It's a tough job market out there these days. The economy only added 1 million jobs from 2007 to 2012, equating to a paltry 1% growth rate. That being said, one sector is actually in the middle of a hiring boom. Over that same period, the oil and natural gas industry grew employment by over 40%. And the trend in oil careers isn't expected to slow anytime soon: More than 1 million energy jobs are expected to be added to the economy by the end of the decade, which is great news for job seekers as many of these jobs pay extremely well.
Not only are careers in the industry plentiful and high-paying, but oil companies can be among the best companies to work for in the world. Here's a list of three of the best.
Top-rated oil company to work for: Chevron
Chevron ranked 14th on employer rating website Glassdoor's list of the top 50 large companies to work for in 2014, earning 4.2 stars our of a possible five and topping all other oil companies. Overall, 87% of employees who rated Chevron on Glassdoor said they would recommend the company to a friend, while CEO John Watson earned a 96% approval rating.
One reasons current employees rate Chevron so highly is because the company takes very good care of them. The company's benefits plan scored 4.4 stars, putting Chevron 30.5% above average for compensation and benefits. Overall, Chevron ranked eighth on Glassdoor for compensation and benefits and was the only oil company in the top 25. Finally, Chevron ranked 24th for career opportunities.
Top oil company for career opportunities: Suncor Energy
While Chevron made Glassdoor's top 25 ranking for career opportunities, it wasn't the top oil company on that list. That honor went to Suncor Energy, which ranked seventh. The company received an overall rating of 3.9 on Glassdoor; 82% of Suncor Energy's employees who filed ratings with Glassdoor said they would recommend the company to a friend, while 90% approve of CEO Steve Williams.
Suncor Energy is also one of the top employers in Canada. For the past few years it has made The Globe and Mail's list of the Top 100 Employers in Canada, in part because it manages an academic scholarship program for children of employees. Meanwhile, it was also chosen as one of the top employers for young people in 2014 because of its rotational programs for new graduates, mentoring programs, and strong training programs. These programs set new employees on the path to have a strong career at Suncor Energy.
Top oil company for work-life balance: Royal Dutch Shell
A career in the oil industry isn't for the faint of heart. Many jobs require long hours and heavy lifting. Meanwhile, an oil career can demand a lot of travel, as most oil discoveries these days are in pretty remote places. That can make it hard to have a strong work-life balance. However, this is where Royal Dutch Shell really thrives: Glassdoor ranked the energy giant as the 20th best company in the world for work-life balance, making it the top oil company in that category, two spots above Chevron.
Overall, Shell received a four-star rating on Glassdoor as 84% of employees would recommend the company to a friend. Seventy-eight of the 418 employee reviews noted that one of the pros to working for the company was its strong work-life balance.
Some of the best companies to work for in the world are oil companies. That's great news for someone looking for a career in oil as it only adds to the strong employment opportunities and solid pay that the industry is known for these days.
Matt DiLallo has no position in any stocks mentioned. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.