We’ve been focusing a considerable amount of attention on the looming skills gap emerging in both the oil & gas and utility sectors that will result from experienced workers retiring in next few years. Often called the “great shift change” or “great crew change,” engineering-heavy companies are bracing for what some anticipate could be a genuine employment crisis.

The good news is at least 7 of the top 10 college majors by salary potential evaluated by payscale.com coincide with positions that energy corporations are desperately seeking to fill. The extreme need for petroleum, chemical, mechanical, electrical and nuclear engineers is highlighted by this survey showing companies are willing to pay top dollar for top talent in these disciplines.

Methodology Annual pay for bachelor’s graduates without higher degrees. Typical starting graduates have two years of experience; mid-career graduates have 15 years. See full methodology.

 

Additionally, the largest US oil company by market capitalization – ExxonMobil – currently has a major ad campaign running that focuses on the importance of science, technology, engineering and math (STEM), with particular focus on engineers. Love or hate Big Oil, the campaign is telling because it illuminates the ferocity with which oil & gas companies are competing to land the next generation of high-quality operators.

“Higher education should not be a luxury.  It is a necessity, an economic imperative that every family in America should be able to afford.” – President Obama

Utility companies face similar competition for talented employees. The industry expects 30% of its workforce to retire in the next 5 years. And when one considers the gargantuan task of maintaining and modernizing the nation’s power grid, this massive exodus of experienced workers could not come at a worse time.

So if you are choosing a major or considering going back to school – and assuming you like electricity and global commerce – it would be wise to consider engineering-related fields.