Many workers in Ireland can expect a rise in salary packages in 2023, according to a recruitment firm. Matrix Recruitment, which published its Salary Guide for the year ahead, found that salary bands are expected to expand by between €2,000 and €10,000 in a number of sectors.
The group said the anticipated increase has been prompted by a talent shortage compounded by inflation and the rising cost of living, which saw consumer prices increase by 8.9 per cent between November 2021 and November 2022.
The group also said the number of people in advertised hybrid or remote working grew by 34 per cent last year, and that this is expected to increase further in the year ahead.
Despite a predicted slowdown in GDP growth for Ireland in 2023, the financial sector is expected to remain buoyant, and recruitment will continue in this area in the year ahead.
Salary bands will remain predominately the same as 2022, with increases in certain areas where recruiting talent remains an issue.
Starting salaries for funds oversight officers are expected to rise by as much as 22 per cent in Dublin next year, according to the Matrix Recruitment 2023 Salary Guide. Regional salaries in this area are predicted to increase by around 25 per cent. Senior/lead fund accountants (private equity) can expect a salary increase of up to 21 per cent, particularly in regional areas.
However, some roles will see reductions in pay. Experienced compliance managers on the higher end of the pay scale, for example, are expected to see a 10-11 per cent decrease.
Demand for supply chain professionals has surged in the past few years. For jobseekers the supply chain sector offers “well-remunerated and stable work with plenty of opportunities for advancement”.
Experienced supply chain managers can expect a salary increase of up to 12 per cent, while the starting salary for skilled supply chain analysts in the Dublin region is predicted to increase by up to 43 per cent.
In manufacturing, workers can expect salary band increases of up to €5,000 across a wide number of roles and across all regions.