The Morgan McKinley 2018 Salary Guide for expected salaries and contract rates for professional roles in Cork, Galway, Dublin, Limerick and Waterford.
Morgan McKinley has compiled this salary guide using salary data collected from 45,000 professional placements in Ireland over the course of 2017.
This guide has been delivered against the backdrop of being Ireland’s largest professional staffing company. Our widely published monthly Employment Monitor ensures we have “on the pulse” intelligence on current skills demands and gives us relevant and timely market insight from which we can forecast future talent requirements.
Economically Ireland is the fastest-growing economy in the Eurozone for the last four years with gross domestic product at 5%, up from a previous forecast of 3.7%. The unemployment rate of 6% is one of the lowest for several years.
Eurostat population figures show that Ireland’s figures have significant standout over our European neighbours. Our 1.1% population growth rate at present is nearly four times the current EU average of 0.3%. These figures enhances Ireland’s potential for growth with a strong pipeline of a future labour force being evidenced.
The OECD figures claim that Ireland has the second-highest percentage of graduates (43%) completing third-level education, behind the UK (44%) between the ages of 25 - 64-year olds. The infrastructure and framework to support this continued trend is imperative for a skilled future workforce.
We have the largest population growth since 2008 (CSO). Of 84,600 people who immigrated to Ireland in the year to April 2017, 30,800 (47.5%) were estimated to be Irish nationals. Many of these returning immigrants have returned more qualified than when they emigrated and are armed with multinational expertise. This returning workforce is helping meet the demand for top talent currently being experienced in Ireland.
Morgan McKinley’s Employment Monitor recorded our highest ever professional job numbers in March 2017 for several years at 10,400. With almost 19,000 jobs being created this year by IDA clients, Ireland’s ability to continue to attract, source and retain the talent to ensure we can meet the demands of companies who regard Ireland as an attractive location to establish their business has never been more important.
These positive trends coupled with pro-active partnership with state-agencies, universities and key business alliances can offer us some control on Ireland’s future direction.
Less in our control is the underlying threats including Brexit, the US administrations protectionist stance on world trade and the vulnerability of the European banks.
So back to what we can control and forecast. Morgan McKinley along with many of our valued clients are now more aware than ever of the shift towards decision making based on sound data analytics.
Our talent solutions business, M3S, is the fastest-growing global brand in the Morgan McKinley Group offering bespoke recruitment solutions to companies including talent pooling, tailored graduate programs, managed services provision (MSP), recruitment process outsourcing (RPO) and statement of works (SOW). All of these services rely on high quality data analytics to enable businesses to make more commercial sourcing decision and choices for their future talent needs.
The data analytics and digital age is aligning well with one of the key topics for all businesses in 2017, with the impending deadline in May 2018 for the GDPR compliance legislation to come into effect.
Despite the scaremongering of sizeable financial penalties and reputational damage to businesses, the GDPR looming timeline is forcing organisations to review how they manage, process and control all personal data within their various business units. Given the fact that many businesses have been required to operate best practice and be compliant with all of their data to date, this EU legislation may only encourage organisations to create a more customer centric and considered view of the data they hold and how they use it.
It does however create a very real future skills demand, where privacy and compliance professionals with an understanding of GDPR are already estimating a shortfall of 75,000 vacancies globally. Job titles such as DPO and PMOs with accredited knowledge in the privacy world are likely to command significantly inflated salaries and rates as organisations become GDPR compliant and create an ongoing culture of data integrity. We are delighted to announce our partnership with the International Association of Privacy Professionals (IAPP), the largest and most comprehensive global information privacy community. The aim of this partnership is to support and develop a community of qualified privacy professionals. For further information click here.
Across the spectrum of professional recruitment, Morgan McKinley have seen skill demands rise in most of the disciplines in which we specialise. Continued buoyancy in the sciences, the growth in the Irish food industry; financial services, aligned to Brexit and ICT, the powerhouse of the economy driven by a high demand for cloud computing, DevOps (or engineering) and digital talent will be where the biggest demand for talent will emerge.
Ireland – Dublin, Cork and the Regions
The bulk of professional high skills job demand and job creation through inward investment in 2016-17 remained in Dublin. With a population of 1.35 million people in the capital the notable change this year was the rise in the cost of talent, and the concerns from potential and existing employers regarding the availability and cost of infrastructure, property and education.
This has led to a more rounded picture in terms of numbers in the second half of 2017 with over 9,000 IDA client companies creating jobs in the regions and seeing job numbers grow in 20 of the 26 counties. This trend is set to continue as more investments are likely to rise in 2018 and employers and professionals choose locations outside of the capital given the reasons outlined above.
Within this revised and updated salary guide we have provided an insightful guide for companies and the professional job seeker to understand salary levels across industry, job title and tenure.
Finally, we would like to thank you for your continued support throughout our years in business. We welcome any feedback or question on our guide. Please do not hesitate to contact any member of our team for more detail. If you would like to find out more specific salary or hiring information please contact your local Morgan McKinley office today.