Recruiters.ie surveyed more than 1,000 professionals across various industries in Ireland as part of its 2020 Salary Predictions Guide.
Visit: recruiters.ie/salary-guide-2020/ for more information.
According to the Recruiters.ie 2020 Business Outlook Survey, only 6% of respondents believe there will be no salary increases in their business in 2020. At a department level, 89% of IT respondents expect salary increases within their department, while almost two-thirds (65%) of accounting and finance professionals expect an increase on their base salary.
This optimism is echoed in the Recruiters.ie 2020 Salary Predictions Guide, which shows that, even with the threat of Brexit, salaries across Ireland are set to improve, with a particularly sharp increase in high tech and software engineering roles.
“There has been great uncertainty surrounding Brexit for more than three years now and the markets do not respond well to uncertainty,” said Brian McFadden, client services director at Recruiters.ie. “However, from our view of the market in Ireland, demand for talent remains strong and is driven by growth within Ireland’s export-led economy.”
Software engineering professionals could enjoy salary increases as high as 12% in 2020, not only due to the ever-increasing demand, but also due to the growing trend of software engineers moving into the contracting space, leaving an even larger talent gap in the permanent market.
In fact, in America, there is a software development and programming jobs shortfall of 472,000 and in Ireland, the information and communications technology (ICT) sector is predicted to need more than 70,000 new workers in the next five years.
Meanwhile, despite Brexit potentially having a major impact on the financial sector, accounting and finance professionals could be looking at an average base salary increase of 6.5%.
“Britain’s departure from the EU will lead to an extremely high demand, not just for workers in banking and financial institutions, but also for regulatory professionals as risk and compliance continue to be of paramount importance,” said McFadden.
Based on the Recruiters.ie 2020 Business Outlook Survey results, 85% of sales professionals expect salaries in their department to remain the same. However, according to the 2020 Salary Predictions Guide, sales professionals can also expect to see a moderate salary increase, though not as high as IT and finance.
“Based on our industry knowledge, we believe this could result in more job creation in this area,” said McFadden. “In fact, we predict base salaries in sales to increase by approximately 7% because, as sales continues to evolve, the demand for varying experience becomes more important and means a well-rounded candidate can command a more lucrative salary.”