The Morgan McKinley Irish Salary & Benefits Guide – Ireland’s most comprehensive analysis of pay and benefits across a range of professions and sectors, anticipates that salary increases in the technology sector are likely to be in the region of 10% on average, rising to a 20% increase for more niche and in demand skill-sets.
Irish owned Morgan McKinley is a global professional recruitment and talent management company, connecting specialist talent with leading employers across multiple industries and disciplines. The annual salary guide published for Ireland today also provides an average outline of anticipated remuneration by sector, based on the most up to date figures and trends noted at the end of 2018.
Remuneration Tables can be found here. Detailed commentaries follow below including Salary Guide Highlights, Workplace and Hiring Trends
Ireland is one of the largest tech hubs in Europe. The ICT sector is thriving and growing as Ireland benefits not only from the presence of global tech giants, many of whom have established their EMEA operations in Ireland but also a robust and highly successful home-grown ICT sector.
With companies actively hiring, including multinationals, SME’s and start-ups, the ICT market will continue its phenomenal growth throughout 2019 with ongoing skills demand across all related disciplines. Continuing investment from large multinationals shows no sign of a slowdown with consequently high levels of opportunity and mobility within the industry.
· We have seen exponential growth in the number of permanent professionals vacancies in 2018 with a 21% year on year increase in the Dublin market alone, which is expected to continue rising into 2019.
· Roles including Project Manager, Business Analyst, Product Manager, Java and .Net Developer, Security, Systems Administrators and Network Engineers will continue to be in high demand this year.
· The market for AI/ Machine Learning professionals will take centre stage in 2019 as more employers seek to fill specialised roles in this area of growing importance.
· With the number of cyber-attacks on the rise globally, the threat that hackers and fraudsters pose to businesses is ever-increasing and there is an ongoing and growing demand for cybersecurity professionals.
· Data is one of the main focus areas of hiring, particularly following the enactment of GDPR, and demand for related IT, data analytics and related has continued to rise.
· There will be strong demand in the Financial Services and FinTech sectors as companies continue to move their operations to Ireland.
Overall, the technology sector is an industry driving disruptive change in the market through the development of new solutions and products which are set to have a positive impact on job creation.
Workplace & Hiring Trends 2019
Morgan McKinley also surveyed a number of Irish employers around hiring trends, talent attraction and retention, the impact Brexit is set to have on the Irish jobs market and the challenges associated with each of these. Some key findings included;
· 57% of employers believe there is a skills shortage amongst talent in Ireland
· 52% of employers describe the Irish employment market as ‘more attractive’ in light of Brexit
· ‘‘Lack of growth opportunities for employees’ (e.g., Training, Development, Career Pathway) is cited by employers as the number one reason for employee attrition.
· 60% of professionals think that they are not paid adequately
· 30% of professionals believe their company’s bonus offering is worse than their competitors
· 53% of professionals are expecting a salary increase in 2019
Chief Operations Officer with Morgan McKinley Ireland, Ger Fitzgerald said:
‘’2018 was a very successful year economically for the Irish tech market. The first quarter of 2019 already sees many new roles in the pipeline and plenty of potential growth. Ireland is still viewed as the destination of choice for many expanding US entities as well as our own indigenous tech sector which has continued on a strong growth curve.
“Organisational and digital transformation is driving demand across a number of sectors and particularly in the services arena. We expect to see this trend continuing with ongoing requirements for people skilled in leading and organising change and technology projects.
“Interestingly, technology is also driving developments in HR and recruitment where there is a considerable drive to integrate AI and machine learning into the actual search for talent. This could significantly speed up recruitment processes while also making them more effective at the initial selection stages prior to onward interviews and job offers. AI has received significant investment and it is expected that Digital and AI driven platforms will be more prevalent in 2019.
“Brexit is a key issue for the overall economy but it has not yet had a major impact on Ireland’s technology market which continues to thrive and is definitely an attractive location for professionals. We expect that the effect of Brexit on the technology sector will be far less damaging than for other sectors and firmly believe that Ireland’s talent base and supportive infrastructure will remain very attractive to inward investment.”