Are you interested in getting your foot in the door of the ever-booming oil and gas industry? You know, the jobs that always seem to profit.
Despite its reputation, the industry is not as intimidating as it may seem to get an entry level job.
Many oil and gas companies require employees to have some level of background in engineering. The basic STEM courses within the field will take you a long way.
With that being said, there are many companies willing to train their employees. And if you already have the education under your belt, then you can bypass many positions and begin working your way to the top.
Economy of the Gas and Oil Industry
With the COVID-19 pandemic coming to an end, the Gas and Oil industry is likely to see a positive boom. The pandemic took a big hit on these companies, as traveling was brought to a halt.
Various sites, like Deloitte, can bring insight into the trends of the Gas and Oil economy, so you know the perfect time to jump in. Not only are the trends predictable, but so are the challenges and obstacles anticipated the industry is likely to face at specific times.
Once you’ve identified the perfect time to dive in, it’s important to locate your niche, as the industry is not one-size-fits-all.
Find Your Fit
Like all industries, Oil and Gas is only an umbrella term for all the areas and niches you can find yourself drawn to, engineering only covers a section.
Petroleum engineers and energy engineers are what most people turn to when they want to enter the industry.
Engineering geologists, mining engineers, hydrographic surveying, geoscientists, and many more continue the extensive list of opportunities.
The career path you choose can take you to the oil rigs out into the ocean on offshore drilling platforms to an office space for doing the paperwork required for these companies.
Setting Yourself Up for Success
Whether you are starting your own business or joining someone else’s, it’s important to consider the ways in which you can gain access to the most success. With high paying industries, such as the Oil and Gas industry, there are high taxes, legal concerns, and more to pay attention to.
As a new employee, don’t forget you can deduct things like training courses and other certification requirements, as well as any materials or equipment you need to enter the field.
Taxes are often a difficult concept to wrap your head around, especially in the highly taxed industries. The hardest part is just keeping up with the income and receipts in order to properly claim your deductibles.
Oil and Gas Accountants, like COPAS, can easily assist you in the tax process for your business or for your employee income.
There are also many legal concerns to prepare for. HG Legal Resources outlines many of these, including oil spills, environmental regulations, mining, natural gas, and extraction. These are especially important for business owners, and not so relevant to employees, although it never hurts to protect yourself if a business is not taking the proper steps to protect themselves.