Tuesday 12 November 2019

Graduates here can expect pay to start at €31,000

 

Graduating with a master’s degree without any work experience can led to average pay of €34,340 here. Stock Image: PA
Graduating with a master’s degree without any work experience can led to average pay of €34,340 here. Stock Image: PA
Ellie Donnelly

Ellie Donnelly

Ireland ranks 13th out of 23 European countries when it comes to pay levels for graduates with a bachelor's degree.

Those leaving college here can expect to earn around €31,075, just over a quarter more than the average salary of someone who finishes their education after secondary school.

The figures come in a report from insurance and consulting group Willis Towers Watson.

It comes at a time of full employment and increasing pressures on employers to attract and retain staff.

Some firms are looking at other forms of compensation such as gym membership and dental and health benefits in order to recruit graduates.

There is also some variation among types of degree and the average maximum pay of graduates.

Jobs in engineering, IT and law tend to pay the most, while those in marketing, customer service and administration pay the least, according to the report.

The difference between the best and lowest paid roles can be significant, with the best positions paying around 30pc more.

April McDonnell, compensation and benefits survey lead at Willis Towers Watson, said the "buoyant" jobs market and demand for the right skills means there is "strong competition" for graduates this year.

"While taking a degree can be a big financial commitment, there is a clear return on that investment," she said.

Meanwhile, graduating with a master's degree without any work experience can led to average pay of €34,340 here.

People who leave college with a Masters of Business Administration (MBA) can expect to earn €35,547, while those with a doctorate typically start on a salary of €38,786.

Elsewhere, graduates in Switzerland are at the top end of the scale on an average salary of €73,370, while those in Romania typically earn the least, with starting wages of €11,694 a year.

In the UK, people leaving college earning slightly more than those in Ireland, with average salaries of €32,437.

Irish Independent

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