CEOs cash in on talent war as public sector bosses lose out
Private sector bosses are benefiting from an escalating war for talent as boards fork out increasingly hefty salaries to secure top-notch executives.
The increasing competition has widened the wage gap over the public sector where organisational leaders are paid far less than their corporate counterparts, according to a new survey by Ardlinn, the c-suite executive search company, which is part of the Cpl Group .
The reports shows that private sector CEO salaries are set at €150,000-€500,000 compared to €140,000-€180,000 for equivalent public sector roles. Wages in the upper echelons of privately owned companies have soared by 25pc as the economic recovery causes a race for talent, according to Ardlinn. However Áine Brolly, the firm's founder stressed Ireland's tax structure continues to deter high-level candidates.
She claimed the steep income tax rates, and the recent limited tax changes for share-based remuneration incentive schemes, has resulted in many companies losing high-quality candidates to overseas competitors. "We need to ensure our tax system is appealing, investment in infrastructure is increased and our positive lifestyle is promoted so Irish companies can attract top executive talent in 2018," said Ms Brolly.