Oceaneering bonus program

[Randall]

Does oceaneering have any kind of bonus program for there ROV pilots/techs?

[deepseacon]

There is some Bonus but depends on the contract you have they have many different types depending on which office. They would be more than dozen different contract for Pilot Techs.

Anyway for example if your on a Dubai one and if a Pilot Tech you want see any extra pay as they take i think 6% of you for your TAX where this money goes i dont know.

As a Pilot Tech your Bonus % is less than 6 % as well.

[Nathaniel Essex]

It’s a joke. You need to work more than 180 days and then you get like 50 bucks extra for the days over. And the way they break it up you have to wait a full year to get the money. 😀

They just started paying travel for technicians again. 🙄

[Roy Simson]

If Oceaneering does have a bonus program its not worth the paper thats its printed on . Same with contracts just read the small print .

Cheers

Raptor

[Jack]

I work for Oceaneering and don’t agree with any of the comments above-

The 6% you are talking about from Dubai has nothing to do with any bonus it is tax- as you are not taxed at source if you live in the UK you receive your pay gross and handle your own tax returns which the 6% is taken into account for. It is a Dubai tax contribution (whether they pay it or not- who knows)

The way the bonus scheme works is in accordance with how many years you have served and is based on your previous years earnings. I don’t know the exact figures but I think after 2 yrs its about 3 % (of your previous years earnings) and increases each year upto a maximum of 12% for service over 8 years- which is a healthy bonus if you ask me. the bonus is paid to you in two instalments (50% each time)

so if you earned say £60,000 last year and had been with the company 8 yrs you would get £7200 bonus paid in 2x £3600 instalments

Hope this is of use 😀

[deepseacon]

My point is the bonus is crap for a new person going to OI.

Why well depending which contract your on.

If your on a Dubai contract and should be paid gross but get paid less 6% then the salary is all ready at 94% of what is should be.?

It takes several years to over come this loss.

I have worked for ABZ and Dubai and as an agency contractor so i have seen first hand and met guys who earn less and OI was one company it happens in.

Why should i pay 6% TAX for what reason? No one else pays it working in those sectors?

OI ABZ is perhaps a good place to start a career though.

[deepseacon]

Mcinroy

The 6% deduction has a lot to do with the bonus scheme if employed through Dubai if one thinks there going to get ??? USD a day for example and told your getting a Bonus which increase’s you think ok fair enough.
Its more than ??? USD.

If ones day rate is reduced by this 6% TAX and then we say but with give you a great bonus but your day rate is still less for say 3-4 years its not much of a bonus is it.

Not every one needs to pay taxes and certainly not in those countries which OI Dubai staff are going to compared with industry and other OI staff.

While if one is employed say in ABZ and happens to get good bonus after 8 years just think of that lower salary one had to go without for 8 years to get that 12% bonus on still that lower salary than industry generally pays.

[Roy Simson]

You dont have to go very far to confirm my statement is correct just look back on the Archives on this web site .

Year after year same main line company’s looking for personnel , I think it was Oceaneering that the guys in India had to give money before they could work for them .

At the end of the day its down to how much money your going to make and none of these bonus schemes seem to last or work if they worked they would not have the crewing problems that they have now .

A few years back I seem to remember a bonus scheme for working down in Africa that may not have been Oceaneering but it was stopped .

Any way dont take my word for it just go back a few years on this forum .
A loyalty Bonus is there to try to keep you with that company but when there is no work like 1986 your all on the dump as the rest of us .

Cheers

Raptor

[James McLauchlan]

I’ll choose my words carefully here 😉

My knowledge of global OI rates is, in general, they are well below par. They then try to sweeten the deal with bonuses which often still don’t bring the rates up to market prevailing rates anyway. Those that work for OI and defend those rates need to look around a bit to see what other co’s are paying. Mind you… OI get away with low rates in the GOM because offshore pay is pretty average there anyway. Same for the Middle East.

[rovredneck]

In the OI AME Div. loyalty bonuses are paid out according to employees time with the company twice a year as stated above. Employee’s also get half day rate more for every day they work over 105 days in a six month period. OI guys from this div. do pay 6% foreign tax every check but for U.S. citizens that is all credited back to them by the U.S. Federal Gov. when they file income taxes every year so it evens out. So if you owe the U.S. 30K in taxes they will subtract that 6% you paid in on foreign taxes and it reduces your overall debt to the U.S. Gov. by that much. And the max for the bonus is now at 14%.

[turtle]

No deduction for foreign tax can be made on a US tax return unless the specific taxing authority (country) is named that receives the tax. None of the OI guys I know can do so. The 6% is withheld for "overseas tax" but the contractors are not provided with the documentation as to where the tax is actually paid. If this is claimed on a US return the filer leaves himself subject to unfavorable review of this deduction should he be audited.

The math on the OI "bonus" pencils out to be an amount that is withheld from pay in the form of reduced wage, then held in the company coffers to be fed back in 6-12 months to the contractor as a "bonus".

[rovredneck]

I am looking at my online payslip and it states my location as Offshore Angola. That was good enough for my CPA to do my taxes this year! I am not contract, I am an actual employee of OI, that might make a difference. I also found out from my CPA that I do not have to pay in S.S. taxes because of working in a foreign country. I dont know all the specifics but I know I didnt have to pay that 8K into Uncle Sam this year! Which is fine by me since by the time I get old enough to draw it S.S. wont be around anymore anyway! I am not familiar with all the taxes laws etc. thats why I pay my tax guy to do my taxes for me! I also make a heck of a lot more from my bonuses than the 6% I have to pay out to "Angola"! I dont have any problems with OI AME. I know I am making a heck of a lot more working for them than I ever would have with OI in the G.O.M.!

[turtle]

OK Red, I’ll stand corrected. Seems a lot has changed since my OI Angola days. I’m no accountant and it’s always been money well spent for me whenever I’ve paid for one to keep me sorted.

I’m with you on the GOM pay…these days it works out to be one of the lowest paying regions in the world for ROV personnel, especially OI.

[turtle]

Still, it will be an interesting question if IRS gets curious and there is no documentation stating that the Angola taxing authority actually received any of the withholding from your paycheck.

[liddelljohn]

One could say its the Oceaneering BOGUS payment………

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