Oil salaries rise despite plummeting prices

The average salary of an oil and gas professional in China was $85,851 last year, up 5.7 percent compared with the previous year, according to the latest annual Oil & Gas Salary Guide released by global recruitment firm Hays.

Three-fourths of the professionals in the sector received benefits on top of their salaries. Bonuses were the most common benefit, with 39 percent of employees receiving them last year. Other extras included housing, healthcare coverage, meal allowances and home leave allowances.

The oil price peaked at nearly $110 per barrel in June, but has since fallen by nearly 60 percent. Investment bank Goldman Sachs predicted in January that the price of West Texas Intermediate crude will drop to $40.50 per barrel before bouncing back to $65 per barrel by 2016. However. Morgan Stanley has warned that the limited pickup will not last long.