Benefits of Becoming an Oil and Gas Engineer

You may also find our Guide to Becoming an Oil and Gas Engineer useful.

The oil and gas industry is one of the few industries that with ever increasing job opportunities can not keep up with demand. As a result the oil and gas sector is inundated with new contracts every day. Wood Group, one of the leading international energy services companies employ over 29,000 people worldwide, and still growing.

Here are some (and these are just a few) of the benefits to contracting as an Oil and Gas engineer Renewable Energy Engineer:

Higher rates of pay - This is only fair as unlike permanent employees, you do not get holiday or sick pay, giving you a greater chance to negotiate a higher rate of pay.
Prospects - There is an endless supply of contracts, as demand for oil and gas is struggling to be met.
Experience - The more contracts you take on the greater your practical and managerial skills. Giving you a wider choice of projects and the ability to charge higher daily rates
Freedom - You can choose which contracts you take on and the length of time your contract is.
Experience - The more contracts you take on the greater your practical and managerial skills. Giving you a wider choice of projects and the ability to charge higher daily rate.
‘Bonhomie’ among the colleagues – If you take a contract on an oil rig, you tend to see the same faces every day and they soon become your extended family. You can bank on them for all your needs.

Contracting as an Oil and Gas Engineer puts a whole new spin on the client, employee, and relationship. Your role is to come into an organisation as the ‘industry expert’, which is not only a nice position to be in, it also adds to your credibility as an industry professional, widens your experience further and helps increase your daily rate.

Another benefit to contracting is you will pay less tax, then a permanent employee. This is to be expected - after all as a contractor you do not get sick pay, holiday pay, and have to manage your own tax affairs.

Any accountant will tell you that trading through your own Limited Company is the most tax efficient way possible. However any good accountant will be able to remove most of the burden and you shouldn’t need to allow more than 15 – 20 minutes a month for limited company administration. Visit the following page for a full list of Benefits of having an Accountant.

If you still have questions about contracting then please contact our New Client Services team on 0500 152500 / 01442 275789 or email jaime.thorpe@sjdaccountancy.com

SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 11,000 clients.

We are the only National specialist firm of accountants with offices in all major UK cities so you’ll never be far from your accountant. SJD also have more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATII, ATT, ACCA, CA, ACA, FCCA, ACMA. You’ll also be pleased to know that we are one of the lowest priced as well.

Free face-to-face meetings. This is another unique service, only SJD offers free face to face meetings - tax is complicated and sometimes only a meeting will do.
Unlimited access to your own dedicated accountant. No call centres, no outsourcing, no automated call handling. Simply telephone, e-mail or meet your own dedicated accountant face to face.
Money back service guarantee. All your telephone calls and e-mails will be answered the same day or we will refund your monthly fee's.
Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market.
All inclusive low cost monthly package which includes completion of accounts, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, unlimited access to your accountant and all company returns. All this for a fixed monthly fee of £110 plus VAT, which is one of the lowest prices in the market.

If you have any questions about contracting or would like any further advice please either contact your SJD Accountant or call our new client services helpdesk on 0500 152500 / 01442 275789 or email: nikki.hanlon@sjdaccountancy.com.

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again!

You may also find the following pages, guides and case studies useful:

Take home pay calculator - How much could you be taking home
Contractor FAQ - All your frequently asked questions and their answers
First time Contracting or Freelancing? - A summary of the alternatives along with pros and cons
Choosing an accountant - For a full review
Step-by-step Guide to Contracting - Download a FREE copy of our guide
Limited or Umbrella? Can't decide? - We help you decide which is best for you
Guide to Contracting - All the best guides to contracting in one place
Expenses Guide - Know exactly what you can claim
Umbrella company guide - Everything you ever wanted to know about umbrella company services
IR35 Guide - A great plain English guide to IR35