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Saudi
Aramco offers highly competitive compensation and benefits packages. These
packages are designed to attract and retain the technical skills, expertise
and competencies from expatriates around the world. The long service of
so many employees is testimony to the fine overall package provided by
Saudi Aramco. Compensation which employees receive consists of a base
salary, plus overbase payments/premiums designed to provide an incentive
to accept and remain on an expatriate assignment. There are differences
among employees recruited from different markets. |
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Other Compensation Elements
In addition to the basic compensation described above,
an employee’s compensation and benefits package may also
include: |
Sign On Bonus – All
employees recruited to fill positions designated by the
Company as “critical-skills” are paid a sign-on
bonus equal to 25% of annual base salary (or higher based
on the Company’s policies and the position offered). |
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Retirement, Savings and Insurance Plans – Depending on the specific
payroll, the employee receives either a company funded retirement plan,
a company matched savings plan and a range of insurance plan options, or
an annual cash payment equal to 17% - 19% of annual base salary that allows
the employee flexibility to make his own insurance and saving decisions,
in addition to specific benefits provided by Saudi Aramco.
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Severance Award - In accordance with Saudi labor law, a severance
award is payable by the Company to employees who leave after two years, or more, satisfactory service. The severance award is based on length of
continuous service and final pay. The severance award can be a substantial
benefit for longer-service employees. For example, an employee with ten
years of service would receive a severance award equal to 7.5 times monthly
final pay. In the case of employees eligible for a Company-provided retirement/pension program, the lump-sum or annuity payment will be off-set by the Severance
Award.
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Repatriation Allowance – All employees are paid on an annual
basis, the travel costs from Saudi Arabia to their point-of-origin for the
employee and each eligible dependent residing in Saudi Arabia.
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Educational Assistance – In addition to local schooling options, the Company reimburses employees, up to established limits, to enroll their eligible dependents in private schools overseas. The age at which the dependent can enroll in an overseas private school varies according to the employee's payroll. Also, the Education Assistance Program covers the cost of a specified number of trips from a private school location to Saudi Arabia. These travel costs are also covered for eligible dependents that are attending college. |
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Specified Location
Allowance – Saudi
Aramco operates in various locations throughout Saudi Arabia. Should an
employee be assigned to a work location that the Company specifies as
a remote location, the employee will receive an allowance.
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| Overtime/Shift Premium – Should an employee be assigned
to a location or function that requires scheduled overtime
or non-standard work hours, additional compensation will
be paid on a monthly basis. |
Annual
Vacation – Based
on payroll and salary code, employees earn up to 38 calendar days vacation
each year in addition to an extra two to four ‘travel days’.
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Company
Holidays - In addition to annual vacation entitlements, employees are
typically granted between 9 and 11 days as paid holidays each year.
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Personal
Effects Shipment – The
Company pays for and arranges the shipment of personal effects from the
employee’s point of origin to Saudi Arabia, and returns them when
employment in Saudi Arabia is terminated.
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