Norwegian continental shelf. In order to document the ongoing development of the market, this process will be repeated every six months. 

Erlend Nedrelid (left), Pablo Tveita and Simon Calvert have surveyed the rate levels of consultants working for operators on the Norwegian continental shelf.

The trio responsible for the market analysis are Department Managers, Simon Calvert and Pablo Tveita, along with Competence Assurance Manager, Erlend Nedrelid. The survey was based on 15 functional areas, which were divided into disciplines. When education and experience levels were also taken into account, the survey covered over 220 job categories. 

"The results of these surveys are a useful tool for us in determining future rates," say the three Managers invovled. 

Great data 

The rates achieved as an outcome of the analysis were based on the rates of all of Omega's employees that are currently assigned to various oil companies. The rate levels of the job categories where Omega does not have staff, was achieved by going through the current rates of all company contracts with operators.  

"In addition, we conducted a survey of a large number of candidates registered in our database - those who currently have contracts with operators via other providers," said Simon. 

We sent out a simple questionnaire in which we asked how many years of experience respondents had in the industry, as well as their education level and the rates they had been offered. The form also allowed for the specification of seniority levels for functions and disciplines. In addition, we wanted to know if our respondents were local candidates, commuters or expats. Based on this, we have been able to form an overview of rate levels and have found the average rates for all functions and disciplines in the Norwegian market."  

Appropriate levels 

"Omega has never wanted to put great pressure on rate levels, in good times, or in periods of market decline, like today. However, it is certainly not our goal to sell expertise for less than it is worth. We now believe we have a very good basis for assessing realistic market rates, as well as many good arguments regarding rate choices, when in dialogue with our employees, clients, and candidates. Several of our clients have already shown interest in the outcome of our work," explains Simon. 

One lucky winner 

All respondents to the survey were placed in a draw and one lucky winner was chosen. The winner of a kit of Omega goods was Diderik T. Uchermann. Diderik has followed the development of Omega ever since he first contacted in us in 2003.