Show me the money! Here are the professions paying double-digit rises
Workers hit in crisis getting double-digit rises
Published 25/06/2014 | 02:30
MORTGAGE advisers, tech specialists and skilled construction workers have seen their pay packets soar by double digits this year as supply outstrips demand.
The hike in salaries in some industries is part of a two-tier economy, which is widening for Ireland's workforce.
Experts warn of a growing gap between the unemployed and those in work whose positions are in demand after being hardest hit during the recession, like mortgage collectors and underwriters.
"The biggest challenge is that there is a big gap between the 'haves' and the 'have-nots'," said Peter Cosgrave, a director of Cpl recruitment.
"We are finding that some jobs are hugely in demand and salaries are going up, but at the same time there's a lot of areas where there's still very little employment.
"So there is a two-tier economy going on so when people hear salaries are on the rise they can't believe it as they can't even get a job at the moment. It just depends on the sector that you are in."
Jobs always follow trends, he said, and everything everybody is doing is linked to technology, including finance, healthcare, pharmaceuticals, science and the language sector, which are also big employers.
When 'Forbes' last year named Ireland as the best place to do business, it highlighted the 17pc drop in wages between 2008 and 2011 as a factor drawing inward investment.
However, the Cpl annual salary guide found modest wage rises may be on the cards for the majority of employees this year, including legal, marketing, HR, engineering, languages, and office support.
Some roles in banking, construction, science, tech and food retail management – all harshly hit in the recession – have shown double-digit increases.
The top salary band for a mortgage adviser has soared from 18pc to 36pc – up to €45,000 – over the last year, while the upper salary band level for a fund accounting supervisor has grown by 10pc to €55,000, and a credit underwriter can earn as much as €50,000, up 11pc.
Figures also reflect an upswing in commercial construction with design managers, mechanical and electrical coordinators and engineers, and building services engineers all having had rises of up to 18pc.
Pay to high-level supermarket managers jumped by a fifth, and certain science roles had double-digit salary increases in the last year, particularly in Dublin.
Anne Heraty, chief executive of Dublin-listed Cpl Resources, said after almost no salary increases in five years, firms were increasing wages and re-introducing performance-related bonuses to retain good staff.
"Ireland is still the location of choice for many of the largest multinationals and growing tech start-ups," she said.
"Our business-friendly approach is paying off and we continue to attract foreign direct investment from industries like pharmaceuticals, aviation, ICT and the funds industry.
"If we continue to adapt quickly to educate and train our people to develop the right skills we will maintain our edge in attracting the growth industries of the future."
Ms Heraty said Irish business confidence was also increasing, with more companies hiring permanent staff than in the last five years.
"To remain competitive, we must continue to train and produce the best people at the best price. Controlling salary inflation must be part of this strategy," she added.
The Cpl salary guide was compiled with information from 1,500 companies, across 15 sectors.