Business Irish

Friday 2 December 2016

Number of IDA executives who are paid over €100k falls to 11

Gordon Deegan

Published 09/02/2016 | 02:30

IDA chief executive Martin Shanahan’s post carries a salary of €168,210
IDA chief executive Martin Shanahan’s post carries a salary of €168,210

The number of high-fliers at the IDA earning over €100,000 fell by 21pc to 11 last yera.

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New figures released by the IDA in response to a Freedom of Information request show that the agency today employs two staff earning between €150,000 and €200,000 with an additional nine earning between €100,000 and €150,000.

This compares to two earning between €150,000 and €200,000 and 12 earning between €100,000 and €150,000 in 2014.

However, the number earning over €100,000 at its sister enterprise agency, Enterprise Ireland, remained static at 18 last year.

A breakdown of the 2015 IDA figures shows that the two top earners receiving between €150,000 and €200,000 are based in Ireland.

IDA chief executive Martin Shanahan is one of those as the IDA boss's post carries a salary of €168,210 a year.

In addition, there are six other staff members in Ireland earning between €100,000 and €150,000 with a further three staff earning between €100,000 and €150,000 who are based overseas.

The IDA operates a network of overseas offices based in Paris, London, Frankfurt, Moscow, New York, Atlanta, Boston, Austin, Chicago and Mountainview and Irvine in California along with offices in Sao Paulo, Sydney, Shanghai, Shenzen, Beijing, Seoul, Mumbai, Singapore, Bangalore and Tokyo.

The 11 staff occupy leadership roles in the organisation that last year oversaw the highest level of employment in IDA client companies - 187,056 -in the organisation's 67-year history.

The agency has no role in setting its pay rates - instead they are aligned to pay scales used across the public service generally.

The IDA's FOI unit declined to state at which overseas locations the high earners are based. It said that the release of information highlighting salaries paid in differing overseas locations would be damaging to the IDA's competitive position "by revealing to other worldwide development agencies where the IDA its positioning senior staff which would highlight which specific geographies the IDA is targeting.

"This in turn would impact on the level of Foreign Direct Investment (FDI) IDA attracts into Ireland."

The FOI unit also said there is also a public interest in the IDA being able to maintain the confidentiality of its negotiations with staff in order to achieve the best value for public funds.

Separately, in response to an FOI request, Enterprise Ireland confirmed that the number of its staff earning over €100,000 remained static last year at 18.

One worker earns between €150,000 and €200,000 while 17 are paid between €100,000 and €150,000.

Julie Sinnamon is chief executive of Enterprise Ireland and the organisation's latest annual report confirms that her post carries a salary of €157,497.

Ms Sinnamon presided over the highest level of job creation in the agency's history last year with 21,118 new jobs created - 192,223 of them in place at the year's end.

Irish Independent

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