We consider several preconditioners for the pressure Schur complement of the discrete steady Oseen problem. Two of the preconditioners are well known from the literature and the other is new. Supplemented with an appropriate approximate solve for an auxiliary velocity subproblem these approaches give rise to a family of the block preconditioners for the matrix of the discrete Oseen system. In the paper we critically review possible advantages and difficulties of using various Schur complement preconditioners. We recall existing eigenvalue bounds for preconditioned Schur complement and prove such with the newly proposed preconditioner. These bounds hold both for LBB stable and stabilized finite elements. Results of numerical experiments for several model 2D and 3D problems are presented. In experiments we use LBB stable finite element methods on uniform triangular and tetrahedral meshes. One particular conclusion is that in spite of essential improvement in comparison with /simple`` scaled mass-matrix preconditioners in certain cases, none of the considered approaches provides satisfactory convergence rates in the case of small viscosity coe±cients and sufficiently complex (e.g., circulating) advection vector field. Key words. Oseen equations, saddle-point problems, finite elements, iterative methods, preconditioning, pressure Schur complement, Navier{Stokes equations AMS subject classifications.