Energy sector rivals banking for big bonuses

No longer banking’s poor relation, the energy sector is looking increasingly attractive to job seekers as salaries have increased by 12% and average bonuses have risen by a record 21% in 2008, according to consultancy group GRS.

With professionals leaving the banking sector, demand for jobs has pushed average middle office salaries in energy up to almost £90,000 and base salaries for senior positions to £380,000.

Asset backed utilities have reported a surge in profits for the year which has opened up the sector to new recruits, allowing companies to take advantage of the fallout from the financial crisis.

“The pay gap between utilities and banks has closed significantly,” says Ken Brotherston, chief executive of GRS.