Business Irish

Tuesday 25 June 2019

Vast majority of companies plan pay rise

Donal O’Brien, managing director, Abrivia Recruitment. Photo: Peter Houlihan.
Donal O’Brien, managing director, Abrivia Recruitment. Photo: Peter Houlihan.

Michael Cogley

Nine in 10 employers intend to give their employees a salary increase of up to 5pc this year, a new study has found.

Around 78pc of businesses will pay a bonus in 2019, mainly as a reward for staff effort, according to the Abrivia Trinity College Dublin Salary Survey.

The study of more than 1,200 employees and 260 companies also found that work-life balance and interesting work have become more important to staff than pay satisfaction. Abrivia Recruitment managing director Donal O'Brien said that there has been a marked improvement in the number of people in permanent positions over the last number of years.

He warned that Dublin appeared to be "losing its charm", with most employees willing to take a pay cut in exchange for a job outside of the capital.

"Almost half are willing to take a pay cut of up to 10pc in their salary, with almost a tenth willing to take a further drop," he said. "On the flip-side, more than half said they would need a pay increase of more than 20pc to move to the capital and almost a fifth flatly refused to consider a move at all."

Trinity assistant professor Dr Charles Larkin, who provided commentary and analysis for the study, said the stress placed on the economy had predominantly been from the economics of political turbulence from Washington, Brussels and Dublin.

"What's also becoming evident is that the idea of 'the British are coming' has been a myth, there has been no mass relocation of legal and financial services," he said. "The advantages afforded Ireland as the last English-speaking country and common law country are overblown. It is time for the Taoiseach to begin the process of ensuring that this country is supported during and after a hard Brexit."

The study found that workers had experienced sizeable rent rises and that 29pc of their income went towards paying it.

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