What are offshore jobs? What do people average when they talk about offshore jobs? Well, different people average different thing when they use this phrase. At its broadest meaning, offshore jobs method any job which is not on the mainland of wherever you are staying. It could average a job on an offshore oil rig or it could average a job on some island belonging to another country. For someone residing in the US, a job in the Cayman Islands or Singapore would be offshore, and so would a job on an oil rig just off the coast of one of the Gulf states.
Why should it matter? For two reasons, really. The first is taxation. There are certain laws in the US meant to encourage citizens to take on hardship or risky postings out of the border. If your lawyer and accountant agree that your job falls under this category, you may be able to get a pretty hefty tax deduction. At one point of time, you could deduct up to $80,000 per annum. If you were a roustabout working on a thorough sea oil rig and earning $80,000 per year, this meant you didn’t need to pay any income taxes at all. clearly, you’ll need to check with your lawyer and accountant and get them to do the appropriate paperwork.
The second important reason is that an offshore job typically pays better than its equivalent onshore job. You’ll get paid more as a driller on a thorough sea oil rig than a driller on an onshore oil rig. Same with the sustain jobs like electricians and mechanics. The offshore pay is much better, especially nowadays when the complete oil industry is facing a harsh shortage of warm bodies to crew their new oil rigs.
So why do oil companies pay more for offshore work? From the economics point of view, it is a simple matter of need and supply. Right now, oil prices are high and getting higher. Most of the oil is under the ocean, so oil companies are desperately building offshore oil rigs and thorough sea oil rigs. While robots work okay in the limited confines of a factory, oil rigs nevertheless can’t be automated. They nevertheless need human crew to function them. Hence the great need for workers. Unfortunately for the oil companies, the people who have the qualities needed to work on an offshore oil rig are pretty scarce. You need to have a combination of guts, brains and physical strength. Not many people have all three. So we have high need and low supply, which results in sky-high pay. Someone who is basically a laborer can earn more than the director of a small company.
except that, an offshore oil rig is considered a hard and potentially dangerous posting. You need to keep this in mind while the dollar signs are dancing in front of your eyes. While modern rigs are undoubtedly safer than the oil rigs 50 years ago, you should remember that working in the middle of the ocean can get quite exciting when there is a major storm going on around you… Or an earthquake, or a tsunami (if you are just off the coast).
Now you should have a better idea of what people average when they talk about offshore jobs and why it should matter to you.