Salaries rose 5% across a range of sectors in past year
Recruitment company Brightwater has published its annual salary survey
Executive salaries increased by up to 24 per cent at senior level in sectors such as legal, accounting and finance. Photograph: iStock
Irish salaries increased about 5 per cent across finance, HR, sales, marketing, engineering, supply chain, IT, legal and accountancy sectors over the past year, a new survey has suggested.
Recruitment company Brightwater said the Irish jobs market was “in the midst of an evolution as it reacts to and predicts further changes in technology, politics and the economy”.
The annual salary survey – carried out in August and September – shows engineering continued its upward trajectory with an average 8 per cent increase on salaries across the sector.
Executive salaries increased by up to 24 per cent at senior level in sectors such as legal, accounting and finance. Executives include all C-suite roles and all heads of functions, such as chief financial officers, chief marketing officers and chief executives.
The top level salary for an equity partner in the legal sector increased from €250,000 to €310,000 over the year. The average partner’s salary in the sector went up 10 per cent to €220,000.
Elsewhere chief information security officers in the tech sector saw their salary increase 5 per cent to €135,000, while in engineering a project director’s salary rose 8 per cent to €135,000.
Brightwater said the lack of skilled workers in the construction sector – particularly among quantity surveyors and project managers – as well as competition to retain Irish engineers was driving salaries up.
In recruitment terms, Brightwater saw a 12 per cent increase in the number of roles it registered in the first eight months of 2018 compared with a year earlier, with positions split between management and experienced engineering posts.
Cyber security and Brexit were described as “two key drivers” in response to a “growing demand” for online security specialists following the adoption of the EU’s GDPR rules, which came into effect in May.
Brightwater said financial packages were not the only draw for candidates as benefits continue to play a key part in the attraction and retention of staff.
“Companies are now more aware of their competitors’ offerings and are being forced to become more innovative in their remuneration and benefits packages,” it said.
“Pensions, private healthcare, free on-site breakfasts, workplace gyms, free fruit and yoga sessions are just some of the popular perks being used to attract the best candidates.
“Flexible ways of working are top of the agenda for both employers and job-seekers and are very important in an ever-changing and diverse workforce, particularly for those in commuter towns and cities and employees with young families.”