Last week I had the opportunity to attend the AIPN (Association of International Petroleum Negotiators) conference held in Bapstrop (30 mins from Austin). Every single presentation was very interesting, and particularly one surprised me a lot: Lack of Graduates in the Oil Industry.
Karl McGarvey, Boyden employee, presented the current situation of the Oil Industry. 73% of the people working nowadays is older than 40 years old, and 50% of this group is older than 55 years old. This means that there is a lack of young professionals, and, therefore, future directors are going to be younger than today's.
Also Mr. McGarvey mentioned that according to the surveys, generations between ´77-´94 are orientated to Team Working, Techno-Savvies, Proactive, looking for Instant Gratification, and Working to live.
As consequences, it is thought that salaries and compensation for young professional may increase, trainee programs are going to be a key factor to develop the future directors for the companies.