2. CONTENTS.
CHIEF OPERATIONS OFFICER‘S LETTER 2 INFORMATION TECHNOLOGY 29 LEGAL 43
KEY SURVEY FINDINGS 3 INTRODUCTION 30 PRIVATE PRACTICE & IN HOUSE 44
PERMANENT 31
ACCOUNTANCY & FINANCE 6 CONTRACT 33 LA CRÈME 45
INTRODUCTION 7 INTRODUCTION 47
COMMERCE & INDUSTRY 8 TEMPORARY 48
SHARED SERVICES 13 TECHNICAL 35 PERMANENT 49
TEMPS & INTERIM MANAGEMENT 15 INTRODUCTION 36 MULTILINGUAL 51
LIFE SCIENCES 37
FINANCIAL SERVICES 17 ENGINEERING 40 METHODOLOGY 52
INTRODUCTION 18 SUPPLY CHAIN & OPERATIONS 41 CONTACT US 54
FINANCIAL ACCOUNTING & CAPITAL MARKETS 19 ENERGY & CONSTRUCTION 42
STOCK BROKING & BANKING 20
BANKING & MORTGAGES 21
INSURANCE 22
FUND ADMINISTRATION 24
TAX & PRACTICE 26
TEMPS & INTERIM MANAGEMENT 27
1
3. CHIEF
OPERATIONS
Slightly more than a quarter (25.7%) of
OFFICER’S managers expect to see salaries rise this year.
While over half (63.6%) of managers anticipate
Welcome to that salaries will stay the same in 2011, only
LETTER. Morgan McKinley’s 10.7% expect salaries to decrease. These
findings reflect the consistently challenging
2011 Salary Guide business environment that Irish companies
continue to face.
Since the publication of our mid-year 2010 Salary Combined with these results are cautiously
Guide, the market has continued to experience very optimistic signs of growth and an emergence
uncertain and challenging conditions with some of specialist and niche skills in certain sectors.
exceptions in niche areas and specialisations. These indicators are also creating an increased
recognition in the market of difficulties in
To provide a clearer insight for job seekers and professional talent acquisition and retention.
employers, we conducted a national telephone This may be a factor in the modest salary
survey in November 2010 of over 700 operational increases predicted by 25.7% of managers
managers nationally across financial services, across a variety of sectors nationally. Overall,
accountancy & finance, technical, IT and office the trends and expectations for this year
support to gain an insight into hiring trends within continue to be cautious and modest but more
their companies. optimistic than the last couple of years.
The results of this survey have been combined For any specific questions or areas of interest
with insight from our specialist consultants across regarding salary information or specific skill sets,
our office network. The guide provides data and please feel free to contact me or any of my
commentary on the extent to which salaries and colleagues here at Morgan McKinley for further
bonus payments have been impacted by market information.
conditions, as well as likely recruitment trends over
the next 12 months. Finally, I would like to reiterate our continued
appreciation of your support and look forward
Over the course of 2010, we saw increased hiring to working with you in the future.
activity compared to 2009, although it remains at
a relatively suppressed level in many businesses We hope you find this salary guide informative
across the country. However, the survey results and we welcome any feedback you may have.
reveal some interesting facts.
Karen O’Flaherty
Despite the ongoing economic difficulties, Chief Operations Officer | Ireland
an encouraging 42.8% of managers expect to T: +353 1 432 1555
increase headcount this year – a promising E: koflaherty@morganmckinley.ie
indicator of business growth.
2
4. KEY SURVEY FINDINGS.
Q Do you expect salaries
in your organisation to increase in 2011?
3
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5. KEY SURVEY FINDINGS.
Q Does your organisation
have hiring plans for 2011?
Plans not yet decided
4
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6. KEY SURVEY FINDINGS.
Q By what percentage of your current headcount do you
expect to see staff numbers increase?
% INCREASE
HEADCOUNT
% OF RESPONSES
5
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8. ACCOUNTANCY & FINANCE.
INTRODUCTION
The outlook for the accountancy & finance We see this as a positive sign that employers
jobs market in 2011 is generally upbeat, have the confidence to hire permanent staff
with our salary survey indicating that instead of short term / medium term contract
respondents have expectations for an or temporary employees.
improved economic outlook in the coming
year. Overall, 2010 was a positive year for
recruitment in the accountancy and finance
Financial services and multinational market, although it was dominated by
companies were the dominant employers positions within multinational businesses.
during 2010, with small and medium sized While this was the case, hiring activity within
companies experiencing well documented SMEs in the second half of 2010 is a positive
liquidity issues and struggling to make indicator when looking ahead to the rest of
confident, strategic hiring decisions. SMEs 2011.
have therefore become a minority in the
recruiting pool. Companies remain challenged in attracting
suitable candidates and will take their time to
Generally, the flow of job opportunities was secure the right fit.
not consistent and the pace of the
recruitment process varied considerably, The results of our salary survey, combined
resulting in a cautious hiring market at with our insights from working closely with
times. businesses across the accountancy and
finance market, show that confidence is
The balance of temporary and permanent slowly returning when making hiring
positions available in the jobs market varied decisions and we believe 2011 will be a
throughout the last twelve months. Demand growth market after successive years of
was greater for temporary staff in the first retrenchment.
half of the year and greater for permanent
employees in the second half.
7
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9. ACCOUNTANCY & FINANCE.
COMMERCE & INDUSTRY (Small Companies <100 employees)
Small companies in Ireland were the most Dublin Dublin Cork Cork Regions Regions
significantly hit in the jobs market in 2010. In Low €K High €K Low €K High €K Low €K High €K
particular, lack of credit and liquidity affected
small companies’ ability to make strategic, Financial Director 65 85 65 85 n/a n/a
commercial decisions to grow and hire.
Financial Controller 55 65 50 65 45 58
Businesses directly involved in construction, Finance Manager 50 60 48 60 40 55
property development and related areas saw a Management Accountant 45 55 45 50 38 45
substantial reduction in headcount, with some
Financial Accountant 40 45 40 45 32 36
larger building contractors closing their doors in
recent months. The domino effect on symbiotic Systems / Project Accountant 45 55 45 55 34 38
businesses, such as material suppliers and Assistant Management Accountant 35 40 30 35 30 34
engineering contractors through to local
Assistant Financial Accountant 32 40 30 34 26 30
businesses, has been very disruptive, with cash
flow and customer bases shrinking substantially. Assistant Financial Controller 45 55 43 53 38 44
Newly Qualified Accountant 35 45 32 40 24 31
Many smaller companies have had to change
Tax Accountant 45 55 42 48 33 38
their business models, often resulting in pay cuts
and redundancies. General cost cutting and Trainee Accountant (P/Q 2+yrs) 28 32 24 28 20 24
financial prudence has meant the vast majority Trainee Accountant (1-2yrs) 24 28 20 24 18 22
of finance staff in small firms have had salaries
Credit Controller 26 30 24 30 21 24
either frozen or cut, while other businesses have
sought new opportunities overseas or Payroll Clerk 26 30 25 30 22 26
broadened their product or service portfolio. Accounts Supervisor 30 35 28 31 24 30
Accounts Payable Clerk 24 28 22 25 18 22
The number of job opportunities that arose in
smaller companies was consistent with a Accounts Receivable Clerk 24 28 22 25 18 22
subsequent downward pressure on salaries due Accounts Assistant 25 28 24 27 20 24
to oversupply and some salaries dropping
between 10% and 30%. Book Keeper 28 33 22 28 20 26
Graduate / Trainee Accountant 22 25 18 22 16 20
8
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10. ACCOUNTANCY & FINANCE.
COMMERCE & INDUSTRY (Medium Companies 100 – 500 employees)
Recruitment within medium sized businesses Dublin Dublin Cork Cork Regions Regions
remained more stable than in some smaller
Low €K High €K Low €K High €K Low €K High €K
companies throughout 2010.
Financial Director 75 130 75 110 70 100
While there was little requirement for increased
Financial Controller 70 90 70 90 50 60
headcount, we saw far fewer redundancies,
excluding the construction and property related Finance Manager 60 80 55 68 46 55
sectors. Management Accountant 50 65 48 55 41 53
Financial Accountant 50 60 45 54 40 45
Hiring activity within medium sized businesses in
Ireland remained relatively sluggish, partly due Systems / Project Accountant 50 65 50 62 43 57
to many professionals preferring to stay in their Treasury Accountant 45 55 44 53 43 53
current roles rather than risk changing jobs. As a
Business / Financial Analyst 50 60 45 55 40 53
result, salaries have remained relatively
stagnant with only a slight downward trend in Internal Auditor 45 60 45 48 40 44
overall compensation. In Dublin any downward Assistant Management Accountant 35 40 32 35 30 36
pressure is typically due to a reduced bonus
payment rather than a reduction in basic salary. Assistant Financial Accountant 32 40 30 40 28 35
Assistant Financial Controller 50 65 48 56 38 48
In Cork and the regional job markets we have Tax Accountant 45 58 45 58 40 46
seen pressure on both salaries and benefits
packages. Interestingly, professionals have
absorbed these decreases rather than looking
elsewhere.
While overall trends throughout 2010 indicate a
reasonably stable market, we predict increased
activity as confidence among professionals
returns, encouraging them to seek a career
change.
9
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12. ACCOUNTANCY & FINANCE.
COMMERCE & INDUSTRY (Large Companies 500+ employees)
Overall, multinational companies offered Dublin Dublin Cork Cork Regions Regions
the most new job opportunities over the
Low €K High €K Low €K High €K Low €K High €K
past 12 months. These and the larger Irish-
owned businesses displayed the strongest
Financial Director 120 150 105 140 80 110
growth patterns. In particular, companies in
the food, FMCG and technology space, as Financial Controller 80 110 80 110 68 85
well as shared service providers and Finance Manager 65 75 65 72 52 68
businesses that are not solely dependent
Management Accountant 60 70 55 65 50 60
on the Irish consumer for revenue,
remained the most consistent source of Financial Accountant 50 60 50 60 45 55
new job opportunities in the market for Systems / Project Accountant 55 65 55 65 47 55
2010.
Treasury Accountant 50 60 48 58 48 58
Some of these employers found it Business Financial Analyst 55 65 50 60 45 55
challenging to attract the right type of Internal Auditor 50 65 48 63 40 50
candidates through 2010. Hiring
Assistant Management Accountant 35 45 30 43 30 35
requirements from larger businesses were
more stringent than in the past, resulting in Assistant Financial Accountant 32 40 28 38 30 35
them not hiring from the pool of Assistant Financial Controller 65 80 65 80 37 44
professionals from SMEs flooding into the
Cost Accountant 55 60 48 58 48 58
market, and instead attempting to attract
people from businesses of a similar size
and market sector.
11
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13. ACCOUNTANCY & FINANCE.
COMMERCE & INDUSTRY (Large Companies 500+ employees cont’d)
Salary levels in 2010 remained relatively Dublin Dublin Cork Cork Regions Regions
stable and in some cases increased,
particularly for commercially focused Low €K High €K Low €K High €K Low €K High €K
positions where there was even a 5-10%
Tax Accountant 45 60 45 55 42 52
growth on basic salaries compared to 2009.
Newly Qualified Accountant 40 50 38 48 38 43
In general, many multinationals and large Trainee Accountant (P/Q 2+yrs) 28 32 28 32 22 27
Irish businesses have been actively
Trainee Accountant (1-2yrs) 25 28 25 28 21 23
recruiting, which has solidified salaries and
in some cases created upward pressure for Credit Control Manager 45 55 45 55 35 43
key skill sets. Salaries in manufacturing Credit Controller (1–3yrs) 28 33 24 30 24 30
businesses continue to come under
Payroll Manager 45 55 45 55 34 43
greatest scrutiny, as they attempt to
manage their cost base. Payroll Clerk 27 36 26 36 24 31
Accounts Supervisor 35 40 34 40 30 35
The outlook for recruitment within larger
Accounts Payable Clerk 26 32 25 30 24 28
companies remains positive, with an
increase in headcount expected for many Accounts Receivable Clerk 26 30 25 30 24 27
companies in 2011. However, with a Accounts Assistant 26 32 23 30 24 29
limited candidate pool for very specific
Graduate / Trainee Accountant 22 26 20 24 21 22
roles, larger businesses will continue to find
it challenging to attract the right talent for
new opportunities.
12
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14. ACCOUNTANCY & FINANCE.
SHARED SERVICES
As a shared service location, Ireland has Shared Services Dublin Dublin Cork Cork Regions Regions
attracted some of the best global companies
Low €K High €K Low €K High €K Low €K High €K
over the past 20 years. These tend to be
centralised departments in one location that
Director SSC 100 150 100 140 85 120
perform a range of functions, including
finance, accounting, customer services,
technical support and order management.
General Ledger Dublin Dublin Cork Cork Regions Regions
Ireland remains a favoured shared services Low €K High €K Low €K High €K Low €K High €K
location for multinational organisations,
offering an educated, skilled workforce which Manager 80 120 75 100 75 90
continues to attract businesses looking for Team Leader 60 85 62 75 45 62
finance and IT staff. Specialist 50 60 50 60 43 53
Salaries have remained stable and are among Analyst 40 50 40 50 38 48
the highest for professionals in the accounting Fixed Assets Analyst 35 45 35 42 30 40
and customer service sector in Dublin.
Shared services also continues to be an Accounts Payable Dublin Dublin Cork Cork Regions Regions
important part of the Cork jobs market.
Low €K High €K Low €K High €K Low €K High €K
Salaries have been less vulnerable than in
other sectors, although the annual inflation in Manager 55 75 55 75 38 50
salaries seen in 2008 is now more
conservative. Senior general accounting Team Leader 45 50 43 50 32 45
managers and treasury, tax and accounts Analyst / Specialist / Assistant TL 32 38 32 38 23 32
receivable professionals have all been in high Associate 30 32 25 30 21 26
demand, and salaries in these disciplines
have accordingly seen a marginal increase. Process Support 23 29 23 26 18 24
13
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15. ACCOUNTANCY & FINANCE.
SHARED SERVICES (cont’d)
Accounts Receivable Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Manager 55 75 55 75 47 55
Team Leader 45 50 43 50 33 43
Analyst / Specialist / Assistant TL 36 38 32 38 25 31
Associate 30 32 25 30 20 26
Inter company Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Team Leader 42 52 42 52 40 50
Analyst / Specialist / Assistant TL 36 38 30 35 24 35
Associate 30 32 25 30 21 26
Tax Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Manager 50 75 48 75 48 58
Specialist 45 55 45 55 40 43
14
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16. ACCOUNTANCY & FINANCE.
TEMPS & INTERIM MANAGEMENT
Demand for temporary and interim staff Dublin Dublin Cork Cork Regions Regions
over the past year was mainly from
Low P/H High P/H Low P/H High P/H Low P/H High P/H
multinationals and international
organisations across all levels. However, Interim Manager / Financial Director 48 55 45 50 40 50
there was also some movement in hiring Financial Controller 31 36 30 35 29 35
activity within SMEs, although this does
remain restricted. Financial Accountant 24 27 20 25 19 24
Systems Accountant 28 32 26 30 22 28
We expect to see a continued increase in VAT Accountant 22 28 20 25 20 25
demand for temporary staff within funds, Project Accountant 25 28 24 28 23 25
general accounting, financial reporting,
treasury and compliance departments. Cost Accountant 28 30 26 28 23 27
However, the supply of roles for senior Management Accountant 24 30 24 30 23 27
level finance candidates remains limited. Internal Auditor 25 30 25 30 25 28
Newly Qualified Accountant 20 23 18 22 19 22
Temporary and interim staff rates of pay
have seen downward pressure from Part Qualified Accountant 15 18 14 18 13 16
previous years. Moving into 2011, it is Financial Analyst 20 27 19 25 19 24
expected that multinationals, including Assistant Accountant 15 19 14 19 13 16
technology, manufacturing, shared service
centres and indeed banks, will continue to
find it easier to gain sign-off for contract
staff rather than permanent headcount.
This shift is likely to result in pay rates
remaining stable or rising slightly in the
short term.
15
Visit morganmckinley.ie or call 1850 840 000 *Figures supplied are hourly candidate rates
17. ACCOUNTANCY & FINANCE.
TEMPS & INTERIM MANAGEMENT (cont’d)
Companies recruiting for temporary and Dublin Dublin Cork Cork Regions Regions
interim employees continue to recruit
Low P/H High P/H Low P/H High P/H Low P/H High P/H
professionals with specific experience so
they require little induction or training and Credit Analyst 17 30 16 20 n/a n/a
add value immediately.
Credit Controller 14 17 12 15 12 14
Included in these requirements is Accounts Assistant 15 16 14 16 12 15
experience of having worked in similar Accounts Clerk 11 14 10 14 10 12
sized companies with similar cultures.
Bank Reconciliations Clerk 10 12 10 12 12 15
Book Keeper 15 18 14 16 12 15
Collections 14 17 12 16 11 14
Loans Administrator 13 18 11 15 n/a n/a
Payroll Senior 16 18 15 18 13 15
Payroll Junior 12 13 10 12 11 13
Shareholder Services Administrator 14 18 12 16 13 15
Accounts Payable Assistant 12 16 10 15 11 13
Accounts Receivable Assistant 12 16 10 15 11 13
Billings Administrator 12 12 n/a n/a 11 13
16
Visit morganmckinley.ie or call 1850 840 000 *Figures supplied are hourly candidate rates
19. FINANCIAL SERVICES.
INTRODUCTION
The last 12 months saw two very different As a consequence of the continued turmoil in
banking landscapes and trading the domestic banking market, international
environments. Many of the international institutions will continue to gain competitive
banks lifted their 12-18 month hiring advantage in Ireland, enabling them to attract
freezes across their Irish operations early top calibre professionals eager for new
in 2010. Domestic banks, on the other hand, opportunities in profitable, stable organisations.
only recruited where absolutely necessary
and where specific skill sets were in short From a temporary hiring perspective, contract
supply. assignments continue to be the favoured option
for many employers in financial services, as
The most sought after professionals were with other industry sectors in Ireland.
‘big four’ accountants, internal auditors,
compliance specialists, regulatory Over the past year, the length of contracts for
accounting specialists, and those specified time periods has been extended as
with corporate debt recovery and work loads continue to mount while longer term
restructuring experience. visibility for financial institutions remains limited.
Areas that remained most buoyant Temporary and contract employment pay rates
throughout the year in terms of increased are set to remain reasonably static in 2011,
headcount were treasury, capital markets, with specific skill sets attracting an additional
funds, and general insurance. Little premium.
slowdown is expected across these
markets into 2011. Salary increases in
2010 were negligible and moderate rises
were coupled with the reappearance
of bonus payments predicted for the
coming year.
18
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20. FINANCIAL SERVICES.
FINANCIAL CONTROL & F/S ACCOUNTING, TREASURY & CAPITAL MARKETS
Financial Control & F/S Accounting Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
For retail banking and private banking,
there was limited change in hiring activity Finance Director 100 160 90 120 80 100
in 2010 compared to 2009, although there Financial Controller 75 120 70 90 60 80
were significantly fewer redundancies than Product Controller 60 75 n/a n/a n/a n/a
previously. Internal Audit Manager 60 80 50 65 n/a n/a
Internal Auditor 40 60 40 50 n/a n/a
The bulk of hiring within the retail banking Treasury or Systems Accountant 45 60 40 60 n/a n/a
sector was for collections/arrears at the
Junior Treasury Accountant 35 45 25 35 n/a n/a
junior to mid level, as the banks deal with
Regulatory Accountant 55 70 45 60 43 48
the ever increasing challenge of mortgage
Senior Financial Analyst 55 65 50 60 50 55
delinquencies.
Financial Analyst (1-3 yrs) 45 55 40 50 40 45
The instability of the Irish banking sector Senior Financial / Group Accountant 65 75 50 65 45 53
landscape in 2011 makes it hard to predict Financial / Mgt Accountant (3yrs) 55 65 50 60 45 50
hiring activity over the next 12 months with Financial / Management Accountant 40 55 40 50 40 45
any certainty and the Irish Bankers’ PQ Assistant Accountant (2-3yrs) 28 35 26 35 24 33
Association is predicting headcount PQ Accounts Assistant (2-3yrs) 25 35 25 35 22 35
reductions over the coming months. PQ Accounts Assistant (1-2yrs) 23 35 23 30 22 26
Accounting Technician 23 30 23 26 20 24
As reflected in the pension fund, private Graduate 19 25 18 24 18 22
banking and stock broking markets,
salaries remained unchanged from 2009 Treasury & Capital Markets Dublin Dublin Cork Cork Regions Regions
and we are not foreseeing increases in Low €K High €K Low €K High €K Low €K High €K
2011. Institutional Sales 80 200 n/a n/a n/a n/a
Treasury Admin 25 45 25 40 22 30
Equity / Bond Settlements Admin 24 45 n/a n/a n/a n/a
Middle Office Specialist 28 45 28 40 n/a n/a
Payments / Verifications Officer 24 45 24 40 21 28
19
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21. FINANCIAL SERVICES.
STOCK BROKING & BANKING
Stock Broking Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Despite instability in the business and corporate
banking environment in 2010, it was a very
busy year of hiring within the banking sector. Institutional Sales 80 200 n/a n/a n/a n/a
Private Client Advisor 80 120 80 110 60 70
Recruitment in Irish domestic banks was Corporate Finance Executive 55 150 50 90 45 80
largely driven by banks under guarantee and
with loans transferring to NAMA. Equity Analyst 45 100 n/a n/a n/a n/a
Trader 45 100 n/a n/a n/a n/a
There was high demand for those with credit, Research Analyst 38 80 n/a n/a n/a n/a
restructuring and valuation expertise, as well
as increased hiring activity for business analysts Private Banking Dublin Dublin Cork Cork Regions Regions
and project managers focused on delivering
Low €K High €K Low €K High €K Low €K High €K
efficiencies and change programs.
Wealth Manager 50 80 50 80 40 55
These roles tended to be largely long term
Private Banking Manager 45 85 45 80 36 60
contracts due to hiring restrictions.
Private Banking Officer 30 45 30 45 26 36
The international banks, which were not Financial Portfolio Administrator 25 40 25 30 25 27
overexposed to the property sector, found
opportunity to increase market share where
domestic banks suffered from liquidity issues. Business Banking Dublin Dublin Cork Cork Regions Regions
International banks did the bulk of hiring on the Low €K High €K Low €K High €K Low €K High €K
origination side.
Lending Manager 65 95 60 90 55 80
Salaries predominantly remained stagnant, with Lending Officer 30 55 30 55 28 40
modest increases and bonuses only expected Relationship Manager 50 85 40 70 38 55
for those working in international banks.
Business Banking Manger 45 75 45 60 43 55
2011 will again be a difficult year to predict, partly Business Support Officer 25 40 25 31 23 30
due to possible mergers and acquisitions.
20
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23. FINANCIAL SERVICES.
INSURANCE
General Insurance Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
The general insurance market,
predominantly located in Dublin, saw
salaries remain static in 2010, although Operations Manager 65 90 55 75 42 65
job opportunities rose steadily despite Underwriting Manager 50 90 45 70 40 60
little movement of professionals throughout Personal Lines Manager 40 50 40 50 28 36
the sector. Personal Lines Team Leader 35 45 30 45 26 30
Personal Lines Underwriter 25 35 25 35 18 30
Of particular note was the rise in Personal Lines Administrator 20 30 20 28 20 24
confidence among the general brokers, with Commercial Account Executive 35 65 35 55 25 40
many seeking to improve their overall Commercial Underwriter 25 60 25 55 23 41
market share by hiring experienced account Commercial Account Handler 25 45 25 45 25 26
managers and new business developers to Claims Manager 50 80 35 55 30 52
drive the growth of commercial lines.
Claims Handler 25 50 20 34 21 34
Loss Adjuster 25 70 25 50 23 50
In contrast, the personal lines market
Insurance Clerk 20 25 20 25 18 24
contracted significantly, with greater
emphasis now being given to online
channels to market. Life Insurance Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
A tightening of premiums drove down
Operations Manager 55 100 50 75 45 70
salaries in some brokerage houses.
Pensions Manager 45 80 40 70 30 60
However, the vast majority of brokers
Pension Consultant 45 80 40 65 31 40
attempted to maintain their present
salaries in line with the maintenance Broker Consultant 40 70 35 55 25 35
of their market share. Sales Manager 50 90 50 70 35 60
Sales / Consultancy 30 65 25 60 25 30
2010 saw a rise in demand for commercial Pensions Administrator 24 55 20 35 20 28
underwriters, particularly on the business Life Administrator 22 40 20 30 20 28
development and managerial side. Claims Officer 24 40 20 30 20 25
Underwriting Manager 50 80 n/a n/a n/a n/a
Underwriter 25 60 22 35 20 30
22
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24. FINANCIAL SERVICES.
INSURANCE (cont’d) & ACTUARIAL
While salaries are generally conservative Reinsurance Dublin Dublin Captive Dublin Dublin
for underwriting roles, professionals who Low €K High €K Low €K High €K
can offer the extra dimension of driving
Reinsurance Underwriter 40 80 Captive Executive / Underwriter 30 60
future growth through broker channels
Reinsurance Claims 40 60 Captive Underwriting Manager 60 80
are highly sought after and rewarded
accordingly through bonus payments.
In keeping with previous years, the Actuarial Dublin Dublin Cork Cork
demand for actuaries remained Low €K High €K Low €K High €K
consistently high in 2010, with newly
Trainee Actuary (Graduate) 30 40 25 35
qualified actuaries commanding salaries
Part Qual (5 exams remaining) 50 60 40 55
from €70,000 upwards.
Near Qual (2 exams remaining) 60 75 55 70
An increasing awareness of the Newly Qual Actuary 70 80 70 80
importance of compliance as a result of Newly Qual Actuary (3yrs PQE)
90 120 90 110
EU and industry regulation has led to a 120 150 100 120
Actuarial Manager
spike in demand for compliance and risk 150 200 140 180
professionals at all levels. This is Chief Actuary
expected to continue throughout 2011,
with a parallel rise in salary expectations.
23
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25. FINANCIAL SERVICES.
FUND ADMINISTRATION
The fund administration jobs market Dublin Dublin Cork Cork Regions Regions
was much more positive in 2010 than
Low €K High €K Low €K High €K Low €K High €K
the previous year. Assets under
administration in Ireland grew to a record
Senior Fund Accountant 35 45 30 35 28 33
high of €1.8 trillion, up from €1.4 trillion
at the end of 2009. Fund Accounting Manager 60 80 45 60 40 55
Fund Accounting Supervisor 40 50 35 43 35 43
There was steady demand for transfer
Senior Fund Accounting Manager / Director 80 110 70 100 70 100
agency and fund accounting professionals,
with compliance officers and anti-money Fund Accountant 25 35 25 30 25 30
laundering (AML) specialists also sought Compliance Manager 60 90 50 70 45 68
after in the Dublin market.
Compliance Officer 35 55 30 50 30 45
The industry has continued to drive Custody Manager 50 65 38 50 38 41
improvements in operational efficiency, Custody Officer 30 40 28 32 28 30
resulting in increased demand for
Trustee Manager 50 70 38 55 38 41
business analysts, change managers
and project managers. Trustee Officer 30 40 24 33 24 30
Shareholder Services Manager 50 70 43 64 41 54
Although there were no significant
Shareholder Services Supervisor 35 45 30 40 30 40
changes to salaries in 2010, the general
market consensus is that 2011 will see Senior Shareholder Services Administrator 32 40 28 32 27 31
a more positive start to the year than 12 Shareholder Services Administrator 25 30 23 28 23 28
months ago, with moderate salary
increases and the potential for bonus
payments looking likely.
24
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26. FINANCIAL SERVICES.
FUND ADMINISTRATION (cont’d)
Throughout 2010 activity in the financial Dublin Dublin Cork Cork Regions Regions
services market in Cork was largely
Low €K High €K Low €K High €K Low €K High €K
driven by fund administration, with the
main players in this sector continuing to
Client Services Manager 50 70 40 60 36 48
recruit resources in response to increasing
business volumes. Client Services Officer 30 50 23 33 28 30
Research Analyst 30 50 n/a n/a n/a n/a
We saw a continued demand for
Fund / Portfolio Manager 60 90 39 60 n/a n/a
business and finance graduates for fund
administration roles to service a client base Business Development Manager 60 90 40 60 45 55
of international mutual and hedge funds. Risk Manager 60 90 40 60 n/a n/a
Risk Officer 35 55 25 35 n/a n/a
Those who already have experience in
this sector found their skills in demand in Business Analyst 40 60 40 55 n/a n/a
Cork in the last year. Project Manager 50 90 50 80 n/a n/a
Programme Manager 80 110 n/a n/a n/a n/a
Salary levels for 2010 within the fund
administration sector in Cork remained
largely consistent with recent years and
it is anticipated that they will remain stable
for the coming year.
25
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27. FINANCIAL SERVICES. General Practice Dublin Dublin Cork Cork Regions Regions
TAX & PRACTICE Low €K High €K Low €K High €K Low €K High €K
Audit Director 75 90 65 80 62 75
Audit Manager 55 65 50 58 48 56
The second half of 2010 saw a steady increase in the
number of new roles coming onto this area of the jobs Audit Assistant Manager 45 55 40 48 40 46
market. The outlook remains positive for the coming Audit Senior 37 42 30 37 30 36
12 months in the Dublin market. In particular, there Audit Semi Senior 25 35 20 24 20 23
has been a recent marked increase in corporate tax Audit Junior 21 24 18 20 18 20
hiring in practice firms. It is also likely that we will see Audit Trainee 21 24 16 20 16 20
growing demand for indirect tax, international Tax Director 75 95 70 85 70 85
corporate tax and transfer pricing experts within Tax Manager 55 65 40 50 40 50
financial services and multinational corporations. Tax Senior 37 42 30 38 30 38
Tax Trainee 21 24 15 18 15 18
Q4 2010 also saw a significant increase in job
opportunities in the accountancy practice market, Big 4 Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
particularly within the ‘big four’ and top 10
accountancy firms. Demand is for experienced Tax Director 95 120 80 100 80 100
professionals in audit, internal audit, risk advisory, Corporate Finance Manager 60 75 60 75 60 70
corporate recovery and business performance Tax Manager 55 65 55 65 55 65
departments.
Tax Supervisor 45 52 40 50 40 48
Tax Senior 39 45 35 43 35 42
However, while demand is increasing and the
candidate pool remains limited, salaries remain Tax Trainee 23 25 20 24 20 24
broadly the same across all departments at all levels. Audit Director 95 120 90 110 90 110
One exception is in the specialised area of corporate Audit Manager 60 80 60 80 60 70
recovery, where a shortage of managers has led to Audit Assistant Manager 45 52 45 50 45 50
increased salary levels for experienced hires. Audit Senior 39 45 37 45 37 43
Corporate Recovery / Insolvency Dublin Dublin Cork Cork Regions Regions
The Cork market has seen less hiring activity Low €K High €K Low €K High €K Low €K High €K
in accountancy practice. Senior managers and
insolvency specialists are most in demand but salaries Corporate Recovery Director 95 120 90 110 80 100
continue to be scrutinised, with only very modest Corporate Recovery Manager 60 70 60 70 60 70
premiums being paid. SMEs have used the contract Corporate Recovery Senior 37 50 37 50 37 48
market to increase headcount when required, allowing
them flexibility to keep salary costs under control.
26
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31. INFORMATION TECHNOLOGY.
INTRODUCTION
The jobs market for IT roles continued to IT support and infrastructure development
grow in 2010, with all indications pointing to have also seen high demand for talented
a very busy 2011. This has resulted in professionals due to ongoing upgrade
salaries and daily rates for contractors projects and enhancements, many of which
remaining firm across most areas and in are seeing companies moving to Cloud-
certain niche markets we are starting to see driven, web-based application solutions.
increases.
With many of the larger companies looking to
Ireland is emerging as a global centre for streamline their processes, we have seen a
excellence in technology innovation and significant increase in ERP projects with SAP
R&D. Development skills are in the most & Oracle in most demand.
demand, with Java and .NET leading the
way and salaries in these areas starting to As a result, contract rates and salaries are
rise as a result. also beginning to increase in this area.
Hiring activity in C++ and web development We expect this trend to continue into 2011
(e.g. PHP) are also starting to pick up and and also expect the demand to increase
we expect contract rates to increase further, which should result in a gradual
between 10-15% for these roles in 2011. increase of rates in most areas throughout
the year.
Demand for mobile developers also
increased in 2010, fuelled by the popularity
of the iPhone and Android operating
systems in the consumer device market.
30
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32. INFORMATION TECHNOLOGY.
PERMANENT
Overall, the IT jobs market was steady Senior Appointments 0 – 2 Years 0 – 2 Years 3 – 5 Years 3 – 5 Years 5+ Years
throughout 2010 and hiring managers Low €K High €K Low €K High €K €K
are forecasting new positions over the
next 12 months. n/a n/a n/a n/a 125
CTO
67 88 82 93 93
Last year saw a slight upward trend in Software Development Manager
52 62 63 82 82
permanent IT roles across Dublin. There IT Project Manager
46 57 58 68 68
was a particular upswing in online Senior Technical Manager
46 57 58 68 68
recruitment activity, with the number of IT Change Manager
41 57 58 72 73
e-commerce senior positions starting to Infrastructure / Support Manager
36 46 47 62 63
grow and further hiring activity anticipated IT Auditor
in 2011.
0 – 2 Years 0 – 2 Years 3 – 5 Years 3 – 5 Years 5+ Years
Development and Design Low €K High €K Low €K High €K €K
The IT development hiring market is
currently busy and there has been a big Java / J2EE
increase in job opportunities in this space. 26 36 36 52 52
VB/C#/VB.NET/ASP.NET 26 36 36 52 52
C/C++ 29 39 40 57 58
Some organisations may be challenged in
Oracle / SQL 31 39 40 57 57
retaining talent if expansion is not planned,
as IT professionals will be looking for roles Data Warehousing / Business intelligence 31 41 42 62 63
in companies that are driving forward the Mainframe 31 41 42 52 53
latest technologies.
The forecast for 2011 is for salaries to
remain steady within the Information
Technology market in Ireland. However,
salaries within the Java, .NET and SAP
markets are set to increase, driven by
high demand and limited supply of these
key skills.
31
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33. INFORMATION TECHNOLOGY.
PERMANENT (Cont’d)
ERP/CRM 0 – 2 Years Low €K 0 – 2 Years High €K 3 – 5 Years Low €K 3 – 5 Years High €K 5+ Years €K
SAP Functional Consultant 36 46 47 67 125
SAP ABAP Programmer 34 44 45 62 93
Oracle Financials Business Analyst 36 46 47 67 82
Oracle Financials Technical Consultant 34 44 45 62 68
ERP (Other) Consultant 31 41 42 57 68
Navision Consultant 36 46 47 67 73
CRM Consultant 36 46 47 62 63
QA / Testing / Localisation / 0 – 2 Years Low €K 0 – 2 Years High €K 3 – 5 Years Low €K 3 – 5 Years High €K 5+ Years €K
Technical Writing
Localisation 26 28 29 37 39
Technical Writer 29 33 35 39 44
QA Engineer 29 36 37 46 47
Test / QA Team Leader 36 41 42 54 55
Test / QA Manager 46 52 53 62 63
PC Support & Desktop Management 0 – 2 Years Low €K 0 – 2 Years High €K 3 – 5 Years Low €K 3 – 5 Years High €K 5+ Years €K
Helpdesk / Desktop Support 24 30 31 36 36
System Administrator 29 36 37 52 53
UNIX Administrator 31 41 41 62 63
Network Specialist 31 41 41 62 63
Security Specialist 31 41 41 62 62
VMware Specialist 31 41 42 62 63
DBA 28 36 39 57 58
32
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34. INFORMATION TECHNOLOGY.
CONTRACT
The IT contracts market is continuing to strengthen Senior Appointments P/Day P/Day P/Day
and this has resulted in rates standing firm across Low € Mid € High €
most areas. In certain niche markets we are even 500-600 500-700 700-900
CTO
starting to see rates increase. 400-500 500-600 600-800
Software Development Manager
300-400 400-600 600-800
Because Ireland is emerging as a centre for IT Project Manager
300-400 400-500 500-600
excellence in technology innovation and R&D, Infrastructure / Support Manager
200-300 300-400 400-500
development skills are in most demand, with Java Business Analyst
200-300 300-400 400-500
and .NET leading the way and rates in these areas Systems Analyst
250-400 400-500 500-700
starting to increase. C++ and Web Development is IT Auditor
also starting to pick up and we would expect rates
to increase here in 2011 by approximately 10-15%. P/Day P/Day P/Day
Development and Design
Low € Mid € High €
Support and infrastructure remains strong due to 200-300 300-400 400-500
Java / J2EE
ongoing infrastructure upgrades and enhancements, 200-300 300-400 400-500
VB/C#/VB.NET/ASP.NET
many of which are seeing companies moving to C/C++
200-300 300-400 400-500
Cloud-driven, web-based application solutions. 250-350 450-550 550-650
Oracle / SQL
200-300 300-400 400-500
Data Warehousing / Business intelligence
With many of the larger companies looking to 200-300 300-400 400-500
Mainframe
streamline their processes, we have seen a
significant increase in ERP projects. SAP and P/Day P/Day P/Day
Oracle are most in demand and rates are beginning ERP/CRM
Low € Mid € High €
to increase in this area.
300-400 400-500 500-600
SAP Functional Consultant
300-400 400-500 500-600
We expect this trend to continue into 2011 and SAP ABAP Programmer
300-400 400-500 500-600
also expect the demand for contractors to increase Oracle Financials Business Analyst
further, which should result in a gradual increase 300-400 400-500 500-600
Oracle Financials Technical Consultant
of rates in most areas throughout the year. 300-400 400-500 500-600
ERP (Other) Consultant
300-400 400-500 500-600
Navision Consultant
300-400 400-500 500-600
CRM Consultant
33
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35. INFORMATION TECHNOLOGY.
CONTRACT (Cont’d)
There has been no significant change in QA / Testing / Localisation / P/Day P/Day P/Day
contract rates overall year-on-year. Technical Writing Low € Mid € High €
IT developers’ daily rates have shown signs
Localisation 100-150 150-200 200-300
of increase, as demand is high and skills
Technical Writer 200-250 250-350 350-450
availability for languages such as Java, .NET
and C++ remain in short supply. QA Engineer 150-200 200-300 400-500
Test / QA Team Leader 200-300 300-400 400-500
Test / QA Manager 300-400 400-500 500-600
PC Support & Desktop Management P/Day P/Day P/Day
Low € Mid € High €
Helpdesk / Desktop Support 130-170 170-250 250-300
System Administrator 200-300 300-400 400-500
UNIX Administrator 250-350 350-500 500-600
Network Specialist 200-250 250-400 400-600
Security Specialist 250-350 350-500 500-700
VMware Specialist 250-300 300-450 450-600
DBA 250-300 300-500 500-600
34
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37. TECHNICAL.
INTRODUCTION
Salaries for professionals within the Irish The technical market for 2011 is set to have
technical market are primarily forecasted to a good trading year, with potential pockets
remain unchanged over the next 12 of growth within certain sectors. The main
months. growth areas of pharmaceuticals and medical
devices will continue to perform well but will
We have seen slight improvements in also face their own challenges this year.
overall market conditions, with many
businesses now in a position to start hiring With continued pressure on cost, focus
again. However, employers still have a remains on smarter supply chain,
significant choice in the market, procurement and process improvement
which allows them to recruit people who fit solutions, with significant growth in demand
every part of their hiring criteria. This is set for these key skills for 2011.
to continue for 2011.
The most recent numbers for exports and for
We have noticed that the best candidates in the manufacturing sector showed good
the market are moving at a slightly faster growth in Q4 2010. This indicates a positive
pace and there has been an increase in the outlook for 2011, despite the potential
number of counter offers. difficulties with the sector.
Most of those surveyed said that they will Temporary and contract employment pay
be increasing headcount in 2011, which is rates are set to remain reasonably static at
a positive outlook in terms of new positions. 2010 levels, with specific skill sets attracting
an additional premium.
Compared to 2010, we will see an increase
in the number of companies paying out
year-end bonuses, with nearly half of
participants planning to pay out bonuses
in 2011.
36
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38. TECHNICAL.
LIFE SCIENCES
Dublin Dublin Cork Cork Regions Regions
The current outlook within the life sciences Low €K High €K Low €K High €K Low €K High €K
jobs market is more uncertain than 2010.
Businesses producing primary products are Calibrations Co-ordinator 33 54 32 52 31 50
forecasting a tougher year than last, due to
Clinical Research Associate 46 67 44 65 43 63
lower than expected worldwide demand
coupled with cheaper availability worldwide. Compliance Officer 45 63 43 61 42 60
Compliance Manager 74 87 71 83 70 81
The secondary/finished product
manufacturers are in a slightly better Documentation Controller 31 46 30 44 29 43
position. Although 2010 was the year of Environmental Chemist 33 46 32 44 31 43
mergers within the pharmaceutical sector Environmental Specialist 43 63 41 61 41 60
and 2011 presents a much changed
landscape with four of the largest worldwide Safety Officer 41 59 39 57 39 56
producers of pharmaceutical products EHS Officer 42 63 40 61 40 60
merging, resulting in ownership of multiple EHS Manager 70 84 67 81 66 79
sites across Ireland.
Food Chemist 30 42 29 40 28 40
These market changes have put pressure Formulations Scientist 34 49 33 47 32 46
on pharmaceutical companies to bring new Lab Supervisor 43 63 41 61 41 60
products to market - a challenge that has
created some uncertainty for the year Microbiologist 34 57 33 55 32 54
ahead. Materials Scientist 32 61 31 59 30 58
NPD Technologist 30 45 29 43 28 42
Demand for RA, QA and validation staff
remains constant, with a very definite NPD Manager 52 67 49 65 48 63
preference for internal promotions over Organic Chemist 33 49 32 47 31 46
external hiring where possible. There has
also been a noticeable increase in demand
for qualified medical advisors.
37
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40. TECHNICAL.
LIFE SCIENCES (Cont’d)
Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Validation Specialist 41 59 39 57 39 56
Validation Manager 65 74 63 71 61 70
Molecular Diagnostics Specialist 42 62 40 60 40 58
Sales Executive (Medical / Pharma) 42 65 36 60 32 58
Product Manager 42 62 40 60 40 58
Brand Manager 45 65 43 63 42 61
Head of Function (Marketing) 95 115 91 111 90 108
Director of Sales / Marketing 90 110 87 106 85 104
Quality Control Director 95 118 91 113 90 111
Quality Assurance Director 101 121 97 116 95 114
Compliance Manager 75 91 72 88 71 86
Regulatory Affairs Director 88 105 85 101 83 99
Quality Director (Head of Function) 115 145 111 139 108 137
Clinical Trials Director 92 105 88 101 87 99
EHS Director 90 110 87 106 85 104
R&D Director 92 115 88 111 87 108
39
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41. TECHNICAL.
ENGINEERING
Dublin Dublin Cork Cork Regions Regions
Low €K High €K Low €K High €K Low €K High €K
Hiring activity in the second half of 2010
Manufacturing Engineering – Level 1 33 38 32 37 31 36
increased slightly across all key areas of
engineering and this looks set to continue. Manufacturing Engineering – Level 2 28 45 27 43 26 42
Manufacturing Engineering – Level 3 45 60 43 58 42 57
A focus in the areas of lean management
and Six Sigma is forecast to remain a key Chemical Engineer 36 67 35 65 34 63
trend throughout 2011, with the driver being Electrical Engineer 34 64 33 62 32 60
to build more efficient and dynamic Engineering Manager (>100 staff) 77 95 74 91 73 90
processes to ensure future cost
effectiveness in an increasingly competitive Engineering Manager (<100 staff) 88 108 84 104 82 102
market. Industrial Engineering Manager 74 95 71 91 70 90
Mechanical Engineer 34 62 33 60 32 59
New growth in this sector is within the
financial services and banking markets. Industrial Engineer 34 64 33 62 32 60
There is also a particular focus on the hiring Quality Engineer – Level 1 33 38 32 37 31 36
of manufacturing, process development Quality Engineer – Level 2 28 45 27 43 26 42
and quality engineering personnel, with a
good number of these roles coming from Quality Engineer – Level 3 45 60 43 58 42 57
the large medical device companies and a Validation Engineer 39 69 38 66 37 65
slow and steady rise in demand from Polymer Engineer 36 63 35 61 34 60
SMEs.
Process Development Engineer 43 70 41 67 41 66
Salaries across this sector are likely to R&D Engineer 42 70 40 67 40 66
increase by 1-5% in the next 12 months, Lean Six Sigma Engineer 43 70 41 67 41 66
with key growth in demand forecast for
energy, renewables, medical devices and
from SMEs.
40
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